Displaying items by tag: IMDO Weekly Market Review
#Ports&Shipping -The latest IMDO Weekly Shipping Market Review reports that in the Irish Shipping sector there are plans under the New Ports Policy to radically overhaul Ireland's commercial ports and give Government a more hands-on role in the maritime ports sector were announced last week by the Department of Transport, Tourism & Sport.
The new National Ports Policy aims to harness the potential of every port in Ireland. Shareholders will be encouraged to take an activist approach to ensure the State gets best value from these crucial facilities, whether that shareholder is the Government or the local authority.
Container Market: Ultra-large containership deliveries slowed in the first few months of the year, sparking claims of a lower than forecast delivery rate for 2013, Lloyd's Loading List relayed last week. The latest report from shipbroker Braemar Seascope shows that only three containerships with capacity of 10,000 TEU or larger have been delivered in the first two months of the year. This compares with eight vessels of more than 10,000 TEU delivered during the last two months of 2012.
Shipping Industry: Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according to the latest survey from Moore Stephens. There was improved expectation of freight rate increases over the next twelve months, particularly in the dry bulk sector, and greater likelihood of new investment in the industry.
To read more of each of the above stories and other news from the IMDO Shipping Markets Review for Week 13, click HERE to be viewed or downloaded as a PDF
#Ports&Shipping -The latest IMDO Weekly Shipping Market Review reports that total exports in the Irish Economy last year hit their highest level ever at 16 per cent above the pre-crisis high, Enterprise Minister Richard Bruton has said. Mr Bruton said total exports were now at €182bn, after figures from the CSO showed a record trade surplus of €46bn.
Key Ports throughput in the Northern European Container Market witnessed a slight rise in throughput between December and January 2013, however, a year-on-year comparison shows total volume down 3.5 per cent, as noted by Drewry's Container Insight Weekly.
In the LNG Markets, there is rapid Chinese import demand as a newbuild order for 10 LNG carriers is in line with China Inc's strategy to ramp up its gas carrier ownership, as it becomes a more dominant presence in the industry. Japan, the industry's top importer is still way ahead of China, with annual imports of 87 million tonnes, compared to China's yearly imports of 15 million tonnes.
To read more of each of the above stories and other news, they can be viewed or downloaded as a PDF from the IMDO Shipping Markets Review for Week 12.
#Ports&Shipping -The latest IMDO Weekly Shipping Market Review reports that the world's largest container shipping line, Maersk Line, is looking to change its path for the trade lane of Asia to US East Coast, by opting for the Suez Canal as opposed to the current Panama Canal.
The re-routing is to take advantage of economies of scale, as Maersk will be able to send a vessel through the Suez Canal that can carry up to 9,000 TEU containers, which would be more cost-effective than sending two 4,500 TEU vessels through the Panama Canal.
Dry Bulk Market: On the back of increased cargo availability, the dry bulk market has maintained its rising momentum. The steady increase is illustrated in the weekly rise in the industry's benchmark, Baltic Dry Index (BDI), finishing at 872, up from 818 the previous week.
Short Sea Shipping: In the European Short Sea Market, as with most weeks lately, can be summarised as "steady/flat", according to HC Shipping & Chartering". However, this week highlighted the abundance of spot tonnage slightly more than most weeks, along with owner's eagerness to cover positions becoming more evident.
Irish Economy: Globalization Ireland has been ranked the world's third most globalised economy in terms of GDP, and the most globalised nation in the western world, according to a new index published by Ernst and Young. The index is measured by a country's openness to trade, movement of capital, exchange of technology and ideas, labour movements, and cu ltural integration. Ireland finished third behind Hong Kong and Singapore, but ahead of Switzerland, Sweden, Denmark, Belgium and the UK.
To read more and other stories, they can be viewed or downloaded as a PDF from the IMDO Shipping Markets Review for Week 11.
#Ports&Shipping -The latest IMDO Weekly Shipping Market Review reports that Irish industrial production fell by almost 2 per cent in January, compared to the previous month, in line with weakening trend in industry since mid-2012, according to data released by the Central Statistics Office (CSO).
European Ports: Throughput at northern European ports will grow by 1.8% in 2013, after a decline of 0.8% last year, according to the latest North Europe Global Port Tracker report.
Container Market: Asia-Europe trade volumes lane experienced their first year-on-year increase in almost a year, according to Container Trade Statistics. The latest data reveals that westbound volumes on the Asia to Europe trade increased by 2.5% year on year in January to reach 1.3m TEU.
The complete IMDO Shipping Markets Review for week 10 is available as a PDF to read or download HERE.