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Irish Maritime Development Office, Ireland Glenn Murphy, Director Irish Maritime Development Office (IMDO). Central Statistics Office Conference 2009 “Shipping, the invisible hand moving the Irish economy around the globe” 11 th November 2009. Overview. Key shipping indicators
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Irish Maritime Development Office, Ireland Glenn Murphy, Director Irish Maritime Development Office (IMDO) Central Statistics Office Conference 2009 “Shipping, the invisible hand moving the Irish economy around the globe” 11th November 2009
Overview • Key shipping indicators • IMDO data analysis. • Global shipping markets • Shipping + Port traffic performance • Lift on/Lift off market (Lo/Lo) • Roll on/Roll off market (ro/ro) • Bulk sector • Trend data.
Annual Irish Transport Economist (Volume 6 – April 2009) • 12 Shipping Reviews – Ireland to European Markets (2008) • Quarterly publication of traffic data. • Route and Competition Analysis
Container Capacity in the Irish Market • 23% reduction in available capacity compared to same period 2008
TOP TRADING PARTNERS Source CSO
1785 depression 1999 recession 1970 depression 1980 recession 1957-63 depression 1930 depression 1902-10 depression
The Supply Cycle Deliveries 242 m dwt in 2008 Shipyards expand to replace the ships built in the 1970s boom Million Dwt Deliveries 61 m dwt in 1976 30Year Cycle 1 3 2 Last phase of 1970s scrapping!
11,770 3,757 2,415 670
MONTHLY LOLO TREND 134,149TEU’s 80,141TEU’s
ROI & NI RORO TRAFFIC 224,649 217,743 -21% 186,793 178,875
RORO TRAFFIC 157,941 115,051
Dry Bulk 1,649,876 583,667
Break Bulk 204,017 54,133
Liquid Bulk 1,365,101 708,764
OIL PRICES $131.69 $72.53 $38.60
Summary • Shipping highly cyclical • Rate of decline easing in all market segments. • Economy appears to be moving out of recession • Very large volume correction • Threat of inflation from higher oil prices over winter months. • Competitive, frequent shipping services have an important role to play in economic recovery.