#Ports&Shipping – The latest Irish Maritime Development Office (IMDO) Weekly Market Review includes the following stories outlined below.
Global Maritime News: Melting Arctic Ice Caps Leads to Change In Global Shipping Routes - The disappearing Arctic ice cap will boost trade between north-west Europe and countries such as China, Japan and South Korea by making the sea routes far shorter, according to a discussion paper from the Netherlands Bureau for Economic Policy Analysis.
China Considers Merging Its Two Biggest Shipping Companies - China Ocean Shipping Group (Cosco) and China Shipping Group are planning a merger. The government may combine the two companies or merge some of their operations, according to the sources. The mainland's two largest shipping and logistics conglomerates together control 11 listed entities in Shanghai, Shenzhen, Hong Kong and Singapore.
Expanded Suez Canal Opens Is Now Open for Business - International ports and shipping businesses have reacted positively to the $8.3 billion New Suez Canal, unveiled on Thursday of this week, in the face of analyst concern that a global slump in container shipping means that it will take years for Egypt to reap the benefits it hopes to accrue from the project.
For more of the above stories and more click the IMDO Market Review (week 32) here.
In addition to further dedicated coverage visit Afloat.ie's Ports & Shipping news.
