Irish ports throughput down 20% in H2 2008
Throughput at southern Irish ports fell 20% in the second half of last year, returning to 2005 levels, according to the latest edition of the Irish Maritime Transport Economist.
Data from the Irish Maritime Development Office (IMDO) show that 2008 began with a moderate slowdown in traffic volumes in the first half of the year, before market conditions deteriorated abruptly over the third and fourth quarters with declines in traffic volumes of both freight and passenger traffic.
The most notable correction in the data was in the shift change in import volumes, which had previously been running at a growth ratio of 2:1 compared to export volumes, said the IMDO.
In addition, the key containerised segment of Lo/Lo and Ro/Ro declined by 10% and 5% respectively.
The 12 Irish ports in the review moved 32.2 million tonnes of bulk cargo last year, a decline of 6% compared to 2007.
According to the IMDO, “this reversal in import trade volumes, particularly from Asia, is attributed to the impact of the recessionary environment worldwide, fuelled by weaker domestic consumer confidence.”
The IMDO estimates that laden imports fell by more than 13% for the full year compared to an average growth of 7% since 2003.
“This clearly illustrates the sharp correction that occurred in the real economy last year and the corresponding impact it had on the reversal in shipping volumes throughput at our ports,” IMDO director Glenn Murphy said.
Looking ahead Murphy said that “the outlook for 2009 is equally as challenging and will force many shipping operators to take further corrective measures to adjust shipping volumes to deal with weaker industrial and consumer demand this year.”
Data from the Irish Maritime Development Office (IMDO) show that 2008 began with a moderate slowdown in traffic volumes in the first half of the year, before market conditions deteriorated abruptly over the third and fourth quarters with declines in traffic volumes of both freight and passenger traffic.
The most notable correction in the data was in the shift change in import volumes, which had previously been running at a growth ratio of 2:1 compared to export volumes, said the IMDO.
In addition, the key containerised segment of Lo/Lo and Ro/Ro declined by 10% and 5% respectively.
The 12 Irish ports in the review moved 32.2 million tonnes of bulk cargo last year, a decline of 6% compared to 2007.
According to the IMDO, “this reversal in import trade volumes, particularly from Asia, is attributed to the impact of the recessionary environment worldwide, fuelled by weaker domestic consumer confidence.”
The IMDO estimates that laden imports fell by more than 13% for the full year compared to an average growth of 7% since 2003.
“This clearly illustrates the sharp correction that occurred in the real economy last year and the corresponding impact it had on the reversal in shipping volumes throughput at our ports,” IMDO director Glenn Murphy said.
Looking ahead Murphy said that “the outlook for 2009 is equally as challenging and will force many shipping operators to take further corrective measures to adjust shipping volumes to deal with weaker industrial and consumer demand this year.”