Ciarán Lynch (Cork South Central, Labour)
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Question 76: To ask the Minister for Transport the action he proposes to take to carry out a new strategic review of Irish port capacity and operations to 2030 and beyond; the position regarding the Bremore port proposal; if his attention has been drawn to reports of deficits in some port pension plans and the effect of this on port operators and workers; and if he will make a statement on the matter. [45892/09]

Noel Dempsey (Meath West, Fianna Fail)
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In August 2009, the Dublin Port National Development Plan Study carried out by Indecon Economic Consultants was published on my Department's website, www.transport.ie.

I commented at the time that the report is an important analysis not just of the future of Dublin Port, but also provides a useful insight into the capacity challenges that face the sector as a whole.

The report forecasts traffic demands over the medium to long term and is clear in its conclusion that the sector will face renewed capacity constraints from approximately 2025 onwards.

As stated in the report, these capacity constraints will be such that the development of a significant additional capacity project will be required, such as that envisaged at Bremore or at Dublin Port. Dublin Port Company's proposed development is currently the subject of an oral hearing before An Bord Pleanála.

With regard to the Bremore project, Drogheda Port Company together with their partners, Castlemarket Holdings, are continuing to progress their plans to develop a deepwater port facility at Bremore.

I understand that preplanning consultations have taken place with An Bord Pleanála. However, to date no planning application has been lodged in respect of the development.

The turbulence experienced in financial markets over the last 18 – 24 months has had a detrimental impact on most pension funds, and the port companies are no different.

Port company pensions schemes are regulated like other company pension schemes under the Pension Act. Defined benefit schemes that fail to meet the Minimum Funding Standard are required to make a funding proposal to the Pensions Board for meeting the standard within a defined period.