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02 October 2023 - Year XXVII
Independent journal on economy and transport policy
10:56 GMT+2
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FORUM of Shipping
and Logistics


The Shipbuilding market
in 2000

 
The year 2000 was highlighted by:

1. An extremely significant growth, of almost 60%, in the level of newbuilding compared to 1999. More than 46 million gt were ordered in 2000 against about 29 million gt in 1999. This increased demand was for all types of vessels and was particularly evident in the tanker, container and dry bulk (Handysize / HandyMax) sectors.

2. The saturation of newbuilding capacity. Growth in demand resulted in the global orderbook reaching historical high levels, advancing about 25 % and passing the 58.9 million gt figure at the end of 1999 to reach 71.1 million gt by the end of 2000. The orderbook by the middle of 2000 was full with deliveries through to mid 2003. The shipyards became more selective, refusing to quote for later deliveries and selling their remaining open berths at more expensive prices.

3. The rise in newbuilding prices for most types of vessels for the first time since the beginning of the nineties was about 10 % to 25 %. This price increase however was not universal and depended on both the size and type of vessel as well as the amount of competition between the shipyards. The price rises were most significant for tankers and containerships and less pronounced for bulk carriers.

4. The exceptional performance of Korean shipbuilders who collectively took orders for about 21 million gt, almost half of the total orders placed world-wide in 2000. This brought the Korean orderbook up to 30 millions gt. (a figure in excess of the entire global orderbook of 1989). Japan also achieved significant results, taking orders for almost 14 million gt, keeping their orderbook at about 18 million gt, but its market share decreased.

5. The conflict between the European Union shipbuilders and their Korean counterparts took on a new dimension as the Association of West European Shipbuilders decided to bring the dispute to the highest political level of the European Union, which in turn threatens to bring the dispute before the World Trade Organisation.

The year 2000 was characterised in economic terms as an exceptional year. Growth on a global basis was much stronger than 1999 and was spread over all three of the world's main economic zones.

The expansion of world trade increased from 5 % in 1999 to 10 % in 2000 against an average growth rate during the nineties of 6 %-6.5 %.

Freight rates in the three main marine transport sectors experienced substantial increases, tripling for tankers in the case of crude oil trades, with a strong increase in rates for refined petroleum products, dry bulk cargoes and container shipping not far behind. Freight rates in the petroleum sector were powered by not only the increased demand for crude oil, but also by the emergence of restrictive chartering policies in regard to vessel age instituted by oil companies in the aftermath of the 'Erika' disaster. Tankers chartered by oil majors must meet ever stricter quality requirements. Over-aged tankers are no longer considered by oil majors.
 


 

The orderbook

top

The continued low level of newbuilding prices in combination with the significant improvement of freight rates has led many owners to order newbuildings.

Moreover, the price of modern vessels on the second-hand market also encouraged the trend towards newbuilding investment. First, these vessels had been ordered at higher prices. Secondly, owners of quality tonnage were not willing to sell without a premium in a market paying charter rates at historical highs.

The dynamics has resulted in a flood of orders and has almost saturated the global shipbuilding capacity.

The quickening pace of ordering world-wide benefited primarily to shipbuilders in Korea and also to those in China and in Eastern Europe. Of the almost 14 million gt added to the world orderbook, about 7.9 million gt were taken by Korean shipyards, which held more than 40 % of the world orderbook, Eastern Europe followed with 1.4 million gt and China with 1.0 million gt. The second half of the year was more favourable to the European Union and Japanese shipyards but their market share contracted.

In the past, construction cycles for tankers and bulkers were fairly regular, with alternating periods of dominance by one while the other retreated. The year 2000 saw not only the unusual concurrence of demand for both but also the addition of simultaneous demand of equal intensity in the containership sector.
 




