review of maritime transport 2009

Transcription

UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT
Geneva
REVIEW OF MARITIME
TRANSPORT
2009
Report by the UNCTAD secretariat
UNITED NATIONS
New York and Geneva, 2009
ii
Review of Maritime Transport, 2009
NOTE
The Review of Maritime Transport is a recurrent publication prepared by the UNCTAD secretariat since 1968
with the aim of fostering the transparency of maritime markets and analysing relevant developments. Any factual
RUHGLWRULDOFRUUHFWLRQVWKDWPD\SURYHQHFHVVDU\EDVHGRQFRPPHQWVPDGHE\*RYHUQPHQWVZLOOEHUHÀHFWHGLQ
a corrigendum to be issued subsequently.
*
**
\PEROVRI8QLWHG1DWLRQVGRFXPHQWVDUHFRPSRVHGRIFDSLWDOOHWWHUVFRPELQHGZLWK¿JXUHV8VHRIVXFKD
6
symbol indicates a reference to a United Nations document.
*
**
The designations employed and the presentation of the material in this publication do not imply the expression
of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any
country, territory, city or area, or of its authorities, or concerning the delimitation of its frontiers or boundaries.
*
**
Material in this publication may be freely quoted or reprinted, but acknowledgement is requested, with reference
to the document number (see below). A copy of the publication containing the quotation or reprint should be sent
to the UNCTAD secretariat at the following address: Palais des Nations, CH-1211 Geneva 10, Switzerland.
UNCTAD/RMT/2009
UNITED NATIONS PUBLICATION
Sales No. E.09.II.D.11
ISBN 978-92-1-112771-3
ISSN 0566-7682
Contents and Executive Summary
iii
ACKNOWLEDGEMENTS
The Review of Maritime Transport 2009 is prepared by the Trade Logistics Branch of the Division on Technology
and Logistics, UNCTAD. The principal authors were Regina Asariotis, Hassiba Benamara, Jan Hoffmann,
Eugenia Núñez, Anila Premti, and Vincent Valentine, who also leads the team of authors.
Contributions on various issues were also prepared by Liliana Annovazzi-Jakab, Bismark Sitorus and Birgit Viohl.
Desktop publishing and administrative support was provided by Florence Hudry. Graphic support was provided
by Nadège Hadjemian and the publication was edited by Daniel Sanderson.
Various parts of this publication were peer-reviewed by UNCTAD colleagues: Deepali Fernandes, Mina
Mashayekhi, Anne Miroux, José María Rubiato and Frida Youssef.
This publication was peer-reviewed by the following persons from civil society, according to their particular
expertise: Alf Baird, Tom Butterly, Pierre Cariou, Mahindokht Faghfouri, Matthew Flynn, Hercules Haralambides,
Ki-Soon Hwang, Harsh Khare, Mohamed Abul Kheir, Shashi Kumar, Heather Leggate, Socrates LeptosBourgi, Nora Neufeld, Melissa-Dawn Newhook, Adolf Ng, Thomas Pawlik, Aleksandra Pieczek, Derek Prentis,
Sheri Rosenow, Wayne Talley, Beatriz Tovar de la Fe and Les Ward.
iv
CONTENTS
............................................................................................................................................... Page
Acknowledgements.........................................................................................................................................
iii
/LVWRIWDEOHV¿JXUHVDQGER[HV......................................................................................................................
vi
Abbreviations and explanatory notes..............................................................................................................
x
Vessel groupings used in the Review of Maritime Transport.......................................................................... xiii
Executive summary......................................................................................................................................... xiv
Chapter
1.
............................................................................................................................................... Page
Developments in international seaborne trade .............................................................................
1
A.
World economic situation and prospects...............................................................................
1
B.
World seaborne trade.............................................................................................................
6
C.
Sectors of world seaborne trade ........................................................................................... 13
D.
Maritime transport and the climate change challenge........................................................... 26
6WUXFWXUHRZQHUVKLSDQGUHJLVWUDWLRQRIWKHZRUOGÀHHW ................................................ 37
$
6WUXFWXUHRIWKHZRUOGÀHHW.................................................................................................... 37
%
2ZQHUVKLSRIWKHZRUOGÀHHW................................................................................................. 52
C.
Registration of ships.............................................................................................................. 54
D.
Shipbuilding, demolition and the second-hand market......................................................... 57
3URGXFWLYLW\RIWKHZRUOGÀHHWDQGVXSSO\DQGGHPDQGLQZRUOGVKLSSLQJ ................. 75
A.
Operational productivity ....................................................................................................... 75
B.
Supply and demand in world shipping.................................................................................. 79
&
&RPSDULVRQRIFDUJRWXUQRYHUDQGÀHHWV .............................................................................. 81
4.
Trade and freight markets ................................................................................................. 85
A.
Crude oil and petroleum products shipping market .............................................................. 85
%
/LTXH¿HGQDWXUDOJDV ............................................................................................................. 90
C.
Dry bulk shipping market...................................................................................................... 92
D.
The liner shipping market ..................................................................................................... 98
E.
Container production............................................................................................................. 103
v
5.
Port and multimodal transport developments .............................................................................. 109
$
&RQWDLQHUSRUWWUDI¿F ............................................................................................................. 109
B.
Improvements in port performance....................................................................................... 114
C.
Recent port developments ..................................................................................................... 114
D.
Inland transport developments .............................................................................................. 117
E.
UNCTAD Liner Shipping Connectivity Index 2009............................................................. 121
6.
Legal issues and regulatory developments .................................................................................... 123
A.
B.
C.
D.
Important developments in transport law..............................................................................
Negotiations on trade facilitation at WTO ............................................................................
Other legal and regulatory developments affecting transportation .......................................
Status of conventions ............................................................................................................
123
130
133
148
7.
Review of Regional developments: Africa ..................................................................................... 159
A.
B.
&
D.
E.
Economic background...........................................................................................................
African ports: some improvements and more expected........................................................
$IULFDQVKLSSLQJQHWZRUNVDQGOLQHUVKLSSLQJFRQQHFWLYLW\LQ$IULFDDGLI¿FXOWSDWK.........
Trade facilitation issues in Africa..........................................................................................
Special case: transit and inland transport for landlocked developing countries in
Africa....................................................................................................................................
159
163
166
169
174
Annexes
,
&ODVVL¿FDWLRQRIFRXQWULHVDQGWHUULWRULHV.............................................................................. 181
II.
World seaborne trade by country groups............................................................................... 185
,,,D 0HUFKDQWÀHHWVRIWKHZRUOGE\ÀDJVRIUHJLVWUDWLRQJURXSVRIFRXQWULHVDQG
types of ship, as of 1 January 2009 (in thousands of GT).................................................... 187
,,,E 0HUFKDQWÀHHWVRIWKHZRUOGE\ÀDJVRIUHJLVWUDWLRQJURXSVRIFRXQWULHVDQG
types of ship, as of 1 January 2009 (in thousands of dwt) ................................................... 193
IV.
UNCTAD Liner Shipping Connectivity Index...................................................................... 199
vi
LIST OF TABLES, FIGURES AND BOXES
Table ........................................................................................................................................................... Page
1.
World economic growth, 2006–2009..................................................................................................
2
2.
Growth in the volume of merchandise trade, by geographical region, 2006–2008 ............................
6
3.
Development of international seaborne trade, selected years .............................................................
8
4.
World seaborne trade in 2006–2008, by type of cargo and country group .........................................
9
5.
World seaborne trade in ton-miles, selected years ............................................................................. 14
(VWLPDWHGFDUJRÀRZVRQPDMRUWUDGHURXWHV± .................................................................. 26
7.
Estimates of fuel consumption, CO2 emissions from international shipping, and projected growth.. 29
:RUOGÀHHWVL]HE\SULQFLSDOW\SHVRIYHVVHO±................................................................... 39
/RQJWHUPWUHQGVLQWKHFHOOXODUFRQWDLQHUVKLSÀHHW .......................................................................... 39
10.
Geared and gearless fully cellular container ships built in 2007 and 2008......................................... 40
$JHGLVWULEXWLRQRIWKHZRUOGPHUFKDQWÀHHWE\YHVVHOW\SHDVRI-DQXDU\ .......................... 41
7KHFRXQWULHVDQGWHUULWRULHVZLWKWKHODUJHVWFRQWUROOHGÀHHWVGZWDVRI-DQXDU\ ......... 53
7KHÀDJVRIUHJLVWUDWLRQZLWKWKHODUJHVWUHJLVWHUHGGHDGZHLJKWWRQQDJHDVRI-DQXDU\... 55
14.
Distribution of dwt capacity of vessel types, by country group or registration, 2009 ........................ 56
7UXHQDWLRQDOLW\RIPDMRURSHQDQGLQWHUQDWLRQDOUHJLVWU\ÀHHWVDVRI-DQXDU\................. 58
16.
Deliveries of newbuildings, selected years ......................................................................................... 62
17.
Tonnage reported sold for breaking, by vessel type, 2000–2008........................................................ 64
18.
Average age of broken-up ships, by type, 1998 to 2008..................................................................... 65
19.
World tonnage on order, 2000–2009................................................................................................... 66
20.
Representative newbuilding prices in selected years.......................................................................... 69
6HFRQGKDQGSULFHVIRU¿YH\HDUROGVKLSV±..................................................................... 69
22.
Newbuilding contract terminations..................................................................................................... 71
&DUJRFDUULHGDQGWRQPLOHVSHUIRUPHGSHUGHDGZHLJKWWRQGZWRIWKHWRWDOZRUOGÀHHW
selected years ..................................................................................................................................... 76
(VWLPDWHGSURGXFWLYLW\RIWDQNHUVEXONFDUULHUVDQGWKHUHVLGXDOÀHHWVHOHFWHG\HDUV
(tons carried per dwt) ......................................................................................................................... 76
(VWLPDWHGSURGXFWLYLW\RIWDQNHUVEXONFDUULHUVDQGWKHUHVLGXDOÀHHWVHOHFWHG\HDUV
(thousands of ton-miles performed per dwt)...................................................................................... 77
7RQQDJHRYHUVXSSO\LQWKHZRUOGPHUFKDQWÀHHWVHOHFWHG\HDUV........................................................ 79
vii
27.
Analysis of tonnage surplus by main type of vessel, selected years................................................... 80
28.
Maritime engagement of 25 major trading nations............................................................................. 83
29.
Tanker freight indices, 2007–2009...................................................................................................... 86
30.
Tanker market summary: clean and dirty spot rates, 2007–2009 ....................................................... 88
31.
Dry cargo freight indices, 2006–2009................................................................................................. 97
32.
The 20 leading service operators of container ships at the beginning of 2009................................... 100
33.
Container ship time charter rates ........................................................................................................ 102
34.
Freight rates (market averages) per TEU on the three major liner trade routes.................................. 104
35.
Liner freight indices, 2009–2009 ........................................................................................................ 105
:RUOGFRQWDLQHUÀHHW ........................................................................................................................... 105
&RQWDLQHUSRUWWUDI¿FIRUGHYHORSLQJHFRQRPLHVDQG........................................ 111
38.
Top 20 container terminals and their throughput for 2006, 2007 and 2008........................................ 113
39.
The global terminal operators equity share of world container throughput........................................ 116
40.
Total length of navigable waters and tons of goods transported by inland waterways....................... 118
41.
Rail: International transport of goods for selected countries .............................................................. 119
42.
Countries and regions with total rail networks of 20,000 km and above............................................ 120
43.
Share of intraregional trade in total African trade............................................................................... 163
44.
Performance indicators ....................................................................................................................... 165
45.
Indicators of African countries’ connectivity in liner shipping........................................................... 168
6HOHFWHGLQGLFDWRUVRIERUGHUDGPLQLVWUDWLRQHI¿FLHQF\LQ$IULFD....................................................... 170
47.
Global Enabling Trade Index, Africa, 2008 ........................................................................................ 172
48.
Major African regional economic communities.................................................................................. 173
Figure
1 (a). World GDP growth, 2003–2009, selected countries ..........................................................................
3
1 (b). Indices for world economic growth (GDP), OECD Industrial Production Index and world
seaborne trade (volume), 1994–2009..................................................................................................
2.
Indices for world economic growth (GDP) and world merchandise exports
(volume), selected years......................................................................................................................
3.
4
7
International seaborne trade, selected years........................................................................................ 11
4 (a). World seaborne trade, by country group and region, 2008 ................................................................. 12
viii
4 (b). Developing countries’ seaborne trade, selected years ........................................................................ 12
5.
Oil and natural gas: major producers and consumers, 2008 .............................................................. 16
6 (a). Major bulks (steel and iron ore): producers, consumers and traders in 2008 .................................... 20
6 (b). Major bulks (coal and grain): producers, consumers and traders in 2008 .......................................... 21
7.
Global container trade, 1990–2020..................................................................................................... 25
8.
Shipping sector CO2 emission and CO2HI¿FLHQFLHVE\FDUJRFDUULHU................................................. 28
:RUOGÀHHWE\SULQFLSDOYHVVHOW\SHVVHOHFWHG\HDUV .......................................................................... 38
10.
Geared and gearless fully cellular container ships by age .................................................................. 40
$JHSUR¿OHRIZRUOGÀHHWDOOYHVVHOW\SHV.......................................................................................... 43
$JHSUR¿OHVRIZRUOGÀHHWIRUHLJKWPDMRUYHVVHOW\SHV ..................................................................... 44
$JHSUR¿OHVRIZRUOGÀHHWPDMRUÀDJVRIUHJLVWUDWLRQRIGHYHORSLQJFRXQWULHVFRXQWULHVZLWK
economies in transition, and open and international registries located in developing countries ........ 45
$JHSUR¿OHVRIZRUOGÀHHWGHYHORSLQJFRXQWULHVDQGFRXQWULHVZLWKHFRQRPLHVLQWUDQVLWLRQ
among the major 35 vessel-owning countries..................................................................................... 49
15.
Deliveries of newbuildings, 1997–2008. ............................................................................................ 63
16.
World tonnage on order, 2000–2009................................................................................................... 68
7RQPLOHVSHUGHDGZHLJKWWRQGZWRIWKHZRUOGÀHHWVHOHFWHG\HDUV .............................................. 77
7RQVFDUULHGSHUGHDGZHLJKWWRQGZWRIWKHZRUOGÀHHWVHOHFWHG\HDUV........................................... 78
7RQPLOHVSHUGHDGZHLJKWWRQGZWRIWKHZRUOGÀHHWE\YHVVHOW\SHVHOHFWHG\HDUV...................... 78
20.
Trends in surplus capacity by main vessel types, selected years ........................................................ 81
21.
Growth of demand and supply in container shipping, 2000–2009 ..................................................... 82
22.
Evolution of prices of new containers................................................................................................. 106
23.
Evolution of leasing rates.................................................................................................................... 107
24.
Trends in connectivity indicators. ....................................................................................................... 122
25.
WTO trade facilitation needs and priorities: self-assessments status ................................................. 133
26.
Growth in Africa, oil vs. non-oil economies, 2006–2008................................................................... 160
27.
Growth of GDP by African subregions 2006–2008............................................................................ 161
28.
Top and bottom performers in Africa ................................................................................................. 161
29.
Africa’s share of world trade, 1970–2007........................................................................................... 162
30.
Main international shipping lanes, Africa ........................................................................................... 164
31.
Burden of customs in Africa, 2007 ..................................................................................................... 171
32.
Annual average cost of importing a container .................................................................................... 176
33.
Main road, rail, sea, lake and river corridors in Africa ....................................................................... 176
34.
Average number of documents required for import............................................................................ 177
35.
Time to imports ................................................................................................................................... 177
Box
6FLHQWL¿FHYLGHQFHJOREDOZDUPLQJDQGVRPHDVVRFLDWHGHIIHFWV...................................................... 27
3RWHQWLDOHI¿FLHQF\JDLQVRIVHOHFWHGWHFKQRORJ\DQGRSHUDWLRQDOPHDVXUHV...................................... 30
3.
Contracting States parties to selected conventions on maritime transport,
as at 23 October 2009.......................................................................................................................... 149
ix
x
ABBREVIATIONS AND EXPLANATORY NOTES
Abbreviations
AEO
APEC
ASEAN
AU
BAF
BCI
bcm
BDI
bpd
BRIC
BWM Convention
CAF
cbm
CBP
c.i.f.
CIS
CO2
COMESA
COMESA-CD
CSR
DIS
dwt
EAC
ECA
ECOWAS
EEDI
EEOI
EIA
EORI
ERF
ESC
EU
FEU
FIS
FNTR
f.o.b.
FPSO
GATT
GDP
GHG
GT
ICC
ICIR
ICS
Authorized Economic Operator
$VLD3DFL¿F(FRQRPLF&RRSHUDWLRQ
Association of Southeast Asian Nations
African Union
bunker adjustment factor
Baltic Exchange Capesize Index
billion cubic metres
Baltic Exchange Dry Index
barrels per day
Brazil, Russian Federation, India and China
International Convention for the Control and Management of Ships’ Ballast Water
and Sediments
currency adjustment factor
cubic metres
United States Customs and Border Protection
cost, insurance and freight
Commonwealth of Independent States
carbon dioxide
Common Market for Eastern and Southern Africa
COMESA Customs Document
Special Register of Ships and Shipping Companies of the Canary Islands
Danish International Register of Shipping
deadweight tons
East African Community
Economic Commission for Africa
Economic Community of West African States
(QHUJ\(I¿FLHQF\'HVLJQ,QGH[
(QHUJ\(I¿FLHQF\2SHUDWLRQDO,QGLFDWRU
Energy Information Administration
(FRQRPLF2SHUDWRU5HJLVWUDWLRQDQG,GHQWL¿FDWLRQ
European Union Road Federation
European Shippers’ Council
European Union
40-foot equivalent unit
French International Ship Register
Fédération Nationale des Transports Routiers
free on board
ÀRDWLQJSURGXFWLRQVWRUDJHDQGRIÀRDGLQJ
General Agreement on Tariffs and Trade
gross domestic product
greenhouse gas
gross tons
International Chamber of Commerce
initial cash investment return
International Chamber of Shipping
ICT
ICTSI
IDE
IEA
IICL
ILO
IMB
IMF
IMO
IMSO
IPCC
IRU
ISO
ISPS Code
ITO
LDC
ldt
LLDC
LNG
LOA
LPG
LRIT
LSCI
mbd
MCCC
MDG
MEPC
mmt/y
MRA
MSC
mtoe
n.a.
NAFTA
n.e.s.
NGTF
NIS
OECD
OPEC
ppm
SACU
SAD
SADC
SDRs
SDT
SEMP
SIDS
SITC
SMEs
SOLAS Convention
information and communication technology
International Container Terminal Services Inc.
International Data Exchange
International Energy Agency
Institute of International Container Loss
International Labour Organization
International Maritime Bureau
International Monetary Fund
International Maritime Organization
International Mobile Satellite Organization
Intergovernmental Panel on Climate Change
International Road Transport Union
International Organization for Standardization
International Ship and Port Facility Security Code
international terminal operator
least developed country
light displacement ton
landlocked developing country
OLTXH¿HGQDWXUDOJDV
length overall
OLTXH¿HGSHWUROHXPJDV
/RQJ5DQJH,GHQWL¿FDWLRQDQG7UDFNLQJV\VWHP
Liner Shipping Connectivity Index
million barrels per day
Modernized Community Customs Code
Millennium Development Goal
Marine Environment Protection Committee
million metric tons per year
mutual recognition agreement
Maritime Safety Committee (IMO)
million tons oil equivalent
not available
North American Free Trade Agreement
QRWHOVHZKHUHVSHFL¿HG
Negotiating Group on Trade Facilitation
Norwegian International Ship Register
Organization for Economic Cooperation and Development
Organization of the Petroleum Exporting Countries
parts per million
Southern Africa Customs Union
South African document
Southern African Development Community
Special Drawing Rights
special and differential treatment
6KLS(I¿FLHQF\0DQDJHPHQW3ODQ
small island developing State
6WDQGDUG,QWHUQDWLRQDO7UDGH&ODVVL¿FDWLRQ
small and medium-sized enterprises
International Convention for the Safety of Life at Sea
xi
xii
TEU
THC
TNC
TRIE
UASC
ULCC
UNCITRAL
UN-DESA
UNDP
UNEP
UNFCCC
UNODC
VLCC
VLOC
VLOO
WAEMU
WCO
WEF
WMU
WS
WTO
20-foot equivalent unit
terminal handling charges
transnational corporation
Transit Routier Inter-Etats
United Arab Shipping Company
ultra-large crude carrier
United Nations Commission on International Trade Law
United Nations Department of Economic and Social Affairs
United Nations Development Programme
United Nations Environment Programme
United Nations Framework Convention on Climate Change
8QLWHG1DWLRQV2I¿FHRQ'UXJVDQG&ULPH
very large crude carrier
very large ore carrier
very large ore oiler
West African Economic and Monetary Union
World Customs Organization
World Economic Forum
World Maritime University
Worldscale
World Trade Organization
Explanatory notes
x The Review of Maritime Transport 2009 covers data and events from January 2008 until June 2009. Where
SRVVLEOHHYHU\HIIRUWKDVEHHQPDGHWRUHÀHFWPRUHUHFHQWGHYHORSPHQWV
x All references to dollars ($) are to United States dollars, unless otherwise stated.
x Unless otherwise stated, “ton” means metric ton (1,000 kg) and “mile” means nautical mile.
x Because of rounding, details and percentages presented in tables do not necessarily add up to the totals.
x Two dots (..) indicate that data are not available or are not separately reported.
x $K\SKHQVLJQL¿HVWKDWWKHDPRXQWLVQLORUOHVVWKDQKDOIWKHXQLWXVHG
x In the tables and the text, the terms countries and economies refer to countries, territories or areas.
x Since 2007, the presentation of countries in the Review of Maritime Transport is different from that in
SUHYLRXVHGLWLRQV6LQFHWKHQHZFODVVL¿FDWLRQLVWKDWXVHGE\WKH6WDWLVWLFV'LYLVLRQ8QLWHG1DWLRQV
Department of Economic and Social Affairs, as well as by UNCTAD in the Handbook of Statistics. For
the purpose of statistical analysis, countries and territories are grouped by economic criteria into three
categories, which are further divided into geographical regions. The main categories are developed
economies, developing economies, and transition economies. See annex I for a detailed breakdown of
the new groupings. Any comparison with data in pre-2007 editions of the Review of Maritime Transport
should therefore be handled with care.
xiii
Vessel groupings used in the Review of Maritime Transport
As in the previous year’s Review¿YHYHVVHOJURXSLQJVKDYHEHHQXVHGWKURXJKRXWPRVWVKLSSLQJWDEOHVLQWKLV
year’s edition. The cut-off point for all tables, based on data from Lloyd’s Register – Fairplay, is 100 gross tons
(GT), except those tables dealing with ownership, where the cut-off level is 1,000 GT. The groups aggregate
20 principal types of vessel category, as noted below.
Review group
Constituent ship types
Oil tankers
Bulk carriers
General cargo
Oil tankers
Ore and bulk carriers, ore/bulk/oil carriers
Refrigerated cargo, specialized cargo, roll on-roll off (ro-ro) cargo,
general cargo (single- and multi-deck), general cargo/passenger
Fully cellular
2LOFKHPLFDOWDQNHUVFKHPLFDOWDQNHUVRWKHUWDQNHUVOLTXH¿HG
gas carriers, passenger ro-ro, passenger, tank barges, general
FDUJREDUJHV¿VKLQJRIIVKRUHVXSSO\DQGDOORWKHUW\SHV
Includes all the above-mentioned vessel types
Container ships
Other ships
Total all ships
Approximate vessel size groups referred to in the Review of Maritime Transport, according to
generally used shipping terminology
Crude oil tankers
ULCC, double-hull
ULCC, single hull
VLCC, double-hull
VLCC, single hull
Suezmax crude tanker
Aframax crude tanker
Panamax crude tanker
350,000 dwt plus
320,000 dwt plus
200,000–349,999 dwt
200,000–319,999 dwt
125,000–199,999 dwt
80,000– 124,999 dwt; moulded breadth > 32.31m
50,000– 79,999 dwt; moulded breadth < 32.31m
Dry bulk and ore carriers
Large capesize bulk carrier
Small capesize bulk carrier
Panamax bulk carrier
Handymax bulk carrier
Handy-size bulk carrier
150,000 dwt plus
80,000–149,999 dwt; moulded breadth >32.31m
55,000–84,999 dwt; moulded breadth < 32.31m
35,000–54,999 dwt
10,000–34,999 dwt
Ore/Oil carrier
VLOO
200,000 dwt
Container ships
Post-Panamax Container ship
Panamax Container ship
moulded breadth >32.31m
moulded breadth < 32.31m
Source: Lloyd’s Register – Fairplay.
xiv
EXECUTIVE SUMMARY
$JDLQVWWKHEDFNJURXQGRIDJOREDO¿QDQFLDO The demolition of existing tonnage is not
crisis and economic downturn, growth in enough to compensate for the downturn in
seaborne trade continued, albeit at a slower demand and the increase in supply.
rate.
The year 2008 marked a major turning point in the
history of the world economy and trade. Growth in the
world economy slowed abruptly in the last part of 2008,
ZLWKWKHGHHSHQLQJRIWKHJOREDO¿QDQFLDOFULVLV*URZWK
in developing economies and countries with economies
in transition has turned out to be less resilient than
expected.
In tandem with the global economic downturn and reduced
trade, growth in international seaborne trade decelerated in
2008, expanding by 3.6 per cent as compared with 4.5 per
cent in 2007. The volume of international seaborne trade in
ZDVHVWLPDWHGDWELOOLRQWRQV5HÀHFWLQJDVKDUS
decline in demand for consumption goods, as well as a fall
in industrial production in major economies and reduced
energy demand, the deceleration in seaborne volumes
affected all shipping sectors.
Existing forecasts suggest that the outlook for seaborne
trade is uncertain and that some challenging times lie
ahead for shipping and international seaborne trade. These
challenges are further compounded by other developments,
including maritime security at sea and the need to address
the climate change challenge.
While demand fell, the supply of new vessels
continued to grow.
$WWKHEHJLQQLQJRIWKHZRUOGPHUFKDQWÀHHWUHDFKHG
1.19 billion deadweight tons, a year-on-year growth of
6.7 per cent compared to January 2008. This growth was
WKHUHVXOWRIYHVVHORUGHUVSODFHGEHIRUHWKH¿QDQFLDOFULVLV
when the industry was still expecting continuing high
growth rates in demand – which did not materialize (see
chapter 1). As the world’s shipping capacity continues to
increase even during the current economic downturn, the
LQGXVWU\¿QGVLWVHOIFRQIURQWHGZLWKDVXUJHRIRYHUVXSSO\
(see chapter 3) and tumbling charter and freight rates (see
chapter 4).
Since the beginning of the economic crisis, numerous orders
at the world’s shipyards have been cancelled. Shipbuilders
have been spending more time on renegotiating existing
contracts than on receiving new enquiries or orders.
Although new orders for most vessel types have practically
come to a standstill, vessels continue to be delivered by the
world’s shipyards, especially in the dry bulk segment. Even
without the current economic crisis, the tonnage that entered
the market in recent years would have led to an oversupply
of tonnage and a decline in vessel prices. Prices for scrap
metal in 2009 remain very low when compared to early
2008, and many vessel owners have preferred to hold on
and lay off their ships, hoping for better times to come.
As a consequence of falling demand and
increased supply, freight rates have fallen
from their 2008 highs.
The beginning of 2008 saw a continuation of the buoyant
trend experienced in the preceding year in all sectors.
However, by the start of the third quarter of 2008 things
KDG WDNHQ D WXUQ IRU WKH ZRUVH DV WKH JOREDO ¿QDQFLDO
crisis began to affect demand. Trade volumes in the bulk
cargo and liner sectors sustained dramatic declines, which
continued for the remainder of the year and well into
2009. The tanker market fared slightly better during 2008
compared to other sectors, although by the middle of 2009
all sectors were experiencing similar declines.
By the end of 2008, the effects of the global
economic crisis could be seen in all major
transport modes.
World container port throughput grew by an estimated
4 per cent to reach 506 million TEUs in 2008. Mainland
Chinese ports accounted for approximately 22.6 per cent of
the total world container port throughput. However, 2008
PDUNHGDWXUQLQJSRLQWIRUSRUWWKURXJKSXWDVZHOODVWUDI¿F
volumes on other modes of transport. In China, the Russian
)HGHUDWLRQDQG,QGLDUDLOIUHLJKWWUDI¿FPHDVXUHGLQWRQ
kilometres showed growth rates of 3.5 per cent, 5 per cent
and 8.4 per cent respectively for 2008. However, rail freight
WUDI¿FGHFOLQHGLQ(XURSHE\SHUFHQW,QERWK(XURSHDQG
WKH8QLWHG6WDWHVUDLOIUHLJKWGHFOLQHGVLJQL¿FDQWO\LQWKH
early months of 2009 compared to the same period in the
previous year.
2008 saw the United Nations General
Assembly adopt the “Rotterdam Rules”, a
new international convention on contracts
for the international carriage of goods wholly
or partly by sea.
After many years of preparatory work carried out under the
auspices of the United Nations Commission on International
Trade Law (UNCITRAL), the United Nations Convention
on Contracts for the International Carriage of Goods Wholly
or Partly by Sea was adopted by the United Nations General
Assembly in December 2008. The new Convention, which
UHTXLUHVUDWL¿FDWLRQVWRHQWHULQWRIRUFHZDVRSHQHGIRU
signature at a special signing conference held in Rotterdam
in September 2009 and will be known as the “Rotterdam
Rules”. Policymakers will now need to carefully consider
the merits of the new Convention and decide whether
it complies with their expectations, both in terms of its
substantive provisions and in terms of its potential to
SURYLGHLQWHUQDWLRQDOXQLIRUPLW\RIODZVLQWKH¿HOG
Since 2004, the World Trade Organization’s
Doha Development Round has been
negotiating on trade facilitation matters.
A major part of the trade facilitation measures proposed so
far focuses on the time needed for the release and clearance
of goods taking into account not only the loss of time,
but also the consequences in terms of possible damages,
opportunities missed and increased costs affecting the
competitiveness of the products. At the end of 2008 and
the beginning of 2009, the overall pace of negotiations
in the World Trade Organization’s Negotiating Group
on Trade Facilitation slowed down, with less time being
devoted to review of the textual proposals, and comments
made by delegations limited to oral interventions. This
situation changed in the second half of 2009, when signs
of a possible compromise on contentious issues of the
Doha Round emerged, and delegates adopted an ambitious
work plan for the period up until the ministerial conference
scheduled for early December 2009. Delegations are now
DLPLQJDW¿QDOL]LQJE\WKDWGDWHD¿UVWGUDIWWH[WIRUDQHZ
WTO agreement on trade facilitation.
xv
Key challenges for international cooperation
and regulation include piracy, supply-chain
security and climate change.
The great number of disturbing incidents of piracy and
armed robbery against ships – particularly off the Somali
coast and in the Gulf of Aden – have become an increasing
concern not only for the maritime industry that is heavily
affected by these incidents, but also for international
organizations, including the International Maritime
Organization (IMO) and the United Nations. Joint efforts
DUHEHLQJPDGHLQYDULRXVIRUXPVWR¿QGDGHTXDWHUHVSRQVHV
WRSLUDF\,QWKH¿HOGRIPDULWLPHDQGVXSSO\FKDLQVHFXULW\
HIIRUWVWRLPSOHPHQWDQGUH¿QHUHOHYDQWOHJDOLQVWUXPHQWV
and standards are ongoing. Noteworthy environmentrelated developments include IMO’s continued commitment
to making progress in a number of areas, including in
relation to reducing emissions of greenhouses gases
from international shipping and in its work towards the
establishment of a relevant global regime.
