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Displaying items by tag: IMDO

#DublinsSister Cielo di San Francisco a 37,000 dwt 'Handysize' dry-bulker docked in Cork's Ringaskiddy Deepwater Terminal from New Orleans, she is operated by Dublin based d'Amico Dry, writes Jehan Ashmore. 

She along with a sister Cielo di Dublino, as previously reported in 2011, where acquired by d'Amico Dry, which is a subsidiary of the Italian d'Amico Group.

The christening ceremony of Cielo di San Francisco was performed by Mrs. Sandra Murphy, wife of Mr. Glenn Murphy, Director, Irish Maritime Development Office (IMDO).

The Liberian flagged vessels cost around US $60 million and were completed in South Korea at the Hyundai Mipo Dockyard (HMD) in Ulsan. The ships principle dimensions are 182m long, 27m beam and a 10.4m draught.

The entry by d'Amico Group into the dry-bulkers market had marked an important chapter since the subsidiary established an Irish office in 2002, as the vessels are managed from its Dublin office under the Irish Tonnage Tax (ITT) regime.

d'Amico Dry is engaged in chartering activities also in Monaco, Singapore, Vancouver and Stamford (US). Its core fleet is focused on Panamax, Supramax and Open Hatch/Box Shaped Handy size vessels, consists of a mixture of owned and long-term time chartered vessels.

Cielo di San Francisco is scheduled to depart Cork Harbour this evening and dock in Dublin Port tomorrow.

 

Published in Ports & Shipping

#IrishShippingSector – Irish based shipping companies in 2012 experienced a challenging year with operations in both the domestic and international shipping markets, according to the Irish Maritime Development Office (IMDO).

Against this turbulent backdrop, the number of vessels being owned, controlled, managed and operated from Ireland remained steady at 340 vessels last year. The IMDO estimate that employment at these firms increased by 5% last year.

A key element in the overall stability of this segment of the Irish maritime sector has been the constant presence of the Irish Tonnage Tax regime which was the introduced in 2002.

Since the scheme began the IMDO has seen a reversal of a previous decline in the indigenous ship owning sector which has been followed by a steady growth and investment programme.

The scheme has gone from approximately 40 vessels to just over 300 vessels, owned, managed and operated by companies located in Ireland.

Latest data indicates that over 56% of the fleet is made up of dry bulk carriers, 21% tanker and 12% container with other Ro/Ro and other specialised vessels making up the remainder of the fleet.

The age profile of the fleet indicates that it is also a modern fleet with 70% of the vessels less than 10 years old and more than 52% under five years.

The industry's growth in Ireland has been driven both by established Irish shipping companies and also by foreign inward investment by overseas firms.

The Tonnage tax has made a positive economic contribution to Ireland and to the shipowning sector in Ireland. It has resulted in the creation of new jobs and investment opportunities for over 600 people and continues to grow.

The IMDO estimate that over €3 billion of shipping assets are managed and controlled from Ireland with more than 100 new direct jobs being created over the last three years alone.

In The Irish Times (dated 24 May) Top 1000 companies in Ireland this included a top 100 transport related companies.

The IMDO analysis indicates that 29 companies listed are engaged in shipping, ports and maritime logistics that had a combined turnover of €4.5bn employing 4700 people. Six Irish Shipping and leasing firms made the top 1000 companies last year.

 

Published in Ports & Shipping

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

Container Market: SCFI rates diverge - According to figures from the Shanghai Containerised Freight Index (SCFI), spot box rates for long-haul cargoes from China are diverging. Fairplay have reported that due to sluggish demand and high capacity, Asia-Europe rates continued to decline last week. Rates to Northern Europe fell 9% to $668 per TEU, with a very notable drop of 35% to $779 per TEU for shipments to the Mediterranean.

Tanker Market: Product recovery - The opening of Saudi Arabia's new refinery on the coast of the Middle East Gulf points towards a recovery for the product tanker market, as noted by Lloyd's List. According to the International Energy Association, the 400,000 barrel per day Jubail refinery is part of an influx of new Saudi refineries, which will hugely influence global trade in refined oil products.

