#Ports&Shipping –The latest IMDO Weekly Shipping Market Review includes the following stories as detailed below.
Irish Economy: Increased Industrial Production - The Investec Irish Manufacturing PMI reached a 14-month high in September with a figure of 52.7. This figure was supported last week by the release of industrial output figures from the Central Statistics Office stating that production for manufacturing industries for September increased 3.0% from
August and was up by 11.9% when compared to the same month in 2012.
Ports: London Gateway Opens - London Gateway, the new £1.5bn DP World funded Thameside port, opened last week to receive its first ship, the MOL Caledon carrying wine and fruit from South Africa. The vessel is run by Southern Africa Europe Container Service (SAECS) who announced their intentions to move services from nearby Tilbury in August. Maersk Line will also move services to London Gateway which has the facilities to handle its large Triple E ships.
Container Market: General rate increases prove short-lived - After the surge in Asia-Europe box rates following the November 1st general rate increases, rates have begun to slide downwards again according to Lloyds List. The benchmark SCFI Shanghai-Europe index dropped 7.2% during last week, representing a $103 dollar rate reduction per teu. This fall came despite earlier resilience based on the discipline of carriers maintaining the increase of between $750 and $1,000 per TEU.
For more on each of the above and other stories click the downloadable PDF IMDO Weekly Markets Review (Week 45). In addition to Afloat.ie's dedicated Ports & Shipping News section.