'HVSLWH WKH JOREDO ¿QDQFLDO FULVLV$IULFD
experienced strong growth in 2008. However,
Africa’s share of world trade remains at 2.7
per cent.
Every year, the Review of Maritime Transport gives
attention to transport developments in a particular region.
The focus in 2009 is on developments in Africa since 2006
when UNCTAD last reported on the region. Despite the
JOREDO¿QDQFLDOFULVLVWKHUHJLRQVWLOOH[SHULHQFHGVWURQJ
growth in 2008 (5.1 per cent), the top performers being
the resource-rich countries. Africa’s share of world trade
remains at 2.7 per cent. Global port-operating companies
have sought to expand along the main international African
shipping routes, however in some countries, physical,
legal, social and economic constraints have prevented
them from doing so effectively. High numbers of crossborder documents, poor inland connections, security issues,
excessive transaction costs and delays are common. This has
serious consequences in the case of landlocked countries,
whose dependence on transit countries complicates export
and import processes, with the costs of imported freight
HVWLPDWHG WR EH WKUHH WR ¿YH WLPHV KLJKHU WKDQ WKH
world average. In recent years, however, there has
been a growing recognition of the need to improve
port operations and inland connectivity in the region.
Even when new investments are being considered in
$IULFDWKHVHFRXOGEHDIIHFWHGE\WKHJOREDO¿QDQFLDO
crisis.
Chapter 1
DEVELOPMENTS IN INTERNATIONAL
SEABORNE TRADE
2QWKHKHHOVRIWKHXQIROGLQJJOREDO¿QDQFLDOFULVLVDQGHFRQRPLFGRZQWXUQJURZWKLQWKHZRUOGHFRQRP\
DQGLQJOREDOPHUFKDQGLVHH[SRUWVGHFHOHUDWHGLQDQGLVSURMHFWHGWRGHFOLQHLQ5HGXFHGJOREDO
SURGXFWLRQDQGGHPDQGDQGWKHUHVXOWLQJORZHUOHYHOVRIWUDGHKDYHXQGHUPLQHGJURZWKLQVHDERUQHWUDGH
'RZQVLGHULVNVLQFOXGLQJWKHDGYHUVHIHHGEDFNORRSEHWZHHQWKH¿QDQFLDOVHFWRUDQGWKHUHDOHFRQRP\PDNH
WKHRXWORRNIRUVHDERUQHWUDGHXQFHUWDLQ&OLPDWHFKDQJHDQGWKHQHHGWRDGRSWDQLQWHUQDWLRQDOUHJXODWRU\
UHJLPHIRUJUHHQKRXVHJDVHPLVVLRQVIURPLQWHUQDWLRQDOVKLSSLQJDUHDGGLQJDIXUWKHUFKDOOHQJHWRWKHPDULWLPH
WUDQVSRUWVHFWRU
A.
WORLD ECONOMIC SITUATION
AND PROSPECTS
1.
World economic growth1
then spreading to developing economies and countries
with economies in transition (table 1). World output in
2009 is projected to contract by 2.7 per cent, heralding
WKH¿UVWFRQWUDFWLRQLQJOREDORXWSXWVLQFHWKHV$V
demand for maritime transport is derived from economic
activities and trade, the global economic downturn
entails serious implications for the maritime transport
sector and seaborne trade.
The year 2008 marked a major turning point in the
history of the world economy and trade. Growth in the
world economy measured by gross domestic product
(GDP) slowed abruptly in the last part of 2008, as the
¿QDQFLDOFULVLVWKDWKDGVWDUWHGLQWKH8QLWHG6WDWHVLQ
2007 deepened and entered a more severe phase.
Developed economies are leading the global downturn,
with most of their economies already in recession.
$VDJURXSGHYHORSHGHFRQRPLHVDFKLHYHGDPHDJUH
Global GDP expanded by just
growth of 0.7 per cent in 2008.
2.0 per cent, a much slower rate
GDP grew by 1.1 per cent in the
Global GDP expanded by just
than the 3.7 per cent recorded in
8QLWHG6WDWHVDQGE\OHVVWKDQSHU
2.0 per cent, a much slower
2007, and below the annual average
FHQWLQWKH(XURSHDQ8QLRQ-DSDQ
rate than the 3.7 per cent
recorded in 2007 ...
rate of 3.5 per cent recorded during
and Italy were the hardest hit, with
the period 1994–2008. The overall
their outputs falling by 0.6 per cent
picture was one of continuing growth in the first DQGSHUFHQWUHVSHFWLYHO\$GYDQFHGHFRQRPLHVDUH
three quarters of 2008 with oil-exporting countries expected to shrink by 4.1 per cent in 2009.
LQ SDUWLFXODU EHQH¿WLQJ IURP UHFRUG KLJK FRPPRGLW\
prices, followed by faltering growth in late 2008 and Developing economies and countries with economies
LQWKH¿UVWKDOIRI±¿UVWLQGHYHORSHGUHJLRQVDQG in transition have also felt the brunt of the downturn.
1
2
In 2008, developing economies expanded output by
SHUFHQWGRZQIURPSHUFHQWLQ$OWKRXJK
VLJQL¿FDQWO\ UHGXFHG FRPSDUHG ZLWK LWV GRXEOHGLJLW
growth rate of the past few years, China continued to
lead, with its GDP growing by 9.0 per cent. Other major
GHYHORSLQJHFRQRPLHVLQFOXGLQJ%UD]LO,QGLDDQG6RXWK
$IULFD UHFRUGHG SRVLWLYH JURZWK DOWKRXJK DW VORZHU
rates compared to the performance they achieved in
Table 1
World economic growth, 2006–2009 a
(annual percentage change)
Region/country b
2006
2007
2008 c
2009 d
WORLD
3.9
3.7
2.0
-2.7
Developed economies
2.8
2.5
0.7
-4.1
United States
2.8
2.0
1.1
-3.0
Japan
2.0
2.4
-0.6
-6.5
European Union (27)
3.1
2.9
0.9
-4.6
Germany
3.0
2.5
1.3
-6.1
France
2.4
2.1
0.7
-3.0
Italy
1.9
1.5
-1.0
-5.5
United Kingdom
2.9
3.1
0.7
-4.3
7.2
7.3
5.4
1.3
China
11.1
11.4
9.0
7.8
India
9.7
9.0
7.3
5.0
Brazil
4.0
5.7
5.1
-0.8
South Africa
5.4
5.1
3.1
-1.8
7.5
8.4
5.4
-6.2
6.7
8.1
5.6
-8.0
RIZKLFK
RIZKLFK
Developing economies
RIZKLFK
Transition economies
RIZKLFK
Russian Federation
Source 81&7$'VHFUHWDULDWFDOFXODWLRQVEDVHGRQWKH8QLWHG1DWLRQV'HSDUWPHQWRI(FRQRPLFDQG6RFLDO$IIDLUV81
'(6$1DWLRQDO$FFRXQWV0DLQ$JJUHJDWHV'DWDEDVHDQGWKH:RUOG(FRQRPLF6LWXDWLRQDQG3URVSHFWV:(63
8SGDWHDVRIPLG2UJDQL]DWLRQIRU(FRQRPLF&RRSHUDWLRQDQG'HYHORSPHQW2(&'(FRQRPLF
2XWORRN1R3UHOLPLQDU\(GLWLRQ-XQH(FRQRPLF&RPPLVVLRQIRU/DWLQ$PHULFDDQGWKH&DULEEHDQ
(FRQRPLF6XUYH\RI/DWLQ$PHULFDDQGWKH&DULEEHDQ-XO\DQGQDWLRQDOVRXUFHV
a
Calculations for country aggregates are based on GDP at constant 2000 dollars.
b
5HJLRQVDQGFRXQWU\JURXSVFRUUHVSRQGWRWKRVHGH¿QHGLQWKH81&7$'¶VTrade and Development Report, 2009
c
Preliminary estimates.
d
Forecast.
3
1 - Developments in International Seaborne Trade
2007. In aggregate, developing economies are expected
to grow marginally in 2009 (1.3 per cent), with some
FRXQWULHVLQFOXGLQJ%UD]LODQG6RXWK$IULFDVXIIHULQJ
GDP contractions (of -0.8 per cent and -1.8 per cent,
respectively).
Countries with economies in transition are affected too,
with growth slowing to 5.4 per cent in 2008, compared
to a rate of 8.4 per cent in 2007. The 2009 outlook for
these economies is bleak, with GDP expected to fall by
6.2 per cent for the entire group, and by 8.0 per cent for
the Russian Federation.
partners had already entered into recession. Growth in
developing economies and countries with economies
in transition has turned out to be less resilient than
expected suggesting that there is no “decoupling” effect
between the economies of developed and developing
regions.
In an interdependent and globalized economy,
developing economies and countries with economies in
transition cannot be sheltered from the effects of a global
downturn. The rapid spread of the economic downturn
beyond advanced economies has been channelled –
DPRQJVW RWKHU WKLQJV ± WKURXJK ¿QDQFLDO DQG WUDGH
PHFKDQLVPVWKHFUHGLWFUXQFKKDVPDGHWUDGH¿QDQFH
GLI¿FXOWDQGH[SHQVLYHZKLOHJOREDOVXSSO\FKDLQVKDYH
acted as a conduit for the economic downturn. Therefore,
the world is witnessing a broad, deep and synchronized
GRZQWXUQZKLFKZLOOEHWKH¿UVWVLQFHWKHSRVWZDUHUD
VHH¿JD
While the spillover of the downturn from developed to
developing regions might have been slow, the contagion
could not be prevented. China – the main engine of
the global economic and trade expansion over recent
years – could not insulate itself from the effects of the
deteriorating economic situation when its major trading
Figure 1 (a)
World GDP growth, 2003–2009, selected countries
(annual percentage change)
15.0
10.0
5.0
0.0
2003
2004
2005
2006
2007
2008
2009
-5.0
-10.0
United States
Source:
EU
Japan
India
China
South Africa
Brazil
Russian Federation
81&7$'VHFUHWDULDWFDOFXODWLRQVEDVHGRQWKH8QLWHG1DWLRQV'HSDUWPHQWRI(FRQRPLFDQG6RFLDO$IIDLUV81
'(6$1DWLRQDO$FFRXQWV0DLQ$JJUHJDWHV'DWDEDVHDQGWKH:RUOG(FRQRPLF6LWXDWLRQDQG3URVSHFWV:(63
8SGDWHDVRIPLG2UJDQL]DWLRQIRU(FRQRPLF&RRSHUDWLRQDQG'HYHORSPHQW2(&'(FRQRPLF
2XWORRN1R3UHOLPLQDU\(GLWLRQ-XQH(FRQRPLF&RPPLVVLRQIRU/DWLQ$PHULFDDQGWKH&DULEEHDQ
(FRQRPLF6XUYH\RI/DWLQ$PHULFDDQGWKH&DULEEHDQ-XO\DQGQDWLRQDOVRXUFHV
4
Developments affecting industrial production provide
a good indicator of how severe the global downturn
may be, and the extent to which demand for maritime
transport services is being affected. Global industrial
production dropped by 13 per cent in late 20082 and
adversely affected demand for raw materials and energy.
The Industrial Production Index of the Organization
for Economic Cooperation and Development (OECD)
dropped from 106.8 in 2007 to 104.9 in 2008. It fell
VLJQL¿FDQWO\WRRYHUWKHODVWTXDUWHURIDQG
this was down from 108.5, 107.4 and 105.1 registered
GXULQJWKH¿UVWVHFRQGDQGWKLUGTXDUWHUVUHVSHFWLYHO\
%\-XQHWKH2(&',QGXVWULDO3URGXFWLRQ,QGH[KDG
dropped further, standing at 91.3. Industrial production
in emerging developing economies and countries with
economies in transition – including Brazil, India and
the Russian Federation – slowed too, albeit at a less
dramatic pace than advanced economies. In 2008,
industrial production in China increased on average
by 17.6 per cent, up from 16.4 per cent recorded in
2007.3+RZHYHUGXULQJWKH¿UVWHLJKWPRQWKVRI
industrial production in China was growing on average
by 8.2 per cent, less than half the annual growth rate
recorded in 2008.4
Highlighting the strong interdependence between
industrial production, economic growth, global trade and
PDULWLPHWUDQVSRUWVHUYLFHV¿JXUHELOOXVWUDWHVKRZ
these variables are moving in tandem, including falling
LQXQLVRQLQDQG$FRQWUDFWLRQLQLQGXVWULDO
production reduces output and trade, and by extension,
reduces demand for maritime transport services and
depresses global seaborne trade.
$JOREDOHFRQRPLFUHFRYHU\DQGE\H[WHQVLRQZRUOG
merchandise trade and demand for maritime transport
Figure 1 (b)
Indices for world economic growth (GDP), OECD Industrial Production Index
and world seaborne trade (volume), 1994–2009
(1994 = 100)
Source 81&7$'VHFUHWDULDWRQWKHEDVLVRI2(&'0DLQ(FRQRPLF,QGLFDWRUV-XQH81&7$'Trade and Development
Report 2009DQG81&7$'Review of Maritime Transport, various issues. The 2009 data for seaborne trade was
GHULYHGE\DSSO\LQJWKHJURZWKUDWHIRUHFDVWHGE\)HDUQOH\VDQG&ODUNVRQ5HVHDUFK6HUYLFHV7KHGDWDIRUWKH
volume of world merchandise trade was derived by applying the growth rate forecasted by WTO. Trade volumes data
DUHGHULYHGIURPFXVWRPVYDOXHVGHÀDWHGE\VWDQGDUGXQLWYDOXHVDQGDGMXVWHGSULFHLQGH[IRUHOHFWURQLFJRRGV
services, will, to a large extent, depend on actions
taken to reinvigorate economic activity, stimulate
consumption and investment, and promote trade.
Governments, individually, and as a group, including
within the framework of the G-20,5 are taking action and
pledging to help overcome the crisis. Governments at
WKH*PHHWLQJKHOGLQ/RQGRQLQ$SULODJUHHG
on an additional $1.1 trillion support programme which
LQFOXGHVDPRQJRWKHUWKLQJVVXSSRUWIRUWUDGH¿QDQFH
worth $250 billion. In addition, the Governments
of some 40 economies – including Governments in
developing regions, such as those of China and India –
KDYHWDNHQSROLF\PHDVXUHVERWKPRQHWDU\DQG¿VFDO
(amounting to approximately $21 trillion) to stabilize
WKHLUUHVSHFWLYH¿QDQFLDOVHFWRUVDQGWRVWLPXODWHWKHLU
national economies.6
7KH,0)SUHGLFWV±VXEMHFWWRWKHWLPHO\DQGHIIHFWLYH
implementation of the various policy and support
measures adopted or planned – that the global economy
will turn around in 2010, albeit at the sluggish rate of
1.9 per cent. It should be noted, however, that despite the
various efforts to pull the world economy out of recession,
FUHGLW FRQGLWLRQV UHPDLQ GLI¿FXOW JLYHQ WKH QHJDWLYH
IHHGEDFNORRSEHWZHHQWKH¿QDQFLDOVHFWRUDQGWKHUHDO
economy. Tighter credit conditions constrain investment
and consumer spending, which, in turn, prevent economic
UHFRYHU\DQGXQGHUPLQH¿QDQFLDOVWDELOLW\
2.
Merchandise trade7
Recent developments in international trade
5
6HSWHPEHU7KHJOREDOGRZQWXUQWKDWVWDUWHGLQODWH
2008 is considered particularly severe, with recorded
declines in trade being larger than in past slowdowns.
The most commonly cited reason within the maritime
industry for the speed with which the downturn has
VSUHDGWRJOREDOWUDGHLVWKHVKRUWDJHRIWUDGH¿QDQFH,Q
fact, banks stopped issuing letters of credit, and cargoes
could not be lifted and trades executed. Developing
HFRQRPLHV¶WUDGHLVSDUWLFXODUO\DIIHFWHGE\WKHVKRUWDJH
RI ILQDQFH 8QPHW GHPDQG IRU WUDGH ILQDQFLQJ LQ
developing economies is estimated to range between
$100 billion and $300 billion annually.9
,Q 1RUWK$PHULFDQ H[SRUW YROXPHV JUHZ E\
D PHDJUH SHU FHQW ZKLOH WKH (XURSHDQ 8QLRQ
registered the slowest export growth of any region. The
collapsing demand for imported goods, in particular
consumer goods, resulted in both regions recording sharp
IDOOVLQLPSRUWYROXPHVSHUFHQWIRU1RUWK$PHULFD
DQGSHUFHQWIRUWKH(XURSHDQ8QLRQ
Developing economies and transition economies
continued to drive growth in world merchandise trade,
DOEHLW DW D VORZHU SDFH WKDQ LQ $VLD ± OHG E\
China – expanded its export volumes by 4.5 per cent,
a dramatic fall from the double-digit rate recorded in
previous years. Growth in export volumes from China
slowed to 8.5 per cent, less than half the growth rate
UHFRUGHGLQ$VLD¶VLPSRUWV±DQGWKRVHRI&KLQD
in particular – also grew at a slower pace than in 2007.
$VLD¶VRSHQQHVVWRWUDGHKDVPDGHLWPRUHYXOQHUDEOHWR
the recession, especially those countries that rely heavily
on the production and export of manufactured goods, the
demand for which has substantially dropped.
7KHFROODSVHLQJOREDOGHPDQGKDVVLJQL¿FDQWO\LPSDFWHG
growth in world merchandise trade. In 2008, the volume
of world merchandise exports grew by 2.0 per cent, 2WKHUGHYHORSLQJUHJLRQVLQ$IULFDDQGWKH0LGGOH(DVW
four percentage points lower than 2007 (table 2). The expanded their export and import volumes despite the
magnitude of this deceleration is
relatively slower pace. Exporters of
In 2008, the volume of world
such that, unlike previous years,
primary commodities, including oil
merchandise exports grew by
growth in export volumes did not
and metals, maintained relatively
RXWSDFHJURZWKLQJOREDORXWSXW$V 2.0 per cent, four percentage
high import volume levels, as they
points
lower
than
2007.
VKRZQLQ¿JXUHWUDGHKDVXVXDOO\
EHQH¿WHGIURPJDLQVLQWKHWHUPVRI
grown at a faster rate than GDP, with
trade as a result of price surges in
trade expanding two to three times faster. The multiplier WKH¿UVWKDOIRI$IULFD¶VH[SRUWYROXPHVJUHZE\
effect is, to a large extent, the result of globalized 3.0 per cent in 2008, compared to 4.5 per cent in 2007,
production processes and trade in parts and components, ZKLOH LPSRUWV H[SDQGHG E\ SHU FHQW 6LPLODUO\
greater economic integration, and the deepening and H[SRUWYROXPHVIURPWKH0LGGOH(DVWJUHZE\SHU
widening of global supply chains.8
cent (4.0 per cent in 2007), while imports grew by
10.0 per cent (14.0 per cent in 2007). Import volumes in
$FFRUGLQJ WR WKH :RUOG 7UDGH 2UJDQL]DWLRQ :72 /DWLQ$PHULFDH[SDQGHGIDVWHUWKDQLQDQ\RWKHUUHJLRQ
monthly trade volumes of major developed and They increased at a double-digit rate (15.5 per cent),
developing economies have been falling in tandem since although at a slower pace than in 2007 and at a much
6
Table 2
Growth in the volume a of merchandise trade, by geographical region, 2006–2008
(percentages)
2006
Exports
2007
Countries/Regions
2006
Imports
2007
2008
2008
8.5
6.0
2.0
WORLD
8.0
6.0
2.0
8.5
5.0
1.5
North America
6.0
2.0
-2.5
7.5
3.5
0.0
European Union (27)
7.0
3.5
-1.0
1.5
4.5
3.0
Africa
10.0
14.0
13.0
3.0
4.0
3.0
Middle East
5.5
14.0
10.0
4.0
3.0
1.5
South and Central Americab
15.0
17.5
15.5
13.5
11.5
4.5
Asia
8.5
8.0
4.0
22.0
19.5
8.5
China
16.5
13.5
4.0
6.0
7.5
6.0
Commonwealth of Independent States (CIS)
20.5
20.0
15.0
Source :72SUHVVUHOHDVH:RUOGWUDGHSURVSHFWVIRU0DUFK
a
7UDGHYROXPHVGDWDDUHGHULYHGIURPFXVWRPVYDOXHVGHÀDWHGE\VWDQGDUGXQLWYDOXHVDQGDGMXVWHGSULFHLQGH[IRU
electronic goods.
b
Includes the Caribbean.
faster pace than did exports (1.5 per cent as compared
with 3.0 per cent in 2007).
economies are likely to be hit much harder as they rely
much more on trade for their growth and development.
For many developing economies, especially the most
The region with the fastest export volume growth and vulnerable and trade-dependent, a sharp decline in
the second-highest import volume in 2008 was the production, economic growth and trade constitutes a
&RPPRQZHDOWKRI,QGHSHQGHQW6WDWHV&,610 Export considerable setback to progress made to date in terms
volumes expanded by 6.0 per cent as compared with RI DOOHYLDWLQJ SRYHUW\ DQG DWWDLQLQJ WKH 0LOOHQQLXP
7.5 per cent in 2007, while imports
Development Goals. The World
grew by 15 per cent compared to
... growth in international
Bank estimates that over 40 per
seaborne trade continued
20 per cent in 2007.
cent of developing economies
albeit at the slower rate
are highly exposed to the poverty
of 3.6 per cent in 2008 as
Prospects for 2009 are rather gloomy.
effects of the crisis, and that in
$FFRUGLQJ WR :72 WKH YROXPH RI compared with 4.5 per cent
2009, 55 million more people in
in 2007.
world exports is expected to fall by
developing economies will live
SHU FHQW LQ WKH ¿UVW GURS
below the poverty line than was
VLQFH DQG WKH ODUJHVW VLQFH WKH 6HFRQG :RUOG expected before the crisis.
War. The maritime transport industry is concerned that
protectionist measures introduced in the face of the B.
WORLD SEABORNE TRADE11
global economic downturn may hinder trade further,
ultimately deepening the global recession.
1.
Overall seaborne trade
'HYHORSHGHFRQRPLHV¶WUDGHLVH[SHFWHGWRFRQWUDFWWKH
most, with exports falling by 14 per cent, while exports
of developing economies are expected to drop by 7 per
FHQW$OWKRXJK IDFHG ZLWK D UHODWLYHO\ OHVV GUDPDWLF
export fall than in developed economies, developing
Following the global economic downturn and sharp
decline in world merchandise trade in the last quarter of
2008, growth in international seaborne trade continued,
albeit at the slower rate of 3.6 per cent in 2008 as
FRPSDUHGZLWKSHUFHQWLQ81&7$'HVWLPDWHV
7
Figure 2
Indices for world economic growth (GDP) and world merchandise exports (volume), selected years
(1950 = 100)
3500
3000
Exports
2500
2000
1500
1000
GDP
500
1950
1952
1954
1956
1958
1960
1962
1964
1966
1968
1970
1972
1974
1976
1978
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
0
Source 81&7$'EDVHGRQ:RUOG7UDGH2UJDQL]DWLRQ7DEOH$7UDGH6WDWLVWLFV7UDGHYROXPHVGDWDDUHGHULYHG
IURPFXVWRPVYDOXHVGHÀDWHGE\VWDQGDUGXQLWYDOXHVDQGDGMXVWHGSULFHLQGH[IRUHOHFWURQLFJRRGV
the 2008 international seaborne trade at 8.17 billion tons
of goods loaded, with dry cargo continuing to account
for the largest share (66.3 per cent) (tables 3 and 4, and
¿J
at 4.7 per cent, as compared with 5.7 per cent in 2007.
$FFRXQWLQJIRUDERXWSHUFHQWRIZRUOGJRRGVORDGHG
in volume terms (tons), container trade recorded the
sharpest deceleration, with a growth rate falling by more
than half, from 11 per cent in 2007 to 4.7 per cent in
2008.120HDVXUHGLQWZHQW\IRRWHTXLYDOHQWXQLWV7(8
FRQWDLQHU WUDGH YROXPHV LQFUHDVHG IURP 0LOOLRQ
7(8VLQWR0LOOLRQ7(8VLQ136LJQVRI
reduced energy demand emerged in the oil trade sector,
especially in developed regions. Together the volume of
crude oil and products loaded grew by just 1.6 per cent,
as compared with 2.1 per cent in 2007.
Consistent with the past trend, major loading areas were
located in developing regions (60.6 per cent), followed
by developed economies (33.6 per cent) and countries
ZLWKWUDQVLWLRQHFRQRPLHVSHUFHQW$VLDFRQWLQXHG
to dominate the picture, with a share of 40 per cent of
total goods loaded, followed in descending order by the
$PHULFDV (XURSH$IULFD DQG 2FHDQLD ¿J D$V
VKRZQLQ¿JXUHERQSDJHGHYHORSLQJHFRQRPLHV
have consistently increased their share of global goods 6RPH FKDOOHQJLQJ WLPHV OLH DKHDG IRU WKH VKLSSLQJ
unloaded. Over the years, developing economies have industry and international seaborne trade. Forecasts for
increased their share of imports – including finished seaborne trade have been marked downwards, with dry
bulk – the mainstay of the boom
consumer goods, and also parts
experienced over the past few
and components used as inputs in
Some challenging times
years – projected to fall sharply.
globalized production processes.
lie ahead for the shipping
Experts at Fearnleys, a leading
industry and international
shipbroker, expect world seaborne
5HÀHFWLQJDVKDUSGHFOLQHLQGHPDQG seaborne trade.
trade to fall by 1.4 per cent in 2009,
for consumption goods, as well
as a fall in industrial production in major economies before turning around and growing at a slower rate of
and reduced energy demand, especially in developed SHUFHQWLQ$VLPLODURXWORRNLVSURMHFWHGIRU
regions, the deceleration in seaborne volumes affected all E\&ODUNVRQ6KLSSLQJ6HUYLFHVDQRWKHUOHDGLQJ
shipping sectors. Growth in dry bulk trade is estimated VKLSEURNHU)RU&ODUNVRQ5HVHDUFK6HUYLFHV14 are
8
Table 3
Development of international seaborne trade, selected years
(millions of tons loaded)
Year
Oil
Main bulks a
1970
1 442
448
676
2 566
1980
1 871
796
1 037
3 704
1990
1 755
968
1 285
4 008
2000
2 163
1 288
2 533
5 984
2006
2 648
1 888
3 009
7 545
2007
2 705
2 013
3 164
7 882
2008 b
2 749
2 097
3 322
8 168
Other dry cargo
Total
(all cargoes)
Source: (VWLPDWHGE\WKH81&7$'VHFUHWDULDWRQWKHEDVLVRIGDWDVXSSOLHGE\UHSRUWLQJFRXQWULHV
ports and specialized sources. Data have been updated to the most recent available.
a
Iron ore, grain, coal, bauxite/alumina and phosphate.
b
Preliminary.
expecting dry cargo volumes to fall by 4.4 per cent,
WKH¿UVWGURSVLQFH:LWKLQWKHGU\EXONWUDGHWKH
largest decline is expected to affect Phosphate Rock
YROXPHV SHU FHQW %DX[LWH DQG$OXPLQD per cent), Coal (-2.3 per cent) and Grains (- 0.6 per
cent). Iron ore volumes are expected to remain steady
due in particular to continued high import volumes
RI&KLQDZKLFKDUHGHWHUPLQHGQRWRQO\E\&KLQD¶V
consumption needs but also the prices negotiated for
LURQ RUH 1HJRWLDWHG LURQ RUH SULFHV GHWHUPLQH WKH
balance between use of locally produced and imported
iron ore.15 Oil trade, including crude and oil products,
is expected to remain at practically the same level as
$VIRUWKHIXWXUHSURVSHFWVIRUOLTXH¿HGQDWXUDO
gas trade, it will very much depend on the global
economic situation and energy demand as well as on
the completion of a number of ongoing projects.
forget the cyclical nature of shipping and its notorious
volatility.16 In common with other economic sectors –
and even more so in view of the fact that demand for
maritime transport services is derived from economic
growth and the need to carry goods between producers
and consumers as well as buyers and sellers – shipping is
vulnerable to economic downturns. The vulnerability of
shipping to the broader economic situation is illustrated
E\WKHVLJQL¿FDQWFRQWUDFWLRQLQWUDGHYROXPHVRIWKH
early-1980s recession, and also by the slowdown in the
growth of global seaborne trade in the late 1990s when
WKH$VLDQ¿QDQFLDOFULVLVHUXSWHG$WWKHVDPHWLPHWKHVH
precedents also underscore the ability of shipping and
seaborne trade to rebound and recover from economic
downturns and reduced trade.
6LQFHWKHHDUO\VWKHVKLSSLQJLQGXVWU\DQGJOREDO
VHDERUQHWUDGHH[SDQGHGDWKHDOWK\UDWHVEHQH¿WLQJLQ
particular from the boom in trade driven by the economic
expansion of emerging dynamic developing economies
such as China and India. The buoyant markets that
emerged, and the sustained record-high freight rates
(see chapter 4 for more details) made the world almost
7KHFXUUHQWSUHRFFXSDWLRQZLWKWKH¿QDQFLDOFULVLVDQG
global recession should not play down concerns over
other challenges that affect maritime transport and
seaborne trade. These include, for example, security
at sea, which is being challenged by a surge in piracy
incidents in key strategic transit points such as the Gulf of
$GHQVHHFKDSWHUIRUPRUHGHWDLOV,QWKHULVHLQ
Other developments affecting seaborne trade
9
Table 4
World seaborne trade in 2006–2008, by type of cargo and country group
Country group
Year
Goods loaded
Total
World
Developed economies
Africa
America
Asia
Oceania
2006
2007
2008
2006
2007
2008
2006
2007
2008
2006
2007
2008
2006
2007
2008
2006
2007
2008
2006
2007
2008
2006
2007
2008
7 545.0
7 882.0
8 168.0
2 460.5
2 623.6
2 742.0
410.3
417.9
480.2
4 674.2
4 840.6
4 945.8
704.0
719.6
718.7
1 030.7
1 076.8
1 135.6
2 932.7
3 037.0
3 084.2
6.8
7.1
7.3
Crude Products
1 783.0
1 813.9
1 834.1
132.9
134.2
116.9
123.1
124.4
133.4
1 527.0
1 555.3
1 583.8
353.8
362.5
358.8
251.3
252.3
258.6
917.6
936.0
961.8
4.4
4.5
4.6
Goods unloaded
Dry
cargo
Total
Millions of tons
865.2 4 896.9 7 720.1
891.1 5 177.1 8 061.3
915.3 5 418.6 8 180.7
336.4 1 991.3 4 165.7
363.5 2 125.8 3 990.5
375.4 2 249.7 4 028.7
41.3
245.9
70.6
39.9
253.7
76.8
33.9
312.8
88.1
487.5 2 659.7 3 483.7
487.8 2 797.5 3 994.1
506.1 2 856.0 4 063.9
86.0
264.2
357.5
81.8
275.3
376.6
83.7
276.2
377.7
93.9
685.5
376.3
90.1
734.5
423.0
100.1
776.9
432.8
307.5 1 707.7 2 737.0
315.7 1 785.3 3 181.0
322.1 1 800.3 3 239.7
0.1
2.4
12.9
0.1
2.5
13.5
0.1
2.5
13.8
Crude Products
Dry
cargo
1 833.2
1 995.0
1 891.4
1 283.0
1 246.0
1 180.8
5.6
7.3
6.3
544.6
741.7
704.3
41.1
45.5
42.2
49.6
76.0
78.8
453.9
620.2
583.2
0.0
0.0
0.0
4 991.9
5 160.1
5 379.4
2 347.2
2 220.5
2 337.1
61.9
66.0
77.4
2 582.8
2 873.6
2 964.9
276.5
285.6
290.3
266.6
283.0
288.5
2 033.5
2 298.6
2 379.4
6.2
6.5
6.6
895.0
906.2
910.0
535.5
524.0
510.8
3.1
3.5
4.5
356.4
378.7
394.7
39.9
45.5
45.2
60.1
64.0
65.4
249.6
262.2
277.0
6.7
7.0
7.1
(continued over)
SLUDF\DFWLYLWLHVLQWKH*XOIRI$GHQEURXJKWWKHLVVXHRI
maritime security to the forefront of international debate.
