IMDO Weekly Review: Irish Manufacturing Surge, Weak N.Europe Shipping Trade, Container Season Wanes

6th August 2013

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

Irish Economy: Surge in Manufacturing - New export orders for Irish manufacturing companies grew in July for the first time in five months. The Investec Manufacturing Purchasing Managers' Index (PMI) increased from 50.3 in June 2013 to 51.0 in July, making it the first rise above the 50 mark dividing growth from contraction since February.

European Shipping: Weak Trade Prospects - The latest global port tracker for North Europe says that trade prospects are not improving despite there being a few short term hopeful signs. This is mainly due to the slowdown in China's growth rate. Experts are predicting that the Northern European market will remain on a downward slope as China's anaemic growth impacts the export scene as much as the recession, which will negate any hope of a peak season.

Container Market: Peak Season on the Wane - The peak season of the east-west trades no longer means a big surge in cargo volumes, ensuring big implications for carriers and shippers according to Drewry. The way that this year's peak season in the Northern Hemisphere is shaping up, ocean carriers should not count too much on a significant revenue boost in 3Q of 2013.

For more of the above and other stories visit the IMDO Weekly Markets Review (Week 31) and also on Afloat.ie's dedicated Ports & Shipping News section.

Published in Ports & Shipping

Tagged under

About The Author

Jehan Ashmore

Email The Author

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.

We've got a favour to ask

More people are reading Afloat.ie than ever thanks to the power of the internet but we're in stormy seas because advertising revenues across the media are falling fast. Unlike many news sites, we haven’t put up a paywall because we want to keep our marine journalism open.

Afloat.ie is Ireland's only full–time marine journalism team and it takes time, money and hard work to produce our content.

So you can see why we need to ask for your help.

If everyone chipped in, we can enhance our coverage and our future would be more secure. You can help us through a small donation. Thank you.