Dry Bulk Market: Fleet growth slows - It is forecast that the global fleet of ships that carry minerals and grains will expand at its slowest pace in a decade, according to DNB Markets. The fleet will most likely expand by 5% in 2014, slower than the 7% expansion experienced for 2013. This provides some optimism for the dry bulk fleet, as tonne-mile demand will rise by 10% in 2013 and outpace fleet growth for the first time in six years.

For more of the above visit the IMDO Weekly Markets Review (Week 21) and also on Afloat.ie's dedicated Ports & Shipping section

Published in Ports & Shipping

#FodderShipments – As Irish Farmers struggle with one of the worst fodder crisis in over 50 years, ports across the country have seen unprecedented levels of animal feed imports, according to the Irish Maritime Development Office (IMDO).

Most of the State's ports have seen notable throughput increases since the third quarter of 2012, after a poor summer period for farmers. The IMDO noted that the first quarter of 2013 saw volumes of animal feed increase by over 80% in terms of bulk shipments, on the corresponding period last year.

In the recently published Irish Maritime Transport Economist, the IMDO reported substantial annual growth in animal feed imports, which increased by 34% during 2012.

A number of farming interest groups have come together to support the importation of animal feed from the UK and France in recent months, resulting in increased activity on Irish Sea ferry services, particularly over the last three weeks.

The IFA sourced the first consignment of hay from France which arrived at Rosslare Europort on the 9 May aboard the ro-pax ferry Celtic Horizon.

During this month's bank holiday, ports also recorded increased fodder imports from bulk shipments.

The western and northern parts of the country appear most severely impacted and it is anticipated that fodder will continue to steadily arrive at Irish ports for the foreseeable future.

 

Published in Ports & Shipping

#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.

 

Published in Ports & Shipping

#Ports&Shipping -The latest Weekly Shipping Market Review from the Irish Marine Development Office (IMDO) reports that Asia will be a key trading partner in future Irish export growth according to a report from HSBC Global Connections.

Research from the bank predicts that China will overtake France and Japan to become Ireland's fourth largest export destination by 2030.

In the weekly summary from the Short-Sea Shipping sector, there has been a gradual and steady decline since around the end of October last year, there appears to be signs of rates levelling over the past few weeks, with overall rates remaining stable although pressure remains downwards

Germany's merchant fleet, the third largest in the world, is experiencing stalling growth, as liquidity and capital shortages are taking their toll. The level of tonnage owned and managed by the German fleet is declining for the first time in a decade, according to German Shipowners' association VDR.

The complete IMDO Shipping Markets Review for week 9 is available as a PDF to read or download HERE.

 

Published in Ports & Shipping

#Shipping - The latest Weekly Shipping Market Review from the Irish Marine Development Office (IMDO) reports of strong Asia trade in the container market, and a growing sense of optimism among clean product tankers.

Container trade growth is expected to rise to 6.1 per cent in 2013 driven in part by strong business in Asia, which will see some modest growth at a slower pace than elsewhere throughout the year.

Demand in the tanker market is highest among smaller vessels and those handling clean products, while the crude oil market faces "another challenging year". Profits for product tankers in the Atlantic basin are up, and the fleet is looking forward to a year of growth.

The flipside of this is that more and more ships are facing a future in the scrapyard as the dry bulk market continues to stagnate and shipowners race to cut their costs.

The complete Shipping Markets Review for week 7 is available as a PDF to read or download HERE.

Published in Ports & Shipping

#Shipping - The European Shortsea Conference will take place for the first time in France on Thursday 14 March 2013.

Shortsea 13 at La Defense in Paris is organised by the Bureau de Promotion du Shortsea Shipping (BP2S) and SPC France jointly with other European Shortsea promotion centres - and comes just weeks after the Euromaritime exposition that kicks of tomorrow in the French capital.

The conference will cover a number of hot topics related to shorts and intermodal intra-european transport, the challenges that exist and are yet to come, and what solutions can be found.

And like last year's event, hosted in Dublin by the Irish Maritime Development Office (IMDO) and Coastlink, the convention will provide a platform to network, discuss and debate issues shared by European shipping partners.

Organisers say that contributors are still welcome to take part as speakers (e-mail [email protected] for more) or sponsors (contact [email protected] for details).