In addition to the direct impact on ships, crews and
cargoes, and on the maritime industry and governments,
piracy threatens global seaborne trade (over 80 per cent
of international seaborne trade moving through the
*XOIRI$GHQLVZLWK(XURSH17 and impacts on energy
security and the environment. By hijacking large tankers,
seizing their cargoes, and delaying or preventing their
delivery, and by causing oil spills or other incidents
causing environmental damage, piracy poses additional
risks and costs to all. The implications entail increased
military presence and operations in affected areas, the
UHURXWLQJRIVKLSVWRE\SDVVWKH*XOIRI$GHQDQGWKH
6XH]&DQDOKLJKHULQVXUDQFHSUHPLXPVDQGLQFUHDVHG
costs associated with the hiring of security personnel
and the installation of deterrent equipment.
Carriers can either avoid the piracy-ridden areas by rerouting their ships via the Cape of Good Hope, or accept
additional risks and costs and continue to sail along the
same lanes.18 Re-routing via the Cape of Good Hope
will likely affect the Egyptian authorities (e.g. foreign
FXUUHQF\ HDUQLQJV *'3 WKH 6XH] &DQDO$XWKRULW\
HJRSHUDWLQJHDUQLQJVXQHPSOR\PHQW0HGLWHUUDQHDQ
port authorities and terminals (e.g. reduced vessel calls
and transhipments), and also industry and consumers
because of additional costs. Based on 2007 data, the
WRWDO DQQXDO URXQGWULS FRVWV RI URXWLQJ YLD WKH 6XH]
Canal has been estimated at $25.7 billion, whereas
10
Table 4 (continued)
Country group
Year
Goods loaded
Total
World
Developed economies
Africa
America
Asia
Oceania
2006
2007
2008
2006
2007
2008
2006
2007
2008
2006
2007
2008
2006
2007
2008
2006
2007
2008
2006
2007
2008
2006
2007
2008
100.0
100.0
100.0
32.6
33.3
33.6
5.4
5.3
5.9
62.0
61.4
60.6
9.3
9.1
8.8
13.7
13.7
13.9
38.9
38.5
37.8
0.1
0.1
0.1
Crude Products
23.6
23.0
22.5
7.5
7.4
6.4
6.9
6.9
7.3
85.7
85.7
86.4
19.8
19.8
19.6
14.1
13.9
14.1
51.5
51.6
52.4
0.2
0.3
0.3
Goods unloaded
Dry
cargo
Total
Percentage share
11.5
64.9
100.0
11.3
65.7
100.0
11.2
66.3
100.0
38.9
40.7
54.0
40.8
41.1
49.5
41.0
41.5
49.3
4.8
5.0
0.9
4.5
4.9
1.0
3.7
5.8
1.1
56.3
54.3
45.1
54.7
54.0
49.6
55.3
52.7
49.7
9.9
5.4
4.6
9.2
5.3
4.7
9.2
5.1
4.6
10.9
14.0
4.9
10.1
14.2
5.3
10.9
14.3
5.3
35.5
34.9
35.5
35.4
34.5
39.5
35.2
33.2
39.6
0.0
0.1
0.2
0.0
0.1
0.2
0.0
0.1
0.2
Crude Products
23.8
24.8
23.1
70.0
62.5
62.4
0.3
0.4
0.3
29.7
37.2
37.2
2.2
2.3
2.2
2.7
3.8
4.2
24.8
31.1
30.8
0.0
0.0
0.0
11.6
11.2
11.1
59.8
57.8
56.1
0.4
0.4
0.5
39.8
41.8
43.4
4.5
5.0
5.0
6.7
7.1
7.2
27.9
28.9
30.4
0.8
0.8
0.8
Dry
cargo
64.7
64.0
65.8
47.0
43.0
43.5
1.2
1.3
1.4
51.7
55.7
55.1
5.5
5.5
5.4
5.3
5.5
5.4
40.7
44.6
44.2
0.1
0.1
0.1
Source (VWLPDWHGE\WKH81&7$'VHFUHWDULDWRQWKHEDVLVRIGDWDVXSSOLHGE\UHSRUWLQJFRXQWULHVSRUWVDQGVSHFLDOL]HG
sources. Data have been updated to the most recent available.
costs – including inventory costs of cargo – when ships
are routed via the Cape of Good Hope are estimated at
$32.2 billion.19 Taking into account all cost factors, it
was estimated that re-routing 33 per cent of cargo via the
Cape would cost shipowners an additional $7.5 billion
per annum.20 These costs will ultimately be passed on
to shippers and consumers.
,QGHSHQGHQWO\RIWKHSLUDF\FRQFHUQVWKHFRQÀXHQFHRI
other factors, including the global economic downturn,
the fall in oil prices and, by extension, in fuel costs, as well
as the decline in trade volumes, have already resulted in
large containerships being re-routed via the Cape of Good
+RSH)RUH[DPSOH0DHUVN/LQH¶V$(VHUYLFHKDVEHHQ
URXWHGYLDWKH&DSHRQLWVHDVWERXQGOHJWR$VLD&0$
&*0 DQG &KLQD 6KLSSLQJ &RQWDLQHU /LQH KDYH WDNHQ
similar action with a joint service.21 While taking this
longer route leads to greater fuel consumption and adds
another 7 to 10 days as ships continue to reduce speed,
lines were considering it more economical. However, as
bunker fuel prices started to increase in mid-2008,22 the
decision to divert various ships around the Cape of Good
Hope was being revisited and the policy of re-routing to
the Cape of Good Hope was being reversed.23
6KLSVWKDWFRQWLQXHWRWUDQVLWYLDWKH*XOIRI$GHQDQG
WKH6XH]&DQDOKDYHWRSXUFKDVHDZDUULVNLQVXUDQFH
coverage at $20,000 per ship per voyage (excluding
injury, liability and ransom coverage), as compared
with the $500 required a year ago to purchase additional
11
Figure 3
International seaborne trade, selected years
(millions of tons loaded)
Container
Source:
Review of Maritime Transport YDULRXV LVVXHV 'DWD IRU FRQWDLQHU WUDGH EDVHG RQ &ODUNVRQ 5HVHDUFK 6HUYLFHV
6KLSSLQJ5HYLHZ'DWDEDVH6SULQJ
insurance coverage.24 Overall, it is estimated that the
increased cost of war risk insurance premiums for the
VKLSVSDVVLQJWKURXJKWKH*XOIRI$GHQFRXOG
reach as much as $400 million.25
In addition to security at sea, shipping and seaborne trade
are affected by developments pertaining to a number
of other intertwined issues, namely energy security,
energy prices and bunker fuel costs, as well as climate
change. The climate change challenge, in particular,
entails critical implications for shipping and trade in
view of the current negotiations under the auspices of
WKH8QLWHG1DWLRQV)UDPHZRUN&RQYHQWLRQRQ&OLPDWH
&KDQJH81)&&&6HWWRFRQFOXGHLQ'HFHPEHU
these negotiations aim to adopt a successor agreement
WRWKH.\RWR3URWRFRO6XFKDQDJUHHPHQWLVH[SHFWHGWR
include a regulatory regime for greenhouse gas emissions
IURP LQWHUQDWLRQDO VKLSSLQJ 1R GRXEW DQ\ VXFK
instrument will affect the maritime transport industry
and international seaborne trade (see section D).
2.
World shipments by country groups
Developed economies
In 2008, developed economies accounted for 33.6 per
cent of global goods loaded. Europe accounted for the
OLRQ¶VVKDUHRIWKLVWRWDOZLWKSHUFHQWIROORZHG
E\$XVWUDOLDDQG1HZ=HDODQGSHUFHQW1RUWK
$PHULFDSHUFHQWDQG,VUDHODQG-DSDQSHU
cent). Dry cargo remained the mainstay of developed
UHJLRQV¶H[SRUWV'HYHORSHGHFRQRPLHVDFFRXQWHGIRU
49.3 per cent of all goods unloaded at ports globally.
Goods unloaded in European ports accounted for
47.7 per cent of all goods unloaded globally. The nextODUJHVW LPSRUWHU RI JRRGV E\ VHD ZDV 1RUWK$PHULFD
SHUFHQWIROORZHGE\$XVWUDOLDDQG1HZ=HDODQG
SHUFHQWDQG¿QDOO\E\,VUDHODQG-DSDQSHU
FHQW0RUHWKDQKDOIWKHJRRGVXQORDGHGDWGHYHORSHG
HFRQRPLHV¶SRUWVZHUHPDGHRIGU\FDUJRZLWKFUXGHRLO
imports accounting for a little less than one third.
12
Figure 4 (a)
World seaborne trade, by country group and region, 2008
(percentage share in tonnage)
Source &RPSLOHGE\WKH81&7$'VHFUHWDULDWRQWKHEDVLVRIGDWDVXSSOLHGE\UHSRUWLQJFRXQWULHVSRUWVDQGVSHFLDOL]HG
sources.
Figure 4 (b)
Developing countries’ seaborne trade, selected years
(percentage share in tonnage)
Source:
Review of Maritime Transport, various issues.
In 2008, 60.6 per cent of goods loaded in the world
RULJLQDWHGLQGHYHORSLQJUHJLRQV$WRWDORISHUFHQW
of global seaborne imports were received at developing
HFRQRPLHV¶SRUWVVHH¿JE,QRYHUSHU
cent of crude oil exported by sea globally and 55.3 per
cent of total world exports of petroleum products
originated in developing economies. In terms of goods
unloaded, ports in developing economies accounted
for 55.1 per cent of world dry cargo imports, 43.4 per
cent of world petroleum products, and 37.2 per cent
RIFUXGHRLO'HYHORSLQJ$VLDFRQWLQXHVWRDFFRXQWIRU
WKH ODUJHVW VKDUH RI GHYHORSLQJ HFRQRPLHV¶ VHDERUQH
trade. Transition economies accounted for 5.9 per cent
of world goods loaded and 1.1 per cent of world goods
unloaded. Crude oil shipments loaded at their ports are
estimated to have reached 7.3 per cent of total world oil
ORDGHGUHÀHFWLQJLQSDUWLFXODULQFUHDVLQJRLOH[SRUWV
IURPWKH&,6
3.
Demand for shipping services
Demand for maritime transport services is more
DGHTXDWHO\H[SUHVVHGLQWRQPLOHVDVWKLVUHÀHFWVWKH
evolution of both the cargo volumes as well as the
distances travelled and the geographical distribution
RIVXSSOLHUVDQGFRQVXPHUVDQGEX\HUVDQGVHOOHUV$V
indicated in table 5, and based on estimates by Fearnleys,
world seaborne trade measured in ton-miles amounted
to 32,746 billion ton-miles in 2008. This represents an
increase of 4.2 per cent over the previous year, a rate
equivalent to the Fearnleys estimated growth rate for
seaborne trade measured in tons.
In 2008, dry cargo ton-miles increased by 5.5 per cent,
up from 5.3 per cent recorded in 2007. Ton-miles for the
¿YHPDMRUGU\EXONVVORZHGGRZQLQFUHDVLQJRQO\E\
5.0 per cent – down from a 7.0 per cent increase in 2007.
For the remaining dry cargoes (minor bulks and liner
FDUJRHVWRQPLOHVH[SDQGHGE\SHUFHQWUHÀHFWLQJ
mainly growth in volumes.
7KHQHZJHRJUDSK\RIWUDGHHJ6RXWK±6RXWKWUDGH
changes in the composition of trade, and a larger share of
trade in parts and components) and deeper international
HFRQRPLF LQWHJUDWLRQ DUH WR VRPH H[WHQW UHÀHFWHG LQ
WKH¿JXUHVIHDWXUHGLQWDEOH7RQPLOHVLQFUHDVHGE\
a factor of three between 1970 and 2000, and expanded
by 43 per cent between 2000 and 2008. Rapid growth in
ZRUOGWRQPLOHVSDUWO\UHÀHFWVWKHJURZLQJLPSRUWDQFH
of some dynamic emerging developing economies, such
13
as China and India. Industrialization in these economies,
their fast-growing demand for raw materials required for
industrial production, and their desire to diversify sources
of supply have led these economies to tap into resources
IRXQG LQ GLVWDQW ORFDWLRQV VXFK DV /DWLQ$PHULFD DQG
$IULFD ,Q DGGLWLRQ WR WKH ZRUOG HFRQRPLF DQG WUDGH
situation and prospects, the outlook for ton-miles will
also depend on policies and measures affecting the
FRPSRVLWLRQDQGGLUHFWLRQRIWUDGHÀRZVHJPHDVXUHV
to promote energy security by switching to alternative
energies, promoting domestic production over imports,
and climate-change action favouring sourcing from
shorter distances or switching to cleaner fuel sources
etc.). Growth in world ton-miles will also likely be
LQÀXHQFHGE\WKHGHYHORSPHQWVWDJHRIHFRQRPLHV6RPH
fast-growing developing regions will likely become
much less dependent on the industrial or agricultural
sectors. Consumption needs in some economies may
HYROYHWRUHÀHFWKLJKHULQFRPHVDQGPRUHVRSKLVWLFDWHG
consumption preferences. These structural changes are
likely to affect demand for maritime transport services
and maritime transport activity measured in ton-miles.
C.
SECTORS OF WORLD SEABORNE
TRADE
1.
Seaborne trade in crude oil and
petroleum products26
General developments affecting oil seaborne trade
In 2008, the oil seaborne trade was particularly affected
by developments in energy prices and markets, by the
ZRUOGHFRQRPLFVLWXDWLRQDQGE\WKHULVLQJSUR¿OHRI
environmental considerations, including global climate
change.
)RUWKH¿UVWWLPHVLQFHWKHVJOREDORLOGHPDQGIHOO
in the third quarter of 2008, as a result of reduced demand
LQGHYHORSHGHFRQRPLHVHVSHFLDOO\LQ-DSDQDQGLQWKH
8QLWHG 6WDWHV ZKLFK VDZ LWV ELJJHVW IDOO VLQFH 7KH HFRQRPLF GRZQWXUQ GDPSHQHG WKHVH HFRQRPLHV¶
demand for energy, owing to a reduction in production,
manufacturing and consumer demand for goods.
In 2008, energy consumption in developing economies
and countries with economies in transition continued
to grow, although at a slower pace, with consumption
DPRQJH[SRUWLQJUHJLRQVLQWKH0LGGOH(DVWDQG$IULFD
remaining robust. While the outlook for 2009 and beyond
will depend on the extent and duration of the economic
14
Table 5
World seaborne trade in ton-miles, selected years
(billions of ton-miles)
Year
Crude
Oil
Iron ore
Products Crude plus
products
Coal
Graina Five main Other dry
dry bulksb cargoes
World
total
1970
5 597
890
6 487
1 093
481
475
2 049
2 118
10 654
1980
8 385
1 020
9 405
1 613
952
1 087
3 652
3 720
16 777
1990
6 261
1 029
7 290
1 978
1 849
1 073
5 259
3 891
16 440
2000
8 180
1 319
9 499
2 545
2 509
1 244
6 638
6 790
22 927
2001
8 074
1 345
9 419
2 575
2 552
1 322
6 782
6 930
23 131
2002
7 848
1 394
9 898
2 731
2 549
1 241
6 879
7 395
23 516
2003
8 390
1 460
9 850
3 035
2 810
1 273
7 118
7 810
25 124
2004
8 795
1 545
10 340
3 444
2 960
1 350
9 521
8 335
26 814
2005
2006
2007
2008
8 875
8 983
9 214
9 300
1 652
1 758
1 870
1 992
10 527
10 741
11 084
11 292
3 918
4 192
4 544
4 849
3 113
3 540
3 778
3 905
1 686
1 822
1 927
2 029
9 119
9 976
10 676
11 209
8 730
9 341
9 665
10 245
28 376
30 058
31 425
32 746
Source:
Fearnleys Review, various issues.
a
Includes wheat, maize, barley, oats, rye, sorghum and soya beans.
b
Includes iron ore, coal, grain, bauxite/alumina and phosphate.
GRZQWXUQDQG¿QDQFLDOFULVLVWKH,QWHUQDWLRQDO(QHUJ\
$JHQF\,($H[SHFWVRLOGHPDQGWRIDOOE\PLOOLRQ
barrels per day (mbd) in 2009.
In 2008, global oil supply was not constrained, and
remained above 2007 levels with production growth
exceeding consumption growth due to increased
production by the Organization of Petroleum Exporting
Countries (OPEC). Increased production in OPEC
countries helped offset the fall in non-OPEC production,
QDPHO\IURP0H[LFRDQGWKH1RUWK6HD
In addition to developments affecting oil supply and
GHPDQG RLO SULFHV ÀXFWXDWHG VLJQL¿FDQWO\ WKURXJKRXW
GHFOLQLQJVKDUSO\EHIRUH¿[LQJDWDPXFKORZHU
OHYHO ZLWK WKH DEUXSW HUXSWLRQ RI WKH JOREDO ¿QDQFLDO
DQG HFRQRPLF FULVHV$IWHU ULVLQJ VWHDGLO\ WKURXJKRXW
2007, oil prices, as illustrated by Brent spot prices,27
VXUSDVVHGWKHSHUEDUUHOSEPDUNLQ-XO\
before crashing to a low of $33.73 pb in December 2008,
WUHQGLQJ XSZDUGV DJDLQ LQ WKH ¿UVW KDOI RI DQG
KRYHULQJDURXQGSELQ6HSWHPEHU%UHQWVSRW
SULFHVLQFUHDVHGE\RYHUSHUFHQWEHWZHHQ-DQXDU\
DQG-XO\DQGWKHQIHOOE\SHUFHQWEHWZHHQ
-XO\ DQG 'HFHPEHU 5LVLQJ RLO SULFHV UHÀHFWHG
the tight balance between supply and demand and the
effect of increased speculation. Despite oil production
cuts announced by OPEC in October 2008, crude oil
prices continued to fall, with average crude oil prices
for 2008 nevertheless remaining higher than in 2007.
$QQXDORLOSULFHVLQFUHDVHGIRUWKHVHYHQWKFRQVHFXWLYH
\HDU D ¿UVW LQ WKH QHDUO\ \HDU KLVWRU\ RI WKH RLO
industry. Combined with the economic slowdown, the
relatively higher average oil prices implied higher import
ELOOVZKLFKFRQWULEXWHGWRNHHSLQJRLOGHPDQGÀDWLQ
2008. Prices for natural gas and coal followed similar
trajectories. During 2008, all types of primary energy
VDZWKHLUDYHUDJHSULFHVLQFUHDVHVLJQL¿FDQWO\
With the collapse in energy prices in the last part of 2008,
it must be taken into consideration that low oil prices
have the potential to provide disincentives to undertake
the much needed investments in energy-related
infrastructure and technology, and in alternative energy.
0DUNHGO\ORZHQHUJ\SULFHVGLVFRXUDJHLQYHVWPHQWLQ
exploration and production, especially in the context
of the steady rise in the extraction and processing
costs associated with reservoir characteristics and
LQFUHDVLQJO\ UHPRWH RU GLI¿FXOWWRDFFHVV GLVFRYHULHV
Environmental considerations also often add to the end
SURGXFWLRQFRVW6FDOLQJXSLQYHVWPHQWVLQWKHVHDUHDV
is considered crucial to address the triple challenge of
meeting energy needs, environmental sustainability, and
economic growth and development. The International
Energy Outlook 2009 RI WKH 8QLWHG 6WDWHV (QHUJ\
,QIRUPDWLRQ$GPLQLVWUDWLRQSURMHFWVWKHZRUOGPDUNHW
energy consumption to increase by 44 per cent between
2006 and 203028 (slower than the growth projected by
WKH ,($¶V World Energy Outlook 2008). Total world
energy use is projected to grow by 17 per cent between
2006 and 2015, and by about 23 per cent between 2015
and 2030, with non-OECD economies accounting for
WKH ODUJHVW VKDUH RI WKH JURZWK /LTXLGV DUH H[SHFWHG
WR UHPDLQ WKH ZRUOG¶V GRPLQDQW HQHUJ\ VRXUFH JLYHQ
their importance for transportation. World consumption
of liquids and other petroleum is forecast to grow
from 85 mbd in 2006 and 107 mbd in 2030, with
unconventional liquids making up about 13 per cent of
total liquid production.
$V HFRQRPLF UHFRYHU\ LV DQWLFLSDWHG WR UHHPHUJH
in 2010,29 all countries are expected to resume their
appetite for energy. However, the speed, scale and order
RIWKLVUHFRYHU\DUHGLI¿FXOWWRSUHGLFWZLWKFHUWDLQW\
PDNLQJIXWXUHHQHUJ\SURMHFWLRQVDGLI¿FXOWWDVN7KH
,($SUHGLFWVWKDWWRPHHWWKHSURMHFWHGJOREDOGHPDQG
in 2030, about $26 trillion of infrastructure-related
LQYHVWPHQWVHJRIIVKRUHULJVSLSHOLQHVUH¿QHULHVDQG
pump units) will be needed. Given the current worldwide
HFRQRPLFDQG¿QDQFLDOFULVHVWKH,($DOVRSUHGLFWVWKDWD
VLJQL¿FDQWLQYHVWPHQWGHFOLQHLQWKHJOREDOHQHUJ\VHFWRU
will occur in 2009. Investment in oil and gas exploration
is expected to slide by 21 per cent or $100 billion in 2009,
as compared with 2008.30 $V RLO SULFHV GR QRW FRYHU
production costs, new exploration projects are being
FDQFHOOHG:LWKIRVVLOIXHOVEHLQJ¿QLWHDQGLQFUHDVLQJO\
depleted, and with world economic growth expected to
pick up in 2010, oil prices have the potential to surge
again and disrupt the supply and demand balance.
The opportunity offered by the various stimulus packages,
DQGWKHVRFDOOHG*OREDO*UHHQ1HZ'HDOVSHDUKHDGHG
E\WKH8QLWHG1DWLRQV(QYLURQPHQW3URJUDPPH81(3
WRJHWKHU ZLWK RWKHU 8QLWHG 1DWLRQV RUJDQL]DWLRQV LV
one of the initiatives that could provide certain options
out of the current dilemma.317KH*OREDO*UHHQ1HZ
Deal also has the potential to help reshape the future
landscape of oil supply and demand, as well as its trade
DQGWUDQVSRUW7KH*OREDO*UHHQ1HZ'HDOLQSDUWLFXODU
aims to revive the international economy and forge a new
15
global economic development that is environmentally
sustainable and supportive of the achievement of the
0LOOHQQLXP'HYHORSPHQW*RDOV
$Q LPSRUWDQW FRQVLGHUDWLRQ LQ DQ\ GHEDWH RQ HQHUJ\
security and environmental sustainability is the
potential for renewable energy to supplement and/or
UHSODFH¿QLWHIRVVLOIXHOVRXUFHV7KHUHQHZDEOHHQHUJ\
sectors continued to grow, despite the global economic
downturn. Projects continued to progress and much
economic stimulus legislation included components for
supporting renewable energy. Development assistance
for renewables in developing economies expanded,
UHDFKLQJDERXWELOOLRQLQ0DQ\IRUPVRISROLF\
support measures, such as subsidy programmes and new
ODZVDQGSROLFLHVZHUHDGRSWHGHJLQ$XVWUDOLD%UD]LO
&KLOH&KLQD(J\SW-DSDQ/X[HPERXUJ0H[LFRWKH
1HWKHUODQGV6RXWK$IULFDWKH6\ULDQ$UDE 5HSXEOLF
8JDQGD DQG WKH 8QLWHG 6WDWHV32 $QQXDO UHQHZDEOH
energy investment increased by a factor of four since
WRUHDFKELOOLRQLQ6RODUSKRWRYROWDLF
capacity increased sixfold, while wind power capacity
increased 250 per cent, and total power capacity from
UHQHZDEOHVLQFUHDVHGSHUFHQWLQFOXGLQJVLJQL¿FDQW
gains in small hydro, geothermal, and biomass power
JHQHUDWLRQ 7KH 8QLWHG 6WDWHV EHFDPH WKH OHDGHU LQ
new capacity investment, with $24 billion invested, or
20 per cent of total global investment, and overtook
Germany, the long-time wind power capacity leader.
)RUWKH¿IWKFRQVHFXWLYH\HDU&KLQDGRXEOHGLWVZLQG
capacity, moving up the ranks to become fourth in the
world. Developing economies, particularly India and
China, are increasingly playing a major role in both the
manufacture and installation of renewable energy.33
Oil production and consumption
In 2008, global oil production34 increased by 0.4 per
cent (380,000 barrels per day) to reach 81.8 mbd. Oil
VXSSO\LVFRQFHQWUDWHGLQ:HVWHUQ$VLDFHUWDLQWUDQVLWLRQ
HFRQRPLHV 1RUWK $PHULFD DQG $IULFD ,Q production in OECD countries fell by 4.0 per cent, with
a share of 22.5 per cent of global oil production. OPEC
countries increased production by 2.7 per cent, raising
their share in global oil production from 43.8 per cent
LQWRSHUFHQWLQVHH¿J
)RUWKH¿UVWWLPHVLQFHZRUOGRLOGHPDQGGHFOLQHG
by 0.6 per cent to reach 84.4 mbd, the largest fall since
/HGE\DGURSRISHUFHQWLQWKH8QLWHG6WDWHV
consumption in OECD countries fell by 3.2 per cent to
47.3 mbd, a third consecutive year of decline. Outside
16
Figure 5
Oil and natural gas: major producers and consumers, 2008
(percentages)
World oil consumption, 2008
World oil supply, 2008
Africa 3%
Other 33%
Middle East 8%
Midlle East 8%
Europe and
Eurasia 24%
North America
27%
Asia Pacific
30%
World natural gas production, 2008
Africa 7%
Asia-Pacific
North America
13%
27%
OECD 23%
World natural gas consumption, 2008
Asia-Pacific
16%
Africa 3%
North
America 28%
Middle East
11%
Middle East
12%
Europe and
Eurasia 35%
OPEC 45%
South & Central
America 5%
South and
Central
America 5%
Europe and Eurasia 38%
Source 81&7$'VHFUHWDULDWRQWKHEDVLVRIGDWDSXEOLVKHGE\%ULWLVK3HWUROHXPLQWKHBP Statistical Review of World
Energy 2009.
the OECD, consumption increased by 3.1 per cent, a
slower pace than in 2007. The strong growth among
oil-exporting countries was partly offset by a slower
JURZWKDPRQJ$VLD3DFL¿FFRQVXPHUV
$JDLQVW D EDFNGURS RI D GHHSHU DQG ZLGHU JOREDO
HFRQRPLFGRZQWXUQDQG¿QDQFLDOFULVLVWKH,($SURMHFWV
a further decline (3.0 per cent) in global oil demand in
2009, as well as a drop in supply (0.3 per cent). Reduced
SURGXFWLRQLVGXHWR23(&¶VSURGXFWLRQFXWVLQWURGXFHG
in response to falling oil prices and in anticipation of a
decline in global demand.
OPEC members
$OWKRXJK 23(& EHJDQ FXWWLQJ SURGXFWLRQ ODWH LQ WKH
year, average annual production rose by 2.7 per cent
LQ:HVWHUQ$VLD23(&DFFRXQWHGIRUWKHHQWLUH
LQFUHDVHZLWK6DXGL$UDELDQSURGXFWLRQULVLQJE\SHU
cent to 10.8 mbd, and Iraqi output growing by 13.0 per
cent to 2.4 mbd.
,Q6DXGL$UDELDUHPDLQHGWKHQXPEHURQHZRUOG
producer with a share of 13.1 per cent of total world
SURGXFWLRQ,WDFFRXQWHGIRUSHUFHQWRI23(&¶V
total production. Other major producers within the group
included the Islamic Republic of Iran (11.8 per cent of
23(&¶VWRWDOSURGXFWLRQDQGWKH8QLWHG$UDE(PLUDWHV
(8.1 per cent). The share of OPEC members outside
:HVWHUQ$VLDDQG$IULFD(FXDGRUDQGWKH%ROLYDULDQ
Republic of Venezuela) stood at 8.4 per cent, while
$IULFDQPHPEHUV¶VKDUHRI23(&¶VWRWDOSURGXFWLRQIHOO
from 22.2 per cent in 2007 to 21.5 per cent in 2008.
OECD members
,Q 1RUWK$PHULFD UHPDLQHG WKH PDLQ FUXGH
oil producer among OECD members, with a share
RI SHU FHQW RI WKH JURXS¶V WRWDO VXSSO\ 7KH
8QLWHG6WDWHV±ZKLFKDFFRXQWHGIRUPRUHWKDQRQHWKLUG
RI2(&'¶VRLOSURGXFWLRQ±UHGXFHGLWVRXWSXWE\SHU
FHQW3URGXFWLRQLQ(XURSHIHOOE\SHUFHQWUHÀHFWLQJ
a drop in all relevant producers, namely Denmark, Italy,
1RUZD\DQGWKH8QLWHG.LQJGRP
Other producers
In 2008, the total production of non-OPEC and nonOECD economies – including the Russian Federation,
China and Brazil – increased marginally by 0.7 per cent
over the previous year. With a total of 26.7 mbd, the
market share of these countries remained steady at 32.6 per
cent. The Russian Federation decreased production by
0.8 per cent, to 9.9 mbd. Other producers have either
LQFUHDVHGHJ&KLQD%UD]LORUGHFUHDVHGHJ$UJHQWLQD
,QGLD9LHW1DPWKHLUSURGXFWLRQOHYHOV
17
WKH ,($ HVWLPDWHG WKDW JOREDO UH¿QLQJ FDSDFLW\ QHHGV
to increase by 42 per cent to 118 mbp by 2030, and
that oil companies and Governments worldwide will
need to spend $487 billion between 2005 and 2030 to
keep pace with demand for products such as gasoline,
diesel and jet fuel.35 That being said, commentators also
argue that the large investments required to develop
QHZUH¿QHULHVPLJKWQRWEHHFRQRPLFDOO\YLDEOHJLYHQ
WKHOLPLWHGYROXPHVRIFUXGHRLOWKDWDUHOHIWWRUH¿QH
The energy sector is close to bumping up against
supply constraints, and the gradual depletion of world
crude oil and the imminent “peak oil” (i.e. world oil
production has already started to decline or will soon
VWDUWWRGHFOLQHDUHOLNHO\WRPDNHDGGLWLRQDOUH¿QHU\
expansions unnecessary.
