testata inforMARE
30 March 2023 - Year XXVII
Independent journal on economy and transport policy
03:07 GMT+2
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FORUM of Shipping
and Logistics


12 % in 2000.

Freight rates in the three most important sectors of shipping - oil, dry bulk, and containers - after having been very strong in 2000, have fallen sharply. Average earnings in the oil sector show a certain resistance due to the tightening of quality constraints being adopted by oil companies. Tankers have to meet stricter standards and older ships are being discarded.

Whilst the pace of orders remained strong during the first half, the uncertainty in short-term prospects and a significant deterioration in freight rates meant that owners during the summer started deserting the newbuilding market

 

.

new orders

Prices which had increased throughout 2000, while still remaining relatively attractive since they were below levels that were prevalent before the Asian crisis of 1997-1998, were not sufficient to entice potential buyers looking to preserve their cash-flow and who decided to postpone their investments to a later date.

The world orderbook after having outpaced the 75 million gross ton mark in June 2001, stabilised until the end of the year.

orders by quarter

 

world orderbook

The Shipbuilding Market in 2001

 
Whereas the year 2000 was exceptional, 2001 despite some highlights was a year of contrasts:

1. The volume of new orders is down considerably with about 36.5 million gross tons as compared to 46.1 million gt last year.

2. This reduced volume of orders has brought to an end the increase in prices which occurred in 2000; as from mid 2001 there has been a drop sometimes quite sharp despite the importance of the orderbook world-wide.

3. The level of the orderbook reached in the 2nd quarter of 2001 was unprecedented with over 75,7 million gt and roughly maintained until the end of the year, representing an annual growth of about 15 %.

4. A certain stability still prevails between the various shipbuilding countries. Korea remains in top position with over 30 million gt on order, followed by Japan with over 20 million gt. Europe and China are in third and fourth place with about 8.5 million and 7.4 million gt respectively.

5. European shipyards were unable to get the reintroduction of subsidies from their respective official bodies, which were stopped last year, whereas the orders of specialised ships were scarce this year, with the notable exception of LNG carriers which were taken up essentially by Korean and Japanese shipyards.

In October 2000 the IMF announced a reduced growth for 2001 but the prospects remained positive.

IMF forecasts - 1

Unfortunately these economic forecasts have continuously been lowered. The IMF published successively 3.2 % in May 2001, then 2.6 % in October 2001, then again had to readjust its figures taking into account the tragic events of September 11th.

After an exceptional world growth of 4.7 % in 2000, 2001 was also an outstanding year but at the other end of the scale with a growth of only 2.4 %, one of the lowest levels over the last ten years

IMF forecasts - 2

The growth of world trade in volume has slowed down dramatically to virtually nothing in 2001, as compared to an increase of over

freight rates evolution 
The orders
Whilst the pace of orders remained strong during the first half, the uncertainty in short-term prospects and a significant deterioration in freight rates meant that owners during the summer started deserting the newbuilding market
The geographical breakdown in orders remains relatively constant, whereas the majority of the increase seen last year went to Korea.

However the breakdown in ships' types has changed. In 2000 the three principal newbuilding cycles, that of tankers, bulk carriers, and containerships, followed the same pattern as illustrated in the graph of 'Percentages of ships on order over existing fleet'.
 

percentage order / active fleet

This graph illustrates that the dry bulk carrier and containership cycles started a little earlier (early 1998) than that of tankers (early 1999) and hit their historic highs at the start of 2001 with respectively 16 % for dry bulk carriers and significantly more for containerships with 28 %. The bend in these two curves right from the start of 2001 indicated already a certain apprehension and a real reduction in the orders for dry bulk carriers and containerships. Tonnage of dry bulk carriers on order declined from 39.5 to 25.2 million dwt and that of containerships remained around 21 million dwt.

The orderbook for tankers continued to rise to reach a figure of 22 % of the existing fleet thus surpassing the previous historic record of 17 % in 1991. The tonnage of tankers on order increased in 2001 and went from 46.1 to 64.6 million dwt. This prolongation of the tanker cycle applies particularly to the categories between 35,000 and 120,000 dwt.

Specialised tonnage, with the exception of LNG carriers, has seen new orders declining considerably.

Cruise ship operators which made massive investments in 1999 and to a lesser extent in 2000, only made a single new order in 2001.

