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IMDO Weekly Review: Ireland’s BRIC Potential, Container Over Capacity and Artic Shipping Growth

29th July 2013
IMDO Weekly Review:  Ireland’s BRIC Potential, Container Over Capacity and Artic Shipping Growth

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

Irish Economy: BRIC potential - Some 40% of Enterprise Ireland's overseas offices are now in the so-called BRIC nations of Brazil,Russia, India and China or the Asia Pacific region because of the significant potential for export growth. Enterprise Ireland's outgoing chief executive Frank Ryan said the level of staff based in countries outstrips the current trade levels because of the growth potential.

Container Market: Global Over –capacity. The delivery of ultra-large container vessels on the Asia-Europe trade is continuing to cause rate weakness on other trade lanes, reported Lloyd's List last week. According to Alphaliner, 1.3m TEU of new containership capacity has been delivered over the last year, with 622,000 TEU allocated to Asia-Europe services.

Artic Shipping: Growth ahead - Arctic shipping is set for a record year as melting sea ice raises the prospect of substantial fuel savings, according to the Financial Times. To date, permission has been granted to 204 ships to sail this year. Last year, only 46 ships sailed the entire length from Europe to Asia, up from four vessels just two years earlier.

For more of the above and other stories visit the IMDO Weekly Markets Review (Week 30) and also on Afloat.ie's dedicated Ports & Shipping News section.

 

Published in Ports & Shipping
Jehan Ashmore

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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