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Displaying items by tag: IMDO Weekly Review

#IMDOreview - The Irish Maritime Development Office (IMDO) latest Weekly Market Review has among the following stories below.

Irish Maritime News: The Environmental Protection Agency (EPA) received a record number of submissions in relation to Dublin Port's Dumping Plan as reported on Afloat.ie following the port's most recent application to dump spoil in Dublin Bay.

Global Maritime News: E.U Ministers Agree to Implement TEN-T - The EU transport ministers convened at the first day of the TEN-T Days in the Van Nelle Factory in Rotterdam on Tuesday of this week.They discussed the process of implementing the Trans-European Transport Network: new challenges and opportunities, new technologies and mobility patterns for passengers, as well as digitalization and automation of freight transport.

Leaders of the U.K Shipping Industry Concerned with Brexit - Members of the U.K.’s shipping community are concerned about the future of London’s role as a global centre of ship financing, brokering and insurance in the case of a British exit from the European Union.

Although the U.K. has long lost its status as the world’s top ship-owning nation, the maritime business contributes an annual $6.5 billion to the economy, with some 80% of business from abroad, according to PricewaterhouseCoopers.

For more on the above stories and other news items, click here and Afloat.ie's Ports & Shipping news here.

Published in Ports & Shipping

#IMDOreview -The Irish Maritime Development Office (IMDO) returns with its Weekly Market Review and among the following stories are outlined below.

Irish Maritime News: Irish Continental Group Purchase Four Containerships -The Dublin headquartered Irish Continental Group as reported by loadstar.ie, took advantage of weak market conditions to snap up the 980 teu Elbfeeder, Elbtrader and Elbcarrier, paying just $21.8m for the seven-year-olds, from their German KG owner, and $5m for the 2005-built 800 teu Jork Ranger.

For further details on the acquisition as previously reported on Afloat.ie, click here.

Global Maritime News: United States Government Increase Maritime Security in Southeast Asia - The United States is boosting maritime securityassistance to Southeast Asia, the White House announced on Tuesday.

In total, a statement commissioned by the White House said that the United States is committing $119 million in fiscal year 2015 (FY 2015) and will seek to provide $140 million in assistance the following year subject to appropriation, totalling over $250 million over two years.

Tanker Market: Canada Bans West Coast Crude Oil Tankers - Canada's new Liberal government has moved to implement a ban on crude oil tankers along the country's West Coast, a recently released directive to the country's new Minister of Transport Marc Garneau has revealed.

In the mandate letter, new Canadian Prime Minister Justin Trudeau directed the Transport Ministry to "Formalize a moratorium on crude oil tanker traffic on British Columbia's North Coast" - a region that includes a number of ports including Prince Rupert and Kitimat.

For more on the above stories and other news items, click the IMDO Market Review (Week 48) here.

In addition to further dedicated coverage visit Afloat.ie's Ports & Shipping news.

Published in Ports & Shipping

#Ports&Shipping – The latest Irish Maritime Development Office (IMDO) Weekly Market Review includes the following stories outlined below.

Irish Maritime News: Marine Sector to Double Contribution to GDP by 2030 - Irish marine industries can exceed €6.4bn a year in turnover by 2020 and increase their contribution to GDP to 2.4% by 2030, states a new national roadmap for the sector.

The 'Harnessing Our Ocean Wealth' report analyses market and non-market opportunities. The report's authors state Ireland has vast potential to tap into a €1,200bn global marine market for seafood, tourism, oil, gas, marine renewable energy, and new applications for health, medicine and technology.

Global Maritime News: 13% of Global - Shipping Traffic Moved by Mediterranean Ships. According to a study published by the economic research group Studi e Ricerche per il Mezzogiorno (SRM), the Mediterranean currently hosts 13% of global shipping traffic, a gain of four percentage points over 2005.

Emissions: Visedo Wins Contract for World's - Largest Battery Ferry Finnish company Visedo is providing the propulsion system for the world's largest all-electric ferry, under construction at Søby Shipyard in Denmark. The company's system was chosen over a similar offering by Siemens, the previous candidate for the delivery.

For more of the above stories and much more click the IMDO Market Review (Week 24) here.

In addition to further dedicated coverage visit Afloat.ie's Ports & Shipping news.

Published in Ports & Shipping

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

Irish Maritime News: "Many benefits" to Bantry Inner Harbour Development – A steady stream of interested parties were drawn to a public information meeting held by the Bantry Bay Port Company to outline development plans as previously reported on Afloat.ie.

