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Displaying items by tag: Irish economy

#Ports&Shipping -The latest IMDO Weekly Shipping Market Review reports that total exports in the Irish Economy last year hit their highest level ever at 16 per cent above the pre-crisis high, Enterprise Minister Richard Bruton has said. Mr Bruton said total exports were now at €182bn, after figures from the CSO showed a record trade surplus of €46bn.

Key Ports throughput in the Northern European Container Market witnessed a slight rise in throughput between December and January 2013, however, a year-on-year comparison shows total volume down 3.5 per cent, as noted by Drewry's Container Insight Weekly.

In the LNG Markets, there is rapid Chinese import demand as a newbuild order for 10 LNG carriers is in line with China Inc's strategy to ramp up its gas carrier ownership, as it becomes a more dominant presence in the industry. Japan, the industry's top importer is still way ahead of China, with annual imports of 87 million tonnes, compared to China's yearly imports of 15 million tonnes.

To read more of each of the above stories and other news, they can be viewed or downloaded as a PDF from the IMDO Shipping Markets Review for Week 12.


Published in Ports & Shipping

#DALKEY ISLAND PROSPECT - An online petition organised by Protect Our Coast in protest over plans by Providence Resources to start exploratory drilling for oil and gas off Dalkey Island, in south Co. Dublin, has reached over 2,000 signatures to date, including support from overseas.

Providence Resources are seeking permission from the Department of Environment for a foreshore licence to carry out site investigation and drill testing in waters depths of 20-30m in the Kish Bank Basin, at the Dalkey Island 'Prospect'.

They propose drilling one exploratory well some 6kms offshore, though the exact location chosen for the well site is subject to results of seismic surveys. This particularly area lies closer to the coastline, as it is on the more westerly fringes of the exploratory block (33-21) zone.

The campaigners object to the proximity of the well site off Dalkey Island which is designated a Special Protection Area (SPA). The island is home to a resident herd of goats, is rich in birdlife, seals and cetaceans, notably bottlenose dolphins in neighbouring Killiney Bay, which have drawn recent media attention and aided the objectives of the campaign, see

In addition they oppose the drilling location given its closeness to a large urban population and the risk of an oil-spill and consequent effects to humans and the environment throughout Dublin Bay.

If granted, exploratory work is due to start this year, with Providence claiming the entire process would take up to six months, between survey and drilling operations. During part of that timeframe, up to two seismic vessels will be employed, prior to deploying a 'jack-up' rig to the well site.

Should the oil be commercially viable, the benefits of becoming self-sufficient and security of supply would be of significant economic benefit to Ireland. To date 100% of the country's oil and 95% of its gas is currently imported, and yet most of Ireland's natural resources are unexplored, according to Providence Resources.

Exploration is an expensive exercise and has no guarantee of discovery while the timeframe from discovery to production can typically take five to seven years.

"Yet," say Providence Resources, "the implications of discovering and utilising such a natural resource, and potentially becoming self-sufficient in energy terms, would be of significant economic benefit for Ireland Inc. in terms of taxation, employment, security of supply and skills development."

To read more information about Dalkey Island Prospect from Providence Resources, with maps, montages (including views from White Rock Beach) newsletters and video presentation visit

As previously reported on, the application for the foreshore license is currently on view in Dalkey and Dun Laoghaire Garda stations. The application contains maps, plans, and drawings which can be inspected, noting the public consultation process ends on Thursday 2nd February 2012.

In addition for information from the Department of Environment's website, click HERE. Those wishing to make an objection or representation of the sought license should make submissions to the Foreshore Unit of the department on close of business (also) on Thursday 2nd February 2012.


Published in Coastal Notes