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IMDO Shipping Review: Irish Service Sector Growth, Capesize Rates High, Potential Eco-Ships Savings and much more

12th September 2013
IMDO Shipping Review: Irish Service Sector Growth, Capesize Rates High, Potential Eco-Ships Savings and much more

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

Irish Economy: Service sector growth - Fine summer weather, rising tourist numbers and continued signs of a growth saw Ireland's service sector grow at its fastest rate in 6 years in August.

The Investec Purchasing Managers' Index (PMI) measured services sector activity rise from 57.6 in July to 61.6 in August, the highest reading since February 2007 and well above the crucial 50 mark, which denotes that the activity level is expanding.

Bulker Market: Capesize Rates Hit High - The rates for the Capesize market have hit a year high of $19,811 as the Baltic Capesize Index surged 215 points to close at 2,660 last week. Backed by strong iron ore shipments from Brazil, Australia and South Africa into China, daily Capesize rates have risen by $1,957 since 4 September.

Container Market: Potential Savings of EcoShips - Eco designs for container ships could be the cost-saving future and make or break operators. A Hamburg conference has been told that a fuel-efficient design for a 9,000 TEU containership could save $2m a year, enabling it to reduce slot costs.

For more on each of the above and other stories click the downloadable PDF IMDO Weekly Markets Review (Week 36). In addition to 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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