Irish traffic continues to decline
November 29, 2011
Shipping and port traffic through the Republic of Ireland continued to decline during the third quarter of 2011, according to the latest figures from the Irish Maritime Development Office (IMDO).
The third-quarter data indicates that only one of the five principal freight segments saw any growth on figures for the same period last year.
The lo-lo container sector declined by 5%, with total volumes falling by 1% for the first nine months to 462,810teu.
Exports as a subset of these figures grew by 4% in Q3 and by 6% for the first nine months, with continuing export demand to overseas markets such as the North America and Asia remaining strong.
Imports fell by 11% in the quarter, down 5% for the nine months. This represents the 15th consecutive quarter of declining import volumes, with consumption remaining weak in the domestic economy.
Ro-ro traffic was down 2% in Q3, with 209,782 freight units handled, which meant no overall growth for the first nine months of 2011.
The ro-ro sector is heavily weighted to traffic movement to and from the UK, Ireland’s largest trading partner, whose economy has also shown only modest growth this year.
Breakbulk volumes fell 3% and liquid bulks fell 7%, but dry bulk volumes saw modest growth through Irish ports in Q3, with a 2% increase to 3.1 million tonnes.
The continuing rise of bunker fuel prices has also negatively impacted on the daily operating costs of Ireland-based operators.
The IMDO said the short-run outlook for the sector remained challenging, “as continued uncertainty in the European and wider global economy continues to weaken market demand and impact on consumer confidence”.
Courtesy of IFW
