Container shipping volumes rose by 9% in Q3, 2014
Container shipping volumes rose by 9% in Q3, 2014. Ro/Ro traffic experienced a 6% growth and Break Bulk volumes grew by 16%, this is in contrast however to total traffic volumes through Irish ports which fell by 3% overall in Q3, when compared to the same period last year.
Activity in the Dry Bulk market generally dips in Q3, 2014 however the decrease this year was more pronounced with volumes dropping to 3,290,393 tonnes, their lowest level since Q3, 2012. A decline in coal imports was the largest contributory factor to the drop in the Dry Bulk volumes, while Liquid Bulk volumes fell by 16%, largely as a result of reduced oil imports. The markets for commodities such as coal and oil were influenced by mild weather conditions.
For the sixth quarter in a row the Ro/Ro sector has grown (up 6% on Q3, 2013 last year). Furthermore, Lo/Lo volumes increased 9% in Q3, the highest quarterly growth rate recorded in this traffic mode since 2007. As the majority of consumer goods are transported on Ro/Ro and Lo/Lo services, increases in traffic volumes on these modes support findings of improved consumer sentiment in the Irish economy. In September 2014, the KBC Ireland/ESRI Consumer Sentiment Index rose to 92.8, its highest level since January 2007. In the Lo/Lo sector, laden imports rose by 13% in Q3, buoyed by a marked increase in demand for consumer goods from the Far East.
Ro/Ro freight volumes increased by 6% to 239,380 units in Q3, with 86% of this volume moving on services between Ireland and Great Britain. Ro/Ro traffic on direct services to the continent has been sluggish for the first three quarters of 2014, with a year on year growth of less than 1% recorded.
Source: The IMDO, November 2014