Displaying items by tag: US Increase Maritime Security

1st December 2015

IMDO Review: ICG Buy ‘Box’ships, US Increase Maritime Security & Canada Bans Tankers

#IMDOreview -The Irish Maritime Development Office (IMDO) returns with its Weekly Market Review and among the following stories are outlined below.

Irish Maritime News: Irish Continental Group Purchase Four Containerships -The Dublin headquartered Irish Continental Group as reported by loadstar.ie, took advantage of weak market conditions to snap up the 980 teu Elbfeeder, Elbtrader and Elbcarrier, paying just $21.8m for the seven-year-olds, from their German KG owner, and $5m for the 2005-built 800 teu Jork Ranger.

For further details on the acquisition as previously reported on Afloat.ie, click here.

Global Maritime News: United States Government Increase Maritime Security in Southeast Asia - The United States is boosting maritime securityassistance to Southeast Asia, the White House announced on Tuesday.

In total, a statement commissioned by the White House said that the United States is committing $119 million in fiscal year 2015 (FY 2015) and will seek to provide $140 million in assistance the following year subject to appropriation, totalling over $250 million over two years.

Tanker Market: Canada Bans West Coast Crude Oil Tankers - Canada's new Liberal government has moved to implement a ban on crude oil tankers along the country's West Coast, a recently released directive to the country's new Minister of Transport Marc Garneau has revealed.

In the mandate letter, new Canadian Prime Minister Justin Trudeau directed the Transport Ministry to "Formalize a moratorium on crude oil tanker traffic on British Columbia's North Coast" - a region that includes a number of ports including Prince Rupert and Kitimat.

For more on the above stories and other news items, click the IMDO Market Review (Week 48) here.

In addition to further dedicated coverage visit Afloat.ie's Ports & Shipping news.

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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.