#Ports&Shipping –The latest IMDO Weekly Shipping Market Review includes the following stories as detailed below.
Irish Economy: Trade surplus increases - Preliminary figures released by the Central Statistics Office last week show that Ireland's seasonally adjusted trade surplus rose 1% to €3.2bn in August as exports increased to €7.6bn (+4%) and imports increased to €4.4bn (+7%). Despite these increases, in comparison to last year, the value of exports has decreased by 17% to €6.96bn, with particular declines in organic chemicals and pharmaceuticals.
Piracy: Attacks at 7-year low- Worldwide piracy incidents have fallen to their lowest year-to-date level since 2006, according to the International Maritime Bureau's latest piracy. The report records 188 piracy incidents for the first nine months of 2013, down from 233 for the same period in 2012, a drop of 19.3%. Hostage-taking has also fallen sharply, down 41.5% with 266 hostages taken this year as against 458 in the first three quarters of 2012.
Container:P3 may increase price competition and volatility- Investigation into the P3 alliance of Maersk Line, MSC and CMA CGM has concluded the alliance has the potential to increase rate volatility and induce higher price competition between carriers. Maritime consultants Alphaliner have highlighted that the P3 is only an operational alliance and that commercial competition remains.
For more on each of the above and other stories click the downloadable PDF IMDO Weekly Markets Review (Week 42). In addition to Afloat.ie dedicated Ports & Shipping News section.
