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Displaying items by tag: Shannon Deepwater Ships

#Ports&Shipping –The latest IMDO Weekly Shipping Market Review includes the following stories as previously reported on Afloat.ie, Dublin Port's Record Trade and Record Profits at Shannon Foynes Port Company plus stories below and more from the IMDO.

Shannon Estuary: Shannon Foynes Port Company- Seeking Deepwater Facility Operators – SFPC is beginning to recruit commercial operators for new deepwater facilities. It is planning to develop the facilities to handle the increase in the size of cargo vessels. Their maximum size is expected to go from 80,000 tonnes to 120,000 tonnes from next year as a result of the deepening of the Panama Canal, which will allow shipping companies to use much larger craft.

Container Market: Maersk secures 2M alliance approval in the US - The U.S. Federal Maritime Commission on Thursday approved an alliance that will carry about one-third of all cargo across the world's busiest ocean trade routes, made up of the world's two biggest container-shipping companies in terms of capacity. The so- called 2M alliance unites Maersk Line, a unit of Danish conglomerate A.P. Møller-Mærsk, and Switzerland-based Mediterranean Shipping Co.

Capacity: Capacity threat will cloud the next 12-18 months - Rates in global shipping could rise, but only moderately, in the next 12-18 months, and capacity will outstrip demand and limit the ability of shipping lines in three sectors to improve their operating earnings. Supply in the dry bulk sector is problematic as deliveries this year have been delayed. If the delays persist through 2015, it could aid the rates scenario. However, if they are simply pushed into next year, it could hurt.

For more on each of the above stories and other reports featured on the IMDO Weekly Markets Review (Week 41) click HERE..

In addition to Afloat.ie's dedicated Ports & Shipping News coverage.

 

Published in Ports & Shipping

About Foyle Port

Foyle Port, located in the North West region of Northern Ireland, is estimated to handle around 2 million tonnes of cargo per year, with a trade value of approximately £1 billion. The port plays a crucial role in facilitating the import of essential agri-products, supporting around 20,000 farms in the region, as well as various local business sectors such as fuel/oil and construction industries. The organisation supports an estimated 1000 direct and indirect jobs.

Originally located in the bustling heart of Derry City, the Commissioners relocated the port to its current deep-water location at Lisahally in 1993. The terminal boasts an impressive 440 metres of quay and can accommodate large vessels of up to 62,000 DWT. Foyle Port is primarily a bulk port and a significant importer of essential commodities such as oil, coal, animal feed, fertiliser, and plywood, all of which are vital for the North West rural region.

Since 2003, the organisation has experienced significant growth, doubling both turnover and profit and attracting approximately £100 million of inward investment to the region. This investment has supported projects, including a fertiliser plant, an oil tank farm, and a biomass power station.

Established by Act of Parliament in 1854, the Londonderry Port & Harbour Commissioners is an independent statutory authority with a duty to develop, maintain and operate to the highest standards of efficiency, financial prudence, environmental awareness, safety, and security. The Port is independent of the Government and is self-financing. All financial surpluses are reinvested in the business for the benefit of future generations of stakeholders.