Balearic Islands’ ports will receive €1,6 million from inter-port Compensation Fund
Palma de Mallorca
11/12/2015
Balearic Islands’ ports will receive almost EUR 1,6 million from inter-port compensation fund (FCI from its Spanish initials) next 2016, from a total of €37,8 million 28 different Port Authorities will share. Committee for Distribución del Fondo de Compensación Interportuario has informed after the unanimous agreement reached in Madrid yesterday. APB provides EUR 748.000 to Compensation Fund currently and received EUR 1.549.000 thus producing a net profit of €801.000 for Balearic Islands. One of the variants that has been taken into account for allocations’ distribution is insularity, that’s why APB if one of the greatest beneficiaries, together with Canary Islands’ Port Authority, also compensated as per being the outermost autonomous community. Concepts like maintenance of the identified aids to navigation, actions with respect to security, planning, coordination, Port traffic control, periodic and extraordinary repairs, unforeseen circumstances, non-commercial invests and recovery plans are proposals kept in mind. Compensation Fund is seen as an instrument to reorganise existing resources of the State port system, the purpose of which is to achieve system’s self-financing and also to potentiate a loyal competence between Spanish ports. Its application has allowed port enclosures such as Ceuta and Melilla, Balearic and Canary Islands, or those which have to face periodic or extraordinary repairs, can keen their activity and infrastructures.
