New methods of levying property rates on port companies are unfair, unreal and damaging to the competitiveness of the sector, the Irish Ports Association has claimed.

The association is believed to have told the Minister of State for Finance, Mr Martin Cullen, that the Valuation Bill passing through the Oireachtas should be amended.

While not opposing the imposition of rates per se, the association said the proposed system was inappropriate because it concentrated upon the rental value of property.