#Ports&Shipping –The latest IMDO Weekly Shipping Market Review includes the following stories as detailed below.
Container Market: 24,000 TEU containership on the horizon - Work on building a 24,000 TEU containership–5,000 TEU bigger than the current largest vessel–is set to begin in just two years time, according to a leading maritime consultant. Seatrade Global reported that technical feasibility studies have been concluded and show that at-sea costs for a 24,000 TEU vessel would be 23.1% lower versus a 12,500 TEU vessel and 17.4% lower versus a 16,000 TEU vessel.
Tanker Market: US approves limited unrefined oil exports - The administration of US President Barack Obama has approved the limited export of ultra-light crude oil (or oil condensates) for the first time in over forty years, TradeWinds reported. Two firms–Pioneer Natural Resources and Enterprise Product Partners– were given permission by the Department of Commerce to export minimally processed ultra-light crude, known as condensates, from shale oil deposits in Texas.
Irish Economy: Motor sales drive May retail growth - The volume of retail sales rose 0.9% month-on-month in May, while increasing 6.2% compared with May 2013 according to the latest figures from the Central Statistics Office (CSO). Motor sales proved the main factor in this expansion, rising 4.6% compared with April. Excluding motor sales, month-on-month volumes would have contracted 0.5% and on an annual basis, would only have risen 3.2%.
For more on each of the above and other stories click the PDF downloadable IMDO Weekly Markets Review (Week 26). In addition to coverage on Afloat.ie's dedicated Ports & Shipping News section.
