#Ports&Shipping –The latest IMDO Weekly Shipping Market Review includes the following stories as detailed below.
Container Market: FMC approve P3 Alliance –The US Federal Maritime Commission has granted regulatory approval for the P3 vessel-sharing agreement between the world's top three containerlines, Maersk, MSC and CMA-CGM; however the alliance will be subject to stricter monitoring than usual. The FMC approval is immediate however only applies to routes to and from US ports as the alliance still requires approval from Chinese and European regulators before it can become fully effective.
Irish Economy: Export growth positive in January - Irish exports grew in value terms by 4% (€302mn) in January compared with the same month last year signalling a tentative recovery in the sector following a 5.2% decline in 2013. The latest merchandise trade statistics released by the CSO showed exports of €7.031bn for January, driven by the chemical and pharmaceutical sectors growth of €223mn, up 6%, while food and live animals continued to record strong gains, with exports rising €59mn.
UK Short Sea Market: Record capacity reached - UK Short Sea Capacity in 2013 broke the 15m unit barrier once again, reaching 15.2m units (FEUs) and equating 2007's record capacity. The findings in PRB Associates' UK Short Sea Freight RoRo and LoLo Annual Capacity Analysis and Report show that capacity increased 3. 2% in 2013 and has grown 21% since 2000.
For more on each of the above and other stories click the downloadable PDF IMDO Weekly Markets Review (Week 12). In addition to coverage on Afloat.ie's dedicated Ports & Shipping News section.
