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Displaying items by tag: IMDO

#Forum - The Irish Maritime Development Office (IMDO) hosted an inaugural meeting of the Ship Commerce Forum as the first industry event of 2016. The event was held on Thursday 18th of February at Wilton Park House in Dublin.

The event entitled ‘Maritime Finance: Opportunities for Ireland’ was well attended with a broad spectrum of representatives from professional services firms, financial institutions, international shipping companies as well as representatives from international asset leasing companies based in Ireland.

The round table event was created to initiate an industry focused debate on the current opportunities for Ireland in the maritime finance industry as well as the barriers that exist. Discussion also considered how Ireland could become a centre for maritime finance leveraging on the established leasing support services and expertise available here.

The IMDO Director, Liam Lacey, put forward some broad questions centred around Ireland’s potential as a maritime finance hub. He spoke at length about Ireland’s strength as a location for Foreign Direct Investment and success in other industries, whilst at the same time drawing attention to the opportunities inherent in Ireland’s current underperformance in the Maritime sector.

After a period of intra table debate and presenting back ideas Yvonne Thompson, Tax Partner at PwC gave a summation of the night’s discussion and highlighted some of Ireland’s strengths which make us an ideal location for companies involved in Maritime Commerce.

Growth and development of Ireland’s Maritime Commerce sector is an important initiative which ties into government ambitions outlined in Harnessing Our Ocean Wealth, the IMDO aims to create a forum through which industry views can be channelled and lessons learned.

The forthcoming Harnessing Our Ocean Wealth will take place in Galway on the 1st of July as part of the Marine Institute’s 3rd annual event SeaFest 2016. 

Published in Ports & Shipping

#iShipIndexQ3 - Shipping and port activity in the Republic of Ireland rose by 12% in the third quarter of 2015 when compared with the same period in 2014.The figures are from the latest quarterly iShipIndex* published by the Irish Maritime Development Office (IMDO).

The latest analysis also indicates that all of the five principal freight segments grew during that period.

Unitised traffic, which consists of Roll-on/Roll-off (Ro/Ro) and Lift-on/Lift-off (Lo/Lo) traffic, continued to rise steadily and has now shown consistent growth for an extended period, with an average growth rate of 6% per quarter in unitised traffic since Q2 2013 as measured by the iShip Index.

The majority of Ro/Ro traffic moves between Ireland and Great Britain and this freight segment is a simple but reliable indicator of the level of trade between both economies. Encouragingly, the Ro/Ro freight sector saw volume growth of 6% in the third quarter to 254,068 units.

Lo/Lo laden imports have now risen for eight consecutive quarters, reaching 96,828 teu in Q3, 2015. Lo/Lo laden exports grew 0.4% from the previous quarter to reach 68,249 teu in Q3, 2015. Overall, Lo/Lo container traffic increased 2% to 165,076 teu in the same period.

When reviewing unitised traffic, it is worth noting that both Lo/Lo and Ro/Ro freight move in an all-Island setting. Therefore, when Northern Irish ports are included, all-island Ro/Ro volume grew by 5% in Q3 2015. All Island traffic in the Lo/Lo laden sector grew 3% overall, with imports rising 3% and exports by 4% for Q3 2015.

The overall bulk traffic segment saw tonnage volumes increase by 19%, excluding transhipments, when compared to the previous year. Liquid bulk increased substantially by 31%. However, this increase was driven to a large extent by a temporary anomaly in the market in Q3 2014. Break bulk, which largely consists of imports of construction and project related commodities, increased by 6%. Break bulk has now seen ten consecutive quarterly increases.

There was a 12% increase in dry bulk traffic for Q3 2015 with trade in cement and animal feed showing significant growth. However, there is a high degree of fluctuation in traffic volume typical in the dry bulk market when viewed on a quarterly basis.

Note: *The iShip index is a volume index for all freight traffic moved to and from the Republic of Ireland. This does not include passengers, and transshipment activity.

Note: All freight and passenger comparisons are done on a quarterly basis (Q3 2015 v Q3 2014).

 

 

Published in Ports & Shipping

#ShippingVolumes - Irish ports and shipping activity rose by 7% in the fourth quarter of 2014 when compared to the corresponding period of 2013.

The figures released today are from the quarterly iShip Index* published by the Irish Maritime Development Office (IMDO).

The latest analysis also indicates that four of the five principal freight segments grew in the second quarter of 2014.

The Ro/Ro freight segment experienced volume growth of 4% in the fourth quarter to 429,814 units and is the eighth consecutive quarterly increase in Ro/Ro traffic, the majority of which moves between Ireland and Great Britain and is a simple but reliable indicator of the level of trade between both economies.

Container traffic (Lo/Lo) grew by 8% to 157,077 units. Encouragingly, container imports have now risen for five consecutive quarters. Container exports continued to grow, increasing by 4% to 67,888 units.

The overall bulk traffic segment saw tonnage volumes increase by 7% when compared to the previous year. Break bulk, which largely consists of imports of construction and project related commodities, increased by 16%.

Break bulk has now seen seven consecutive quarterly increases. Liquid bulk also rose by 16% and dry bulk increased by 1%, having both experienced negative growth in recent quarters.