Crude oil shipments
In 2008, the share of tanker trade in the total world
seaborne trade amounted to 33.7 per cent. World
5H¿QHU\GHYHORSPHQWV
shipments of tanker cargoes reached 2.75 billion tons,
In 2008, the total throughput of world refineries two thirds of which were crude oil. Crude oil seaborne
dropped by 0.3 per cent to 75.2 mbd. OCED countries shipments increased by an estimated 1.1 per cent, to
FRQWLQXHGWRDFFRXQWIRURYHUKDOIRIWKLVWRWDO$GHFOLQH UHDFK ELOOLRQ WRQV WDEOH 8QOLNH RWKHU EXON
in throughput was recorded in all
and container trade sectors, tanker
developed regions: throughput from
markets fared relatively better,
Crude oil seaborne shipments
UH¿QHULHVLQWKH8QLWHG6WDWHVIHOOE\ increased by an estimated
ZLWKVKLSRZQHUV¶HDUQLQJVKROGLQJ
3.4 per cent, while that of Canada,
up. The phasing out of single-hull
1.1 per cent.
(XURSH$XVWUDODVLD DQG -DSDQ IHOO
tankers in 2010 and the conversion
by 2.1 per cent, 0.2 per cent, 1.4 per
during the year of some tankers into
FHQWDQGSHUFHQWUHVSHFWLYHO\$FFRUGLQJWRWKH,($ oil storage units helped moderate the incidence of an
QRQHZUH¿QHULHVKDYHEHHQEXLOWLQWKH8QLWHG6WDWHV oversupply of tonnage. However, the delivery schedule
in 29 years, and the expansion of existing facilities in IRU WKH UHPDLQGHU RI KLJKOLJKWV WKH VLJQL¿FDQW
the country has failed to keep pace with rising demand. supply and demand imbalance that will affect tanker
(XURSH¶VODVWQHZUH¿QHU\ZDVFRPSOHWHGLQ
trade, with potential implications for freight rates and
earnings.
,QFRQWUDVWUH¿QHULHVLQGHYHORSLQJHFRQRPLHVUHFRUGHG
VRPH JURZWK IRU H[DPSOH$IULFD SHU FHQW WKH ,Q :HVWHUQ$VLD UHPDLQHG RQH RI WKH PDMRU
0LGGOH (DVW SHU FHQW DQG &KLQD SHU FHQW crude oil loading areas, with 758.9 million tons. Other
,QFUHDVHGUH¿QHU\FDSDFLW\LVH[SHFWHGWRFRPHRQOLQH loading areas included, 6RXWK$PHULFD¶VQRUWKHUQDQG
LQGHYHORSLQJ$VLDDVLOOXVWUDWHGE\WKHFRPPLVVLRQLQJ HDVWHUQVHDERDUGVPLOOLRQWRQV&HQWUDO$IULFD
RI D QHZ H[SRUWRULHQWHG UH¿QHU\ LQ -DPQDJDU ,QGLD (131.5 million tons), 1RUWKHUQ$IULFD PLOOLRQ
which holds a capacity of 0.6 mbd and is expected WRQV :HVWHUQ$IULFD PLOOLRQ WRQV DQG WKH
WR VXSSO\ GLHVHO WR (XURSH 1HZ UH¿QLQJ FDSDFLW\ LQ &DULEEHDQ DQG &HQWUDO$PHULFD PLOOLRQ tons).
WKH 0LGGOH (DVW DQG$VLD LV DOVR H[SHFWHG LQ 0DMRUXQORDGLQJDUHDVLQFOXGHG(XURSHPLOOLRQ
although several of the projects have been held up due WRQV ORDGHG 1RUWK $PHULFD PLOOLRQ WRQV
to the deterioration of the economic situation. Current DQG -DSDQ PLOOLRQ WRQV 0DMRU XQORDGLQJ
tight economic conditions and lack of credit, combined GHYHORSLQJ UHJLRQV LQFOXGHG 6RXWKHUQ DQG (DVWHUQ
ZLWKWKHFDSLWDOLQWHQVLYHQDWXUHRIUH¿QHU\H[SDQVLRQ $VLD PLOOLRQ WRQV DQG 6RXWK(DVWHUQ $VLD
plans, suggest that the required investments may be (133.0 million tons). With demand for oil expected to
further deferred and may create a lag in supply when remain robust in developing regions, namely in China,
the economy recovers and demand rebounds. In 2005, ,QGLDDQGWKH0LGGOH(DVWLWLVKRSHGWKDWVRPHH[FHVV
18
capacity resulting from the economic downturn would
be absorbed by this new additional demand.
Shipments of petroleum products
The natural gas sector also went through two distinct
phases: a tight supply and demand balance with rising
energy prices, followed by a weakening demand and a
plummeting of spot prices. The combination of weak
demand and lower prices could undermine future
investments.
In 2008, world shipments of petroleum products are
estimated to have increased by 2.7 per cent, to reach
915.3 million tons. Developed regions accounted for /LTXH¿HGQDWXUDOJDVVKLSPHQWV
41.0 per cent of world petroleum products loaded, and
56.1 per cent of world petroleum products unloaded. ,Q WKH OLTXHILHG QDWXUDO JDV /1* WUDGH
Developing economies accounted for 55.3 per cent UHPDLQHGVWHDG\ZLWKWKHWRWDOYROXPHRI/1*VKLSSHG
of world products loaded and 43.4 per cent of world DPRXQWLQJ WR EFP /1* LPSRUWHUV LQFOXGHG D
products unloaded. Economies in
mix of developed and developing
transition accounted for the balance.
economies, namely France, India,
In 2008, world shipments
$OWKRXJK GHPDQG IRU SHWUROHXP
-DSDQ WKH 5HSXEOLF RI .RUHD
of petroleum products are
SURGXFWV LV DOVR LQÀXHQFHG E\ WKH estimated to have increased
6SDLQ DQG WKH 8QLWHG 6WDWHV 7KH
wider international environment,
PDLQ/1*H[SRUWHUVZHUHORFDWHG
by 2.7 per cent ...
including the performance of the
in developing regions, with Qatar
world economy, such demand
being the largest (17.5 per cent).
remains particularly subject to unforeseen events, 2WKHUH[SRUWHUVLQFOXGHG$OJHULD,QGRQHVLD0DOD\VLD
including natural disasters and weather-related DQG1LJHULD
incidents.
2YHU WKH \HDUV /1* WUDGH KDV EHHQ FRQVWUDLQHG E\
$QDEUXSWHFRQRPLFGRZQWXUQVKLSFDSDFLW\RYHUVXSSO\ GLI¿FXOWLHV LQ VRXUFLQJ VXI¿FLHQW JDV VXSSOLHV ZLWK D
high stock levels brought about by lower oil prices (the number of liquefaction projects suffering from delays
8QLWHG 6WDWHV DQG &KLQD KDYH EHHQ UHSRUWHG WR KDYH LQ WKH DSSURYDO DQG EXLOGLQJ SURFHVV$V PRVW VKLSV
XVHG WKH RSSRUWXQLW\ WR ¿OO WKHLU VWUDWHJLF SHWUROHXP DUH RUGHUHG WR VHUYH VSHFL¿F /1* SURMHFWV D VXUSOXV
UHVHUYHVDOOFRPELQHGZLWKDJOREDOOLPLWHGUH¿QHU\ RI/1*FDSDFLW\LVFUHDWHGZKHQWKHFRPSOHWLRQRIWKH
capacity provide a good indication of the challenges that projects is delayed and the relevant cargo is not available
lie ahead for petroleum products trade.
for carriage. However, the world is now experiencing a
major reversal of the situation: a boom in supply is being
met with falling demand.
Natural gas production and consumption
In 2008, world production of natural gas increased by
3.8 per cent over the previous year, to reach 3,065.6 billion
cubic metres (bcm). The Russian Federation remained
WKH ZRUOG¶V ODUJHVW SURGXFHU ZLWK D PDUNHW VKDUH RI
SHU FHQW IROORZHG E\ WKH 8QLWHG 6WDWHV ZLWK D
share of 19.3 per cent. Other producers included Canada
(5.7 per cent), the Islamic Republic of Iran (3.8 per cent),
1RUZD\ SHU FHQW$OJHULD SHU FHQW &KLQD
SHU FHQW ,QGRQHVLD SHU FHQW DQG 0DOD\VLD
SHUFHQWVHH¿J
During the same year, world natural gas consumption
increased by 2.5 per cent, to reach 3,018.7 bcm. The
8QLWHG 6WDWHV DQG WKH 5XVVLDQ )HGHUDWLRQ UHPDLQHG
the main natural gas consumers, with market shares of
22.0 per cent and 13.9 per cent respectively. Other major
consumers included the Islamic Republic of Iran (3.9 per
FHQW &DQDGD SHU FHQW WKH 8QLWHG .LQJGRP
SHUFHQWDQG-DSDQSHUFHQW
2Q WKH VXSSO\ VLGH DW OHDVW VHYHQ QHZ /1* H[SRUW
WHUPLQDOV DUH H[SHFWHG WR VWDUW LQ $W OHDVW million tons per year of new liquefaction capacity are
GXH RQ VWUHDP LQ 1RUWK$PHULFD RYHU WKH QH[W WKUHH
\HDUV6DNKDOLQ,,ZDVUHSRUWHGWRKDYHORDGHGLWV¿UVW
VKLSLQ0DUFKZKLOHWKHFRPSOHWLRQRIWZRWUDLQV
DWWKH4DWDUJDVSURMHFWLVLPPLQHQW7KH0LGGOH(DVW
/1*H[SDQVLRQLVLQIXOOÀRZZLWKWKH<HPHQ/1*
project coming on stream in 2009. It is estimated that
once all the projects that were delayed in 2008 come
RQVWUHDPVRPHPLOOLRQWRQVSHU\HDURIQHZ/1*
capacity will be online and will boost existing capacity
E\SHUFHQW2QWKHGHPDQGVLGHWKH/1*WUDGHLQ
2008 had also suffered from the economic downturn and
a suppressed demand, especially for electricity usage.
$QRWKHUVLGHHIIHFWRIWKHHFRQRPLFGRZQWXUQZDVWKH
impact on gas prices. For example, it was reported that
LQ6HSWHPEHU$VLDQXWLOLWLHVZHUHZLOOLQJWRSD\
XSWRSHUPLOOLRQ%ULWLVKWKHUPDOXQLWVIRUVSRW/1*
FDUJRHV%\0DUFK/1*SULFHVKDGFROODSVHGE\
75 per cent.36
2.
Dry cargo shipments37
General developments
Dry bulk trade, the mainstay of the boom experienced
by the shipping industry over the past few years,
slowed down in 2008 (with a 4.7 per cent growth rate
as compared to 5.7 per cent in 2007) and is forecast to
fall by more than 4.4 per cent in 2009. The total volume
of dry bulk cargoes loaded in 2008 stood at 5.4 billion
tons. These shipments accounted for 66.3 per cent of total
world goods loaded. Trade in the major dry bulks (iron
ore, coal, grains, bauxite/alumina and rock phosphate)
was estimated at 2.1 billion tons. The difference was
made up of minor bulks and liner cargoes, which together
were estimated at 3.3 billion tons. Figures 6 (a) and (b)
present an overview of the major players involved in
the production, consumption and trade of some major
dry bulks.
The collapse that started in the fourth quarter of 2008
has been more readily visible in the dry bulk sector. The
Baltic Dry Index fell sharply, and average earnings for
bulk carriers in October 2008 were 80 per cent lower
WKDQ WKHLU OHYHOV LQ$SULO RI WKH VDPH \HDU7KH PDLQ
driver of the slowdown in 2008 and the projected slump
of 2009 relate to steel production cuts in all-major steel
SURGXFLQJUHJLRQV6WHHOSURGXFWLRQLVDNH\LQGLFDWRU
for the bulk shipping market as it determines the demand
for raw materials such as iron ore and coal and the
need for larger bulkers (e.g. capesize ships). In 2008,
&KLQD¶VVWHHOSURGXFWLRQVORZHGGRZQDVWKHUHDOHVWDWH
sector in China reached a plateau, and as developers
ZHUH KDYLQJ GLI¿FXOWLHV LQ REWDLQLQJ ¿QDQFH IRU QHZ
SURMHFWV$QLPSRUWDQWIDFWRUWKDWKHOSHGWKHGU\EXON
sector show some resilience in the face of falling demand
DQGWLJKWWUDGH¿QDQFHUHODWHVWRWKHVXSSO\VLGHRIWKH
bulk carrier market. In 2008, deliveries of bulk carriers
were modest compared to tankers and container ships.
8OWLPDWHO\WKHVKLSFDSDFLW\RUGHUHGPLJKWEHUHGXFHG
by way of cancellations or conversions into other ship
types, although empirical evidence has shown that there
KDYH EHHQ YHU\ IHZ VXFK FRQYHUVLRQV UHSRUWHG 0RVW
negotiations with the yards have focused on delaying the
delivery of vessels so as to limit the impact the supply
side will have in 2009–2011 (see chapter 2 for more
details). With projected fall in dry bulk volumes and
growth in bulker tonnage capacity, the short- to mediumterm outlook for the dry bulk sector looks challenging.
19
World crude steel production and consumption
In 2008, world steel production declined by 1.2 per cent,
VWDQGLQJDWELOOLRQWRQV6WHHOSURGXFWLRQGHFOLQHGLQ
nearly all major steel-producing economies, including
WKH (XURSHDQ 8QLRQ SHU FHQW 1RUWK$PHULFD
SHUFHQW-DSDQSHUFHQWWKH&,6SHU
FHQW DQG 6RXWK$PHULFD$VLD FRQWLQXHG WR DFFRXQW
IRUPRUHWKDQKDOIRIWKHZRUOG¶VWRWDOSURGXFWLRQZLWK
China producing more than 500 million tons in one
year – a 2.6 per cent increase over 2007. The Republic
of Korea and India expanded their production too, at
SHUFHQWDQGSHUFHQWUHVSHFWLYHO\$UFHORU0LWWDO
– accounting for 10 per cent of world steel output, the
ZRUOG¶VOHDGLQJVWHHOSURGXFHUE\YROXPH±DQQRXQFHG
SODQVWRUHGXFHSURGXFWLRQLQ1RUWK$PHULFDE\SHU
cent and in Europe by 30 per cent. The company made
temporary production cuts totalling up to 45 per cent
of global production capacity in order to accelerate
inventory reduction, and it has also paused growth
plans for the immediate future.38 6WHHO SURGXFWLRQ
DQGUHYHQXHVLQWKH8QLWHG6WDWHVDUHH[SHFWHGWRIDOO
LQ ZKLOH &KLQD¶V VWHHOPDNHUV DUH H[SHFWHG WR
collectively decrease active production by 20 per cent
in 2009.39
Production of ferrous scrap, which averages 300 million
tons per year globally, is also affected by the economic
downturn.408QWLOPLGJOREDOVWHHOSURGXFWLRQDQG
prices were at historic highs, after which demand and
prices for steel products began to decline, followed by
DGHFOLQLQJGHPDQGIRUVFUDS$VWKHJOREDOHFRQRP\
UHWUDFWHG EX\HUV RI VFUDS VWHHO LQ$VLD DQG (XURSH
began cancelling orders, which may lead to a scrap steel
oversupply of more than 5 million tons in ports, ships
DQG\DUGV3UR¿WPDUJLQVKDYHGURSSHGLQWKHVFUDSVWHHO
industry from $200 to $20 per ton.
World steel consumption fell by 0.3 per cent in 2008,
bringing the total to 1.2 billion tons. China continued
WRGULYH$VLD¶VVWHHOFRQVXPSWLRQZKLFKLQFUHDVHGE\
SHUFHQWGXULQJWKH\HDU7KH$VLDQUHJLRQUHPDLQHG
WKHZRUOG¶VODUJHVWFRQVXPHUZLWKDVKDUHRISHU
FHQW&RQVXPSWLRQLQFUHDVHGLQ&HQWUDO6RXWK$PHULFD
DQGLQ$IULFDZKLFKVDZWKHLUFRQVXPSWLRQH[SDQGE\
8.3 per cent and 3.5 per cent respectively.
Reflecting the global economic context and the
geographical spread of the financial and economic
downturn to developing regions, world steel consumption
is expected to fall by 14.9 per cent in 2009. The economic
GRZQWXUQ DQG GLI¿FXOWLHV DVVRFLDWHG ZLWK WKH FUHGLW
20
Figure 6 (a)
Major bulks (steel and iron ore): producers, consumers and traders in 2008
(world market share in percentages)
Source 81&7$' VHFUHWDULDW RQ WKH EDVLV RI GDWD VXSSOLHG E\ &ODUNVRQ 5HVHDUFK 6HUYLFHV LQ Shipping Review and
OutlookVSULQJDQGDry Bulk Trade Outlook0D\DQGE\WKH,QWHUQDWLRQDO,URQDQG6WHHO,QVWLWXWH
-XQH
DQG ¿QDQFLDO VHFWRUV KDYH DOUHDG\ DGYHUVHO\ DIIHFWHG
customers of the steel used in construction, industrial
equipment and vehicles. Reduced consumption of steel
has led to a rapid decline in steel prices, prompting
VWHHOPDNHUVLQ$VLD(XURSHDQG1RUWK$PHULFDWRFXW
output and delay mill-expansion plans. The largest drop
LQFRQVXPSWLRQOHYHOVLVH[SHFWHGWRDIIHFWWKH1$)7$
UHJLRQIROORZHGE\WKH(XURSHDQ8QLRQWKH&,6&HQWUDO
6RXWK$PHULFDDQGWKH0LGGOH(DVW&RQVXPSWLRQLQ
$VLDLVH[SHFWHGWRGHFOLQHE\SHUFHQW
In 2008, the world steel industry furthered its
commitments to advancing sustainability by taking
measures aimed at reducing the carbon footprint of the
LQGXVWU\ ,Q -XQH WKH :RUOG 6WHHO 2UJDQL]DWLRQ
ODXQFKHGLWV&OLPDWH$FWLRQ5HFRJQLWLRQ3URJUDPPHDQG
a new dedicated website – the climate change microsite.
$ NH\ REMHFWLYH RI WKH &OLPDWH$FWLRQ 5HFRJQLWLRQ
Programme is to measure the current level of emissions
from the production of steel worldwide, to enable
individual steel plants to position themselves against
21
Figure 6 (b)
Major bulks (coal and grain): producers, consumers and traders in 2008
(world market share in percentages)
Source 81&7$'VHFUHWDULDWRQWKHEDVLVRIGDWDVXSSOLHGE\&ODUNVRQ5HVHDUFK6HUYLFHVLQShipping Review and Outlook,
VSULQJDQGDry Bulk Trade Outlook0D\E\WKH(FRQRPLVW,QWHOOLJHQFH8QLWLQWorld Commodity
Forecasts: Food, Feedstuffs And Beverages0D\DQGE\WKH,QWHUQDWLRQDO*UDLQV&RXQFLO$SULO
both average and best performance, and to identify scope
for improvement.41
Iron ore shipments
Iron ore is a widely used metal in areas such as
structural engineering, and for industrial applications,
and also in the automotive sector. The major iron ore
SURGXFHUV LQFOXGH &KLQD$XVWUDOLD %UD]LO ,QGLD WKH
5XVVLDQ )HGHUDWLRQ WKH 8QLWHG 6WDWHV 6RXWK$IULFD
&DQDGDDQG6ZHGHQ7KHZRUOG¶VODUJHVWSURGXFHUVRI
iron ore are Vale in Brazil, BHP Billiton, and Rio Tinto
$XVWUDOLD8QLWHG.LQJGRP,QODWH%+3%LOOLWRQ
abandoned its plans for a $66 billion takeover of Rio
Tinto, arguing that the steep drop in commodity prices
FRPELQHGZLWKWKHXQIDYRXUDEOH¿QDQFLDOHQYLURQPHQW
made the takeover no longer feasible.42,QVWHDGLQ-XQH
2009, Rio Tinto and BHP Billiton signed a non-binding
agreement to establish a production joint venture
FRYHULQJERWKFRPSDQLHV¶:HVWHUQ$XVWUDOLDQLURQRUH
22
assets. The joint venture will encompass all current and
IXWXUH:HVWHUQ$XVWUDOLDQLURQRUHDVVHWVDQGOLDELOLWLHV
DQGZLOOEHRZQHG¿IW\¿IW\E\ERWKFRPSDQLHV43
7KH ZRUOG¶V LURQ RUH VKLSPHQWV ZHUH HVWLPDWHG DW
844 million tons in 2008, an increase of 6.5 per cent over
2007. While many exporters increased their volumes in
RWKHUV±LQFOXGLQJ&DQDGD6ZHGHQ0DXULWDQLD
DQG3HUX±UHFRUGHGDIDOO7RJHWKHU$XVWUDOLDDQG%UD]LO
accounted for over two thirds of world iron ore exports.
$XVWUDOLD UHJDLQHG LWV SRVLWLRQ DV WKH ZRUOG¶V ODUJHVW
iron ore exporter, increasing its volumes by 16.0 per
cent to reach 309.5 million tons. Exports from Brazil
amounted to 281.7 million tons, an increase of 4.6 per
cent over 2007. The balance of world iron ore exports
RULJLQDWHG LQ ,QGLD PLOOLRQ WRQV 6RXWK$IULFD
PLOOLRQWRQV&DQDGDPLOOLRQWRQV6ZHGHQ
PLOOLRQWRQV0DXULWDQLDPLOOLRQWRQVDQG
Peru (6.9 million tons).
With 444.1 million tons unloaded in Chinese ports in
2008, China remained the main destination for world
iron ore shipments. Its imports grew at a slightly slower
rate than in 2007 (16.0 per cent). Other major importers
LQFOXGHG-DSDQZLWKPLOOLRQWRQVDSHUFHQW
increase), and Western Europe with 127.5 million tons
DSHUFHQWGHFUHDVH6PDOOHULPSRUWHUVLQ$VLDVXFK
as the Republic of Korea, recorded increases of 3.3 per
cent, while others, such as Taiwan Province of China,
and Pakistan, recorded a decline in their imports. Iron ore
imports into India and the Philippines remained steady
DWWKHLUOHYHOV$WWKHUHJLRQDOOHYHOLPSRUWVLQWR
1RUWK$PHULFDGURSSHGE\SHUFHQWZKLOHLPSRUWV
LQWR6RXWK$PHULFDDQGWKH0LGGOH(DVWLQFUHDVHGE\
7KH UHFRUG WUDGH JURZWK LQ WKH ¿UVW KDOI RI DQG
the collapse experienced in the second half make 2008
a year of two parts: a prosperous part and a poor part.
Before the end of 2008, major iron miners saw iron
RUHSULFHVIDOODVJOREDOVWHHORXWSXWGHFOLQHG/HDGLQJ
iron producers and exporters, including in Brazil, have
already cut or are planning to cut production.44/RRNLQJ
DKHDG&ODUNVRQ5HVHDUFK6HUYLFHVH[SHFWVJOREDOLURQ
ore trade volumes to remain steady in 2009 and to grow
rapidly (16 per cent) in 2010, driven mainly by expected
growth in China.45
Coal production and consumption
Coal is a fossil fuel energy source which is much more
DEXQGDQWWKDQRLORUJDVWKHUHDUHDURXQG\HDUVRI
coal remaining worldwide. Different types of coal have
GLIIHUHQW XVHV 6WHDP FRDO ± DOVR NQRZQ DV WKHUPDO
coal – is mainly used in power generation. Coking
coal – also known as metallurgical coal – is mainly
used in steel production. Other important users of coal
LQFOXGH DOXPLQD UH¿QHULHV SDSHU PDQXIDFWXUHUV DQG
WKH FKHPLFDO DQG SKDUPDFHXWLFDO LQGXVWULHV 6HYHUDO
chemical products can be made from the by-products
RIFRDO5H¿QHGFRDOWDULVXVHGLQWKHPDQXIDFWXUHRI
chemicals such as creosote oil, naphthalene, phenol and
benzene.
In 2008, world coal production increased by 5.3 per cent,
reaching 3,324.9 million tons oil equivalent (mtoe), with
much of global coal production being used in the country
LQZKLFKLWZDVSURGXFHG&KLQDUHPDLQHGWKHZRUOG¶V
largest producer, with a share of 42.5 per cent, followed
E\WKH8QLWHG6WDWHVSHUFHQW$XVWUDOLDSHU
FHQW6RXWK$IULFDSHUFHQWWKH5XVVLDQ)HGHUDWLRQ
(4.6 per cent), India (5.8 per cent) and Indonesia (4.2 per
cent).
In 2008, global coal consumption slowed, rising by just
SHU FHQW 1HYHUWKHOHVV FRDO UHPDLQHG WKH IDVWHVW
growing fuel in the world for the sixth consecutive year.
&KLQD±WKHZRUOG¶VODUJHVWFRQVXPHUZLWKDSHU
cent share) – increased its consumption by 6.8 per cent.
While below the 10-year average, this growth rate was
VXI¿FLHQWWRDFFRXQWIRUSHUFHQWRIJOREDOJURZWK
Consumption growth outside China was negligible
(0.6 per cent) with growth rates below the 10-year
DYHUDJH IRU DOO UHJLRQV H[FHSW 6RXWK&HQWUDO$PHULFD
DQG$IULFDZKLFKLQFUHDVHGWKHLUFRDOFRQVXPSWLRQE\
Coal mining raises a number of environmental
challenges, including soil erosion, dust, noise pollution,
water pollution, and impacts on local biodiversity.
However, the most important challenge facing the coal
industry and the international community is how to
reconcile the growing use of coal with climate change
DFWLRQ$FFRUGLQJWRWKH:RUOG&RDO,QVWLWXWHWKHFRDO
industry is committed to minimizing its greenhouse
gas emissions and action is being taken in a number of
DUHDV7KH,($PDLQWDLQVWKDWUHSODFLQJROGHUFRDO¿UHG
SRZHUVWDWLRQVZLWKODUJHUPRUHHI¿FLHQWSODQWVFRXOG
reduce global greenhouse gas emissions by 5.5 per
cent. Carbon capture and storage technology is being
considered as a potential solution that could offer deep
FXWVLQJUHHQKRXVHJDVHPLVVLRQVIURPFRDO¿UHGSRZHU
while maintaining the energy infrastructure needed for
growth.46
World coal shipments
In 2008, coal shipments were estimated to have reached
814.5 million tons, a volume increase of 3.2 per cent over
5HÀHFWLQJ WKH DGYHUVH HIIHFWV RI WKH HFRQRPLF
GLI¿FXOWLHVWKDWHUXSWHGLQWKHIRXUWKTXDUWHURIWKLV
rate is half the growth rate recorded in 2007. Thermal
coal exports were estimated at 590.1 million tons,
representing 72.4 per cent of world coal shipments,
while coking coal shipments increased by 4.1 per cent
to reach 224.4 million tons.
7RJHWKHU ,QGRQHVLD DQG$XVWUDOLD DFFRXQWHG IRU RYHU
KDOI WKH ZRUOG¶V WKHUPDO FRDO VKLSPHQWV ,QGRQHVLD
FRQWLQXHGWRRYHUWDNH$XVWUDOLDDVWKHODUJHVWWKHUPDO
coal exporter. In 2008, Indonesia increased its thermal
coal exports by 6.1 per cent to reach 200 million tons.
/HVVWURXEOHGE\WKHORJLVWLFDOSUREOHPVLWH[SHULHQFHGLQ
$XVWUDOLDLQFUHDVHGLWVFRDOH[SRUWVE\SHUFHQW
Other major thermal coal exporters in 2008 included
6RXWK$IULFDPLOOLRQWRQV&RORPELDPLOOLRQ
tons), China (35.8 million tons), the Russian Federation
(60.4 million tons) and the Bolivarian Republic of
Venezuela (6.2 million tons).
,Q$XVWUDOLDUHPDLQHGWKHZRUOG¶VODUJHVWFRNLQJ
coal exporter, with a total of 136.9 million tons, a
fall of 0.5 per cent over 2007. Other lesser exporters,
such as Canada, have also recorded a decline in their
H[SRUWYROXPHV0DUNHGJURZWKZDVDFKLHYHGE\WKH
8QLWHG 6WDWHV ZLWK DQ LQFUHDVH RI SHU FHQW7KH
main destinations of both types of coal exports (thermal
DQGFRNLQJDUH-DSDQDQGWKH(XURSHDQ8QLRQZKLFK
WRJHWKHUDFFRXQWHGIRUSHUFHQWRIWKHZRUOG¶VFRDO
imports in 2008. In 2008, thermal coal imports into China
fell by 11.0 per cent, while imports into the Republic of
Korea increased by 18.2 per cent.
Coal shipments are forecast to decline by 2.3 per cent in
2009. The coking coal trade is forecast to drop by 6.4 per
cent in 2009. Thermal coal shipments are also likely
to be negatively affected, as industrial production cuts
have the effect of impacting on electricity consumption.
Reduced demand for coal and the expected growth in
ship carrying capacity are likely to negatively affect
IUHLJKWUDWHVDQGSUR¿WDELOLW\
Grain market
$FFRUGLQJ WR WKH ,QWHUQDWLRQDO *UDLQV &RXQFLO
production of grain (wheat and coarse grain) increased
from 1,588 million tons in 2007 to 1,697 million tons
23
in 2008. World wheat production increased by 6.5 per
cent, as farmers increased planted areas in response to
IDYRXUDEOH SULFHV$ ODUJH RXWSXW ZDV UHFRUGHG LQ DOO
PDMRUH[SRUWLQJDUHDVHVSHFLDOO\LQ$XVWUDOLDSHU
FHQW WKH 5XVVLDQ )HGHUDWLRQ SHU FHQW WKH
(XURSHDQ8QLRQSHUFHQWDQGWKH8QLWHG6WDWHV
SHUFHQW
In 2008, world grain shipments are estimated to have
grown by 5.6 per cent, reaching 323.3 million tons.
Wheat totalled about 110 million tons, while coarse
grains such as corn, barley, soybeans, sorghum, oats, rye
and millet totalled 213.3 million tons. In 2008, Canada
DQG WKH 8QLWHG 6WDWHV DFFRXQWHG IRU SHU FHQW RI
world grain exports (excluding soybean). Export growth
LQ1RUWK$PHULFDZDVGULYHQE\LQFUHDVHGH[SRUWVRI
ERWK ZKHDW DQG FRDUVH JUDLQV IURP WKH 8QLWHV 6WDWHV
$UJHQWLQD PDLQWDLQHG LWV SHU FHQW VKDUH ZKLOH
$XVWUDOLDDQGWKH(XURSHDQ8QLRQUHFRUGHGGHFOLQHVLQ
their export volumes.
$VLD UHPDLQHG WKH PDLQ XQORDGLQJ DUHD IRU JUDLQ
(excluding soybean) with 67.5 million tons, followed
E\/DWLQ$PHULFDPLOOLRQWRQV$IULFDPLOOLRQ
WRQV WKH 0LGGOH (DVW PLOOLRQ WRQV (XURSH
PLOOLRQWRQVDQGWKH&,6PLOOLRQWRQV-DSDQ
by far the largest importer (with a 9.8 per cent share in
2008), reduced its grain imports by 5.3 per cent. Overall,
LPSRUWVLQWR$VLDIHOOE\SHUFHQW,PSRUWVLQFUHDVHG
E\SHUFHQWLQWKH0LGGOH(DVWSHUFHQWLQ$IULFD
SHUFHQWLQ/DWLQ$PHULFDDQGPRUHWKDQGRXEOHG
in Europe.