The LNG carriers orderbook rose from 824,000 cbm in 1999 to 2,485,000 cbm in 2000 then to 4,026,700 cbm in 2001, nearly 50 % of the existing fleet. A number of these orders are speculative and driven by the prospects of a rapid development in this energy source.

 
standard vessels contracting
specialized vessels contracting


Shipping and Shipbuilding Markets in 2001

I N D E X

›››File
FROM THE HOME PAGE
Naviris ' joint venture, the joint venture Fincantieri-Naval Group, will be renewed.
Genoa / Paris / Rome
Pierroberto Folgiero has been appointed president, Damien Raby CEO
TX Logistik, weekly triangular intermodal service between Romania, Austria, Italy and Germany
Troisdorf / Vienna
Rail Cargo Group transforms the triangular link between Austria and the port of Trieste in two direct trains
All 16 Italian port authorities with Assoports at Seatrade Cruise Global
Fort Lauderdale
In Italy, cruising traffic shows a steady recovery
In 2022 the turnover of the CIMC resulting from the sale of the containers fell by -30.7%
Shenzhen
In the second half of the year alone, the decline was -40.4% percent.
Launched the tender for the infrastructure of the bulk terminal in the Cagliari Port
Cagliari
Amount at auction of more than 19.5 million euros
ESPO urges EU and European governments to lay out funding schemes for the installation of OPS in ports
Brussels
Satisfaction with the preliminary settlement agreement on the infrastructure for alternative fuels
UIRR recalls that it is possible to develop European intermodal transport and the necessary measures have already been suggested
Brussels
The association agreed with the dismal analysis of the European Court of Auditors ' sector.
Agreed on how to install electric charging stations for cars and trucks on the roads of the EU
Brussels
Preliminary agreement between Parliament and Council also for hydrogen filling stations
Nearly 2,000 workers in the Italian shipbuilding industry paid with irregular pay
Venice
Nearly 2,000 workers in the Italian shipbuilding industry paid with irregular pay
This is an income stream of six million euros, not subject to taxation or contribution.
The WSC against the bill that in the USA would repeal antitrust exemptions to foreign shipping companies
Washington
Foreign maritime monopolies-indicted by Costa Costa-have manipulated the maritime transport sector. Butler : misunderstanding how VSA helps supply chain to work better
BRT and the Italian subsidiary of the Geodis have been placed in judicial administration
Milan
A systematic exploitation of several thousand workers would emerge from the investigation.
Carnival realizes the best wave season ever
Carnival realizes the best wave season ever
Miami
New record bookings of cruises in both the North American and European markets
A new historical record of cruising traffic in Italian ports was expected in 2023.
Fort Lauderdale
A new historical record of cruising traffic in Italian ports was expected in 2023.
According to Cemar, passengers will be 12.8 million, with a 37.6% on 2022 and a 9.2% on the 2019
APM Terminals cooperates with Hateco in the realization of the new container terminal in Haiphong
APM Terminals cooperates with Hateco in the realization of the new container terminal in Haiphong
Two million euros for tax evasion in the logistics and home delivery sector
Trieste
Reported 20 entrepreneurs
Austria's Gebrüder Weiss has inaugurated a new logistics terminal in Tyrol
Reutte / Lauterach
It is located in Reutte, near the border between Austria and Germany
Maersk-SIPG agreement for bunkering of green methanol in the port of Shanghai
Shanghai
Expected supply from ship to ship of the new container ships ordered by the Danish company
ESPO, ships should use cold ironing systems in ports, if available, already before 2030
Brussels
Ryckbost : It is hoped that the requirements for ships related to when to use electricity at berth clarify the matter
ECSA, EU agreement on ship fuel gives strong political signal and provides clear climate goals and guidance for industry
Brussels / Rome
Assshipowners, welcome our main instances
T&E, today's EU decision marks the beginning of the end of dirty fuels in the shipping industry
Brussels
The organisation highlighted the need to prevent the agreed standards from presenting loopholes
Last year in Greece, 593 ships were subjected to repair work (-0.7%)
Pyreo
Gross tonnage tonnage has increased by 7.3%
Greek Attica bought the ro-ro ship Clementines
Kallithea
Built in 1997, it cost 13.4 million euros
RINA classifies the autonomous ride-hailing workboat of the RC Dock
RINA classifies the autonomous ride-hailing workboat of the RC Dock
Genoa
Delivered the class certificate to the first boat of a fleet that will be able to operate up to 200 miles from the coast
Charity night on board the Fantastic of GNV in support of the Stella Maris
Genoa
It was organized by the National Welfare Committee of the Gente di Mare
Poseidon Acquisition signs the final deal to buy the Atlas Corp.
London
Transaction of the value of approximately 10.9 billion
