#Ports&Shipping –The latest IMDO Weekly Shipping Market Review includes the following stories as detailed below.

Europe: Modest recovery for EU Beef production-Beef output across Europe will experience a modest recovery next year according to Bord Bia. Output across the EU-15 region is expected to increase by approximately 1% in 2014, following an estimated
drop of 2.2% in the current year. While notable producers France and Italy are set to experience significant falls in output this year (3% and 8% respectively), growth in Ireland –along with the Netherlands and Belgium –has partly offset falling output.

Shipping Routes: Northern Sea gaining popularity- The Northern sea route from Russia and Europe to the Far East has gained further popularity this year with record cargoes according to Fairplay. For the year-to-date 63 ships have used the route, up from 46 in 2012 as a whole. Marco Graziotto, director of Arctic Bulk, a consultancy providing assistance on the route explained the route was gaining favour due to shorter sailing times and better security.

Tanker Market: VLCC outlook positive - The Very Large Crude Carrier (VLCC) market
continues to experience high earnings, with rates higher than $50,000 per day on the industry's main route from the Middle East to Asia, as Saudi Arabia has increased production of crude to record levels to offset the loss of Libyan output.

For more on each of the above and other stories click the downloadable PDF IMDO Weekly Markets Review (Week 48). In addition to Afloat.ie dedicated Ports & Shipping News section.