Displaying items by tag: European Container Markets

26th March 2013

IMDO Shipping Review: Irish Economy Highest Since Pre-Crisis, Containers Volumes Down, Chinese Ramp Up LNG Orders and more…

#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.

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About the Loughs Agency

The Loughs Agency is a governmental body established under the 1998 Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of Ireland. The Agency's goal is to provide sustainable social, economic, and environmental benefits by effectively conserving, managing, promoting, and developing the fisheries and marine resources of the Foyle and Carlingford areas.

The Agency's governing legislation confers several specific functions, including the promotion of development of Lough Foyle and Carlingford Lough for commercial and recreational purposes in respect of marine, fishery, and aquaculture matters. Moreover, the Agency is responsible for managing, conserving, protecting, improving, and developing the inland fisheries of the Foyle and Carlingford areas. Additionally, the Agency has the task of developing and licensing aquaculture, as well as the development of marine tourism.

The Loughs Agency reports to the North South Ministerial Council and its government Sponsor Departments, the Department of Agriculture, Environment and Rural Affairs (DAERA) in Northern Ireland, and the Department of the Environment, Climate, and Communications (DECC) in Ireland. The Departments fund the Agency on an equal basis.

The Loughs Agency's focus on sustainable development is expected to have a positive impact on the economy, environment, and local communities in the Foyle and Carlingford areas. The Agency's efforts to conserve and enhance the region's marine resources, including fisheries and aquaculture, are expected to benefit local communities, promote tourism, and contribute to economic growth.

In conclusion, the Loughs Agency plays a vital role in promoting the sustainable social, economic, and environmental development of the Foyle and Carlingford areas. Its work on marine conservation and development is crucial in ensuring the long-term viability of the region's natural resources and in promoting sustainable economic growth.