Registrations will open soon for those wishing to attend as delegates. Keep an eye on the Shortsea 13 blog or find more information on the European Shortsea Network at www.shortsea.info.

Published in Ports & Shipping

#Shipping - The latest Weekly Shipping Market Review from the Irish Marine Development Office (IMDO) reports of a strong rise in earnings in the tanker market despite a reduction in activity for December 2012.

Demand for VLCC and Aframax tankers in the Arabian Gulf experiences the steepest decline, of 37% and 45% respectively - though the market as a whole was still able to finish above the two-year average.

The dry-bulk market is also expected to exceed fleet growth in the latter half of this year, with day rate for Panamax class vessels set to increase by 12.5%.

Closer to home, plans are in the works to extend a Finnish scheme to support investment in cleaner shipping in the European Union.

Amendments to the scheme are aimed at stricter rules that will apply to marine fuel when the Sulphur Emission Control Area - comprising the English Channel, North Sea and Baltic Sea - comes into force in 2015.

The complete Shipping Markets Review for week 4 is available as a PDF to read or download HERE.

Published in Ports & Shipping

#PORT & SHIPPING – According to the Irish Maritime Development Office (IMDO) the volume of port and shipping traffic through the Republic of Ireland remained relatively stable in the third quarter of 2012.

The latest analysis of the traffic data indicates that two of the five principal freight segments returned to growth in the third quarter, two declined and one remained unchanged.

Lift-on/lift-off (Lo/lo) trades declined 2%

Container traffic (Lo/lo) has declined by 2% during the third quarter of this year. Exports, as a subset of these figures fell for the second consecutive quarter, declining by 3% as weaker demand conditions prevailed, particularly in the Euro zone area. However, exports to other markets in Asia, South Africa, and both North and Latin America remained relatively firm. Imports declined by 1%, representing the 19th consecutive quarter of declining import volumes. However, the rate of decline in this segment has eased considerably over the course of 2012, possibly indicating the market might be finally bottoming out.

Roll-on/Roll-off (Ro/ro) traffic was unchanged at 0%

Roll-on/roll-off (ro/ro) traffic remained unchanged in the Republic of Ireland for Quarter 3 compared to the same period last year. The majority of ro/ro freight from Ireland is destined for Great Britain which continues to underperform, with leading economic indicators recording weaknesses in the retail and manufacturing sectors. Nonetheless, this is a slight improvement for this shipping market segment having recorded two consecutive quarterly declines earlier this year.

Dry bulk volumes increased by 13%

Dry bulk shipments, which make up the largest volume of traffic throughput at Irish ports, grew by 13% during the third quarter of 2012. Improved domestic demand for agricultural products contributed to the rise while exports of ores and other industrial commodities also performed well.

Tanker/Liquid bulk market increased by 9%

Liquid bulk volumes of tanker based petroleum products increased by 9% in the third quarter. This increase was primarily as a result of large volumes of crude oil being transhipped at Bantry Harbour's oil storage facilities. Excluding Bantry, volumes would have seen a decline of 8% in Quarter 3, which perhaps more accurately reflects domestic demand for petroleum products.

Break bulk volumes down by 10%

Break bulk volumes, which represent the smallest segment of the domestic market, continued to decline into Quarter 3, falling by 10% with no rise in demand for construction related materials such as steel or timber. Demand in this segment remains at historically low levels.

Outlook: The outlook for the remainder of the year appears to suggest slightly improved conditions in both import and export volumes. This is as a result of a modest pick up in seasonal trade observed during October and early November. Nonetheless, market demand conditions going forward into 2013 remain challenging. The Euro-zone officially entered into its second recession since 2009 during the third quarter this year, while continued uncertainty regarding Greece and some other member states still remains.

Globally, much focus has been on the slowdown in the Chinese and other Asian economies. The Irish growth forecast has also been revised downwards for 2013. Sentiment amongst major shipping lines and shipowners remains low. Many shipowners have to deal with a large over supply of shipping capacity in almost all sectors along with weak underlying trade demand, increased operating costs and record low charter markets.

Published in Ports & Shipping
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