#Ports&Shipping –The latest IMDO Weekly Market Review includes the following stories as detailed below.
Irish News: Sligo Harbour Dredging Difficulties - Earlier this year, the Department of the Environment granted a licence to Sligo council to allow them to undertake dredging works at Sligo Harbour. However, Councillors were told that the money required for the next stage of Sligo Harbour acquiring its Dumping at Sea Licence was not available.
Legislation: IMO Council agrees recommendations to reduce administrative burdens - The International Maritime Organisation's (IMO) Council agreed on a number of recommendations for action on the administrative burdens that may result from compliance with IMO instruments. The consultation gathered data from a broad spectrum of stakeholders. IMO recognizes that some administrative requirements may have become unnecessary, disproportionate or even obsolete, and is committed to reducing their impact.
Tanker Markets: Storage Boom for Tankers from Oil Price Collapse - The oil price drop will hand tanker markets an unexpected bonus next year, boosting demand for oil storage at sea while distant eastern markets also bargain-hunt fuel and need shipping. Supertanker rates are already close to five-year highs of over $83,000 a day - helped by a drop in shipping fuel bunker prices.
International Ports & Shipping: Safeguarding the Arctic -The US Coast Guard has proposed a new shipping channel in the Bering Strait to protect Arctic seas. The 4.6-mile-wide route will be a two-way voluntary scheme stretching hundreds of miles as traffic increases in the area.
Alliances: Mega-alliance Agreements - From early next year the east – west container shipping trades will be almost completely dominated by four alliances. The 2M the vessel sharing agreement between Maersk Line and Mediterranean Shipping Co (MSC) recently unveiled its service network which will be phased in from mid-January, as will the Oceans Three alliance of CMA CGM, UASC and China Shipping.
For more on each of the above and other stories click the IMDO Weekly Markets Review (Week 50). In addition to dedicated coverage on Afloat.ie's Ports & Shipping News section.