Trade in grain is expected to decline in both 2009
SHU FHQW DQG SHU FHQW$UJHQWLQD
&DQDGD DQG WKH 8QLWHG 6WDWHV DUH H[SHFWHG WR UHFRUG
a decline in coarse grain exports. Improved weather
conditions in some grain importing countries mean that
shortages in those regions will no longer need to be met
by imports.
,QDGGLWLRQWRWKHXQIROGLQJRIWKHJOREDO¿QDQFLDODQG
economic crises, 2008 witnessed the eruption of a global
food crisis which resulted in high and dramatically
increasing prices of food, shortages and declining food
VWRFNV$FFRUGLQJWRWKH'LUHFWRU*HQHUDORIWKH)RRG
DQG$JULFXOWXUH 2UJDQL]DWLRQ RI WKH 8QLWHG 1DWLRQV
)$2 JOREDOO\ WKHUH DUH QRZ ELOOLRQ SHRSOH
hungry, up 11.0 per cent from 915 million in 2008. To
put things in context: one in six people in the world. In
addition to the direct effect on incomes and employment,
WKH JOREDO ¿QDQFLDO FULVLV UHGXFHG WKH DOUHDG\ VFDUFH
24
FDSLWDODYDLODEOHIRULQYHVWPHQWLQDJULFXOWXUHLQ$IULFD
ZKLFKDPSOL¿HGWKHHIIHFWRIWKHIRRGFULVLV47
The food crisis highlighted the vulnerability of
GHYHORSLQJ HFRQRPLHV HVSHFLDOO\ $IULFD WR IRRG
LQVHFXULW\$JULFXOWXUDOSURGXFWLYLW\LQ$IULFDFRPSDUHV
unfavourably with other regions, and has not seen
DQ\ UHDO LPSURYHPHQW RYHU WKH SDVW GHFDGHV<LHOGV
and productivity per worker have both remained low,
whereas in other regions they have increased.48 Of
the 36 countries worldwide currently facing a food
VHFXULW\FULVLVDUH$IULFDQDQGLWLVHVWLPDWHGWKDW
WKHUHDUHQRZRYHUPLOOLRQ$IULFDQVIDFLQJFKURQLF
KXQJHU ± QHDUO\ D WKLUG RI WKH FRQWLQHQW¶V SRSXODWLRQ
It is estimated that doubling the productivity of food
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SHRSOH RXW RI SRYHUW\ DQG WXUQ$IULFD IURP D UHJLRQ
ZLWK D IRRG GH¿FLW LQWR D UHJLRQ ZLWK D IRRG VXUSOXV
with food prices that were 20–40 per cent lower.49
The World Bank estimates that demand for food will
have risen by 50 per cent in 2030, as a result of rising
DIÀXHQFHDQGWKHJURZLQJZRUOGSRSXODWLRQ0HHWLQJ
growing food demand will require major investment
in the agricultural sectors of developing economies,
SDUWLFXODUO\LQ$IULFD7KLVHQWDLOVVRPHLPSOLFDWLRQVIRU
the demand for maritime transport services, ship tonnage
capacity, and port handling equipment, and potentially a
change in the geography of trade. Pending the requisite
investments and productivity gains in the agricultural
VHFWRUV$IULFD FRXOG UHYHUVH LWV GHSHQGHQF\ RQ IRRG
imports and emerge as a world exporter of grains and
other agricultural-based food products.
WKH0HGLWHUUDQHDQ$IULFDDQG$VLD(XURSHUHPDLQVWKH
largest alumina importer, followed by other developed
UHJLRQVQDPHO\1RUWK$PHULFDDQG-DSDQ
The largest sedimentary deposits of phosphate rock are
IRXQGLQ1RUWK$IULFD&KLQDWKH0LGGOH(DVWDQGWKH
8QLWHG6WDWHV,QZRUOGWUDGHRIURFNSKRVSKDWH
WRWDOOHGPLOOLRQWRQV0RURFFRUHPDLQHGWKHPDMRU
H[SRUWHU DQG WKH 8QLWHG 6WDWHV WKH PDMRU LPSRUWHU
0RURFFR¶VH[SRUWVDFFRXQWHGIRUQHDUO\KDOIRIZRUOG
shipments, the bulk of which was exported to Europe
DQGWKH$PHULFDV6KLSPHQWVE\OHVVHUH[SRUWHUVLQRWKHU
$IULFDQ FRXQWULHV DQG WKH 0LGGOH (DVW DFFRXQWHG IRU
40 per cent of world exports. High phosphate rock prices
have renewed the interest in exploiting the offshore
UHVRXUFHVRI0H[LFRDQG1DPLELD
The minor dry bulks (manufactures, agribulks, metals
and minerals) were estimated to have remained at
ELOOLRQWRQVLQ$JULFXOWXUDOSURGXFWVVR\PHDO
and oilseed) and metals and minerals (e.g. scrap) each
increased by a meager 1.0 per cent, while manufactures
(e.g. steel products) dropped marginally (-1.0 per cent).
Trade in steel products accounted for 60.1 per cent of
this total, and unlike forest products, fell by 1.2 per cent
FRPSDUHGWR0LQRUEXONYROXPHVDUHH[SHFWHGWR
decline by 5.0 per cent in 2009 and grow again by 4.0
per cent in 2010.50
3.
Liner shipments of containerized
cargoes51
The balance of 2.32 billion tons of dry cargoes included
cargo carried in containers along the three major east–
Other bulk shipments
ZHVWOLQHUWUDGHURXWHVWKHWUDQV3DFL¿F$VLD±(XURSH
%DX[LWHUHVRXUFHVDUHORFDWHGLQ$IULFDSHUFHQW DQG WKH WUDQV$WODQWLF ,Q WKH ZRUOG WRWDO RI
2FHDQLDSHUFHQW6RXWK$PHULFDDQGWKH&DULEEHDQ FRQWDLQHUL]HGWUDGHZDVHVWLPDWHGDWPLOOLRQ7(8V
(1.3 billion tons), an increase of
SHUFHQW$VLDSHUFHQWDQG
5.4 per cent over the previous year.52
other areas (6 per cent). In 2008,
In 2008, the world total of
Over the last two decades, global
containerized trade was
world trade of bauxite and alumina
container trade is estimated to have
estimated at 137 million TEUs
was estimated to have reached
(1.3 billion tons), an increase
grown at an average annual rate
83.5 million tons. During the same
of
5.4.
per
cent
over
the
of about 10 per cent. The share of
year, major loading areas of bauxite
previous
year.
FRQWDLQHUL]HG WUDGH LQ WKH ZRUOG¶V
LQFOXGHG $VLD SHU FHQW RI
total dry cargo increased from
PDUNHW VKDUH $IULFD SHU
5.1
per
cent
in
1980
to 25.4 per cent in 2008. The value
FHQW WKH $PHULFDV SHU FHQW DQG $XVWUDOLD
(12.2 per cent). The main importing areas are Europe of world maritime container trade grew from $2 trillion
in 2001 to $4 trillion in 2008 accounting for around
DQG1RUWK$PHULFD
one in every $14 of global economic output.53$JDLQVW
:LWKUHVSHFWWRDOXPLQD$XVWUDOLDZDVWKHPDMRUH[SRUWHU D EDFNGURS RI JURZLQJ FRQWDLQHU WUDGH DQG SUR¿WDEOH
DFFRXQWLQJIRUDERXWKDOIRIZRUOGH[SRUWVZKLOH-DPDLFD earnings, the shipping industry responded by investing
alone contributed 14.0 per cent. Other loading areas span in larger and more sophisticated container ships and
25
\HDUV EDFN 'UHZU\ 6KLSSLQJ &RQVXOWDQWV IRUHFDVW
that container trade would double by 2016 to reach
PLOOLRQ7(8V DQG PRUH WKDQ GRXEOH E\ WR
H[FHHGPLOOLRQ7(8V$OWKRXJKPXFKZLOOGHSHQG
on the duration and the extent of the current economic
GRZQWXUQDQG¿QDQFLDOFULVLVWKHDEUXSWIDOOLQFRQWDLQHU
trade volumes since 2008 and into 2009 makes the
realization of such a forecast uncertain. Despite the
positive growth expected starting 2010, the relevant
UDWH UHPDLQV VLJQL¿FDQWO\ EHORZ WKH SUHFULVLV OHYHOV
6LQFHWKHZRUVHQLQJRIWKHJOREDO¿QDQFLDOFULVLVDQG &ODUNVRQ6KLSSLQJ6HUYLFHVDUHIRUHFDVWLQJDSHUFHQW
the unfolding of a worldwide economic downturn, the drop in container trade for 2009 and a sluggish growth
in 2010 (2.2 per cent).546LPLODUO\
landscape of container trade has
'UHZU\ 6KLSSLQJ &RQVXOWDQWV LV
changed and the prospects have
... the landscape of container
forecasting a fall of 10.3 per cent
EHFRPHXQFHUWDLQ$VLOOXVWUDWHGLQ trade has changed and the
for 2009 and a marginal growth in
¿JXUH SURMHFWLRQV IRU FRQWDLQHU prospects have become
2010.55 With growing containertrade made before the unfolding
uncertain.
carrying capacity and declining
of the current global economic
crisis, appear less likely to materialize if the current DQG XQFHUWDLQ FRQWDLQHU WUDI¿F FRQWDLQHU WUDGH ZLOO
GRZQZDUG WUHQG LV PDLQWDLQHG RU GHHSHQHG$ IHZ IDFH GLI¿FXOW WLPHV DKHDG 'UHZU\ VXJJHVWV WKDW HYHQ
equipment, as well as in container port and terminal
RSHUDWLRQV$NH\IHDWXUHRIFRQWDLQHUWUDGHRYHUUHFHQW
years has been the large order book and increased
tonnage supply. Expecting a continuously booming
trade, shipowners have consistently commissioned large
WRQQDJHFDSDFLW\NHHSLQJVKLS\DUGVEXV\$QLPSRUWDQW
share of the container capacity on order is expected to
be delivered in the midst of depressed global trade and
a contracting global economy.
Figure 7
Global container trade, 1990–2020
(TEUs and percentage change)
Source:
'UHZU\6KLSSLQJ&RQVXOWDQWVContainer Market Review and Forecast 2006/2007 and 2008/2009, and Clarkson
5HVHDUFK6HUYLFHV/LPLWHG Container Intelligence Monthly, 6HSWHPEHU
Notes:
)RUHFDVWVRIFRQWDLQHUWUDGHYROXPHVIRU±ZHUHPDGHLQDQGSUHFHGHWKHJOREDO¿QDQFLDODQG
HFRQRPLFFULVLVRIODWH$QQXDOSHUFHQWDJHVFKDQJHVIRU±DUHREWDLQHGIURPContainer Intelligence
Monthly,6HSWHPEHU
26
if container market conditions were to be restored to
UHWXUQ WR EDODQFH E\ DW OHDVW PLOOLRQ 7(8 RI
capacity would need to be cancelled or deferred.56 This
entails some critical implications for investments in
container ship tonnage capacity, shipyards, container
port developments, cargo handling equipment, and
container production.
/RVVLQFRQVXPHUFRQ¿GHQFHLQWKHGHYHORSHGUHJLRQV
resulted in plummeting consumption of manufactured
goods, and consequently, in declining container trade
volumes and lower freight rates at a time when the
tonnage supply is at its peak. With over 10 per cent of
container ship capacity reported to be idle, and despite
cancellations and slippage, a collapse in demand and
FDUJR ÀRZV LV SXWWLQJ KXJH SUHVVXUH RQ WKH FRQWDLQHU
trade sector.
HQGRI$3/WKH1HZ:RUOG$OOLDQFH&26&21
0DHUVN/LQHDQGRWKHUVKDGFXWVHUYLFHVWULQJVIURPWKH
trade) and trades have being re-routed via the Cape of
Good Hope. This route was deemed more economical,
given the economic situation and the lower bunker fuel
prices.
Recent analysis suggests that a restructuring of certain
economies is taking place. China is expanding its imports
(i.e. re-stocking and domestic consumption) without
expanding its exports. During the second quarter of
2008, there were about 56 tons of Chinese imports for
every 100 tons of exports. In the equivalent quarter
in 2009, this ratio increased to 80 tons of Chinese
imports for every 100 tons of exports. This shift in the
overall balance of containerized trade is likely to have
implications for liner shipping operators serving the
Chinese market.58
$OWKRXJKJURZWKLQFRQWDLQHUWUDGHVHHPWRKDYHEHHQ
MARITIME TRANSPORT AND THE
less affected on certain routes and in certain directions, D.
CLIMATE CHANGE CHALLENGE
LQFOXGLQJ WKH 1RUWK±6RXWK DQG 6RXWK±6RXWK WUDGHV
growth in container trade has slowed considerably in
2008, with, at best, a 10 per cent increase in volumes &OLPDWH FKDQJH LV D JOREDO FKDOOHQJH DQG ³D GH¿QLQJ
59
on non-mainlane East-West routes and 3.8 per cent on issue of our era.” Compelling scientific evidence
and a better understanding of the
1RUWK6RXWKURXWHV57&DUJRÀRZVRQ
economics of climate change have
WKH WUDQV$WODQWLF URXWH UHFRUGHG D Climate change is a global
moved the issue to the forefront
positive growth (1.5 per cent), albeit
FKDOOHQJHDQGDGH¿QLQJ
of the international agenda. The
much slower than the rate recorded
issue of our era".
impacts of climate variability and
LQ &RQWDLQHU FDUJR ÀRZV RQ
climate change (see box 1) are
WKH WUDQV3DFL¿F DQG$VLD(XURSH
already being felt, in particular in the more vulnerable
routes contracted on both routes (table 6).
countries.60 8QFKHFNHG FOLPDWLF FKDQJHV PD\ UHDFK
tipping points, resulting in disastrous and irreversible
$FRPELQDWLRQRIORZHUIUHLJKWUDWHVGHSUHVVHGWUDGH consequences for humanity. In any event, time is a real
volumes and tonnage oversupply provided additional FRQFHUQ$FFRUGLQJWRWKH,($FXUUHQWWUHQGVVXJJHVW
reasons for shipowners to rethink their strategies and that if no decisive action is taken within the next two
UHFRQVLGHU WKHLU FRVW FDOFXODWLRQV$V D UHVXOW DQG LQ years – including relevant investment decisions to
an effort to cut costs, services are being cut (e.g. by the determine the type of technologies that will be locked in
Table 6
(VWLPDWHGFDUJRÀRZVRQPDMRUWUDGHURXWHV±
(millions of TEUs and percentage change)
Year
7UDQV3DFL¿F
Asia–USA
USA–Asia
2007
15 247 955
4 986 106
17 236 936
10 085 181
2 711 037
4 464 206
2008
14 527 722
5 614 366
16 740 642
10 500 068
2 938 168
4 343 506
-4.7%
12.6%
-2.9%
4.1%
8.4%
-2.7%
% change
Europe–Asia
Transatlantic
Asia–Europe Europe–Asia USA–Europe Europe–USA
Source &RQWDLQHULVDWLRQ,QWHUQDWLRQDO2QOLQHDFFHVVHGLQ6HSWHPEHU
27
Box 1
6FLHQWL¿FHYLGHQFHJOREDOZDUPLQJDQGVRPHDVVRFLDWHGHIIHFWV
The atmospheric concentration of carbon dioxide (CO2WKHPRVWVLJQL¿FDQWJUHHQKRXVHJDV*+*KDV
increased from 280 parts per million (ppm) in the pre-industrial period to 379 ppm in 2005. The increased
concentration of greenhouse gases in the atmosphere and the associated warming effect are considered to cause
climate change. Over the last century, the global average surface temperature increased by around 0.74°C.
8QGHU³EXVLQHVVDVXVXDO´VFHQDULRVWKHFOLPDWHPRGHOVRIWKH,QWHUJRYHUQPHQWDO3DQHORQ&OLPDWH&KDQJH
,3&&LQGLFDWHDIXUWKHUWHPSHUDWXUHULVHRI±&GXULQJWKHWZHQW\¿UVWFHQWXU\7RHQVXUHWKDWWKHJOREDO
average temperature increase does not exceed 2°C above pre-industrial levels – the threshold above which
dangerous climate change effects are likely to be triggered (tipping point) – the atmospheric concentration
levels of CO2 should be stabilized at 350–400 ppm, while emissions should peak by 2015 and decline thereafter.
Observations from all regions and oceans show that many natural systems are being affected. The effects
REVHUYHGLQFOXGHDGHFOLQHLQPRXQWDLQJODFLHUVDQGLQVQRZFRYHUDFKDQJHLQWKH$UFWLFLFHFRYHUDJH
and a rise in the global average sea level. The sea level rise is thought to be caused by increased volumes
of water in the ocean basins (due to melting ice) and by the thermal expansion of seawater. The average
global sea level increased by 0.17m over the last century. Relative sea level rise is particularly relevant,
DQG YDULHV DFFRUGLQJ WR ORFDO FRQGLWLRQV LQFOXGLQJ ODQG VXEVLGHQFH 0RUH IUHTXHQW H[WUHPH ZHDWKHU
conditions – such as storms, heatwaves, droughts, and an increased intensity of tropical cyclones –
DUH DOVR EHLQJ REVHUYHG 6FLHQWLVWV DUH DOVR FRQFHUQHG DERXW DEUXSW FOLPDWH FKDQJH HIIHFWV 7KHVH
so-called “surprise effects” relate, amongst other things, to the instability of the ice sheets and to the
SODQHW¶V IHHGEDFN PHFKDQLVPV VHOIUHLQIRUFLQJ ORRS7KH XQFHUWDLQW\ DERXW WKHVH HIIHFWV LV GXH WR WKH
limited information on the nature of climate–carbon cycle feedbacks. For example, reaching climatic
tipping points could lead to a potentially “abrupt” effect known as shutdown of the thermohaline ocean
circulation, or to an acceleration of global warming due to released methane from thawing permafrost.
Clear signs of urgency are already apparent, with many developing countries – especially countries in
$IULFDDQGVPDOOLVODQGGHYHORSLQJ6WDWHV6,'6±LQWKHJULSRILQFUHDVLQJWHPSHUDWXUHVVHYHUHGURXJKWV
HQFURDFKLQJVHDVGHYDVWDWLQJÀRRGVPHOWLQJLFHFKDQJLQJZHDWKHUSDWWHUQVDQGF\FORQHVZLWKLQFUHDVLQJ
GHVWUXFWLYHSRZHU7KHVHIDFWRUVFDQ±MXVWDVPXFKDVWKH¿QDQFLDODQGHFRQRPLFFULVHV±FRPSURPLVH
global security, upset human settlement and induce migration. They can also shift agricultural and industrial
production, trade, infrastructure and operations, including in coastal zones and ports, and can affect any
¿HOGUHODWHGWRVKLSSLQJURXWHVDQGQDYLJDWLRQ
Source 81&7$'EDVHGRQDQH[WHQVLYHUHYLHZRIOLWHUDWXUHLQFOXGLQJIPCC Fourth Assessment Report 2007;
IPCC Third Assessment Report 2001; IPCC Second Assessment Report 1995; IPCC Special Report;
IPCC (1997), The Regional Impacts of Climate Change: An Assessment of Vulnerability8QLWHG1DWLRQV
Development Programme, Human Development Report 2007/2008;81(3Global Environmental
Outlook – Environment for Development (GEO-4);DQGSURMHFWLRQVE\WKH8QLWHG6WDWHV1DWLRQDO6QRZ
DQG,FH'DWD&HQWUHDQG1DYDO3RVWJUDGXDWH6FKRRO0RQWHUH\&DOLIRUQLD
28
– the world will miss forever the opportunity to stabilize
emissions at “manageable” levels, along either the 450
parts per million (ppm) or the 550 ppm CO2-equivalent
scenarios.61 Economists have also warned that the costs
RILQDFWLRQVLJQL¿FDQWO\RXWZHLJKWKHFRVWVRIPLWLJDWLRQ
and that delaying action now will only make future action
more costly.62 The current global economic crisis shows
how a relatively small reduction of output, such as 1 or
2 per cent of GDP, may have considerable and disturbing
implications for businesses, employment, trade, and the
well-being of societies.
/LNHRWKHUHFRQRPLFVHFWRUVPDULWLPHWUDQVSRUWZKLFK
by volume carries over 80 per cent of global trade, has
a role to play in addressing this formidable challenge.
International maritime transport is playing a part in
contributing to climate change, but more importantly, it
is also likely to be directly and indirectly impacted itself,
by the various climate change factors such as rising sea
levels, extreme weather events and rising temperatures.63
The wide-ranging impacts of climate change, including
on maritime transport, and their potential implications for
trade, economic growth and development, underscore the
need to integrate climate considerations into strategies for
transport planning and development. Increasingly, it is
being recognized that considered and concerted action is
urgently required to ensure effective control of greenhouse
gas emissions and to establish the requisite adaptive
capacity, especially in developing countries.
Greenhouse gas emissions from international shipping are
VLJQL¿FDQW64 and are set to grow with increased demand
for maritime transport services, driven by economic and
demographic growth.65 Possible mitigation measures
are therefore being considered, at both the regulatory
DQG LQGXVWU\ OHYHOV$V PD\ EH UHFDOOHG HPLVVLRQV
from international shipping are currently not covered
XQGHU WKH 81)&&& DQG WKH .\RWR 3URWRFRO 5DWKHU
SDUWLHV WR WKH 81)&&& KDYH DVNHG WKH ,QWHUQDWLRQDO
0DULWLPH2UJDQL]DWLRQ,02WRDGGUHVVWKHTXHVWLRQ
of emissions of greenhouse gases from ships.66 In view
RI WKH RQJRLQJ 81)&&& QHJRWLDWLRQV WRZDUGV WKH
adoption of an international climate change agreement
in December 2009,67 ,02 KDV UHFHQWO\ LQWHQVL¿HG LWV
ZRUNLQWKH¿HOG68
1.
Greenhouse gas emissions from
international shipping and efforts at
mitigation
0DULWLPHWUDQVSRUWFRPSDUHVIDYRXUDEO\WRRWKHUPRGHV
RI WUDQVSRUW ERWK LQ WHUPV RI IXHO HI¿FLHQF\ DQG RI
FOLPDWHIULHQGOLQHVVVHH¿J+RZHYHUDVVKRZQLQ
table 7, CO2 emissions from international shipping are
estimated to account for between 1.6 per cent and 4.1 per
cent of world CO2 emissions from fuel combustion.
The Second IMO GHG Study 2009 – the most recent
UHOHYDQWVWXG\SUHSDUHGRQEHKDOIRI,02±HVWLPDWHG
Figure 8
Shipping sector CO2 emission and CO2HI¿FLHQFLHVE\FDUJRFDUULHUJUDPWRQNP
CO2 efficiencies by cargo carrier
(gram/tonnes/km)
Activity-based 2007 shipping CO2 emissions estimate
(million of tonnes)
Tanker
Container
Bulk
Other
General cargo
Ropax cruise
Vehicle/ro-ro
0
50
100
150
200
250
Air freight
Road
Rail
Ro-ro
Vehicle
Container
Reefer
General cargo
Bulk carrier
LNG
LPG
Chem tanker
Product
Crude tanker
0
500
1000
1500
2000
2500
Source : 81&7$'EDVHGRQ,028SGDWHG2Q*UHHQKRXVH*DV(PLVVLRQIURP6KLSV,QFOXGHVLQWHUQDWLRQDO
DQGGRPHVWLFVKLSSLQJDQGH[FOXGHV¿VKLQJDQGPLOLWDU\YHVVHOV
29
CO2 emissions from international shipping at 870
PLOOLRQWRQVLQ$FFRUGLQJWRWKHVDPHVWXG\WKHVH
emissions are projected to increase by a factor of 2.2 to
3.1 between 2007 and 2050.69
/1*WHFKQRORJ\LVRQO\DYDLODEOHIRUFHUWDLQW\SHVRI
ships with a certain number of engines. The potential
for using biofuel is limited by technology-related issues,
and also by cost.70
0DULWLPHWUDQVSRUWUHOLHVKHDYLO\RQ oil, in particular on 7KH 6HFRQG ,02 *+* 6WXG\ HVWLPDWHV WKDW D
heavy grade fuel oil for propulsion, and is not yet in a VLJQL¿FDQW SRWHQWLDO IRU UHGXFLQJ *+* HPLVVLRQV LV
SRVLWLRQWRDGRSWHQHUJ\VXEVWLWXWHV$OWKRXJKUHQHZDEOH available through technical71 and operational measures
energy in the form of wind and solar power can be used ZKLFK LQ FRPELQDWLRQ FRXOG LQFUHDVH HI¿FLHQF\ DQG
on board ship as additional power, the total share of reduce the emissions rate by 25 per cent to 75 per cent
energy that can be covered in this way is limited by the FRPSDUHG WR FXUUHQW OHYHOV 0DQ\ RI WKHVH PHDVXUHV
availability and variable intensity of
are likely to be cost-effective,
wind and solar energy, as well as by
with obstacles to implementation
DVLJQL¿FDQWSRWHQWLDOIRU
WKHFXUUHQWWHFKQRORJ\:KLOH/1*
OLNHO\ WR EH XQUHODWHG WR ¿QDQFLDO
reducing GHG emissions is
considerations. For example, in
gas may be used as an alternative
available through technical
fuel in shipping, there remains the
the case of renewable energy,
and operational measures ...
FKDOOHQJHRI¿QGLQJVXI¿FLHQWVSDFH
limitations posed by the availability
and variable intensity of wind
for the onboard storage of the fuel,
and also concerns over increases in the emission of and solar energy could prove challenging for the
methane – another greenhouse gas. Furthermore, current implementation.72 Technical measures affecting ship
Table 7
Estimates of fuel consumption, CO2 emissions from international shipping, and projected growth
Base
year
Second IMO GHG Study 2009
2007
CO2:
Fuel:
Percentage Projected emissions growth
millions millions of world fuel
of tonnes of tonnes combustion a
870
277
3.1
By a factor of 1.1-1.2
by 2020 & 2.2-3.1 by 2050 c
IMO/Group of Experts (2007)
2007
1120
369
4.1
+30% by 2020
IMO GHG Study (2000)
1996
419.3
138
1.6
--
IEA (2005)
2005
543
214
2.0
--
TRT Trasporti e Territorio
2006
1003
NA
3.7
--
Endressen et al., 2007 b
2002
634
200
2.3
+ 100–200% by 2050
Eide et al., 2007 b
2004
704
220
2.6
+ 100–200% by 2050
Eide et al., 2007 b
2006
800
350
2.9
+ 100–200% by 2050
Corbett et al., 2003 b
2001
912
289
3.1
--
a
%DVHGRQ,($GDWDIRUZRUOG&22 emissions from fuel combustion.
b
2EWDLQHGIURPVHFRQGDU\VRXUFHVLQFOXGLQJWKH6HFRQG,02*+*6WXG\
c
Base values, and according to six main scenarios under the IPCC Special Report on Emission
Scenarios $)$%$7$%DQG%
30
design (mainly new buildings) and operational measures
(all ships) each have the potential to reduce CO2 emissions
by 10 to 50 per cent.73 Technology and operational fuelsaving and GHG emission reduction strategies can be
grouped into strategies affecting vessel design, engine
design, propulsion systems, other technology-related
strategies, and operational measures (box 2).
Recognizing the importance for the maritime transport
sector of contributing to global efforts at reducing
HPLVVLRQVRIJUHHQKRXVHJDVHV,02¶V0DULQH(QYLURQPHQW
3URWHFWLRQ &RPPLWWHH 0(3&LV FRQVLGHULQJ D QXPEHU
of mitigation measures aimed at reducing emissions
of greenhouse gases from international shipping.74 In
addition to the technical and operational measures with
CO2 reduction potential, a number of supporting policy
measures are also being considered to ensure an effective
reduction of CO2 emissions. Relevant policies currently
XQGHUFRQVLGHUDWLRQDWWKH0DULQH(QYLURQPHQW3URWHFWLRQ
Committee include:
(a) policies aimed at reducing maritime emissions
irrespective of the ship design, operation or energy source
(e.g. market-based instruments such as emissions trading,
Box 2
3RWHQWLDOHI¿FLHQF\JDLQVRIVHOHFWHGWHFKQRORJ\DQGRSHUDWLRQDOPHDVXUHV
Strategy
3RWHQWLDOHI¿FLHQF\JDLQV
(I¿FLHQF\RIVFDOH
<4 per cent
Design for reduced ballast operation
<7 per cent
/LJKWZHLJKWFRQVWUXFWLRQ
<7 per cent
Optimum hull dimensions
<9 per cent
$LUOXEUL¿FDWLRQ
<15 per cent
Bulbous bow
<20 per cent
Diesel electric drives
5-30 per cent
Waste heat recovery
<10 per cent
Counter-rotating propellers
<12 per cent
3URSHOOHUHI¿FLHQF\PRQLWRULQJ
<5 per cent
(I¿FLHQWSURSHOOHUVSHHGPRGXODWLRQ
<5 per cent
Wind power: Flettner rotor
<30 per cent
Wind power: kites and sails
<20 per cent
6RODUSRZHU
<4 per cent
$XWRPDWLRQ
<10 per cent
Fuel additives
<2 per cent
Port turnaround time
<10 per cent
Propeller surface maintenance
<10 per cent
Hull coating
<5 per cent
6KLSVSHHGUHGXFWLRQ
<23 per cent
Voyage planning and weather routing
<10 per cent
Overall energy awareness
<10 per cent
Source: 81&7$'EDVHGRQ3KLOLSSH&ULVW³*UHHQKRXVHJDVHPLVVLRQVUHGXFWLRQSRWHQWLDOIURPLQWHUQDWLRQDOVKLSSLQJ´
GLVFXVVLRQSDSHUQR,QWHUQDWLRQDO7UDQVSRUW)RUXP0D\
an emissions levy or an international compensation
IXQG
(b) policies aimed at improving the operational fuel
HI¿FLHQF\ RI WKH ÀHHW HJ PDUNHWEDVHG LQVWUXPHQWV
VXFK DV WKH (QHUJ\ (I¿FLHQF\ 2SHUDWLRQDO ,QGLFDWRU
((2,OHY\WKH(QHUJ\(I¿FLHQF\'HVLJQ,QGH[((',
OHY\EHQH¿WVFKHPHFRPPDQGDQGFRQWUROLQVWUXPHQWV
such as the mandatory the EEOI limit, mandatory
((2, UHSRUWLQJ DQG WKH PDQGDWRU\ 6KLS (I¿FLHQF\
0DQDJHPHQW 3ODQ 6(03 DQG YROXQWDU\ PHDVXUHV
such as voluntary agreements to improve EEOI and to
LPSOHPHQW6(03
F SROLFLHV DLPHG DW LPSURYLQJ WKH GHVLJQ HI¿FLHQF\
RIWKHÀHHWHJPDUNHWEDVHGLQVWUXPHQWVVXFKDVWKH
((',OHY\WKH((',OHY\EHQH¿WVFKHPHFRPPDQG
and-control instruments such as the mandatory EEDI
OLPLW IRU QHZ VKLSV DQG YROXQWDU\ PHDVXUHV VXFK D
voluntary agreement to improve EEDI and voluntary
VWDQGDUGVDQG
(d) policies aimed at reducing fuel life-cycle carbon
emissions, such as policies that favour the use of natural
gas or biofuels (e.g. market-based instruments such
as a differentiated levy, and command-and-control
instruments such as a fuel life-cycle carbon emissions
standard and a biofuel standard).