Guidelines for the safe transport of lithium-ion batteries in containers
Guidelines for the safe transport of lithium-ion batteries in containers
London
They have been published by CINS, International Group of P&I Clubs, ICHCA and TT Club
Strong criticism of the Court of European Accounts to EU policies for the development of intermodal transport
Luxembourg
Values-objective to increase the share of sustainable modes of transport these are termed unrealistic
Thursday in Livorno a workshop on autonomous navigation
Livorno
Event organized as part of the 5G Maritime Autonomous Surface Ship project
In 2022, China's Sinotrans reported record profits despite a -12.5% percent decline in revenue.
Beijing
In 2022, China's Sinotrans reported record profits despite a -12.5% percent decline in revenue.
The reduction of business volume has been generated in the segments of maritime shipments and e-commerce
In 2022, short sea shipping in Spain experienced a slight decline of -0.4% percent.
Madrid
In 2022, short sea shipping in Spain experienced a slight decline of -0.4% percent.
The only international shipping of ro-ro cargoes marked an increase of 8.0% percent (for the first time since the 2016 percent drop in traffic with Italy)
Pimlico Shipping (Brothers Cosulich) buys a revamped
Genoa
The ship, of 7,967 tpl, will be rented to bare boat from the Argo Shipping
SAILING LIST
Visual Sailing List
Departure ports
Arrival ports by:
- alphabetical order
- country
- geographical areas
Giorgio Bucchioni has passed away, a reference point of breaking and national portions.
Giorgio Bucchioni has passed away, a reference point of breaking and national portions.
The Spezia
Among the institutional assignments, he was Chairman of the Port Authority of Spezia and Confindustria La Spezia
Liberty Lines orders three more monocarena naval vehicles at Spanish shipyard Armon
Belrose
Liberty Lines orders three more monocarena naval vehicles at Spanish shipyard Armon
They will add to the nine already commissioned
Ceremony of laying of the keel of the Silver Ray by Silversea Cruises
Papenburg
The luxury cruise ship is under construction at Meyer Werft
Launched in China the first of two LNG Small Scale & Bunker ships for Fratelli Cosulich
Genoa
Will be taken in delivery in September
The CDA of Interporto Padova unanimously approved the draft budget 2022
Padova
Profit after taxes in line with that of the previous financial year
In Genoa, a centre for the development of new technologies for decarbonisation of shipping has been inaugurated.
Genoa
CapLab will be managed by Ecospray Technologies and the DICCA of the University of Genoa
Collaboration Agreement between the AdSP of the South Tyrreno and Ionian Seas and the University of Calabria
Cowithout
The agreement covers several areas of activity and expertise
In 2022 the transits of trucks through the Swiss Alps decreased by -1.7% percent. Stagnation of rail transport
Bern
In 2022 the transits of trucks through the Swiss Alps decreased by -1.7% percent.  Stagnation of rail transport
Still far away the goal of the transfer of the loads from the road to the rail
In the only fourth quarter of 2022, HHLA Group revenues grew by 4.9%
Hamburg
Operating profit fell by -8.8%
Touax closes 2022 with record revenue
Paris
Expected in 2023 normalization of the container market
E-fuel should only be reserved for air and sea transport
Rome
It highlights an analysis of Transport & Environment, which considers them not useful to decarbonisation of road transport
Agreement between five international organisations to increase the safe transport of cargo in containers
London
Memorandum of understanding subscribed by CINS, CHIRP, COA, ICHCA and SMDG
The port of Livorno initiates an agreement with the Uruguayan ANP for the development of traffics, in particular of forest
Livorno
The port of Livorno initiates an agreement with the Uruguayan ANP for the development of traffics, in particular of forest
In 2022, the labronic climber handled 2.13 million tonnes.
Rixi reassures on the implementation of the sea rollover of the Fincantieri shipyard of Sestri Ponente
Genoa
Rixi reassures on the implementation of the sea rollover of the Fincantieri shipyard of Sestri Ponente
MIT will launch the discussion with Italian Railway Network for moving the railway line
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
Thursday in Livorno a workshop on autonomous navigation
Livorno
Event organized as part of the 5G Maritime Autonomous Surface Ship project
On April 18 Assiterminal will be confronted with politicians and practitioners on the challenges of portugal
Genoa
Meeting at the headquarters of the Federation of the Sea in Rome
››› Meetings File
PRESS REVIEW
Port concession saved Nigeria's economy N3.9tr - Haastrup
(Vanguard)
Can the return of international cruises bolster Japan's beleaguered tourism industry?
(The Japan Times)
››› Press Review File
FORUM of Shipping
and Logistics
Relazione del presidente Daniele Rossi
Napoli, 30 settembre 2020
››› File
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