The Irish Maritime transport industry accounts for 99% of Ireland’s imports and exports by volume and 95% by value. €158 billion worth of merchandise goods were transported by the Irish supply chain in 2006.
The Irish Maritime Development Office (IMDO) estimates that the sector directly employs over 8,300 people and had a combined estimated turnover of €1.69 billion in 2006.
The Irish Maritime Development Office (IMDO)
The IMDO was established by statue in December of 1999 as a division of the Marine Institute. The office is the dedicated national body responsible for the promotion and development of the Irish Shipping Services sector and related industries.
A key role of the IMDO is to provide assistance to the Irish maritime industry in order to support and maintain competitiveness in the international marketplace. A particular focus of the IMDO is the attraction of foreign direct investment.
Since its establishment, the IMDO, working with the industry, has overseen:
The IMDO is also the designated Short Sea Shipping Promotion Centre for Ireland and participates in a number of EU initiatives related to the promotion of research and development.
Future of Irish Shipping & The IMDO
Ireland has established itself among the top fifteen international centres for the highly lucrative business of Ship Finance and Maritime Commerce. Since 2000, a number of Irish institutions have entered the ship asset and finance market, with the Irish Maritime Development Office (IMDO) estimating that the portfolio value of Irish ship financed assets is now close to $2.5 billion.
IMDO forecasts that based on current indicators, this sector of international commerce could increase in value to a $15 billion by 2010.
In January 2006, The Department of Transport, Tourism and Sport assumed responsibility for the Maritime portfolio, upon its transfer from the Department of Communications, Energy and Natural Resources:
… 'with the integrated approach, the department will develop, implement policies designed to ensure the competitiveness if the Irish economy and to improve regional balance.’