The Port of Cork said: "Phase 1 of the Bantry Inner Harbour Development which the Port of Cork will undertake on behalf of its subsidiary company, Bantry Bay Port Company, which is likely to cost €8.5m".

Global Maritime News: World's largest container ship enters the Panama Registry - The Panama Maritime Authority (AMP) has announced that the Merchant Marine Department has inscribed in the Panama Registry the world's largest container ship, the MSC Oscar. The AMP says this is a reflection of the effort made by the present administration, to attract newly built vessels.

Container Market: Asia-Europe box rates drop 13% in a week - The cost of shipping containers from Asia to Europe continues to slide, with spot rates tumbling another 13% over the past week. The question now is whether general rate increases that were due to take effect on April 1 are able to reverse the current downwards cycle.

Technology: The CMA CGM Group is launching the first real-time container tracking mobile application for clients - The CMA CGM Group, world's leading container shipping companies, is pleased to announce the launching of its first mobile application offering a follow-up solution and real time data collecting on the container's position, the upcoming vessels departures and other services by CMA CGM.

For more of each of the above stories and much more click the IMDO Market Review (Week 15) HERE.

In addition to further coverage from Afloat.ie's dedicated Ports & Shipping news by clicking HERE.

Published in Ports & Shipping

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

Aoife: Ireland is proceeding with the planned donation of the LE Aoife to Malta to assist in humanitarian work despite reports that members of the armed forces of Malta described the recently decommissioned Irish ship as outdated. 

Port of Cork: Umbrella group backs Port of Cork's plan for €100m terminal upgrade - An umbrella organisation which represents more than 1,800 community groups has put its weight behind the Port of Cork's plans for a €100m upgrade of its deepwater terminal at Ringaskiddy.

Global Maritime News: US ports back in action - The Pacific Maritime Association and the International Longshore and Warehouse Union announced a tentative agreement on a new five-year contract covering workers at all 29 West Coast ports. The deal was reached with assistance from US Secretary of Labor Tom Perez and Federal Mediation and Conciliation Service Deputy Director Scot Beckenbaugh. The parties will not be releasing details of the agreement at this time. The agreement is subject to ratification by both parties.

Containers: Maersk posts record profit -The company said net earnings were $5.19bn, from $3.77bn in the previous 12 months. Of this, $2.85bn came from discontinued operations, mainly the sale of its Danish supermarket business, compared to $394m the year before. Revenue edged up to $47.56bn versus $47.38bn in 2013.

For more on each of the above and other stories click IMDO Weekly Markets Review (Week 9).

In addition to dedicated coverage on Afloat.ie's Ports & Shipping News. Including a report of the largest ever ship (Munkebo Maersk) to call to the Thames at the new London Gateway.

Published in Ports & Shipping

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

Irish Economy: Manufacturing rises-Irish manufacturing saw its first improvement in four months during June, according to the latest monthly purchasing managers' index, which increased from 49.7 points to 50.3 points. The 50+ reading was largely anticipated, but wider positivity among respondent companies has led commentators to suggest the sector's growth might be sustainable.

EU Shipping Industry: Proposals welcomed -European shipowner and port bodies have welcomed the EC's proposals to ease customs formalities at EU ports, according to Fairplay. The scheme would put the proposals in place as of 2015, as part of an attempt to streamline port functioning to move toward a single EU shipping market. The moves would upgrade further an existing simplified customs regime available to intra-EU shipping lines.

Dry Bulk Market: Vessel prices -Rising prices for second-hand dry bulk vessels point to a turnaround in the industry, according to Market Realist. During May, the average prices for 15-year-old panamax, handymax/supramax, and handysize ships rose to an eight-month high. As companies can sell and purchase 15-year-old ships in the market right away - unlike new builds - price movements in 15-year-old ships reflect market fundamentals.

For more of the above visit the IMDO Weekly Markets Review (Week 27) and also on Afloat.ie's dedicated Ports & Shipping News section.

 

Published in Ports & Shipping

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

Irish Economy: Agri-food exports - Irish agri-food will meet its goal of reaching €12bn annual exports by 2020, according to Irish Exporters Association chief executive Colin Lawlor. Irish food and drink exports have grown 26% in the last three years, totalling a record €9.2bn in 2012. The sector now accounts for about 10% of total exports. Mr Lawlor said agri-food is one of Ireland's most important indigenous manufacturing sectors, accounting for the employment of some 160,000 people.

Newbuilding: Two year high - Newbuilding orders reached 222 ships totalling over 15m dwt in May, a level not seen since May 2011, Fairplay reported last week, quoting shipbroker Golden Destiny. Invested capital exceeded $11.8Bn, although the contract price was not revealed for 85 orders, the shipbroker said.

