Mr. Ray Lawlor:

I thank members for giving me the opportunity to address the joint committee on where I envisage New Ross Port Company progressing in the next three to five years. I was born and raised in New Ross. After a number of years working in Dublin and a spell abroad, I returned to New Ross in 1986 and have been in business there ever since. Throughout my business career, I have been involved in the local business community. I have been a committee member of New Ross Traders Association and was chairperson for two years, from 2002 to 2004. As a member of the board of directors of New Ross Chamber of Commerce, I was involved at all levels of chamber activity. This included chamber of commerce policy, local and national promotions, retail and tourism marketing and lobbying. I am a board of management member of St. Canice’s national school and a director of New Ross Credit Union. I have served previously on the board of New Ross Port Company from 1997 to 2002 and from 2004 to 2009, when I was also a member of New Ross Town Council. During this time, I was highly involved at board level and committees of which I was a member ranged from the board audit committee to the pension review committee and the company interview panel. Because of my experience on the audit committee, I can review and appraise financial statements, I understand accounting procedures and controls and know how to measure operating performance and liquidity.

I am honoured to be asked to chair the board of New Ross Port Company and, if approved, look forward to meeting the other board members and working with them. I will ensure a high standard of corporate governance and board reporting and that existing practices comply with governance best practices. I will provide leadership for the board. The core objective of national ports and shipping policy is to facilitate a competitive and effective market for maritime transport services. In the current economic downturn this objective is more important than ever. However, the same economic downturn means that achieving this objective is now more difficult than ever. New Ross Port is unique, as it is tidal and 14 miles inland. It straddles two counties and three local authority areas, namely, those of Wexford County Council, Kilkenny County Council and New Ross Town Council. The majority of the jetties in the port are in private ownership.

All ports have been affected by the recession and tonnage, throughput, margins and revenues have suffered. New Ross Port is no exception and, in fact, owing to the loss of liquid fuel imports from the customer base, the decrease in turnover is much more stark than the national average. The incoming board of New Ross Port Company face challenges on a number of fronts. The need to increase throughput and revenues will be highest on the agenda. As a small port with low tonnage, the loss of one major customer has a hugely detrimental effect but, consequently, any new business has a large beneficial effect on revenues and cash flow. It will be the highest priority to look for new business. It also will be necessary to look at other areas where revenue can be generated for the company. New Ross Port has always supported marine tourism initiatives but has not been involved in generating income from this source. This is an area the board should examine further.

I look forward to publication of the port policy review and working with the board on its implications for New Ross Port. The corporate structures and reporting requirements for a small port such as New Ross may come in for mention and there may be changes. I will work with the board and staff to ensure New Ross Port Company meets all of its governance requirements. In spite of the challenges facing New Ross Port, I am confident about its future. While there certainly will be changes, the board and I will make sure these changes improve New Ross Port.

I look forward to hearing the views and comments of members and thank them again for giving me this opportunity.