For a breakdown of figures for the previous quarter, Q3 of 2014, click HERE

*The iShip index is a volume index for all freight traffic moved to and from the Republic of Ireland. This does not include passengers or trans-shipment activity.

Note: All freight and passenger comparisons are done on a quarterly basis (Q4 2013 v Q4 2014).

Published in Ports & Shipping

#IrishTonnageTax - The Irish Maritime Development Office (IMDO) has released a report Irish Tonnage Tax: Opportunities for the International Shipping Industry.

The Irish tonnage tax regime has been established for over 10 years and offers one of the most competitive on-shore corporate tax rates to international shipping companies.

The tonnage tax report was produced by independent experts PwC and details the benefits of locating a maritime operation in Ireland. The report provides an update on Ireland's extensive double tax treaty network.

Ireland's role is highlighted in its expertise in asset leasing and for having a well developed structured finance regime which can be directly applied to international maritime financing.

The Irish tonnage tax is derived from a 'notional' profit calculated based on the tonnage of a vessel, which is then subject to the Irish corporate tax rate of 12.5%.

The IMDO is the Irish government agency which provides support and advice to Maritime companies setting up operations in Ireland. In his forward to the report, IMDO Director Liam Lacey says 'this publication provides independent validation of Ireland's status as a world class location in which to conduct business and more particularly, sets Ireland apart as a hub for maritime commerce'.

As a country, Ireland continues to maintain its reputation as a pro-business environment that has attracted investment from some of the world's largest companies over the past three decades.

In Forbes' 2014 annual ranking of the Best Countries for Business, Ireland was named number one country in the world for business.

More recently, figures released by the Irish Central Statistics Office (CSO) show that the national economy grew by more than seven times the EU average between April and June 2014. This is the strongest growth rate recorded in Ireland since the early 2000's, showing a strong and stable recovery.

Continuing in this vein, the Irish Economic and Social Research Institute (ERSI) predict that Ireland's GNP is to grow by approximately 5% in 2014 and 5.3% in 2015.

Irish Tonnage Tax: Opportunities for the International Shipping Industry is available to download by clicking HERE

For more information on the report and locating a maritime operation in Ireland, contact Rebecca Wardell by calling +353 (0)1 476 6518 / +353 (0)87 798 0089 or email: [email protected]

 

Published in Ports & Shipping

#IrishMaritimeForum – The inaugural Irish Maritime Forum recently held in Cork was attended by more than 150 delegates representing the shipping industry, various stakeholders and departments and the Irish government agency, the Irish Maritime Development Office (IMDO).

According to the IMDO, they were delighted to join an exciting line up of speakers for the event's main seminar entitled 'Developing the Dynamic Future of Ireland's Maritime Sector' which was hosted by the Port of Cork in partnership with the Irish Ports Association.

Combined they gathered industry leaders from across the Irish maritime sector to the conference that was opened by Minister Sean Sherlock TD, who spoke of the importance of ports as strategic points for trade growth, both nationally and internationally. The minister also drew attention to the recent uplift in port volumes as indicated by the IMDO's iship index.

A cross section of the Maritime world was in evidence with port operators, department representatives, pilots, stevedores, European officials, educators, mariners and many more all contributing to meaningful debate during the conference and well into the break out times.

Speaking at the event, the IMDO's Business Development Manager Rebecca Wardell, emphasised the necessity for ports to look at potential areas of innovation, efficiency in work practices, competition across services and planning the means to meet future capacity demands over a 20 year plus horizon.

She also stressed the IMDO's commitment to be involved in an on-going collaborative process to assist ports in this regard.

The importance of a forum such as this cannot be underestimated, creating a unique opportunity for those in the industry to come together and develop ideas for the future of the sector. This is particularly relevant at present with significant government support for the development of the sector evidenced by the cross departmental strategy, Harvesting Our Ocean's Wealth.

On a related note, another major conference Our Ocean Wealth was held last June in Dublin, for more details about the work of 'harvesting' our national resources, visit: www.ouroceanwealth.ie

Following the conclusion of the Irish Maritime Forum, a Gala Dinner that evening was hosted by the Irish Institute of Master Mariners, for further details about the IMM: www.mastermariners.com

For further information on the role of the IMDO including the iShip Index and much visit: www.imdo.ie

 

Published in Ports & Shipping

#VacancyIMDO – The Irish Maritime Development Office (IMDO) which was established by Statute in December 1999 and commenced operations in July 2000, is currently inviting applications for the position of Business Development Manager.

The Business Development manager will be responsible for delivering new clients in a pressurised and competitive environment.

For further details of the job description click HERE and as how to apply. Noting the closing date of applications must be received by 17:00 on Friday 23rd May 2014.

 

Published in Jobs

#ShortSea14 – This year's ShortSea European conference will take place in the Portugese capital of Lisbon (12-13 May), and follows previous conferences held in Paris 2013 and Dublin the proceeding year.

It will be supported by the Shortsea Promotion Centres from the Maritime Member States of the EU, and the conference will be an ideal opportunity to keep up to date in developments and trends.

