Displaying items by tag: 'Box' Rates Decrease

29th October 2014

IMDO Shipping Review: Cork Port Achieves Environment Certificate, 'Box' Rates Decrease,Tankers Target Threat, Scrubbers Most Economic and More

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

Irish Ports: Cork Port Receives Recognition for High Environmental Standards – (as previously reported on Afloat.ie), the European Sea Ports Organisation (ESPO) was delighted to congratulate the port of Cork, for achieving the Port Environmental Review System (PERS) certification. The port's fourth consecutive occasion to be awarded a PER certification since its inititial launch in 2006.

Container Market: Analysts predict rise in volume but decrease in rates for 2015, as operators look to GRI's for improvements. Drewery's expect growth across major trade lanes to hit a "relatively positive" year-on-year 5.5% in 2015 in its Outlook for Container Shipping Webinar presentation on Thursday. However Drewry's predicted that average rates will decline by 3-4% globally next year, highlighting the need for operators to cut costs.

Tanker Market: Al-Qaeda targets tankers - Security contractors believe tankers and other types of commercial tonnage could become increasingly attractive targets for Islamic terrorists in the months ahead. On Monday MAST joined the growing list of firms that are warning clients to be vigilant in the wake of reports that Al-Qaeda is urging followers to take aim at tankers bound for the West.

Environment: Scrubbers Are the Most Economic Option for Shipowners - Scrubbers are the most economic option for companies looking to become compliant with Emission Control Area (ECA) regulations. Scrubbers, which are outfitted on engines to remove sulphur from heavy marine fuel, are the least disruptive method to meet the regulations. Beginning 2015, sulphur content in marine fuel used in ECAs will not be allowed to exceed 0.10 per cent.

For more on each of the above and other stories click HERE for IMDO Weekly Markets Review (Week 43). In addition to coverage on Afloat.ie's dedicated Ports & Shipping News section.

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Competitions

The most significant events for the Half Ton Class has been the annual Half Ton Cup which was sailed under the IOR rules until 1993. More recently this has been replaced with the Half Ton Classics Cup. The venue of the event moved from continent to continent with over-representation on French or British ports. In later years the event is held biennially. Initially, it was proposed to hold events in Ireland, Britain and France by rotation. However, it was the Belgians who took the ball and ran with it. The Class is now managed from Belgium.