Container Market: Rates slump - Global freight rates fell by 9% in May, marking a 17-month low, according to Drewy's Global Freight Index. While the bulk of the fall-off stemmed from weakness on the east-west routes and particularly westbound rates on the Asia Europe trade lane, poor load factors led rates to weaken on other major trade routes as well. Bucking the trend, however, was the Intra-Asia market, which remained stable over the month.

For more of the above visit the IMDO Weekly Markets Review (Week 25) and also on Afloat.ie's dedicated Ports & Shipping News.

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

Ireland's Offshore Renewable Energy

Because of Ireland's location at the Atlantic edge of the EU, it has more offshore energy potential than most other countries in Europe. The conditions are suitable for the development of the full range of current offshore renewable energy technologies.

Offshore Renewable Energy FAQs

Offshore renewable energy draws on the natural energy provided by wind, wave and tide to convert it into electricity for industry and domestic consumption.

Offshore wind is the most advanced technology, using fixed wind turbines in coastal areas, while floating wind is a developing technology more suited to deeper water. In 2018, offshore wind provided a tiny fraction of global electricity supply, but it is set to expand strongly in the coming decades into a USD 1 trillion business, according to the International Energy Agency (IEA). It says that turbines are growing in size and in power capacity, which in turn is "delivering major performance and cost improvements for offshore wind farms".

The global offshore wind market grew nearly 30% per year between 2010 and 2018, according to the IEA, due to rapid technology improvements, It calculated that about 150 new offshore wind projects are in active development around the world. Europe in particular has fostered the technology's development, led by Britain, Germany and Denmark, but China added more capacity than any other country in 2018.

A report for the Irish Wind Energy Assocation (IWEA) by the Carbon Trust – a British government-backed limited company established to accelerate Britain's move to a low carbon economy - says there are currently 14 fixed-bottom wind energy projects, four floating wind projects and one project that has yet to choose a technology at some stage of development in Irish waters. Some of these projects are aiming to build before 2030 to contribute to the 5GW target set by the Irish government, and others are expected to build after 2030. These projects have to secure planning permission, obtain a grid connection and also be successful in a competitive auction in the Renewable Electricity Support Scheme (RESS).

The electricity generated by each turbine is collected by an offshore electricity substation located within the wind farm. Seabed cables connect the offshore substation to an onshore substation on the coast. These cables transport the electricity to land from where it will be used to power homes, farms and businesses around Ireland. The offshore developer works with EirGrid, which operates the national grid, to identify how best to do this and where exactly on the grid the project should connect.

The new Marine Planning and Development Management Bill will create a new streamlined system for planning permission for activity or infrastructure in Irish waters or on the seabed, including offshore wind farms. It is due to be published before the end of 2020 and enacted in 2021.

There are a number of companies aiming to develop offshore wind energy off the Irish coast and some of the larger ones would be ESB, SSE Renewables, Energia, Statkraft and RWE.

There are a number of companies aiming to develop offshore wind energy off the Irish coast and some of the larger ones would be ESB, SSE Renewables, Energia, Statkraft and RWE. Is there scope for community involvement in offshore wind? The IWEA says that from the early stages of a project, the wind farm developer "should be engaging with the local community to inform them about the project, answer their questions and listen to their concerns". It says this provides the community with "the opportunity to work with the developer to help shape the final layout and design of the project". Listening to fishing industry concerns, and how fishermen may be affected by survey works, construction and eventual operation of a project is "of particular concern to developers", the IWEA says. It says there will also be a community benefit fund put in place for each project. It says the final details of this will be addressed in the design of the RESS (see below) for offshore wind but it has the potential to be "tens of millions of euro over the 15 years of the RESS contract". The Government is also considering the possibility that communities will be enabled to invest in offshore wind farms though there is "no clarity yet on how this would work", the IWEA says.

Based on current plans, it would amount to around 12 GW of offshore wind energy. However, the IWEA points out that is unlikely that all of the projects planned will be completed. The industry says there is even more significant potential for floating offshore wind off Ireland's west coast and the Programme for Government contains a commitment to develop a long-term plan for at least 30 GW of floating offshore wind in our deeper waters.

There are many different models of turbines. The larger a turbine, the more efficient it is in producing electricity at a good price. In choosing a turbine model the developer will be conscious of this ,but also has to be aware the impact of the turbine on the environment, marine life, biodiversity and visual impact. As a broad rule an offshore wind turbine will have a tip-height of between 165m and 215m tall. However, turbine technology is evolving at a rapid rate with larger more efficient turbines anticipated on the market in the coming years.

