The Irish Maritime Transport Economist Volume 7

Abstract

The Irish Maritime Development Office (IMDO) of the Marine Institute publishes the Irish Maritime Transport Economist each year to provide a descriptive statistical analysis of the Irish ports and shipping services sector, as well as the many factors influencing its performance. This is our 7th annual edition of the Irish Transport Economist and it is, undoubtedly, the bleakest review that we have published to date. Overall, in terms of content and analysis for 2009, there are very few positives to report, with almost no growth in any area over the course of the year. The relentless unwinding of the economy last year was, again, clearly illustrated in the continued abrupt correction in volume throughput at our ports. Nonetheless, while the trend for 2009 was negative, we observed that the pace of decline in economic activity moderated significantly since last spring with some volume recovery in several of our domestic shipping segments recorded to the year end. As we look forward to 2010, we do so with some optimism, that both economically and sectorally, we have passed the trough of the economic downturn and that the economy will exit recession this year with a return to growth in 2011.