Shipping and Shipbuilding Markets in 2000

I N D E X

›››File
FROM THE HOME PAGE
The Port Authority of Thessaloniki selected as the best bidder for the 67% acquisition of Volos Port Authority
The Port Authority of Thessaloniki selected as the best bidder for the 67% acquisition of Volos Port Authority
Athens
An offer of the value of 51 million euros
In the first half of 2023 the revenues of the Greek shipowner group Attica increased by 21.3%
In the first half of 2023 the revenues of the Greek shipowner group Attica increased by 21.3%
Kallithea
The traffic of passengers and vehicles carried by the fleet is growing.
In the June-August quarter, the Carnival cruise group finally left the pandemic behind its backs.
In the June-August quarter, the Carnival cruise group finally left the pandemic behind its backs.
Miami
New historical record of revenue. Close to the historic peak of 2019 the number of passengers boarded ships
Last month the volumes of goods handled by the ports of Genoa and Savona-I went down -9.3% percent and -15.5% percent.
Genoa
In the first eight months of 2023, pushups were -5.8% percent and -3.2% percent, respectively.
Two proposed alternatives so that European transhiment ports do not lose competitiveness with new emission standards
Brussels
36 contributions were made in the framework of the consultation launched by the European Commission.
Amendment proposal of the maritime cluster-Italian port in the subject of cold ironing
Rome
It has been sent to the Senate by Assshipowners, Assiterminal, Assocostieri, Assologistic, Assomarinas, Assoports and Confitweapon
In the second quarter of this year, container traffic in Eurokai's terminals fell by -5.8% percent.
In the second quarter of this year, container traffic in Eurokai's terminals fell by -5.8% percent.
Hamburg
In Germany Eurogate has handled 1.6 million teu (-9.6%) and in Italy Contship 411mila teu (-9.6%). In the other foreign terminals the traffic was 773mila teu (+ 0.8%)
New historical record of monthly traffic of shipping containers handled by Chinese ports
New historical record of monthly traffic of shipping containers handled by Chinese ports
Beijing
In August, the new record of international goods passed through sea port airports was also marked.
CMA CGM has ordered eight dual-fuel container carriers from 9,200 methanol-fueled teu to SWS
CMA CGM has ordered eight dual-fuel container carriers from 9,200 methanol-fueled teu to SWS
Shanghai
They will be 299.9 meters long and wide 45.6
The reform of the port rules-the Filt-Cgil and Fit-Cisl-must put the work at the centre of the work.
Rome
The two unions highlight the need for the Ministry of Transport to regulate the port market
Assoports, well the action of the Ministry of the Environment to simplify the rules on dredging
Rome
The reform-observing Giampieri and Patroni Griffi-should also be completed with regard to the use of sediment in the realization of port works
UNCTAD expects annual growth around 3% of goods transported by global container carriers in the period 2024-2028
UNCTAD expects annual growth around 3% of goods transported by global container carriers in the period 2024-2028
Geneva
The expected rise is decidedly less than the 7% percent rise in the previous three decades. This year the expected increase is 1.2% percent after falling -3.7% percent in 2022.
The Canadian government will consider whether the Viterra-Bunge merger will have a negative impact on national ports.
Ottawa
Public consultation with industry stakeholders
Historical record of semi-annual traffic of containers in the port of Thessaloniki
Thessaloniki
In the first six months of 2023, 255,192 teu (+ 11.3%) were handled.
Oceania Cruises and Regent Seven Seas applaud the plan of excavation of the Canale Vittorio Emanuele III
Oceania Cruises and Regent Seven Seas applaud the plan of excavation of the Canale Vittorio Emanuele III
Milan
It would allow the Cruserists to have easy access to Venice.
BLS Cargo buys ten new locomotives for transalpine services with Italy
Bern
They will be delivered by Siemens Mobility in 2026
Medway / Medlog (MSC group) chosen as the industrial partner of the Spanish Renfe Mercancías
Madrid
The company of the shipowner group will go to the control of the railway transport branch of the Iberian group's goods
ITF denounces that even the attempted suicide of a seaport removes companies and authorities to assist abandoned crews
London
The incredible and dramatic affair of the personnel of three ships of the Turkish Sea Lion Shipping
At the end of the year, Alessandro Becce will leave the post of CEO of FHP Holding Portuale
Carrara
Will be replaced by Paolo Cornetto
Fire on the ferry Cossyra in navigation from Lampedusa to Porto Empedocle
Rome
Passengers have been transshipped and the ship is towed to the port of Augusta
Romania wants to buy the Moldovan river port of Giurgiulesti
Ports
A new road and rail bridge on the Danube will also be planned.
On October 11 in Genoa a workshop by the Young Group of Assagents on the Trend of Noli
Genoa
