#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.