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IMDO Shipping Review: Shannon Seek Deepwater Facility Operators, US Approve 2M Alliance, Global Capacity Threat and More

14th October 2014
IMDO Shipping Review: Shannon Seek Deepwater Facility Operators, US Approve 2M Alliance, Global Capacity Threat and More

#Ports&Shipping –The latest IMDO Weekly Shipping Market Review includes the following stories as previously reported on Afloat.ie, Dublin Port's Record Trade and Record Profits at Shannon Foynes Port Company plus stories below and more from the IMDO.

Shannon Estuary: Shannon Foynes Port Company- Seeking Deepwater Facility Operators – SFPC is beginning to recruit commercial operators for new deepwater facilities. It is planning to develop the facilities to handle the increase in the size of cargo vessels. Their maximum size is expected to go from 80,000 tonnes to 120,000 tonnes from next year as a result of the deepening of the Panama Canal, which will allow shipping companies to use much larger craft.

Container Market: Maersk secures 2M alliance approval in the US - The U.S. Federal Maritime Commission on Thursday approved an alliance that will carry about one-third of all cargo across the world's busiest ocean trade routes, made up of the world's two biggest container-shipping companies in terms of capacity. The so- called 2M alliance unites Maersk Line, a unit of Danish conglomerate A.P. Møller-Mærsk, and Switzerland-based Mediterranean Shipping Co.

Capacity: Capacity threat will cloud the next 12-18 months - Rates in global shipping could rise, but only moderately, in the next 12-18 months, and capacity will outstrip demand and limit the ability of shipping lines in three sectors to improve their operating earnings. Supply in the dry bulk sector is problematic as deliveries this year have been delayed. If the delays persist through 2015, it could aid the rates scenario. However, if they are simply pushed into next year, it could hurt.

For more on each of the above stories and other reports featured on the IMDO Weekly Markets Review (Week 41) click HERE..

In addition to Afloat.ie's dedicated Ports & Shipping News coverage.

 

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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