31
note that maritime transport systems are also likely to
be directly and indirectly impacted by various climate
change factors such as rising sea levels, extreme weather
events and rising temperatures. The type, range and
magnitude of impacts will vary according to local
conditions, transportation systems, designs and policies,
and also according to the capacity to adapt and to
minimize the costs.78 Direct impacts may affect maritime
transport infrastructure, operations and maintenance,
DQGDOVRVKLSSLQJSDWWHUQVZKLOHLQGLUHFWHIIHFWVFRXOG
result from changes in demand for maritime transport
services.79 These may be induced by climatic changes
affecting trade, investment decisions, demographics,
agricultural production, forests, energy exploration,
HQHUJ\GHPDQGRU¿VKLQJDFWLYLW\
$JDLQVWWKHEDFNJURXQGRIDJOREDOL]HGZRUOGHFRQRP\
and growing interdependence between countries,
climatic impacts on transport systems – in particular
ports and other transport infrastructure in the coastal
zone – entail serious implications for all countries:
developed and developing, coastal and landlocked.
Given the critical role of maritime transport in enabling
JOREDOWUDGHDQGJURZWKZHOOIXQFWLRQLQJDQGHI¿FLHQW
ports and shipping services are crucial for global trade,
international production processes and deeply integrated
economies.80
$OWKRXJKDWWHQWLRQKDVPDLQO\EHHQSDLGVRIDUWRWKH
While market-based instruments are likely to be cost- question of mitigation, a better understanding of the
effective policy instruments with high environmental effects of climate change, and any relevant implications
effectiveness,75 there remains the need to improve IRUPDULWLPHWUDQVSRUWDQGIRUDFFHVVWRFRVWHI¿FLHQW
understanding of the respective merits of different and sustainable international transport services
options and to assess the potential
is important, so that appropriate
implications of the proposed
adaptation measures may be taken
... there remains the need to
mitigation measures for global
to ensure that countries will be able
improve understanding of the
trade and market distortions,
to cope. This is particularly relevant
respective merits of different
especially regarding the trade
for costal states, especially the most
options and to assess the
and development of developing
vulnerable countries such as small
potential implications of
countries.76 There also remains the
LVODQGGHYHORSLQJ6WDWHV6,'6DQG
the proposed mitigation
question of how best to reconcile
WKHOHDVWGHYHORSHGFRXQWULHV/'&V
measures for global trade and
the principle of common but
which are both highly exposed and least
market distortions ...
differentiated responsibilities
able to adapt, but also for landlocked
XQGHU WKH 81)&&& DQG WKH
GHYHORSLQJFRXQWULHV//'&VZKRVH
principle of uniform application/obligations under the ability to access global markets ultimately depends on
,0277
DFFHVVWRHI¿FLHQWPDULWLPHWUDQVSRUWVHUYLFHV
2.
Adaptation requirements and funding
While international maritime transport contributes to
global greenhouse gas emissions, it is important to
$GDSWDWLRQWRWKHHIIHFWVRIFOLPDWHFKDQJHLVQRWD³RQH
VL]H¿WVDOO´SURFHVV7KHLPSDFWVRIFOLPDWHFKDQJHZLOO
vary from country to country, as will the institutions and
legal and political tools available to decision-makers.
$GDSWDWLRQDFWLRQVQHHGWREHWDLORUHGWRWKHFLUFXPVWDQFHV
32
and abilities of different countries and regions. In this for transportation systems, and in particular for ports –
respect, available funding is a key consideration, and key nodes in the supply chain and vital for global trade.
LQ WKH FRQWH[W RI DGDSWDWLRQ ¿QDQFLQJ UHTXLUHPHQWV Increased focus on responding to the challenge was
as they pertain to maritime transportation networks important for the long-term prospects of the maritime
must be better understood.81 Identifying adaptation transport sector, and more generally for global trade.
Planning for the already predicted
needs and the requisite funding
impacts should be pursued without
is not a straightforward exercise.
Increased focus on
GHOD\$PRQJRWKHUWKLQJVH[SHUWV
8QFHUWDLQW\VWLOOUHPDLQVZLWKUHJDUG responding to the challenge
called for increased scientific
to the costs of climate adaptation
was important for the
research, and well-targeted and
for maritime transport, including in
long-term prospects of the
appropriate vulnerability studies –
developing countries, and also with
maritime transport sector and,
more
generally,
global
trade.
especially for ports and transport
regard to the way funding should be
infrastructure in coastal zones in
generated and delivered. The issues
developing countries – to help
highlighted here were discussed
in more detail at a recent intergovernmental expert assess potential climate-change impacts and develop
PHHWLQJ FRQYHQHG E\ 81&7$' HQWLWOHG ³0DULWLPH DSSURSULDWH DGDSWDWLRQ UHVSRQVHV 6FLHQWLVWV DQG
Transport and the Climate Change Challenge”.82 Experts engineers, industry, international organizations and
emphasized the urgent need to reach agreement in the policymakers were called upon to increase their
ongoing negotiations towards a regulatory regime for cooperation, in order to ensure that up-to-date relevant
greenhouse gas emissions from international shipping. information on climate-change impacts and adaptation
$W WKH VDPH WLPH H[SHUWV QRWHG ZLWK JUHDW FRQFHUQ measures was available, widely disseminated, and taken
WKDWVRIDULQVXI¿FLHQWDWWHQWLRQKDGEHHQSDLGWRWKH into account by policymakers, transportation planners
potential impacts and implications of climate change and development strategists.
ENDNOTES
1
For a more comprehensive overview of world economic development, see the Trade and Development Report
2009, available at http://www.unctad.org/Templates/WebFlyer.asp?intItemID=4579&lang=1.
,QWHUQDWLRQDO0RQHWDU\)XQG,0)World Economic Outlook Update. Global economic slump challenges policies.
-DQXDU\
3
&ODUNVRQ5HVHDUFK6HUYLFHVDry Bulk Trade Outlook6HSWHPEHU
4
ibid.
2
5
7KH*UHIHUVWRWKH*URXSRI7ZHQW\)LQDQFH0LQLVWHUVDQG&HQWUDO%DQN*RYHUQRUV,QWKHPHPEHUV
RIWKH*URXSLQFOXGHGQLQHGHYHORSLQJHFRQRPLHVHJ$UJHQWLQD%UD]LO&KLQDDQG,QGLDDQGRQHHFRQRP\LQ
transition (the Russian Federation). Together, the G-20 economies account for around 90 per cent of global GDP,
SHUFHQWRIZRUOGWUDGHLQFOXGLQJ(XURSHDQ8QLRQLQWUDWUDGHDQGWZRWKLUGVRIWKHZRUOG¶VSRSXODWLRQ
6
81'(6$0RQWKO\EULH¿QJRQWKHZRUOGHFRQRPLFVLWXDWLRQDQGSURVSHFWV$SULO
7
Based, in particular, on information published by the World Trade Organization (WTO) in “World trade 2008,
SURVSHFWVIRU´3UHVVUHOHDVH0DUFK$YDLODEOHDWKWWSZZZZWRRUJHQJOLVKQHZVBHSUHVBHSUBH
pdf.
8
$FFRUGLQJWRUHVHDUFKE\WKH:RUOG%DQNWKHHODVWLFLW\RIJOREDOWUDGHYROXPHVWRUHDOZRUOG*'3KDVLQFUHDVHG
gradually from around 2 in the 1960s to above 3 in 2008, as a consequence of production-sharing networks and lean
UHWDLOLQJ$VDUHVXOWWUDGHGURSVIDVWHUZKHQ*'3IDOOVDQGJURZVIDVWHUZKHQUHFHVVLRQVHQGDQG*'3JURZWK
picks up again.
9
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therefore, on the effect of the stimulus money allocated to infrastructure investments and on the strength of domestic
demand in China.
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regulation for a global industry – conclusions from modal workshop 4 at the 2009 International Transport Forum
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Osler D. The long way around. Lloyd’s List1RYHPEHU
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2008.
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ReportYDULRXVLVVXHV%ULWLVK3HWUROHXP¶VBP Statistical Review of World Energy 2009, available at http://www.
ESFRP Fearnleys Review 2008Shipping Review and OutlookIURP&ODUNVRQ5HVHDUFK6HUYLFHV/LPLWHGVSULQJ
DynaLinersIURP'\QDPDUYDULRXVLVVXHVDQGYDULRXVSUHVVDUWLFOHVIURPFairplay at http://www.fairplay.
co.uk and from Lloyd’s List at http://www.lloydslist.com/ll/home/index.htm.
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Based on the reference scenario whereby current laws and policies throughout the projection period remain
unchanged.
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the international economy and to forge a new global economic development model based on reducing environmental
29
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skills, and reducing the carbon dependency and resource use of all economies, while improving conditions for
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2009 Update.
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,($World Energy Outlook 2009.
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articles from Fairplay and Lloyd’s List.
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worldsteel.org.
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45
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For additional information, see: Coal and the environment, at http://www.worldcoal.org/coal-the-environment.
World Coal Institute.
47
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September 2009.
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Containerisation International. Tradelane cargo analysis6HSWHPEHU
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Future emissions of CO2 from international shipping were estimated in accordance with the scenarios
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to indirect impacts such as changed incentives for fragmentation of production. It could also result in
increased demand for ships with lower CO2 emissions. This entails a number of implications for research
and development in terms of the relevant shipbuilding technology, and also for shipyard services – the
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seeking to upgrade infrastructure, equipment and operations to satisfy the new international security requirements
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by ports hinder the effective integration of these countries into the global transport and trading networks.
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(2008), Negotiations on Additional Investment and Financial Flows to Address Climate Change in Developing
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82
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the secretariat, the report of the meeting, and presentations by experts, see: http://www.unctad.org/ttl/legal.
Chapter 2
STRUCTURE, OWNERSHIP AND REGISTRATION
OF THE WORLD FLEET
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A.
STRUCTURE OF THE WORLD FLEET
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Trends in vessel types
During the 12 months up to 1 January 2009, the
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bulk carriers has exceeded the tonnage on oil tankers.
Together, the two types of ships represent 71.2 per cent
of the world total tonnage, a slight decrease from the
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ships increased by only 3.2 per cent in 2008, resulting in
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by 17.3 million deadweight tons (dwt), or 11.9 per cent,
and now represents 13.6 per cent of the total world
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recorded high growth rates: in 2008, the tonnage of
37
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1.19 billion dwt, a year-on-year growth rate of 6.7 per
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of the decade, the tonnage on general cargo ships has
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to expand substantially in 2008: by the beginning of
2009 there were 4,638 ships, with a total capacity of
12.14 million TEUs – an increase of 8.5 per cent in the
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capacity per ship growing from 2,516 TEUs in January
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418
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Compiled by the UNCTAD secretariat, on the basis of data supplied by Lloyd’s Register – Fairplay.
a
&DUJRFDUU\LQJYHVVHOVRIJURVVWRQVDQGDERYH
7KHWUHQGWRZDUGVPRUHJHDUOHVVYHVVHOVFRQWLQXHG
in 2008. Almost 80 per cent of ships and almost
90 per cent of the TEU capacity of 2008-built fully
cellular container ships are gearless (table 10), whereas
up to 10 years ago, almost half of newly built ships
ZHUH VWLOO JHDUHG ¿J :KHQ WKH ¿UVW VSHFLDOL]HG
,QWKHODUJHVWQHZFRQWDLQHU
FRQWDLQHU VKLSV HQWHUHG VHUYLFH LQ
VKLS WKDW HQWHUHG VHUYLFH ZDV WKH
the 1960s and 1970s, they were
Almost 80 per cent of ships
3DQDPDÀDJJHGMSC Daniela, with
initially all gearless, that is to say,
and almost 90 per cent of TEU
13,800 TEU, owned and operated
they depended on the ports’ cranes
capacity of 2008-built fully
E\WKH6ZLVVEDVHG0HGLWHUUDQHDQ cellular containerships are
to load and unload the containers.
6KLSSLQJ &RPSDQ\ 7KH VPDOOHVW gearless
During the 1980s and 1990s, ships
IXOO\FHOOXODUYHVVHOVEXLOWLQ
were increasingly often equipped
were three 604-TEU ships owned
with their own cranes – a trend that
E\ WKH 6LQJDSRUHEDVHG FRPSDQ\ 3,/ 'XULQJ WKH has subsided in the current decade as more and more ports
¿UVW PRQWKV RI WKH ODUJHVW QHZ FRQWDLQHU KDYHEHHQPRGHUQL]HGDQGKDYHLQYHVWHGLQVSHFLDOL]HG
VKLSV ZHUH WZR YHVVHOV RI 7(8 RZQHG DQG FRQWDLQHUJDQWU\FUDQHV6PDOOHURU¿QDQFLDOO\ZHDNHU
RSHUDWHGE\WKH0HGLWHUUDQHDQ6KLSSLQJ&RPSDQ\ SRUWV±HVSHFLDOO\LQGHYHORSLQJFRXQWULHV±WKDWKDYH
On 31 October 2009, there were 218 new 2009-built QRWEHHQDEOHWRLQYHVWLQVSHFLDOL]HGFRQWDLQHUFUDQHV
fully cellular container ships with a combined capacity are confronted today with a situation whereby they can
RI7(8LQVHUYLFHZLWKDQDYHUDJHVL]HRI RQO\ DFFRPPRGDWH DQ HYHUGLPLQLVKLQJ SURSRUWLRQ RI
4,125 TEU.1
WKHJOREDOFRQWDLQHUVKLSÀHHW
2008 to 2,618 TEUs in January 2009 (see table 9).
7KH DYHUDJH FDUU\LQJ FDSDFLW\ RI QHZ FHOOXODU
FRQWDLQHU VKLSV WKDW HQWHUHG VHUYLFH LQ ZDV
7(8DIXUWKHULQFUHDVHIURPWKHSUHYLRXV\HDU¶V
3,291 TEU.
39
2 - Structure, Ownership and Registration of the World Fleet
Table 8
:RUOGÀHHWVL]HE\SULQFLSDOW\SHVRIYHVVHO±a
EHJLQQLQJRI\HDU¿JXUHVWKRXVDQGVRIGZW
3ULQFLSDOW\SHV
407 881
418 266
2.5
36.5
391 127
35.0
105 492
9.4
144 655
12.9
68 624
6.1
30 013
2.7
8 236
0.7
20 687
1.9
5 948
0.5
3 740
0.3
1 117 779
100.0
35.1
418 356
35.1
108 881
9.1
161 919
13.6
84 895
7.1
36 341
3.0
8 141
0.7
22 567
1.9
6 083
0.5
11 762
1.0
1 192 317
100.0
-1.4
7.0
0.1
3.2
-0.3
11.9
0.6
23.7
1.0
21.1
0.4
-1.2
-0.1
9.1
0.0
2.3
0.0
214.5
0.7
6.7
2LOWDQNHUV
%XONFDUULHUV
*HQHUDOFDUJRVKLSV
&RQWDLQHUVKLSV
2WKHUW\SHVRIVKLSV
/LTXH¿HGJDVFDUULHUV
&KHPLFDOWDQNHUV
2IIVKRUHVXSSO\
)HUULHVDQGSDVVHQJHUVKLSV
2WKHUQD
World total
3HUFHQWDJHFKDQJH
6RXUFH:
9HVVHOVRIJURVVWRQVDQGDERYH3HUFHQWDJHVKDUHVDUHVKRZQLQLWDOLFV
a
Table 9
/RQJWHUPWUHQGVLQWKHFHOOXODUFRQWDLQHUVKLSÀHHWa
World total
1XPEHURIYHVVHOV
7(8FDSDFLW\
$YHUDJHYHVVHOVL]H
*URZWK
1 052
1 215 215
1 155
1 954
3 089 682
1 581
3 904
9 436 377
2 417
4 276
10 760 173
2 516
4 638
12 142 444
2 618
8.47
12.85
4.04
6RXUFH:
9HVVHOV RI JURVV WRQV DQG DERYH %HJLQQLQJRI\HDU ¿JXUHV H[FHSW WKRVH IURP ZKLFK DUH PLG\HDU
¿JXUHV
a
40
Table 10
*HDUHGDQGJHDUOHVVIXOO\FHOOXODUFRQWDLQHUVKLSVEXLOWLQDQG
*HDUOHVV
Geared
6KLSV
3HUFHQWDJHRIVKLSV
TEU
3HUFHQWRI7(8
$YHUDJHYHVVHOVL]H
6RXUFH:
&KDQJH %
93
88 -5.4
23.3
20.3
136 956 154 708 13.0
10.4
10.2
1 473 1 758 19.4
Total
&KDQJH
%
306
346 13.1
76.7
79.7
1 176 011 1 359 454 15.6
89.6
89.8
3 843
3 929 2.2
&KDQJH
%
399
434 8.8
100.0
100.0
1 312 967 1 514 162 15.3
100.0
100.0
3 291
3 489 6.0
&RPSLOHGE\WKH81&7$'VHFUHWDULDWRQWKHEDVLVRIGDWDRQWKHH[LVWLQJFRQWDLQHUVKLSÀHHWIURP
Containerisation International Online0D\GDWDDQG0D\GDWD
Figure 10
*HDUHGDQGJHDUOHVVIXOO\FHOOXODUFRQWDLQHUVKLSVE\DJH
500
Number of vessels in age group
450
400
350
300
250
200
150
100
50
0
1
6
Container
gearless
6RXUFH:
11
geared
16
21
26
31
36
41
46
Vessel age (years)
&RPSLOHGE\WKH81&7$'VHFUHWDULDWRQWKHEDVLVRIGDWDRQWKHH[LVWLQJFRQWDLQHUVKLSÀHHWIURP
Containerisation International Online0D\
$JHGLVWULEXWLRQRIWKHZRUOGPHUFKDQW
ÀHHW
$V VKRZQ LQ WDEOH WKH DYHUDJH DJH SHU VKLS LQ
January 2009 stood at 23.0 years, corresponding to an
DYHUDJHDJHSHUGZWRI\HDUV27KHDYHUDJHDJH
per ship tends to be higher than the age per dwt, as ship
VL]HVKDYHJURZQRYHUWLPHDQG\RXQJHUODUJHUVKLSV
WKXVFRQWULEXWHZLWKPRUHGZWWRWKHWRWDOÀHHWLQIDFW
57.2 per cent of ships and only 23.8 per cent of the
world’s tonnage is 20 years and older. Vessels registered
in the 10 major open and international registries, which
together account for 54 per cent of the world’s tonnage,
DUH\RXQJHUWKDQWKHZRUOGDYHUDJHZLWKDQDYHUDJHVKLS
DJHRIXQGHU\HDUV\HDUVSHUGZWRQO\SHU
cent of ships and 20.8 per cent of dwt of the major open
UHJLVWU\ÀHHWLV\HDUVDQGROGHUZKLOHSHUFHQW
of tonnage is younger than 10 years.
41
Table 11
$JHGLVWULEXWLRQRIWKHZRUOGPHUFKDQWÀHHWE\YHVVHOW\SHDVRI-DQXDU\
SHUFHQWDJHRIWRWDOVKLSVDQGGZW
&RXQWU\JURXSLQJ
9HVVHOW\SH
WORLD
%XONFDUULHUV
Ships
dwt
$YHUDJHYHVVHOVL]HGZW
Container ships
Ships
dwt
General cargo
Ships
dwt
Oil tankers
Ships
dwt
Other types
Ships
dwt
All ships
Ships
dwt
DEVELOPING ECONOMIES
%XONFDUULHUV
Ships
dwt
Container ships
Ships
dwt
General cargo
Ships
dwt
Oil tankers
Ships
dwt
Other types
Ships
dwt
All ships
Ships
dwt
DEVELOPED ECONOMIES
%XONFDUULHUV
Ships
dwt
Container ships
Ships
dwt
General cargo
Ships
dwt
Oil tankers
Ships
dwt
Other types
Ships
dwt
All ships
Ships
dwt
±
\HDUV
±
\HDUV
±
\HDUV
±
\HDUV
\HDUV
and +
$YHUDJH
DJH\HDUV
16.7
22.9
74 114
31.5
39.8
44 162
9.3
13.7
7 281
22.1
29.9
55 467
8.2
24.9
4 645
11.6
26.9
27 735
14.9
18.7
67 761
19.5
23.5
42 065
7.8
9.9
6 299
14.8
28.3
78 246
9.3
15.4
2 540
10.4
21.7
24 817
15.8
17.5
59 763
21.7
17.1
27 492
9.6
12.9
6 635
11.1
15.7
58 072
9.1
9.6
1 616
10.5
15.8
17 992
10.1
12.1
64 459
11.0
8.6
27 169
11.0
9.4
4 219
12.2
13.6
45 673
9.5
9.6
1 554
10.2
11.7
13 709
42.5
28.8
36 584
16.4
11.1
23 608
62.3
54.1
4 295
39.7
12.6
12 999
63.9
40.5
973
57.2
23.8
4 983
18.1
23.7
74 424
31.4
41.7
44 235
9.9
14.1
7 437
20.4
29.7
60 081
10.4
22.8
4 098
13.3
27.1
29 033
14.1
16.8
67 470
17.6
21.3
40 356
7.7
7.9
5 392
11.4
23.1
83 522
8.6
13.3
2 895
9.7
18.4
27 059
15.9
17.1
61 317
21.8
16.6
25 449
7.8
12.0
8 050
10.8
14.4
55 234
8.5
8.7
1 905
10.0
15.2
21 586
9.3
12.7
78 171
11.6
8.8
25 316
8.7
8.6
5 201
10.9
16.7
63 078
8.9
9.3
1 959
9.2
12.9
19 925
42.6
29.6
39 543
17.6
11.5
21 843
65.9
57.4
4 555
46.5
16.1
14 280
63.7
45.9
1 347
57.7
26.5
6 566
16.90
14.32
8.5
16.8
84 057
30.2
36.4
53 456
11.4
19.4
6 576
24.2
31.1
48 644
6.8
20.9
2 960
9.5
27.1
19 817
16.4
28.7
74 583
27.3
30.6
49 750
11.9
18.9
6 135
22.9
39.5
65 355
11.8
22.2
1 798
13.3
32.0
16 648
16.7
19.8
50 318
22.5
18.3
36 082
19.3
19.7
3 943
13.7
16.7
45 954
11.2
14.7
1 254
13.0
17.7
9 409
15.9
10.0
26 671
9.2
7.2
34 868
20.2
12.8
2 467
19.2
8.1
15 905
10.0
11.2
1 072
12.2
9.0
5 095
42.5
24.7
24 639
10.8
7.6
31 133
37.2
29.2
3 044
20.0
4.6
8 689
60.3
31.0
491
52.1
14.2
1 881
19.51
14.33
17.22
14.27
10.92
9.01
24.44
22.12
17.55
10.72
25.26
18.24
23.00
13.97
11.20
8.98
24.72
22.55
18.84
11.74
24.77
19.53
22.55
14.56
9.79
8.47
20.81
17.34
14.21
8.43
25.08
16.59
23.03
11.56
42
Table 11 continued
±
\HDUV
&RXQWU\JURXSLQJ
9HVVHOW\SH
COUNTRIES WITH ECONOMIES IN TRANSITON
%XONFDUULHUV
Ships
dwt
DYHUDJHYHVVHOVL]HGZW
Container ships
14.2
36.5
15.62
6.2
15.5
22.8
11.74
Ships
42 599
7.1
7.8
3948
5.1
2045
5.7
4.9
3 088
25 545
10.3
7.3
2 556
14 673
68.0
24.22
75.0
26.87
3 976
11.4
8.1
5.0
8.4
67.1
23.81
30.4
22.2
7.3
13.4
26.6
13.75
33 606
34 731
18 355
20 198
4 987
Ships
4.8
4.0
4.0
13.1
74.1
25.41
dwt
27.8
22.2
6.9
12.2
30.9
15.51
19 063
18 410
5746
3 085
1 382
Ships
7.1
6.7
5.6
11.5
69.1
24.30
dwt
19.1
12.9
8.4
13.3
46.3
20.18
19 340
26.7
76 584
13 946
10 926
8 439
4 857
16.7
16.8
8.2
36.4
15.13
18.9
17.4
10.5
26.5
13.13
70 903
64 896
80 523
45 620
Ships
33.9
19.3
21.0
11.0
14.7
10.33
dwt
41.0
22.4
15.8
9.0
11.8
8.97
42 088
40 370
26 127
28 378
27 877
Ships
13.4
9.2
13.0
11.3
53.3
20.46
dwt
16.0
11.3
15.4
8.5
48.8
19.15
10 862
11 224
10 741
6 886
8 307
Ships
34.2
21.7
13.3
10.0
20.8
11.34
dwt
29.7
29.9
16.9
13.7
9.8
9.71
64 682
102759
94 804
10 1865
35 070
Ships
16.8
10.7
10.4
8.0
54.1
21.87
dwt
31.8
14.5
8.4
7.2
38.1
16.72
19 945
14 150
8 439
9 503
7 389
Ships
22.3
14.7
14.5
9.7
38.9
16.63
dwt
29.3
22.5
16.3
11.1
20.8
12.34
6RXUFH:
a
9.0
7 189
dwt
All ships
49 265
Ships
dwt
Other types
20.98
29 859
20.4
7(10$-2523(1$1',17(51$7,21$/5(*,675,(6
%XONFDUULHUV
21.9
Ships
Oil tankers
22.56
52.6
21.9
General cargo
63.2
17.0
10.4
Container ships
13.6
44 806
$YHUDJH
DJH\HDUV
18.5
All ships
9.6
12.4
46 134
\HDUV
and +
33.6
dwt
Other types
50 127
±
\HDUV
dwt
Oil tankers
46 796
4.3
6.0
±
\HDUV
Ships
General cargo
9.3
12.1
±
\HDUV
47 055
54 950
40 492
41 107
19 200
Compiled by the UNCTAD secretariat on the basis of data supplied by Lloyd’s Register – Fairplay.
9HVVHOVRIJURVVWRQVDQGDERYH
%\ YHVVHO W\SH WKH DYHUDJH DJH RI WDQNHUV VWDQGV DW \RXQJHVWÀHHWFRQWLQXHVWREHWKDWRIFRQWDLQHUVKLSVZLWK
\HDUVSHUGZWDQGWKHDYHUDJHDJHRIEXON DQDYHUDJHDJHSHUVKLSRI\HDUV\HDUVDYHUDJH
carriers at 17.2 (14.3 per dwt).
SHUGZWSHUFHQWRIWRQQDJH
*HQHUDOFDUJRYHVVHOVDUHWKHROGHVW
on container ships is younger than
...
39.8
per
cent
of
tonnage
YHVVHOW\SHZLWKDQDYHUDJHDJHRI
¿YH\HDUVDQGRQO\SHUFHQWLV
on containerships is younger
24.4 years (22.1 per dwt) and 54.1 per
20 years and older. Among country
WKDQ¿YH\HDUV«
cent of tonnage 20 years and older.
groups, the container ship fleet
Only 23.6 per cent of general cargo
UHJLVWHUHG LQ GHYHORSLQJ FRXQWULHV
WRQQDJH LV \RXQJHU WKDQ \HDUV UHÀHFWLQJ WKH WUHQG LV WKH \RXQJHVW IROORZHG E\ GHYHORSHG FRXQWULHV DQG
WKDW JHQHUDO FDUJR LV LQFUHDVLQJO\ FRQWDLQHUL]HG 7he countries with economies in transition.
43
7KHLPSUHVVLYHJURZWKRIWKHZRUOGÀHHWRYHUWKHODVW refrigerated tonnage has almost come to a standstill since
WZRGHFDGHVLVLOOXVWUDWHGE\WKHDJHSUR¿OHRIWRGD\¶V 2001, as more and more container ships also cater for
UHHIHUFDUJRWKHUHHIHUFDSDFLW\RI
ÀHHW ¿J 7RGD\ WKHUH LV ¿YH
WLPHVPRUHWRQQDJHLQVHUYLFHWKDW
container ships is forecast to increase
The tonnage of container
by a further 40 per cent until 2012.
was built in 2008 (i.e. one year
ships, and also on chemical
ROG DV LOOXVWUDWHG LQ ¿J WKDQ DQGOLTXH¿HGJDVWDQNHUV
Dry bulk carriers and oil tankers
KDYHVHHQDUHODWLYHO\VWHDG\JURZWK
WRQQDJHEXLOW\HDUVHDUOLHU0RVW KDVVXUJHGRYHUWKHODVW
RIWKHJURZWKRIWKHZRUOGÀHHWLV WKUHHWR¿YH\HDUVZKLOH
ZKLOHGHOLYHULHVRIJHQHUDOFDUJRDQG
URURWRQQDJHKDVEHHQPRUHYRODWLOH
in open and international registries,
QHZGHOLYHULHVRIVSHFLDOL]HG
7KHVKDUHRIIRUHLJQÀDJJHGWRQQDJH
i.e. the share of the nationally
refrigerated tonnage has
is lowest for general cargo and ro-ro
ÀDJJHG WRQQDJH LV KLJKHU DPRQJ DOPRVWFRPHWRDVWDQGVWLOO«
YHVVHOVDQGKLJKHVWIRUOLTXH¿HGJDV
older ships than among those built
PRUHUHFHQWO\7KHDJHSUR¿OHDOVR
carriers and refrigerated cargo.
