#Ports&Shipping –The latest IMDO Weekly Shipping Market Review includes the following stories as detailed below.
Irish Economy: Modest export growth - According to figures from the Central Statistics Office (CSO), seasonally-adjusted exports for March rose by 4 per cent from February. This signals the second consecutive month of modest increases, although foreign sales of goods made in Ireland remained subdued.
Fleet: Sub-3000teu challenges - The sub-3000 teu fleet faces looming headwinds due to the collapse of the German KG ship financing system, according to Drewy Maritime Research. These vessels, which are the workhorses of intra-regional services, tend to be environmentally damaging and fuel inefficient.
Dry Bulk Market: Chinese steel boost - Chinese steel production keeps growing, which could provide a boon to the dry bulk market, reported Lloyd's List last week. Despite warnings about a slowing China, April was the fourth consecutive month of draw-downs of iron ore stocks. "We believe capesize rates will stage a recovery in the second half of the year, on the back of seasonal higher exports from Brazil and restocking by Chinese steel mills," according to an analyst from RS Platou.
To read more of each of the above stories and other news from the IMDO Weekly Markets Review for Week 20, click HERE to view or download as a PDF
