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

Shipping Finance: Worst annual losses for largest maritime lender - HSH Nordbank, the world's largest maritime lender, revealed losses recently of €814 million for 2013, an 18% increase on 2012 losses. The Financial Times reported the reasons for the increase were raised loan loss provisions for the bank's sizeable shipping portfolio during the closing months of last year, in addition to the costs of €902 million for a state guarantee of €10bn from the German states of Hamburg and Schleswig-Holstein.

Irish Economy: Trade surplus increases on stronger exports -Ireland's trade surplus rose 4% in February as a result of stronger exports and the subsiding effects of the pharmaceutical patent cliff. Exports rose 1% (+€57mn) on a seasonally adjusted basis, compared with the previous month. Year-on-year figures meanwhile showed exports increased 3% (+€168mn) compared with February 2013, owing primarily to double-digit growth in food & live animal and essential oils exports.

Global Economy: WTO raise forecast for trade growth -The World Trade Organisation has raised its forecast for global growth in merchandise trade for 2014 to 4.7%, up from last September's estimate of 4.5%. The main drivers for this upward revision have been the accelerating global recovery combined with upturns in the US and key European economies. The raised forecast contrasted with the views of several trade economists who had instead predicted a downgrading of the earlier forecast of 4.5%, while the WTO acknowledge that "Downside risks to trade abound."

For more on each of the above and other stories click the downloadable PDF IMDO Weekly Markets Review (Week 16). In addition to coverage on Afloat.ie's dedicated Ports & Shipping News section.

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

Irish Economy: Trade surplus increases - Preliminary figures released by the Central Statistics Office last week show that Ireland's seasonally adjusted trade surplus rose 1% to €3.2bn in August as exports increased to €7.6bn (+4%) and imports increased to €4.4bn (+7%). Despite these increases, in comparison to last year, the value of exports has decreased by 17% to €6.96bn, with particular declines in organic chemicals and pharmaceuticals.

Piracy: Attacks at 7-year low- Worldwide piracy incidents have fallen to their lowest year-to-date level since 2006, according to the International Maritime Bureau's latest piracy. The report records 188 piracy incidents for the first nine months of 2013, down from 233 for the same period in 2012, a drop of 19.3%. Hostage-taking has also fallen sharply, down 41.5% with 266 hostages taken this year as against 458 in the first three quarters of 2012.

Container:P3 may increase price competition and volatility- Investigation into the P3 alliance of Maersk Line, MSC and CMA CGM has concluded the alliance has the potential to increase rate volatility and induce higher price competition between carriers. Maritime consultants Alphaliner have highlighted that the P3 is only an operational alliance and that commercial competition remains.

For more on each of the above and other stories click the downloadable PDF IMDO Weekly Markets Review (Week 42). In addition to Afloat.ie dedicated Ports & Shipping News section.