Displaying items by tag: iShipIndex
Shipping Volumes Through Irish Ports Rise by 7% in Q1 2017
#iShipIndex- According to the iShip Index recently published by the Irish Maritime Development Office (IMDO) shipping and port activity in the Republic of Ireland rose by 7% in the first quarter of 2017 when compared to the corresponding period of 2016.
The latest analysis indicates that all five of the principal freight segments saw volume increases in the first quarter of 2017. Unitised traffic - which consists of Roll-on/Roll-off (Ro/Ro) and Lift-on/Lift-off (Lo/Lo) traffic - continued to rise, growing by 5% when compared to Q1 2016.
The majority of Ro/Ro traffic moves between Ireland and Great Britain, meaning this freight segment is a simple but reliable indicator as to the level of trade between both economies. The Ro/Ro freight sector for the Republic of Ireland saw volume growth of 7% in the first quarter of 2017.This is the fifth consecutive Q1 increase in this freight category.
As for Lo/Lo (containership) traffic, Lo/Lo exports in the Republic of Ireland (ROI) rose by 6% compared to Q1 2016, while Lo/Lo imports remained relatively unchanged – rising by 0.5%. Overall, Lo/Lo traffic in ROI increased by 3% to 174,248 TEU.
When reviewing unitised traffic it should be noted that both Lo/Lo and Ro/Ro freight segments move in an all-island setting. Therefore, when Northern Irish (NI) ports are included, all-island Ro/Ro volumes grew by 6% in Q1 2017. All-island Lo/Lo traffic grew by 0.7%, with all-island imports and exports rising by 0.4% and 1% respectively, compared to Q1 2016. NI Ro/Ro volumes grew by 5%, while NI Lo/Lo traffic contracted by 6%. This was driven primarily by an 11% drop in NI Lo/Lo exports.
The Bulk traffic segment saw tonnage volumes grow by 8% (excluding transhipments) in the Republic of Ireland when compared to the same period last year. This was driven primarily by an11% increase in Dry Bulk tonnage, as well as 10% growth in Break Bulk volumes. This is the largest level of Dry Bulk volume recorded since the iShip index began in 2007. The relatively large expansion in Dry Bulk reflects the fact that a high degree of volume fluctuation exists in this market when viewed on a quarterly basis. As for Break Bulk volumes, this is the largest quarter on quarter increase in this segment since Q2 2015.
*The iShip index is a volume index for all freight traffic moving to and from the Republic of Ireland. This does not include passengers or transshipment activity.
iShip Index: Irish Ports and Shipping Volumes Q4 2016
#iShipIndex - The latest iShip Index published by the Irish Maritime Development Office (IMDO) shows that shipping and port activity in the Republic of Ireland fell by 2% in the fourth quarter of 2016 when compared to the corresponding period of 2015 .
This contraction is largely explained by a 7% contraction in Bulk traffic which was in turn driven by a 10% fall in Dry Bulk freight. At the same time, Lift-on Lift-off (Lo-Lo) and Roll-on Roll-off (Ro-Ro) volumes, which are more closely correlated with consumer demand, rose by 6% and 5% respectively.
Breaking down the figures
Roll-on Roll-off (Ro-Ro) Traffic:
Over 80% of ROI Ro-Ro traffic moves between the United Kingdom (UK) and the Republic of Ireland (ROI). And is a reliable proxy for to the performance of trade between both economies.
In Q4 2016, total Ro-Ro traffic in the ROI grew by 7% , with volumes between the ROI and the UK Ro-up by 6%, while Ro-Ro traffic between ROI and Continental Europe saw a 10% rise against Q4 2015.
Lift-on Lift-off (Lo/Lo) Traffic:
In Q4 2016, laden Lo-Lo traffic in the ROI grew by 5% year on year. On a full year basis, laden Lo-Lo traffic increased by 6% compared to January – December 2015. Laden imports were up by 4%, while laden exports increased by 7%. When Northern Irish ports are included, laden Lo-Lo traffic growth was 5%. This figure was driven by laden import growth of 3%, and laden export growth of 7% for the island as a whole.
Bulk:
Total Bulk traffic for the ROI contracted by 7% in the 4th quarter of 2016. When Northern Irish ports are included, the contraction in total Bulk traffic for the island of Ireland was 4%.
The 7% drop in ROI bulk traffic was driven primarily by a 10% drop-off in Dry Bulk traffic. This market segment was particularly affected by a decline in volumes of coal and animal feed, down 51% and 9% respectively. Liquid bulk traffic in the ROI fell by 4% in Q4 2016, while ROI Break Bulk traffic saw 3% growth.
Offsetting the contraction in ROI Bulk, Northern Irish ports saw 6% growth in Total Bulk traffic in Q4, which meant that all island total bulk traffic fell by 4% when compared to the previous year.
There was a 2% drop in all-island Liquid bulk and a 5% drop in all-island Dry Bulk. All-island break bulk however, saw 5% growth, driven by an 11% increase in Northern Ireland Break Bulk traffic.
The Central Bank in its most recent bulletin noted that to date, due to the absence of any weakening in the U.K economy, the impact on the Irish economy has been through the volatility of the euro/sterling exchange rate. Forecasted GDP growth remains positive.
The Central Bank went on to say that while consumer sentiment (as measured by the ESRI consumer sentiment index) declined in Q4 2016, it has rebounded to its highest level since June 2016.