 

The Renewable Electricity Support Scheme is designed to support the development of renewable energy projects in Ireland. Under the scheme wind farms and solar farms compete against each other in an auction with the projects which offer power at the lowest price awarded contracts. These contracts provide them with a guaranteed price for their power for 15 years. If they obtain a better price for their electricity on the wholesale market they must return the difference to the consumer.

Yes. The first auction for offshore renewable energy projects is expected to take place in late 2021.

Cost is one difference, and technology is another. Floating wind farm technology is relatively new, but allows use of deeper water. Ireland's 50-metre contour line is the limit for traditional bottom-fixed wind farms, and it is also very close to population centres, which makes visibility of large turbines an issue - hence the attraction of floating structures Do offshore wind farms pose a navigational hazard to shipping? Inshore fishermen do have valid concerns. One of the first steps in identifying a site as a potential location for an offshore wind farm is to identify and assess the level of existing marine activity in the area and this particularly includes shipping. The National Marine Planning Framework aims to create, for the first time, a plan to balance the various kinds of offshore activity with the protection of the Irish marine environment. This is expected to be published before the end of 2020, and will set out clearly where is suitable for offshore renewable energy development and where it is not - due, for example, to shipping movements and safe navigation.

YEnvironmental organisations are concerned about the impact of turbines on bird populations, particularly migrating birds. A Danish scientific study published in 2019 found evidence that larger birds were tending to avoid turbine blades, but said it didn't have sufficient evidence for smaller birds – and cautioned that the cumulative effect of farms could still have an impact on bird movements. A full environmental impact assessment has to be carried out before a developer can apply for planning permission to develop an offshore wind farm. This would include desk-based studies as well as extensive surveys of the population and movements of birds and marine mammals, as well as fish and seabed habitats. If a potential environmental impact is identified the developer must, as part of the planning application, show how the project will be designed in such a way as to avoid the impact or to mitigate against it.

A typical 500 MW offshore wind farm would require an operations and maintenance base which would be on the nearby coast. Such a project would generally create between 80-100 fulltime jobs, according to the IWEA. There would also be a substantial increase to in-direct employment and associated socio-economic benefit to the surrounding area where the operation and maintenance hub is located.

The recent Carbon Trust report for the IWEA, entitled Harnessing our potential, identified significant skills shortages for offshore wind in Ireland across the areas of engineering financial services and logistics. The IWEA says that as Ireland is a relatively new entrant to the offshore wind market, there are "opportunities to develop and implement strategies to address the skills shortages for delivering offshore wind and for Ireland to be a net exporter of human capital and skills to the highly competitive global offshore wind supply chain". Offshore wind requires a diverse workforce with jobs in both transferable (for example from the oil and gas sector) and specialist disciplines across apprenticeships and higher education. IWEA have a training network called the Green Tech Skillnet that facilitates training and networking opportunities in the renewable energy sector.

It is expected that developing the 3.5 GW of offshore wind energy identified in the Government's Climate Action Plan would create around 2,500 jobs in construction and development and around 700 permanent operations and maintenance jobs. The Programme for Government published in 2020 has an enhanced target of 5 GW of offshore wind which would create even more employment. The industry says that in the initial stages, the development of offshore wind energy would create employment in conducting environmental surveys, community engagement and development applications for planning. As a site moves to construction, people with backgrounds in various types of engineering, marine construction and marine transport would be recruited. Once the site is up and running , a project requires a team of turbine technicians, engineers and administrators to ensure the wind farm is fully and properly maintained, as well as crew for the crew transfer vessels transporting workers from shore to the turbines.

The IEA says that today's offshore wind market "doesn't even come close to tapping the full potential – with high-quality resources available in most major markets". It estimates that offshore wind has the potential to generate more than 420 000 Terawatt hours per year (TWh/yr) worldwide – as in more than 18 times the current global electricity demand. One Terawatt is 114 megawatts, and to put it in context, Scotland it has a population a little over 5 million and requires 25 TWh/yr of electrical energy.

Not as advanced as wind, with anchoring a big challenge – given that the most effective wave energy has to be in the most energetic locations, such as the Irish west coast. Britain, Ireland and Portugal are regarded as most advanced in developing wave energy technology. The prize is significant, the industry says, as there are forecasts that varying between 4000TWh/yr to 29500TWh/yr. Europe consumes around 3000TWh/year.

The industry has two main umbrella organisations – the Irish Wind Energy Association, which represents both onshore and offshore wind, and the Marine Renewables Industry Association, which focuses on all types of renewable in the marine environment.

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