LOOXVWUDWHVWKHSHDNVRIWRQQDJHGHOLYHUHGLQ
1992, 1996 and 2008. An interesting and more detailed 7KHDJHSUR¿OHRIGLIIHUHQWÀDJVRIUHJLVWUDWLRQYDULHV
SLFWXUHRIWKHÀHHW¶VDJHSUR¿OHLVREWDLQHGZKHQORRNLQJ ZLGHO\WRR¿J6RPHRIWKHPDMRURSHQUHJLVWULHV
DW GLIIHUHQW YHVVHO W\SHV IODJV RI UHJLVWUDWLRQ DQG KDYHUHODWLYHO\\RXQJÀHHWVWKH\LQFOXGH$QWLJXDDQG
%DUEXGDDYHUDJHDJHSHUGZW\HDUVWKH%DKDPDV
FRXQWULHVRIRZQHUVKLS¿JXUHVDQG
%HUPXGD WKH &D\PDQ ,VODQGV 7KHGHOLYHU\RIQHZWRQQDJHRQGLIIHUHQWYHVVHOW\SHV /LEHULDWKH0DUVKDOO,VODQGV3DQDPD
KDVYDULHGPDUNHGO\RYHUWKHODVW¿YHGHFDGHV¿J DQGWKH3KLOLSSLQHV2WKHURSHQUHJLVWULHVVSHFLDOL]H
The tonnage of container ships, and also on chemical LQIDUROGHUÀHHWVWKH\LQFOXGH&DPERGLDDYHUDJHDJH
DQG OLTXHILHG JDV WDQNHUV KDV VXUJHG RYHU WKH ODVW SHUGZW\HDUV'RPLQLFD0RQJROLD
WKUHHWR¿YH\HDUVZKLOHQHZGHOLYHULHVRIVSHFLDOL]HG 6DLQW .LWWV DQG 1HYLV 6DLQW 9LQFHQW DQG WKH
Figure 11
$JHSUR¿OHRIZRUOGÀHHWDOOYHVVHOW\SHVa
100 000
90 000
1 000 dwt in age group
80 000
70 000
60 000
50 000
40 000
30 000
20 000
10 000
0
1
6
11
16
21
26
31
World fleet of vessels of 1000 gross tons and above,
all countries of ownership National flag Foreign flag
36
41
46
Vessel age (years)
6RXUFH:
9HVVHOVRIJURVVWRQV*7DQGDERYHEXLOWEHWZHHQDQG
a
44
Figure 12
$JHSUR¿OHVRIZRUOGÀHHWIRUHLJKWPDMRUYHVVHOW\SHV
10 000
30 000
25 000
20 000
15 000
10 000
5 000
Chemical
9 000
Dry bulk carriers
8 000
7 000
6 000
5 000
4 000
3 000
2 000
1 000
1
6
11
Foreign flag
16
21
26
National flag
31
18 000
16 000
0
36
41
46
Vessel age (years)
14 000
12 000
10 000
8 000
6 000
4 000
6
11
Foreign flag
16
21
26
National flag
31
1
6
11
Foreign flag
16
21
26
National flag
31
General cargo
2 500
2 000
1 500
1 000
0
36
41
46
Vessel age (years)
7 000
1
6
11
Foreign flag
16
21
26
National flag
31
5 000
4 000
3 000
2 000
1 000
1
6
11
Foreign flag
16
21
26
National flag
450
350
300
250
200
150
100
50
1
6
11
Foreign flag
16
21
26
National flag
31
36
41
46
Vessel age (years)
25 000
20 000
15 000
10 000
5 000
0
36
41
46
Vessel age (years)
1
6
11
Foreign flag
16
21
26
National flag
31
1 400
31
Refridgerated cargo
400
6RXUFH:
Oil tankers
6 000
0
36
41
46
Vessel age (years)
30 000
Liquefied gas
0
36
41
46
Vessel age (years)
500
2 000
0
1
3 000
Container
0
36
41
46
Vessel age (years)
Ro-ro cargo
1 200
1 000
800
600
400
200
0
1
6
11
Foreign flag
16
21
26
National flag
31
36
41
46
Vessel age (years)
45
Figure 13
$JHSUR¿OHVRIZRUOGÀHHWPDMRUÀDJVRIUHJLVWUDWLRQRIGHYHORSLQJFRXQWULHVFRXQWULHVZLWKHFRQRPLHVLQ
WUDQVLWLRQDQGRSHQDQGLQWHUQDWLRQDOUHJLVWULHVORFDWHGLQGHYHORSLQJFRXQWULHV
1 400
1 200
1 000
800
600
400
200
0
1
6
11
16
21
26
31
National owner Foreign owner
60
50
40
30
20
10
1
6
11
16
National owner
21
26
31
Foreign owner
300
250
200
150
100
2 000
1 500
1 000
1
6
11 16
21
26
31
36
41
46
Vessel age (years)
Bermuda
800
700
600
500
400
300
200
100
1
6
11 16 21 26 31
36 41 46
Vessel age (years)
180
Brazil
50
Cambodia
160
140
120
100
80
60
40
20
0
1
6
11
16
21
26
31
36
41
46
Vessel age (years)
36
41
46
Vessel age (years)
11
16
21 26 31
Foreign owner
36 41 46
Vessel age (years)
China
2 500
2 000
1 500
1 000
500
0
6
11
16
21
26
31
6
3 000
Cayman Islands
1
1
National owner
2 500
0
36
41
46
Vessel age (years)
350
500
450
400
350
300
250
200
150
100
50
0
3 000
900
70
0
3 500
0
36
41
46
Vessel age (years)
Belize
80
0
Bahamas
4 000
500
90
4 500
Antigua and Barbuda
1 600
1
6
11
16
National owner
21
26
31
Foreign owner
36
41
46
Vessel age (years)
46
Figure 13 (continued)
350
Croatia
350
300
250
200
150
100
400
1
Hong Kong, China
11
16
21
26
31
Foreign owner
36 41 46
Vessel age (years)
India
1 400
4 000
3 000
2 000
1 000
1
6
11
16
21
26
31
Foreign owner
36
41
46
Vessel age (years)
6
1 200
National owner
1 000
800
600
400
200
0
1
6
11
16
National owner
21
26
31
Foreign owner
36
41
46
Vessel age (years)
300
Islamic Republic of Iran
Indonesia
500
1
National owner
600
400
300
200
100
250
200
150
100
50
0
1
6
11
16
21
26
31
1
36
41
46
Vessel age (years)
3 000
6
11 16 21 26 31
36 41 46
Vessel age (years)
900
Republic of Korea
2 500
2 000
1 500
1 000
500
1
6
11
16
21
26
31
36
41
46
Vessel age (years)
Kuwait
800
100
0
5 000
0
150
1 600
6 000
0
200
6
11
16
21
26
31
36
41
46
Vessel age (years)
7 000
0
250
50
50
0
Dominica
300
700
600
500
400
300
200
100
0
1
6
11
16
21
26
31
36
41
46
Vessel age (years)
47
1 200
12 000
Liberia
8 000
6 000
4 000
2 000
0
Malaysia
10 000
1
1
6
11
16
21
26
31
Foreign owner
36 41 46
Vessel age (years)
Mongolia
4 000
3 000
2 000
1 000
1
6
11
16
21
26
31
100
80
60
40
20
150
100
50
6
11
16
21
26
31
6
11
16
21
26
31
36
41
46
Vessel age (years)
Panama
20 000
15 000
10 000
5 000
0
1
1
25 000
120
200
0
36
41
46
Vessel age (years)
Netherlands Antilles
140
200
National owner
160
36
41
46
Vessel age (years)
1
6
11
16
National owner
21
26
31
36
41
46
Vessel age (years)
Foreign owner
450
600
Philippines
500
400
300
200
100
1
6
11
16
21
26
31
36
41
46
Vessel age (years)
Russian Federation
400
400
250
5 000
0
600
Marshall Islands
6 000
0
800
0
6
11
16
21
26
31
36
41
46
Vessel age (years)
7 000
0
1 000
350
300
250
200
150
100
50
0
1
6
11
16
21
26
31
36
41
46
Vessel age (years)
48
8 000
300
250
Saudi Arabia
200
150
100
50
0
1
140
120
100
80
60
40
20
3 000
2 000
400
500
400
300
200
100
200
150
100
50
1
6
11
16
21
26
31
36
41
46
Vessel age (years)
Turkey
800
250
Saint Vincent and the Grenadines
900
Thailand
300
6
11
16
21
26
31
36
41
46
Vessel age (years)
600
6
11
16
21
26
31
36
41
46
Vessel age (years)
350
1
700
0
1
4 000
800
Saint Kitts and Nevis
0
700
600
500
400
300
200
100
1
0
6
11 16 21 26 31 36 41 46
Vessel age (years)
1
6
11
16
21
26
31
36
41
46
Vessel age (years)
300
400
Tuvalu
350
United Arab Emirates
5 000
0
6
11
16
21
26
31
36
41
46
Vessel age (years)
160
300
250
200
150
100
50
0
6 000
1 000
180
0
Singapore
7 000
1
6
11
16
National owner
21
26
31
Foreign owner
36
41
46
Vessel age (years)
250
200
150
100
50
0
1
6
11
16
National owner
21
26
31
Foreign owner
36 41 46
Vessel age (years)
49
350
Vanuatu
200
150
100
50
250
Viet Nam
300
250
200
150
100
50
0
0
1
6
11
16
National owner
6RXUFH:
21
26
31
Foreign owner
36
41
46
Vessel age (years)
1
6
11
16
National owner
21
26
31
Foreign owner
36
41
46
Vessel age (years)
Figure 14
1 000
900
800
700
600
500
400
300
200
100
0
Bermuda
700
$JHSUR¿OHVRIZRUOGÀHHWGHYHORSLQJFRXQWULHVDQGFRXQWULHVZLWKHFRQRPLHVLQWUDQVLWLRQ
DPRQJWKHPDMRUYHVVHORZQLQJFRXQWULHV
6
11
16
21
26
Foreign flag
National flag
31
400
300
200
0
36
41
46
Vessel age (years)
1
6
11
National flag
6 000
16
21
26
31
Foreign flag
36
41
46
Vessel age (years)
400
China
4 000
3 000
2 000
1 000
1
6
11
National flag
16
21
26
Foreign flag
31
36
41
46
Vessel age (years)
Croatia
350
5 000
500
100
1
0
Brazil
600
300
250
200
150
100
50
0
1
6
11
16
21
26
Foreign flag
National flag
31
36
41
46
Vessel age (years)
50
1 800
3 500
3 000
2 500
2 000
1 500
1 000
500
0
6
11
National flag
16
21
26
Foreign flag
31
300
200
100
600
400
1
6
11
National flag
16
21
26
Foreign flag
31
36
41
46
Vessel age (years)
Islamic Republic of Iran
3 500
3 000
2 500
2 000
1 500
1 000
500
1
6
11
National flag
16
21
26
Foreign flag
31
0
36
41
46
Vessel age (years)
1
6
11
16
21
26
31
Foreign flag
National flag
36
41
46
Vessel age (years)
1 400
Republic of Korea
4 500
Kuwait
1 200
4 000
800
4 500
4 000
400
5 000
3 500
3 000
2 500
2 000
1 500
1 000
500
1 000
800
600
400
200
0
1
6
11
National flag
16
21
26
Foreign flag
31
36
41
46
Vessel age (years)
1 400
1
6
11
16
National flag
21
26
31
Foreign flag
36
41
46
Vessel age (years)
1 800
Malaysia
1 000
800
600
400
200
1
6
11
National flag
16
21
26
Foreign flag
31
36
41
46
Vessel age (years)
Russian Federation
1 600
1 200
1 000
36
41
46
Vessel age (years)
500
0
1 200
0
1
Indonesia
0
1 400
200
600
0
India
1 600
Hongkong, China
1 400
1 200
1 000
800
600
400
200
0
1
6
11
National flag
16
21
26
Foreign flag
31
36
41
46
Vessel age (years)
51
3 500
Saudi Arabia
2 500
2 000
1 500
1 000
Singapore
3 000
3 000
2 500
2 000
1 500
1 000
500
0
500
1
6
11
National flag
16
21
26
Foreign flag
31
0
36
41
46
Vessel age (years)
1 500
1 000
500
0
1
6
11
National flag
16
21
26
Foreign flag
31
2 000
36
41
46
Vessel age (years)
2 500
11
16
500
450
400
350
300
250
200
150
100
50
0
21
26
31
Foreign flag
36
41
46
Vessel age (years)
Thailand
1
6
11
National flag
16
21
26
Foreign flag
31
36
41
46
Vessel age (years)
900
Turkey
2 000
1 500
1 000
500
800
6
National flag
2 500
Taiwan Province of China
1
700
600
500
400
300
200
100
0
1
6
11
16
National flag
21
26
31
Foreign flag
36
41
46
Vessel age (years)
0
1
6
11
National flag
16
21
26
Foreign flag
31
36
41
46
Vessel age (years)
400
Viet Nam
350
300
250
200
150
100
50
0
1
6RXUFH:
6
11
16
National flag
21
26
31
Foreign flag
36
41
46
Vessel age (years)
52
*UHQDGLQHV DQG 7XYDOX $ FRPSDULVRQ
EHWZHHQ WKH DJH SUR¿OH RI D UHJLVWU\¶V ÀHHW DQG WKH
OLNHOLKRRG RI WKH ÀDJ EHLQJ WDUJHWHG E\ GLIIHUHQW SRUW
VWDWHFRQWUROUHJLPHVVKRZVDKLJKFRUUHODWLRQ%\ZD\RI
H[DPSOHWKHWKUHHROGHVWÀHHWVDPRQJWKRVHOLVWHGDERYH
are included in the “black lists” of the Paris and Tokyo
memorandums of understanding on port state control,
ZKLOHWKHWKUHH\RXQJHVWÀHHWVDUHRQWKH³ZKLWHOLVWV´
WKDW LV WR VD\ VKLSV À\LQJ WKH ÀDJ RI WKRVH FRXQWULHV
are less likely to be detained during port state control
inspections.3
WKH5HSXEOLFRI.RUHDDQGWKH5XVVLDQ)HGHUDWLRQKDYH
most of their younger tonnage registered under foreign
ÀDJVZKLOHROGHUVKLSVPRVWO\À\WKHQDWLRQDOÀDJ,Q
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the older tonnage is in fact more likely to use a foreign
ÀDJDVFRPSDUHGWRWKH\RXQJHUQDWLRQDOO\FRQWUROOHG
tonnage.
B.
OWNERSHIP OF THE WORLD FLEET
The 35 countries with the largest fleets owned by
nationals are ranked in table 12, according to deadweight
0DQ\ÀDJVRIUHJLVWUDWLRQFDWHUPRVWO\IRUQDWLRQDOVRI tonnage.4 Nationals of the top 35 countries together
WKHVDPHFRXQWU\DQGWKHLUDJHSUR¿OHLVWKXVPRVWO\ FRQWUROSHUFHQWRIWKHZRUOGÀHHWDIXUWKHULQFUHDVH
determined by the structure of the
RYHU WKH SHU FHQW KLVWRULFDO
nationally controlled fleet. These Nationals of the top 35
record of January 2008. Japan has
LQFOXGH%UD]LODYHUDJHDJHSHUGZW countries together control
RYHUWDNHQ*UHHFHDVWKHFRXQWU\ZLWK
19.6 years), China (18.2), Croatia SHUFHQWRIWKHZRUOG
WKHODUJHVWFRQWUROOHGÀHHWWRWDOOLQJ
,QGLD,QGRQHVLD ÀHHW«
173.3 million dwt and 3,720 ships of
WKH,VODPLF5HSXEOLFRI,UDQ
*7DQGDERYH*UHHFHKDVD
.XZDLW0DOD\VLDWKH
FRQWUROOHGÀHHWRIPLOOLRQGZW
5HSXEOLFRI.RUHDWKH5XVVLDQ)HGHUDWLRQ VKLSVIROORZHGE\*HUPDQ\PLOOLRQGZW
6DXGL$UDELD7KDLODQG7XUNH\DQG VKLSV&KLQDPLOOLRQGZWVKLSVDQG
Viet Nam (14.7).
1RUZD\PLOOLRQGZWVKLSV7RJHWKHUWKRVH
¿YHFRXQWULHVKROGDPDUNHWVKDUHRISHUFHQWWKH
6RPHUHJLVWULHVSURYLGHWKHLUFRXQWU\¶VÀDJWRIRUHLJQ top 10 countries together hold a market share of 70 per
owned ships while at the same time maintaining an cent. Of the top 35 countries, 16 are from Asia, 15 are
LPSRUWDQWQDWLRQDOO\FRQWUROOHGÀHHWWKDWXVHVWKHQDWLRQDO from Europe, and 4 are from the Americas, while none
ÀDJWKHVHLQFOXGH+RQJ.RQJ&KLQDDYHUDJHDJHSHU are from Africa or Oceania. Of the top 35 countries and
GZW\HDUV6LQJDSRUHDQGWKH8QLWHG$UDE WHUULWRULHVDUHFODVVL¿HGDVGHYHORSHGVHHDQQH[,
(PLUDWHV%UD]LODQG6DXGL$UDELDWRRKDYHD DVGHYHORSLQJDQGDVHFRQRPLHVLQWUDQVLWLRQ
FHUWDLQÀHHWRIIRUHLJQRZQHGVKLSVWKDWXVHWKHQDWLRQDO
ÀDJLQWKHFDVHRI%UD]LOWKLVLQFOXGHVDODUJHQXPEHU 0RUH WKDQ RWKHU YHVVHO W\SHV FRQWDLQHU VKLSV DUH
RI QHZ RIIVKRUH VXSSO\ YHVVHOV WKDW DUH RZQHG E\ increasingly operated by companies that do not own the
FRPSDQLHVIURP,WDO\1RUZD\WKH8QLWHG6WDWHVDQG YHVVHOVWKH\XVHLQGHHGPDMRUOLQHUVKLSSLQJFRPSDQLHV
other countries.
charter many of the ships that they use to offer their
VHUYLFHV 2I WKH IXOO\ FHOOXODU FRQWDLQHU VKLS ÀHHW LQ
)LJXUHSURYLGHVDQRYHUYLHZRIWKHDJHSUR¿OHVRI VHUYLFHWRGD\SHUFHQWRIVKLSVFRUUHVSRQGLQJWR
nationally owned tonnage. Almost all nationally owned 55.1 per cent of TEU capacity) are operated by liner
fleets include some ships that are
shipping companies that do not
QDWLRQDOO\ÀDJJHGDVZHOODVIRUHLJQ
RZQ WKH VKLS WKHPVHOYHV5 This
ÀDJJHGVKLSV$FXULRXVVSHFLDOFDVH 2ZQHUVIURP,QGRQHVLDWKH
VKDUH LV HYHQ KLJKHU IRU VPDOOHU
LV %HUPXGD YHVVHO RZQHUV IURP Republic of Korea and the
and older geared container ships,
%HUPXGD H[FOXVLYHO\ UHJLVWHU WKHLU 5XVVLDQ)HGHUDWLRQKDYH
whereas the newer and larger
VKLSVXQGHUÀDJVRWKHUWKDQ%HUPXGD most of their younger tonnage
gearless ships are more often
LQFOXGLQJWKH%DKDPDV&URDWLDWKH UHJLVWHUHGXQGHUIRUHLJQÀDJV owned by the major liner operators
ZKLOHROGHUVKLSVPRVWO\À\
0DUVKDOO ,VODQGV WKH 3KLOLSSLQHV
WKHPVHOYHV
WKHQDWLRQDOÀDJ
DQGWKH6SDQLVKLQWHUQDWLRQDOUHJLVWU\
&65ZKLOHDWWKHVDPHWLPHWKHÀDJ
6HYHUDO GHYHORSLQJ FRXQWULHV
RI%HUPXGDLVLQIDFWRQHRIWKHPRVWZLGHO\XVHG±DOEHLW HVSHFLDOO\IURP$VLDEXWDOVRIURP6RXWK$PHULFDDUH
RQO\E\QRQ%HUPXGDQRZQHUV2ZQHUVIURP,QGRQHVLD host to important liner shipping operators, whereas
53
Table 12
7KHFRXQWULHVDQGWHUULWRULHVZLWKWKHODUJHVWFRQWUROOHGÀHHWVGZWDVRI-DQXDU\a
&RXQWU\RUWHUULWRU\RI
RZQHUVKLSE
1XPEHURIYHVVHOV
1DWLRQDO )RUHLJQ
ÀDJ
ÀDJF
'HDGZHLJKWWRQQDJH
Total
1DWLRQDOÀDJF
)RUHLJQÀDJ
Total
)RUHLJQÀDJDV
DSHUFHQWDJH
RIWRWDO
7RWDODVD
SHUFHQWDJH
RIZRUOG
total,
-DQ
7RWDODVD
SHUFHQWDJH
RIZRUOG
total,
-DQ
&KDQJHLQ
SHUFHQWDJH
VKDUH
-DSDQ
733
2 987
3 720
12 199 536
161 085 699
173 285 235
92.96
15.68
15.58
0.10
*UHHFH
720
2 344
3 064
52 833 486
116 593 204
169 426 690
68.82
15.33
16.81
-1.48
*HUPDQ\
479
3 043
3 522
17 428 475
87 525 237
104 953 712
83.39
9.50
9.07
0.43
1 944
1 555
3 499
37 204 731
55 594 490
92 799 221
59.91
8.40
8.18
0.22
1RUZD\
783
1 244
2 027
11 542 923
38 673 312
50 216 235
77.01
4.54
4.51
0.03
5HSXEOLFRI.RUHD
797
438
1 235
20 858 866
25 764 360
46 623 226
55.26
4.22
3.63
0.59
8QLWHG6WDWHV
867
915
1 782
20 606 970
19 358 913
39 965 883
48.44
3.62
3.84
-0.22
+RQJ.RQJ&KLQD
307
373
680
18 296 677
15 427 149
33 723 826
45.75
3.05
3.22
-0.17
'HQPDUN
347
567
914
11 958 945
19 636 578
31 595 523
62.15
2.86
2.64
0.22
8QLWHG.LQJGRP
398
520
918
11 175 470
19 741 031
30 916 501
63.85
2.80
2.50
0.30
91
540
631
4 068 416
25 735 230
29 803 646
86.35
2.70
2.52
0.18
545
331
876
16 482 632
11 747 265
28 229 897
41.61
2.55
2.76
-0.21
&KLQD
7DLZDQ3URYLQFHRI&KLQD
6LQJDSRUH
Italy
5XVVLDQ)HGHUDWLRQ
582
238
820
12 853 503
6 896 850
19 750 353
34.92
1.79
1.71
0.08
1 516
557
2 073
5 944 226
12 343 679
18 287 905
67.50
1.66
1.74
-0.08
,QGLD
495
69
564
14 389 937
2 822 923
17 212 860
16.40
1.56
1.55
0.01
&DQDGD
212
201
413
2 454 402
14 716 391
17 170 793
85.71
1.55
1.81
-0.26
7XUNH\
533
630
1 163
6 803 806
8 647 114
15 450 920
55.97
1.40
1.27
0.13
6DXGL$UDELD
73
99
172
1 234 653
13 676 703
14 911 356
91.72
1.35
1.25
0.10
,UDQ,VODPLF5HSXEOLFRI
83
128
211
1 357 901
13 202 731
14 560 632
90.67
1.32
0.99
0.33
%HOJLXP
93
147
240
6 283 078
7 164 128
13 447 206
53.28
1.22
1.17
0.05
0DOD\VLD
338
97
435
7 717 055
3 842 005
11 559 060
33.24
1.05
1.08
-0.03
8QLWHG$UDE(PLUDWHV
58
347
405
701 714
8 331 052
9 032 766
92.23
0.82
0.86
-0.04
1HWKHUODQGV
491
267
758
4 217 884
4 186 617
8 404 501
49.81
0.76
0.83
-0.07
&\SUXV
126
234
360
3 196 071
5 162 708
8 358 779
61.76
0.76
0.70
0.06
6ZHGHQ
143
224
367
1 740 141
5 697 891
7 438 032
76.60
0.67
0.67
0.00
,QGRQHVLD
715
106
821
4 956 797
2 064 867
7 021 664
29.41
0.64
0.70
-0.06
)UDQFH
180
188
368
2 988 629
3 576 784
6 565 413
54.48
0.59
0.63
-0.04
.XZDLW
38
44
82
3 846 063
2 602 518
6 448 581
40.36
0.58
0.51
0.07
9LHW1DP
389
67
456
3 629 175
1 938 996
5 568 171
34.82
0.50
0.44
0.06
%UD]LO
129
15
144
2 444 762
2 266 253
4 711 015
48.11
0.43
0.43
-0.00
6SDLQ
187
204
391
1 562 315
2 885 611
4 447 926
64.88
0.40
0.43
-0.03
7KDLODQG
300
44
344
3 506 972
620 161
4 127 133
15.03
0.37
0.39
-0.02
6ZLW]HUODQG
35
114
149
1 012 164
2 816 788
3 828 952
73.57
0.35
0.34
0.01
&URDWLD
78
39
117
2 311 784
985 103
3 296 887
29.88
0.30
0.30
-0.00
0
65
65
0
3 227 658
3 227 658
100.00
0.29
0.31
-0.02
7RWDOFRXQWULHVRUWHUULWRULHV
14 805
18 981
33 786
329 810 159
726 557 999
1 056 368 158
68.78
95.60
95.37
0.23
World total
16 996
20 840
37 836
347 007 002
757 952 026
1 104 959 028
68.60
100.00
100.00
Bermuda
6RXUFH:
9HVVHOVRI*7DQGDERYHH[FOXGLQJWKH8QLWHG6WDWHV5HVHUYH)OHHWDQGWKH8QLWHG6WDWHVDQG&DQDGLDQ
*UHDW/DNHVÀHHWVZKLFKKDYHDFRPELQHGWRQQDJHRIPLOOLRQGZW
7KHFRXQWU\RIRZQHUVKLSLQGLFDWHVZKHUHWKHWUXHFRQWUROOLQJLQWHUHVWLHSDUHQWFRPSDQ\RIWKHÀHHWLV
ORFDWHG,QVHYHUDOFDVHVGHWHUPLQLQJWKLVKDVUHTXLUHGPDNLQJFHUWDLQMXGJHPHQWV7KXVIRULQVWDQFH*UHHFH
LVVKRZQDVWKHFRXQWU\RIRZQHUVKLSIRUYHVVHOVRZQHGE\D*UHHNQDWLRQDOZLWKUHSUHVHQWDWLYHRI¿FHVLQ1HZ
<RUN/RQGRQDQG3LUDHXVDOWKRXJKWKHRZQHUPD\EHGRPLFLOHGLQWKH8QLWHG6WDWHV
,QFOXGHVYHVVHOVÀ\LQJWKHQDWLRQDOÀDJEXWUHJLVWHUHGLQWHUULWRULDOGHSHQGHQFLHVRUDVVRFLDWHGVHOIJRYHUQLQJ
WHUULWRULHVVXFKDVWKH,VOHRI0DQ8QLWHG.LQJGRPDQGDOVRVHFRQGUHJLVWULHVVXFKDV',6'HQPDUN1,6
1RUZD\RU),6)UDQFH)RUWKH8QLWHG.LQJGRP%ULWLVKÀDJYHVVHOVDUHLQFOXGHGXQGHUWKHQDWLRQDOÀDJ
H[FHSWIRU%HUPXGD
a
b
c
54
their share among the shipowning companies is
VPDOOHU PDQ\ RI WKH QRQRSHUDWLQJ FRQWDLQHU VKLS
RZQHUVDUHEDVHGLQ(XURSHQRWDEO\LQ*HUPDQ\%\
ZD\ RI H[DPSOH RQO\ RI WKH &6$9RSHUDWHG
VKLSV&KLOHDUHDOVRRZQHGE\&6$9ZKLOHPRVWRI
the remainder are owned by German non-operating
FRPSDQLHVVXFKDV'RHKOH156RU2VNDU:HKU+DQMLQ
5HSXEOLFRI.RUHDRSHUDWHVVKLSVRIZKLFKLWRZQV
,56/,VODPLF5HSXEOLFRI,UDQRZQVRIWKH
YHVVHOVLWRSHUDWHV0DUXED$UJHQWLQDRZQVRQH
RIWKHVKLSVLWRSHUDWHV22&/+RQJ.RQJ&KLQD
RSHUDWHV VKLSV RI ZKLFK LW RZQV DQG 0,6&
0DOD\VLD RSHUDWHV VKLSV RI ZKLFK LW RZQV This distinction between ownership and operation of
YHVVHOVLV\HWDQRWKHUH[DPSOHRIKRZWKHJOREDOL]DWLRQ
RIWKHPDULWLPHEXVLQHVVOHDGVWRDGLYLVLRQRIODERXU
FDSLWDOFRVWVDQGWD[V\VWHPVPD\EHQH¿WWKHRZQHUVKLS
RI YHVVHOV LQ VRPH FRXQWULHV ZKLOH ORJLVWLFV NQRZ
how and the costs of management skills may be more
IDYRXUDEOHLQRWKHUVLQFOXGLQJPDQ\PLGGOHLQFRPH
GHYHORSLQJFRXQWULHV
C.
REGISTRATION OF SHIPS
6HYHUDO UHJLVWULHV UHFRUGHG GRXEOHGLJLW JURZWK LQ
2008, notably Viet Nam (+19.8 per cent), Germany
SHU FHQW WKH 8QLWHG .LQJGRP SHU
FHQWWKH0DUVKDOO,VODQGVSHUFHQWWKH'DQLVK
,QWHUQDWLRQDO 5HJLVWU\ SHU FHQW 0DOWD SHU FHQW DQG$QWLJXD DQG %DUEXGD SHU FHQW
0DOWD JDLQHG DGGLWLRQDO WRQQDJH FRQWUROOHG E\ WKH
,VODPLF5HSXEOLFRI,UDQZKRVHQDWLRQDOÀDJQRORQJHU
appears among the top 35 (it was still ranked 32 in
January 2008). The growth in Viet Nam, Germany
DQGWKH'DQLVK,QWHUQDWLRQDO5HJLVWU\ZDVPRVWO\GXH
to nationally controlled tonnage, while the growth in
WKH8QLWHG.LQJGRPWKH0DUVKDOO,VODQGV0DOWDDQG
$QWLJXD DQG %DUEXGD ZDV SUHGRPLQDQWO\ GXH WR QHZ
UHJLVWUDWLRQVRIIRUHLJQRZQHGYHVVHOV
$VUHJDUGVWKHSHUFHQWDJHGLVWULEXWLRQRIWKHZRUOGÀHHW
the 10 major open and international registries increased
their combined market share between 2008 and 2009 by
a further 0.77 percentage points to reach 55.11 per cent.
The 10 major open and international registries had their
highest shares among dry bulk carriers (60.6 per cent)
and oil tankers (55.6 per cent).
Excluding the 10 major open and international registries,
SHUFHQWRIWKHZRUOGÀHHWLVUHJLVWHUHGLQGHYHORSHG
7KHFRXQWULHVDQGWHUULWRULHVZLWKWKHODUJHVWÀHHWV countries, with a particularly high share (27.1 per cent)
UHJLVWHUHGXQGHUWKHLUÀDJDFFRXQWIRUSHUFHQWRI LQ WKH FRQWDLQHU VKLS ÀHHW WDEOH &RXQWULHV ZLWK
economies in transition accounted
WKHZRUOGÀHHW±DIXUWKHULQFUHDVH
for 1.1 per cent of the total world
of 0.45 per cent compared to their
The top 5 registries together
ÀHHW ZLWK SHU FHQW RI JHQHUDO
92.42 per cent share in January
account
for
49.95
per
cent
6
FDUJR YHVVHOV 2QO\ SHU FHQW RI
2008 (table 13). The top 5 registries
RIWKHZRUOG¶VGZWDQGWKH
the world’s tonnage is registered
together account for 49.95 per cent
top 10 registries account for
LQ GHYHORSLQJ FRXQWULHV LQ$IULFD
of the world’s dwt, and the top 10
SHUFHQW±ERWK¿JXUHV
and Oceania, including the open
registries account for 70.49 per
VKRZLQJLQFUHDVHVRYHU
UHJLVWULHV RI 7XYDOX DQG 9DQXDWX
FHQW±ERWK¿JXUHVVKRZLQJLQFUHDVHV
SUHYLRXV\HDUV
7ZR SHU FHQW RI WKH ZRUOG ÀHHW LV
RYHUSUHYLRXV\HDUV
UHJLVWHUHG LQ GHYHORSLQJ FRXQWULHV
7KHODUJHVWÀDJRIUHJLVWUDWLRQFRQWLQXHVWREH3DQDPD LQWKH$PHULFDVLQFOXGLQJVHYHUDORSHQUHJLVWULHVVXFK
ZLWKPLOOLRQGZWSHUFHQWRIWKHZRUOGÀHHW DV%DUEDGRV%HOL]HWKH3OXULQDWLRQDO6WDWHRI%ROLYLD
IROORZHGE\/LEHULDPLOOLRQGZWSHUFHQW 'RPLQLFD+RQGXUDV-DPDLFDWKH1HWKHUODQGV$QWLOOHV
7KHVHWZROHDGLQJUHJLVWULHVDUHIROORZHGE\¿YHÀDJV DQG 6DLQW .LWWV DQG 1HYLV :LWK SHU FHQW RI WKH
with between 61 and 68 million dwt (between 5 and ZRUOGÀHHWGHYHORSLQJFRXQWULHVLQ$VLDDFFRXQWIRUD
SHUFHQWRIWKHZRUOGÀHHWHDFKWKH0DUVKDOO,VODQGV KLJKHUPDUNHWVKDUHLQYHVVHOUHJLVWUDWLRQWKDQGHYHORSHG
+RQJ .RQJ &KLQD *UHHFH WKH %DKDPDV DQG countries, holding a particularly high share in the general
6LQJDSRUH$VUHJDUGVWKHQXPEHURIVKLSVWKHODUJHVW FDUJRÀHHWSHUFHQWDQGGU\EXONFDUULHUVSHU
ÀHHWVDUHÀDJJHGLQ3DQDPDWKH8QLWHG6WDWHV cent).