It will be held at Palazzo San Giorgio
On Sunday in Japan, the ferry company MOL Sunflower will become operational
Tokyo
Fleet of ten ro-pax ships and five ro-ro ships employed on six maritime routes
Rexi, inserted amendments on concessions, self-transport, Third Valico and dam of Genoa
Rome
A uniform criterion for updating the Istat criterion is introduced on maritime concessions, the Deputy Minister explained.
Cornetto will leave Managing Director assignments in the Going Gateway and Reefer Terminal
Go Ligure
The companies are looking for a new CEO
Interport of Gorizia, inaugurated a workshop for the repair of railway wagons
Gorizia
It was carried out by Adriafer Rail Services
OK to extend the concession to Fuorimuro until December 31
Genoa
The company operates the rail manoeuvring services in the port of Genoa
At the container terminal of PSA Genova Pra ' a second container ship has arrived from 24,000 teu
Genoa
The MSC Mette is over 400 meters long and 61 wide
Ban on electrification of ro-pax benches of the port of Ancona
Ancona
The plant will have to be made by June 2026
Convention between Assshipowners, Confitweapon and Ministry of Defence
Rome
It is aimed at support for the professional relocation of the voluntary freezes
SAILING LIST
Visual Sailing List
Departure ports
Arrival ports by:
- alphabetical order
- country
- geographical areas
Captrain Italia enhances the services via Ventimiglia and Domodossola to make up for the blocks on the Frejus and Gotthard axis
Assagus
Italy is in danger of being cut off from the rest of Europe, the company said.
In the second quarter of this year, French ports handled 1.21 million containers (-12.7%)
The Défense
The overall traffic in goods decreased by -2.0%
The works for new road links in the Porto Canale of Cagliari are tender.
Cagliari
A connection road will be carried out between the new ro-ro terminal and SS 195
At the Interport of Gorizia, the digitalization of the logistic operation of the cold pole is enhanced
Gorizia / Turin
Acquired the provision of the WMS of Generix Group
Approved the new Statutes of the Federation of the Sea
Rome
Mattioli : We give more concreteness to a modern idea of the blue economy
The new passenger station in the port of Barletta is inaugurated.
Bari
At Brindisi, a partial reunion at the port of the maritime demanial area "ex Pol"
Fincantieri is guaranteed a long-term financing of 800 million euros.
Trieste
"sustainability linked" credit line guaranteed by SACE
Starlite Ferries renews the deal with Accelleron
Baden
Concerns the provision of care services for turbochargers installed on ships
Fercam has inaugurated its new warehouse in Alexandria.
Bolzano
It has an area of 1,950 square meters plus 290 of offices
PORTS
Italian Ports:
Ancona Genoa Ravenna
Augusta Gioia Tauro Salerno
Bari La Spezia Savona
Brindisi Leghorn Taranto
Cagliari Naples Trapani
Carrara Palermo Trieste
Civitavecchia Piombino Venice
Italian Interports: list World Ports: map
DATABASE
ShipownersShipbuilding and Shiprepairing Yards
ForwardersShip Suppliers
Shipping AgentsTruckers
MEETINGS
On October 11 in Genoa a workshop by the Young Group of Assagents on the Trend of Noli
Genoa
It will be held at Palazzo San Giorgio
Conference on the Promotion of Health in the Port Workers of the Straits
Messina
It will be held on October 2 in Messina
››› Meetings File
PRESS REVIEW
España demanda una revisión instantánea de los puertos vecinos de transbordo
(El Mercantil)
Shipping minister resigns in aftermath of ferry passenger's death
(Kathimerini)
››› Press Review File
FORUM of Shipping
and Logistics
Relazione del presidente Daniele Rossi
Napoli, 30 settembre 2020
››› File
Concluded the adjustment of Gallarate station to freight trains from 750 metres
Rome
Investment by Italian Railway Network of three million euros
It concluded the clearance operations of the freight train wagons derailed in the base tunnel of the Gotthard
Bern
Turkish shipyard Med Marine delivers a new tugboat to the Vernicos Scafi
Istanbul
It is the first means of new construction of the fleet of the Greek-Italian joint venture
Kenya Ports Authority privatizes benches at ports of Lamu and Mombasa
Mombasa
Launched an international competition that also includes a special economic zone
Last month, freight traffic in the port of Taranto increased by 6.9% percent.
Taranto
In the first eight months of 2023, a decline of -4.0%
New paints to contain the propagation of fires on ships and construction sites
Palermo
Messina Group has taken delivery of its second full container ship
Genoa
Has a transport capacity of 4,600 teu
Approda in Genoa the first container ship of the FIM service of HMM
Genoa
Scalo to container terminal of PSA Italy
First meeting of the technical table on security of work in the port
Rome
Among the proposals, insert some port job profiles between the "usurante/gravest" job categories
Hapag-Lloyd will equip all of its internet connection ships through the Starlink satellite network
Hamburg
Success of tests started in May
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