Shipping activity surges to its highest level since 2008
Increased imports of animal feed coincides with fodder crisis
Increased imports of animal feed and fertilisers saw shipping and port activity increase by 11 per cent during the second quarter.
The latest iShip index, published today by the Irish Maritme Development Office, showed activity for the three months to the end of June was at its highest level since 2008.
The index indicated that four of the five principal domestic freight segments grew during the quarter.
The growth was largely driven by a surge in demand in the dry bulk sector which includes grain, agricultural products, coal, animal feed and fertilisers.
The increased volume of feed and grain imports coincided withthe country’s fodder crisis earlier this year, which forced farmers to import greater amounts of animal feed to make up for the shortage of silage.
The dry bulk sector has been the strongest performing freight segment over the last three quarters, growing by 26 per cent to 4.08 million tonnes in the second quarter.
Roll on-roll off trailer volumes increased by 8 per cent to 229,772 units, the index showed.
The majority of roll on-roll off traffic moves between Ireland and Great Britain, our largest trading partner, and this trade grew by 6 per cent as demand conditions in the UK improved.
Exports were flat as global economic conditions continued to impinge on demand, the report said.