IMDO Weekly Review: Exports Decline by 4%, Egypt Crisis Bunker Prices and Piracy in Guinea Surpasses Aden

16th July 2013

#Ports&Shipping –The latest IMDO Weekly Shipping Market Review includes the following stories as detailed below.

Irish Ecomomy: Exports Decline -There was a 4% drop in exports last month according to preliminary figures from the Central Statistics Office. Seasonally adjusted exports were just above €7.05 billion in May, according to the figures, €314 million lower than the previous month.

Bunker Market: High price risk - Civil unrest in Egypt will push up the price of bunker fuel, easily the biggest expense for ship-owners, Lloyd's List warned last week. A senior executive from a ship-owning company who asked to remain anonymous told the shipping journal that bunkers could rise on the back of the climbing oil price.

Piracy: Developments-In 2012, pirate attacks in the Gulf of Guinea surpassed those in the Gulf of Aden and the Western Indian Ocean for the first time in recent times, according to a joint study released by the International Maritime Bureau, Oceans Beyond Piracy and Maritime Piracy-Humanitarian Response.

For more of the above and other stories visit the IMDO Weekly Markets Review (Week 28) and also on Afloat.ie's dedicated Ports & Shipping News section.

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About The Author

Jehan Ashmore

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Jehan Ashmore is a marine correspondent, researcher and photographer, specialising in Irish ports, shipping and the ferry sector serving the UK and directly to mainland Europe. Jehan also occasionally writes a column, 'Maritime' Dalkey for the (Dalkey Community Council Newsletter) in addition to contributing to UK marine periodicals.

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