THE IRISH SHIPPING MARKET

General overview of shipping market in Ireland

It is now almost seven years since the Irish Maritime Development Office, commonly referred to as the “IMDO” was established.1 Under the remit of the Marine Institute (a state Agency responsible for the research potential of Ireland’s marine resources), it was in its own words, Ireland’s first national dedicated development, promotional and marketing agency for the shipping services sector.

The IMDO has a statutory mandate to promote the growth of Irish Shipping and related services and to attract to Ireland marine related service sector operations along with key players in International Shipping and ancillary services. The mandate includes:

• The promotion and the development of Ireland as an internationally competitive location for shipping and shipping services;

• To capitalise on Ireland’s opportunity to capture a share of the large expansion envisaged for global shipping and its services sectors;

• To promote Ireland as an International centre for ship registration;

• To develop Ireland’s many advantages, that position Ireland to considerably increase maritime based activity in inter alia:-

• Ship Finance & Banking

• Marine Insurance

• Maritime Law and Legal Services

• Ship Management

• Ownership and Operations

• Shipbroking, Chartering, Sale and Purchase

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