In addition the venue is where you can meet your peers and to network in the industry.

For further information, click to download conference programme.

 

Published in Ports & Shipping

#marinejobs – The Marine Institute is seeking to employ a Director for the Irish Maritime Development Office (IMDO). A member of the senior management team, the Director will lead a small team providing a wide range of services both to the public and private sector, such as business development, policy support, market intelligence, education and contributing to the formulation of sectoral strategies. A key deliverable is the provision of reports and advice to the Department of Transport, Tourism and Sport, including the quarterly Transport Economist.

The Director will be primarily responsible for managing the process of innovation and strategy to support the continuous growth and development of the shipping services sector in Ireland. They will be engaged at a high level supporting development with maritime companies and organisations in Ireland while working with major international shipping groups and shipping lines already doing business in Ireland.

The successful candidate will work closely with government departments, external parties and key stakeholders, providing market intelligence and critical inputs to policy advice or future development and support

To be successful, the candidate will have a minimum of ten years direct experience in the national and international shipping sectors, ideally in the areas of ship management, ship broking, finance or maritime economics. The candidate will also have a relevant degree or equivalent professional qualification and experience. The candidate will have successfully managed programmes, people and resources at a senior and strategic level and been involved in communicating and building relationships with stakeholders.

A detailed job description can be downloaded from the current vacancies section of our website at www.marine.ie.

If you meet all of our requirements, we would be delighted to hear from you. Please send your letter of application and an up to date CV to Catherine Johnston, Human Resources Manager, Marine Institute, Rinville, Oranmore, Co Galway or email to [email protected] Please note email applications will only be accepted at this address and applications are not valid until you have received confirmation of your application.

The closing date for receipt of applications is 17:00 on Tuesday 7th January 2014. Late applications will not be accepted.

The Marine Institute is an equal opportunities employer.

Published in Jobs
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#DublinsSister Cielo di San Francisco a 37,000 dwt 'Handysize' dry-bulker docked in Cork's Ringaskiddy Deepwater Terminal from New Orleans, she is operated by Dublin based d'Amico Dry, writes Jehan Ashmore. 

She along with a sister Cielo di Dublino, as previously reported in 2011, where acquired by d'Amico Dry, which is a subsidiary of the Italian d'Amico Group.

The christening ceremony of Cielo di San Francisco was performed by Mrs. Sandra Murphy, wife of Mr. Glenn Murphy, Director, Irish Maritime Development Office (IMDO).

The Liberian flagged vessels cost around US $60 million and were completed in South Korea at the Hyundai Mipo Dockyard (HMD) in Ulsan. The ships principle dimensions are 182m long, 27m beam and a 10.4m draught.

The entry by d'Amico Group into the dry-bulkers market had marked an important chapter since the subsidiary established an Irish office in 2002, as the vessels are managed from its Dublin office under the Irish Tonnage Tax (ITT) regime.

d'Amico Dry is engaged in chartering activities also in Monaco, Singapore, Vancouver and Stamford (US). Its core fleet is focused on Panamax, Supramax and Open Hatch/Box Shaped Handy size vessels, consists of a mixture of owned and long-term time chartered vessels.

Cielo di San Francisco is scheduled to depart Cork Harbour this evening and dock in Dublin Port tomorrow.

 

Published in Ports & Shipping

#IrishShippingSector – Irish based shipping companies in 2012 experienced a challenging year with operations in both the domestic and international shipping markets, according to the Irish Maritime Development Office (IMDO).

Against this turbulent backdrop, the number of vessels being owned, controlled, managed and operated from Ireland remained steady at 340 vessels last year. The IMDO estimate that employment at these firms increased by 5% last year.

A key element in the overall stability of this segment of the Irish maritime sector has been the constant presence of the Irish Tonnage Tax regime which was the introduced in 2002.

Since the scheme began the IMDO has seen a reversal of a previous decline in the indigenous ship owning sector which has been followed by a steady growth and investment programme.

The scheme has gone from approximately 40 vessels to just over 300 vessels, owned, managed and operated by companies located in Ireland.

Latest data indicates that over 56% of the fleet is made up of dry bulk carriers, 21% tanker and 12% container with other Ro/Ro and other specialised vessels making up the remainder of the fleet.

The age profile of the fleet indicates that it is also a modern fleet with 70% of the vessels less than 10 years old and more than 52% under five years.

The industry's growth in Ireland has been driven both by established Irish shipping companies and also by foreign inward investment by overseas firms.

The Tonnage tax has made a positive economic contribution to Ireland and to the shipowning sector in Ireland. It has resulted in the creation of new jobs and investment opportunities for over 600 people and continues to grow.

The IMDO estimate that over €3 billion of shipping assets are managed and controlled from Ireland with more than 100 new direct jobs being created over the last three years alone.

In The Irish Times (dated 24 May) Top 1000 companies in Ireland this included a top 100 transport related companies.

The IMDO analysis indicates that 29 companies listed are engaged in shipping, ports and maritime logistics that had a combined turnover of €4.5bn employing 4700 people. Six Irish Shipping and leasing firms made the top 1000 companies last year.

 

Published in Ports & Shipping
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