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Displaying items by tag: Irish Marine Development Office

#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 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

As an island economy, a healthy maritime sector is key to our national competitiveness. Virtually all our imports and exports pass through Irish ports.

Ireland is dependent on ports and shipping services to transport goods and 90% of our trade is moved though Irish ports. Shipping and maritime transport services make a significant contribution to Ireland’s ocean economy, with the sector generating €2.3 billion in turnover and employing over 5,000 people in 2018.

Ireland’s maritime industry continues to grow and progress each year with Irish ports and shipping companies making significant investments. The ports sector in Ireland is currently undergoing a number of expansions and developments with Dublin Port’s Alexandra Basin development, the development of Ringaskiddy in Cork by Port of Cork and the development of Shannon Foynes Port. Along with these major investments, shipping companies are also investing heavily in new tonnage, with Irish Ferries, CLdN and Stena leading new build programmes.

These pages cover the following sectoral areas: shipowners, harbour authorities, shipbrokers, freight forwarders and contractors, cruise liner operators, port users, seamen, merchants, academic institutions, shipyards and repair facilities, naval architects, navy and defence personnel.

Our pages are covering some of the most notable arrivals around our coast and reporting too on port development and shipping news.

This section of the site deals with Port and Shipping News on our largest ports Dublin Port, Port of Cork, the Shannon Estuary, Galway Harbour and Belfast Lough.

A recent study carried out for the Irish Ports Association (IPA) totalled 75.7 billion during 2004 and their net economic impact was some 5.5 billion supporting around 57, 500 full time employees.

Liam Lacey, Director of the Marine Institute’s Irish Maritime Development Office (IMDO) said, “The Irish maritime industry can look to the future with confidence. It has shown itself to be resilient and agile in responding to challenges. Over the past decade, it has had to respond to the challenges of the financial crisis of 2008, the uncertainty surrounding Brexit and recent challenges. Ireland’s maritime sector has continued to underpin our economy by maintaining vital shipping links for both trade and tourism.”