#Ports&Shipping –The latest IMDO Weekly Shipping Market Review includes the following stories as detailed below.
Irish Economy: Service sector accelerates -Ireland's services sector expanded at its fastest rate since the new year in April, aided by exports beyond the euro zone, a survey showed last week, in a boost for Irish growth prospects after weak manufacturing survey data. The NCB Purchasing Managers' Index (PMI) of services sector activity rose to 55.2 from 52.3 in March, comfortably above the 50 line that separates growth from contraction.
Container Market: Deliveries hamper recovery- Withdrawals and void sailings on the Asia-Europe trade lane are not enough to offset new tonnage deliveries and improve vessel utilisation rates, according to Alphaliner. Its latest research shows that 20 new ships of between 8,500 teu and 16,000 teu will be introduced during the second quarter of 2013, adding to seven new vessels delivered in March.
Demolition: Container scrappage to beat record - Containership scrappage rates are expected to exceed previous records this year, but cellular capacity removed due to demolition will still be surpassed by a ratio of one to three by newbuilding deliveries, reported Lloyd's List citing Alphaliner.
To read more of each of the above stories and other news from the IMDO Shipping Markets Review for Week 18, click HERE to be viewed or downloaded as a PDF
