Shannon Foynes Port Company signs partnership with North American powerhouse

Memorandum of understanding with premier port of North America's Great Lakes

Pat Keating chief executive of Shannon Foynes Port Company which has signed a memorandum of understanding with Cleveland-Cuyahoga County Port Authority (CCCPA), the premier port of North America's Great Lakes. Picture: Sean Curtin True Media.

Shannon Foynes Port Company has signed a strategic link-up with a major US port to strengthen trade ties which could open new opportunities between Ireland’s Midwest and North America.

The company has and signed a memorandum of understanding with Cleveland-Cuyahoga County Port Authority (CCCPA), the premier port of North America's Great Lakes. The commitment will see the port authorities jointly explore activities that will give rise to shared business growth.

Shannon Foynes Port Company is a commercial semi state port and handles in excess of 11m tonnes of solid and liquid cargo annually through six terminals operating in the Shannon Estuary. Shannon Foynes Port Company has statutory jurisdiction over all marine activities on a 500km2 area stretching from Kerry/Loop Heads to Limerick city.

“This is a strategic and mutually beneficial transatlantic opportunity between Shannon Foynes Port Company and the Port of Cleveland, particularly in the context of green energy, supply chain diversification and maritime trade connectivity,” Minister for Transport Darragh O’Brien said.

“A key target of this MOU will be to shorten timelines on transit solutions for industry trading between the US and Ireland and also the substantial carbon savings on shipping services over existing traditional transport routes.

“The US is Ireland’s largest trading partner and this commitment between the port authorities is a positive declaration of intent on both sides, which will be good for investment, jobs and consumers in both regions.”

 The Port of Cleveland is strategically located to provide direct access to the St Lawrence Seaway and the Great Lakes, a $6tn (€5.2tn) regional economy.

Shannon Foynes Port Company chief executive Patrick Keating welcomed the new opportunities the agreement could bring. “While we provide critical access for trade to and from Ireland, we are also a key gateway into and out of Europe for transatlantic trade. That is what essentially underpins this agreement with the CCCPA as we will together seek to advance the enormous, each-way trade opportunity from this global trade crossroad.”