Higher interest rates hit profit at Port of Cork Company amid traffic declines

Throughput at the Port of Cork declined to 9.5 million tonnes in 2023. 

Higher interest rates and volatile global events have seen profit at the Port of Cork Company fall during the course of last year as overall traffic through Bantry Bay declined to 9.5m tonnes.

According to the company’s latest annual report, revenue at the port during last year stood at €48.4m which was consistent with 2022. This is despite throughput dropping from 10.2m tonnes in 2022.