-DSDQ,QGRQHVLD&KLQD
and the Russian Federation (3,444). Except for Panama, The following section will examine in more detail the
WKHVH ÀHHWV LQFOXGH D ODUJH QXPEHU RI JHQHUDO FDUJR OLQNV EHWZHHQ YHVVHO RZQHUVKLS DQG UHJLVWUDWLRQ IRU
DQGRWKHUVPDOOHUYHVVHOVWKDWDUHHPSOR\HGLQFRDVWDO the 10 major open and international registries and the
35 major countries of ownership.
shipping.
)ODJVRIUHJLVWUDWLRQ
55
Table 13
7KHÀDJVRIUHJLVWUDWLRQZLWKWKHODUJHVWUHJLVWHUHGGHDGZHLJKWWRQQDJHDVRI-DQXDU\a
)ODJRIUHJLVWUDWLRQ
1XPEHURI 6KDUHRI 'HDGZHLJKW 6KDUHRI Cumulated
YHVVHOV
ZRUOGWRWDO WRQQDJH ZRUOGWRWDO
VKDUH
YHVVHOV
GZW
GZW
GZW
$YHUDJH
'ZW
YHVVHOVL]H JURZWK
GZW
SHUFHQW
3DQDPD
8 065
8.09
273 961
22.98
22.98
33 969
8.47
/LEHULD
2 306
2.31
125 993
10.57
33.54
54 637
7.21
0DUVKDOO,VODQGV
1 265
1.27
68 451
5.74
39.28
54 111
14.85
+RQJ.RQJ&KLQD
1 371
1.37
64 183
5.38
44.67
46 814
8.40
*UHHFH
1 498
1.50
63 036
5.29
49.95
42 080
2.69
%DKDPDV
1 446
1.45
62 013
5.20
55.15
42 886
3.80
6LQJDSRUH
2 451
2.46
60 798
5.10
60.25
24 805
9.45
Malta
1 532
1.54
50 666
4.25
64.50
33 072
12.05
&KLQD
3 916
3.93
39 998
3.35
67.86
10 214
7.74
&\SUXV
1 016
1.02
31 388
2.63
70.49
30 893
6.65
5HSXEOLFRI.RUHD
3 001
3.01
22 600
1.90
72.38
7 531
6.90
1RUZD\1,6
601
0.60
20 322
1.70
74.09
33 813
-0.88
*HUPDQ\
961
0.96
17 949
1.51
75.59
18 677
19.41
8QLWHG.LQJGRP
1 676
1.68
15 950
1.34
76.93
9 517
15.25
-DSDQ
6 316
6.33
15 417
1.29
78.23
2 441
4.09
,QGLD
1 460
1.46
15 300
1.28
79.51
10 480
1.72
,VOHRI0DQ
Italy
'HQPDUN',6
345
0.35
14 516
1.22
80.73
42 075
4.81
1 588
1.59
14 415
1.21
81.93
9 078
8.66
470
0.47
12 479
1.05
82.98
26 551
14.45
$QWLJXDDQG%DUEXGD
1 195
1.20
12 455
1.04
84.03
10 423
11.38
8QLWHG6WDWHV
6 435
6.45
11 910
1.00
85.02
1 851
-1.88
Bermuda
153
0.15
10 298
0.86
85.89
67 310
4.34
0DOD\VLD
1 238
1.24
9 391
0.79
86.68
7 586
-0.61
7XUNH\
1 301
1.30
7 476
0.63
87.30
5 747
2.41
6DLQW9LQFHQWDQGWKH*UHQDGLQHV
1 009
1.01
7 400
0.62
87.92
7 334
-12.97
)UDQFH),6
168
0.17
7 144
0.60
88.52
42 524
-3.63
5XVVLDQ)HGHUDWLRQ
3 444
3.45
7 140
0.60
89.12
2 073
0.07
,QGRQHVLD
4 464
4.48
7 025
0.59
89.71
1 574
2.42
1HWKHUODQGV
1 296
1.30
6 815
0.57
90.28
5 258
9.61
3KLOLSSLQHV
1 808
1.81
6 750
0.57
90.85
3 733
1.37
243
0.24
6 631
0.56
91.40
27 289
2.54
1 312
1.32
4 663
0.39
91.80
3 554
19.77
%HOJLXP
9LHW1DP
&D\PDQ,VODQGV
153
0.15
4 314
0.36
92.16
28 196
-1.01
637
0.64
4 246
0.36
92.51
6 665
-1.43
7KDLODQG
879
0.88
4 218
0.35
92.87
4 799
-0.12
RIUHJLVWUDWLRQ
67 019
67.19
1 107 312
92.87
16 522
7.19
World Total
99 741
100.00
1 192 317
100.00
11 954
6.67
7RWDO7RSÀDJV
6RXUFH:
a
6KLSVRI*7DQGDERYHUDQNHGE\GHDGZHLJKWWRQQDJH
56
Table 14
'LVWULEXWLRQRIGZWFDSDFLW\RIYHVVHOW\SHVE\FRXQWU\JURXSRUUHJLVWUDWLRQa
SHUFHQWDJHFKDQJHLQLWDOLFV
World total
'HYHORSHGFRXQWULHV
&RXQWULHVZLWKHFRQRPLHV
LQWUDQVLWLRQ
'HYHORSLQJFRXQWULHV
of which:
$IULFD
$PHULFDV
$VLD
2FHDQLD
2WKHUXQDOORFDWHG
PDMRURSHQDQG
LQWHUQDWLRQDOUHJLVWULHVE
6RXUFH:
a
b
c
Total
ÀHHW
100.00
18.23
-0.31
2LO
WDQNHUV
100.00
20.05
-0.26
%XON
FDUULHUV
100.00
11.50
-0.16
*HQHUDO
FDUJRF
100.00
17.28
0.24
&RQWDLQHU Other
VKLSV
W\SHV
100.00
100.00
27.09
26.73
-0.80
-3.12
1.06
-0.09
25.21
-0.30
0.82
0.01
23.33
-0.85
0.50
-0.12
27.19
-0.21
4.68
-0.25
35.01
-0.06
0.11
0.01
18.85
0.82
2.13
-0.49
24.30
0.62
0.59
0.02
1.91
-0.07
22.29
-0.29
0.42
0.03
0.39
-0.07
0.46
0.03
2.05
-0.14
20.47
-0.76
0.35
0.02
0.24
-0.09
0.30
0.00
1.40
-0.05
25.01
-0.25
0.49
0.09
0.19
-0.04
1.76
0.04
4.29
0.20
28.27
-0.30
0.69
0.00
1.73
-0.07
0.13
0.00
0.29
0.01
18.40
0.80
0.03
0.00
0.03
-0.01
2.03
-0.10
3.85
-0.22
17.52
1.02
0.91
-0.08
1.01
-0.23
55.11
0.77
55.56
1.18
60.62
0.53
41.31
0.14
53.91
-0.01
45.83
3.22
9HVVHOVRI*7DQGDERYH
7KHUHH[LVWVQRFOHDUGH¿QLWLRQRI³RSHQDQGLQWHUQDWLRQDOUHJLVWULHV´81&7$'KDVJURXSHGWKHPDMRURSHQ
DQGLQWHUQDWLRQDOUHJLVWULHVWRLQFOXGHWKHODUJHVWÀHHWVZLWKPRUHWKDQSHUFHQWIRUHLJQFRQWUROOHGWRQQDJH
6HHWDEOHIRUWKHOLVWRIUHJLVWULHV
,QFOXGLQJSDVVHQJHUFDUJR
1DWLRQDOLW\RIFRQWUROOLQJLQWHUHVWV
DOOWKHWRSYHVVHORZQLQJHFRQRPLHVIRUDQ\RQHRIWKH
WRSUHJLVWULHV2WKHUHFRQRPLHVWKDWPDNHKHDY\XVHRI
0RVW RSHQ DQG LQWHUQDWLRQDO UHJLVWULHV VSHFLDOL]H LQ WKHÀDJRI3DQDPDIRUWKHLUYHVVHOVDUH7DLZDQ3URYLQFH
certain countries of ownership (table 15).7 For instance, of China (42.8 per cent of the tonnage controlled by
WKHÀDJRIWKHZRUOG¶VODUJHVWUHJLVWU\
RZQHUV IURP 7DLZDQ 3URYLQFH RI
Panama, is predominantly used by «WKHÀDJRIWKHZRUOG¶V
China is registered in Panama), the
YHVVHORZQHUVRI-DSDQZKRDFFRXQW largest registry, Panama, is
5HSXEOLF RI .RUHD SHU FHQW
for more than half of the registry’s SUHGRPLQDQWO\XVHGE\YHVVHO the United Arab Emirates (30.9 per
tonnage (128.4 million dwt of ships RZQHUVRI-DSDQZKRDFFRXQW cent) and China (26.6 per cent).
RI *7 DQG DERYH IROORZHG for more than half of the
by owners from China (22.8 million UHJLVWU\¶VWRQQDJH«
The world’s second largest registry,
dwt), Greece (19.4 million dwt) and
Liberia, is predominantly used by
WKH5HSXEOLFRI.RUHDPLOOLRQGZW)URP-DSDQ¶V owners from Germany (39.5 million dwt) and Greece
SHUVSHFWLYH WKH 3DQDPDQLDQ UHJLVWU\ LV HYHQ PRUH PLOOLRQ GZW 6DXGL$UDELD UHOLHV RQ /LEHULD
important: 74.1 per cent of Japanese-owned tonnage uses WR SURYLGH WKH ÀDJ IRU SHU FHQW RI LWV QDWLRQDOO\
WKHÀDJRI3DQDPDWKLVLVWKHKLJKHVWSHUFHQWDJHDPRQJ FRQWUROOHG ÀHHW )RUW\IRXU SHU FHQW RI WKH WRQQDJH
FRQWUROOHGE\RZQHUVIURPWKH5XVVLDQ)HGHUDWLRQÀLHVWKH
ÀDJRI/LEHULDDVGRHVSHUFHQWRI*HUPDQRZQHG
WRQQDJH /LEHULD VXSSOLHV WKH ÀDJ WR SHU FHQW RI WKH
tonnage of the top 35 shipowning countries, albeit only
to 6.1 per cent of the number of ships, which is due to the
ODUJHDYHUDJHYHVVHOVL]HRI/LEHULDQUHJLVWHUHGVKLSV
%\-DQXDU\WKH0DUVKDOO,VODQGVKDGEHFRPHWKH
WKLUG ODUJHVW UHJLVWU\ FDWHULQJ DERYH DOO IRU WRQQDJH
owned by interests from Greece (16.1 million dwt),
WKH 8QLWHG 6WDWHV PLOOLRQ GZW DQG *HUPDQ\
(10.4 million dwt). This registry is of particular
LPSRUWDQFH IRU WKH 8QLWHG 6WDWHV DV SHU FHQW
RI 8QLWHG 6WDWHV±FRQWUROOHG WRQQDJH IOLHV WKH IODJ
RI WKH 0DUVKDOO ,VODQGV 7XUNLVK RZQHUV UHO\ RQ WKH
0DUVKDOO ,VODQGV UHJLVWU\ IRU SHU FHQW RI WKHLU
nationally controlled tonnage.
57
dependency among the top 10 registries. From the
*HUPDQSHUVSHFWLYHSHUFHQWRILWVWRQQDJHXVHVWKH
ÀDJRI$QWLJXDDQG%DUEXGDDVGRHVSHUFHQWRIWKH
WRQQDJHRZQHGE\6ZLVVQDWLRQDOV%HUPXGDLVPRVWO\
the registry of tonnage from China (2.2 million dwt) and
6ZHGHQPLOOLRQGZW2IWKH6ZHGLVKRZQHGÀHHW
SHUFHQWÀLHVWKHÀDJRI%HUPXGD7KH6DLQW9LQFHQW
DQGWKH*UHQDGLQHV±ÀDJJHGÀHHWLQFOXGHVPLOOLRQ
dwt owned by Chinese interests, and 1.7 million dwt
owned by interests from Greece. This registry caters
IRUDUHODWLYHO\ZLGHUDQJHRIRZQHUVDQGQRFRXQWU\
depends on it for a particularly high percentage of its
nationally owned tonnage.
7KH PRWLYDWLRQV IRU FKRRVLQJ D IRUHLJQ ÀDJ YDU\ IRU
GLIIHUHQWFRXQWULHVYHVVHOW\SHVDQGYHVVHOFKDUDFWHULVWLFV
(PSLULFDO UHVHDUFK VXJJHVWV WKDW ROGHU YHVVHOV DUH PRUH
OLNHO\WREHQDWLRQDOO\ÀDJJHGWKDQIRUHLJQÀDJJHG8 Another
,Q(XURSHWKHÀDJRI0DOWDLVXVHGDERYHDOOE\VKLSV GHWHUPLQLQJIDFWRUIRUDYHVVHORZQHUWRFKRRVHDIRUHLJQ
IURP*UHHFHPLOOLRQGZWDQGWKH,VODPLF5HSXEOLF ÀDJDSSHDUVWREHWKHOLNHOLKRRGWKDWLWWUDGHVLQWHUQDWLRQDOO\
RI ,UDQ PLOOLRQ GZW 2I WKH ÀHHW RZQHG E\ WKH DV GR PRVW FDUJR DQG ODUJHU YHVVHOV DV FRPSDUHG WR
,VODPLF 5HSXEOLF RI ,UDQ SHU FHQW LV UHJLVWHUHG SDVVHQJHU RU VPDOOHU XQLWV )XUWKHUPRUH LI D YHVVHO LV
LQ 0DOWD 7KH UHJLVWU\ RI &\SUXV
built in the country of ownership, this
GHSHQGV KHDYLO\ RQ RZQHUV IURP
increases the likelihood of remaining
2ZQHUVIURPKLJKLQFRPH
Greece (13.1 million dwt) and
LQWKHQDWLRQDOÀDJUHJLVWU\2ZQHUV
FRXQWULHVDUHPRUHOLNHO\WR
Germany (4.2 million dwt), and
from high-income countries are more
FKRRVHDIRUHLJQÀDJWKDQ
also on owners from Cyprus itself
OLNHO\ WR FKRRVH D IRUHLJQ ÀDJ WKDQ
RZQHUVIURPFRXQWULHVZLWKD
(3.2 million dwt). Only 38.2 per
owners from countries with a lower
ORZHU*'3SHUFDSLWD«
cent of the Cypriot-owned fleet
GDP per capita or with low human
XVHV WKH QDWLRQDO ÀDJ RI &\SUXV
GHYHORSPHQW LQGLFDWRUV VXFK DV D
7KHÀDJRIWKH,VOHRI0DQLVXVHGSUHGRPLQDQWO\E\ low literacy rate or life expectancy. These indicators are
RZQHUV IURP WKH 8QLWHG .LQJGRP PLOOLRQ GZW FRUUHODWHG ZLWK KLJKHU ZDJHV DQG XVLQJ D IRUHLJQ ÀDJ
Greece (4.6 million dwt) and Norway (2.1 million dwt). RIWHQDOORZVWKHHPSOR\PHQWRIVHDIDUHUVIURPGHYHORSLQJ
)URPWKHSHUVSHFWLYHRIWKHFRXQWU\RIRZQHUVKLSWKLV countries with lower wages.
UHJLVWU\LVUHODWLYHO\LPSRUWDQWIRUWKH8QLWHG.LQJGRP
as 19.1 per cent of the tonnage owned by the United D.
SHIPBUILDING, DEMOLITION AND
.LQJGRPÀLHVWKHÀDJRIWKH,VOHRI0DQ
7+(6(&21'+$1'0$5.(7
,Q WKH &DULEEHDQ WKH UHJLVWU\ RI WKH %DKDPDV FDWHUV 'HOLYHU\RIQHZEXLOGLQJV
predominantly for tonnage owned by Greece (12.6 million
dwt), Canada (8.5 million dwt) and Norway (6.7 million ,Q VSLWH RI WKH JOREDO HFRQRPLF FULVLV WKH ZRUOG¶V
dwt). Of Canadian-controlled tonnage, 49.4 per cent VKLS\DUGV FRQWLQXHG WR GHOLYHU QHZ VKLSV WKURXJKRXW
2008. Although new orders for
LVUHJLVWHUHGLQWKH%DKDPDVDVLV
PRVWYHVVHOW\SHVSUDFWLFDOO\FDPH
27.1 per cent of the fleet owned
$OWKRXJKQHZRUGHUVIRU
WRDVWDQGVWLOOYHVVHOVFRQWLQXHGWR
E\ 6DXGL$UDELD SHU FHQW RI
PRVWYHVVHOW\SHVSUDFWLFDOO\
be constructed in line with orders
Dutch-controlled tonnage, and
FDPHWRDVWDQGVWLOOYHVVHOV
placed prior to the economic crisis,
SHUFHQWRIWRQQDJHIURP6SDLQ continued to be constructed
$QWLJXD DQG %DUEXGD GHSHQGV LQOLQHZLWKRUGHUVSODFHGSULRU especially in the dry bulk segment.
,Q IDFW QHZEXLOGLQJ DFWLYLWLHV
DOPRVW H[FOXVLYHO\ RQ *HUPDQ
WRWKHHFRQRPLFFULVLV«
UHDFKHG WKH KLJKHVW OHYHO HYHU
owned tonnage (10.5 million dwt),
which accounts for an 89.9 per cent share among UHFRUGHGLQWHUPVRIGHDGZHLJKWWRQVZLWKGHOLYHULHV
the top 35 shipowning countries. This is the highest WRWDOOLQJPLOOLRQGZWVHHWDEOHDQG¿J±D
58
Table 15
7UXHQDWLRQDOLW\RIPDMRURSHQDQGLQWHUQDWLRQDOUHJLVWU\ÀHHWVDVRI-DQXDU\a
&RXQWU\RUWHUULWRU\
RIRZQHUVKLS
-DSDQ
*UHHFH
*HUPDQ\
3DQDPD
/LEHULD
0DUVKDOO,VODQGV
1XPEHU
RIYHVVHOV
GZW
%
1XPEHU
RIYHVVHOV
GZW
%
2 292
128 423
53.3
115
6 996
6.0
503
19 429
8.1
387
23 155
1XPEHU
RIYHVVHOV
GZW
%
23
2 234
3.7
19.9
282
16 051
26.7
95
7 501
3.1
857
39 527
34.0
233
10 449
17.4
&KLQD
558
22 818
9.5
12
364
0.3
10
789
1.3
1RUZD\
134
4 540
1.9
49
2 164
1.9
86
6 185
10.3
5HSXEOLFRI.RUHD
324
19 209
8.0
5
124
0.1
13
1 059
1.8
8QLWHG6WDWHV
172
3 065
1.3
105
3 698
3.2
170
11 788
19.6
+RQJ.RQJ&KLQD
127
4 864
2.0
60
3 672
3.2
7
283
0.5
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40
1 063
0.4
9
275
0.2
9
521
0.9
8QLWHG.LQJGRP
56
1 305
0.5
30
1 345
1.2
16
798
1.3
332
12 753
5.3
92
7 186
6.2
1
276
0.5
6LQJDSRUH
92
2 668
1.1
36
4 420
3.8
20
952
1.6
Italy
31
788
0.3
48
2 953
2.5
3
127
0.2
5XVVLDQ)HGHUDWLRQ
24
238
0.1
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8 049
6.9
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0.3
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25
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0.4
1
150
0.1
2
310
0.5
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11
975
0.4
5
215
0.2
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7XUNH\
96
782
0.3
12
228
0.2
57
2 344
3.9
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8
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7 353
6.3
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1 242
2.1
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68
0.0
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3
192
0.1
14
0.0
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0.7
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17
296
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0.1
118
2 788
1.2
1 556
1.3
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511
0.9
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29
242
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14
781
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0.7
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1.9
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7
72
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1
27
26
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1 255
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116 104
100.0
1 060
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7RWDORIWKHFRXQWULHV
5 298
240 917
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15.7
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59
Table 15 (continued)
%DKDPDV
1XPEHU
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%
87
4 900
8.8
217
12 573
43
2 817
9
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227
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22.5
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41.8
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760
1.4
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25
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60
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-
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417
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12
516
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53
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3
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2
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11
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1 174
55 804
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46 566
100.0
29 524
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7RWDORIWKHFRXQWULHV
3.5
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1 226
3.6
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0
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7RWDORIWKHFRXQWULHV
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0.9
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429
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269
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2.9
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116 676
14 561
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39
0.3
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3.9
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155
1.2
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0.5
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35.7
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296
2.2
7 748
1.3
26 175
8 359
92.7
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0.4
2 267
0.4
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7 438
30.5
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30
0.2
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7 022
11.6
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64
0.5
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0.2
16 767
6 565
16.3
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12
0.1
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0.1
60 316
6 449
11.2
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39
0.3
1 330
0.2
34 102
5 568
23.9
9LHW1DP
13
0.1
2 209
0.4
169 923
4 711
46.9
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75
0.6
1 805
0.3
24 069
4 448
40.6
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16
0.1
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12 158
4 127
4.7
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88
0.7
2 260
0.4
25 677
3 829
59.0
6ZLW]HUODQG
35
0.3
969
0.2
27 693
3 297
29.4
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22
0.2
1 948
0.3
88 557
3 228
60.4
Bermuda
13 462
100.0
586 850
100.0
43 593
1 056 368
55.6
39.8
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a
55.6
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6KLSVRI*7DQGDERYH
62
Table 16
'HOLYHULHVRIQHZEXLOGLQJVVHOHFWHG\HDUVa
2LOWDQNHUVE
Year
'U\EXONFDUULHUVE
2WKHUVF
Total
1RRI 0LOOLRQ $YHUDJH 1RRI 0LOOLRQ $YHUDJH 1RRI 0LOOLRQ $YHUDJH 1RRI 0LOOLRQ $YHUDJH
YHVVHOV GZW
YHVVHO YHVVHOV GZW
YHVVHO YHVVHOV GZW
YHVVHO YHVVHOV GZW
YHVVHO
VL]H
VL]H
VL]H
VL]H
d
SRXUFH:
c
d
a
b
99
13
72
8
81
11
69
6
120
12
161
17
154
10
112
8
182
12
281
16
294
16
315
16
329
14
372
13
437
15
7.0
39
3.9
16
8.7
38
7.5
20
12.6
36
19.1
47
20.8
47
14.4
32
23.4
48
29.4
60
27.0
55
29.0
41
24.7
35
29.6
36
33.7
41
70 707
54 167
107 407
108 696
105 000
118 634
135 065
128 571
128 571
104 626
91 837
92 063
74 948
79 570
77 117
135
17
339
36
119
16
299
28
217
21
195
21
188
12
310
21
226
15
161
9
266
15
308
16
307
13
312
11
355
12
4.7
26
14.7
59
9.6
42
18.8
51
11.6
33
13.0
32
13.1
30
21.0
46
14.1
29
11.2
23
19.8
40
23.2
33
25.1
35
24.5
30
28.9
35
34 815
43 363
80 672
62 876
53 456
66 667
69 681
67 742
62 389
69 565
74 436
75 325
81 759
78 526
81 408
552
70
539
57
523
72
699
66
704
68
589
62
1 202
78
1 048
71
1 131
73
1 265
74
1 262
69
1 341
68
1 762
73
2 098
75
2 207
74
4.4
24
5.7
23
4.0
17
10.5
29
11.1
31
8.8
22
10.5
24
9.8
22
11.5
23
8.6
17
7.9
16
16.8
24
21.3
30
27.8
34
19.7
24
7 971
10 575
7 648
15 021
15 767
14 941
8 735
9 351
10 168
6 798
6 260
12 528
12 110
13 231
8 930
786
100
950
100
723
100
1 067
100
1 041
100
945
100
1 544
100
1 470
100
1 539
100
1 707
100
1 822
100
1 964
100
2 398
100
2 782
100
2 999
100
18.0
100
25.0
100
23.0
100
36.8
100
35.3
100
40.5
100
44.4
100
45.2
100
49.0
100
49.2
100
49.4
100
70.5
100
71.1
100
81.9
100
82.3
100
22 901
26 316
31 812
34 489
33 910
42 857
28 756
30 748
31 839
28 822
27 113
35 896
29 648
29 424
27 445
Compiled by the UNCTAD secretariat, on the basis of data from Fearnleys ReviewYDULRXVLVVXHVDQGIURP
Lloyd’s Register – Fairplay.
3HUFHQWDJHVKDUHVSHUYHVVHOW\SHDUHVKRZQLQLWDOLFV
9HVVHOVRYHUGZW
6HDJRLQJFDUJRFDUU\LQJYHVVHOVRIRYHU*7
3URYLVLRQDO
63
Figure 15
'HOLYHULHVRIQHZEXLOGLQJV±
90
80
70
Million dwt
60
50
40
30
20
10
0
1997
1998
1999
2000
2001
Oil tankers
2002
2003
Dry bulk
2004
2005
2006
2007
2008
All others
6RXUFH Compiled by the UNCTAD secretariat, on the basis of data from Fearnleys ReviewYDULRXVLVVXHVDQGIURP
/OR\G¶V5HJLVWHU±)DLUSOD\6HHDOVRWKHQRWHVWRWDEOH
IXUWKHULQFUHDVHRYHUWKHSUHYLRXV\HDU¶VKLVWRULFDOUHFRUG
of 81.9 million dwt. During 2008, 2,999 cargo-carrying
FRPPHUFLDOYHVVHOVRI*7DQGDERYHZHUHGHOLYHUHG
a historical record too, and an increase of 7.8 per cent
RYHU
$V UHJDUGV WKH WRQQDJH DQG YHVVHO W\SHV LQ GHOLYHULHV RI RLO WDQNHUV RI GZW DQG DERYH
DFFRXQWHG IRU SHU FHQW RI GHOLYHUHG GZW GU\ EXON
FDUULHUVRIGZWDQGDERYHDFFRXQWHGIRUSHU
FHQW DQG RWKHU YHVVHOV DFFRXQWHG IRU SHU FHQW
the latter category included all kinds of commercial
YHVVHOVRI*7DQGDERYH$VUHJDUGVWKHQXPEHU
RIYHVVHOVSHUFHQWRIWKHYHVVHOVGHOLYHUHGLQ
EHORQJHGWRWKHFDWHJRU\RI³RWKHUYHVVHOV´DVFRPSDUHG
to 15 per cent for large oil tankers and 12 per cent for
ODUJHGU\EXONFDUULHUV,QGHOLYHULHVRIRLOWDQNHUV
UHDFKHGDKLVWRULFDOUHFRUGLQWHUPVRIYHVVHOQXPEHUV
XQLWVRIGZWDQGDERYHDQGDOVRLQWHUPV
RI GHOLYHUHG GHDG ZHLJKW WRQQDJH PLOOLRQ GZW
7KHUHZHUHGU\EXONFDUULHUVGHOLYHUHGLQZLWK
a combined tonnage of 28.9 million dwt. The number
RIRWKHUYHVVHOW\SHVGHOLYHUHG±LQFOXGLQJFDUFDUULHUV
container ships, LNG tankers and general cargo ships –
reached 2,207 units in 2008, with a combined tonnage
of 19.7 million dwt.
'HPROLWLRQRIVKLSV
Although the economic crisis led to a plummeting of
demand for steel, and therefore also a slump in prices
for old ships, the sale of tonnage for demolition still
LQFUHDVHG GUDPDWLFDOO\ 7KH RYHUVXSSO\ RI YHVVHO
capacity was such that shipowners were willing to sell
WKHLUROGHUWRQQDJHHYHQDWYHU\ORZSULFHV
'XULQJWKHODVWWKUHHPRQWKVRIYHVVHOVZHUH
UHSRUWHG WR KDYH OHIW WKH PDUNHW WR EH GHPROLVKHG
WKH FXPXODWLYH WRWDO RI WKH GHPROLWLRQV ZLOO SHUPLW
the recycling of more than 1.7 million tons of metal.
64
'XULQJ WKLV SHULRG VKLSEUHDNLQJ \DUGV LQ ,QGLD ZLWK
YHVVHOVSHUFHQWWREHGHPROLVKHGZHUHDKHDG
RI %DQJODGHVK ZKLFK KDG YHVVHOV SHU FHQW
IROORZHG E\ &KLQD ZLWK YHVVHOV SHU FHQW DQG
3DNLVWDQZLWKYHVVHOVSHUFHQW%DQJODGHVKLVKLS
EUHDNLQJ\DUGVSUHIHUWREX\KLJKWRQQDJHYHVVHOVLQ
WKLVVHQVH%DQJODGHVKZDVDKHDGLQZLWKDWRWDO
of 810,000 tons of metal to be recycled, compared to
,QGLDZLWKWRQV9
'XULQJWKH¿UVWIRXUPRQWKVRIVKLSVZHUH
reported sold for demolition. This compares with a total
RIGXULQJWKHZKROHRI,QGHDGZHLJKWWHUPV
more was scrapped in the four months to April 2009
than in any of the three years between 2005 and 2007.
The total amount scrapped in the period from January
to April 2009 was some 2.9m light displacement tons
OGW$W DQ DYHUDJH SULFH RI SHU OGW WKDW ZRXOG
HTXDWHWRDQDJJUHJDWHYDOXHRIQHDUO\PLOOLRQ10 ,Q
October 2009, it was forecasted that 1,200 ships would
be demolished during 2009.11
/RRNLQJ DW YHVVHOV RI GZW DQG DERYH WKH \HDU
2008 saw a surge in the demolition of dry bulk carriers
PLOOLRQGZW±WKHKLJKHVWOHYHOVLQFH'HPROLWLRQ
of large oil tankers increased too, from 2.2 million dwt in
2007 to 3.6 million dwt in 2008 (table 17).
$VWKHZRUOGÀHHWJHWVROGHUDQGQHZEXLOGLQJVDUH
EXLOW WR ODVW ORQJHU WKH DYHUDJH DJH RI EURNHQXS
VKLSVLQFUHDVHVWRRLQWKHORQJHUWHUP%HWZHHQ
DQGWKHDYHUDJHDJHRIEURNHQXSRLOWDQNHUV
LQFUHDVHGIURP\HDUVWR\HDUVWKHDYHUDJH
age of broken-up dry bulk carriers increased from
WR \HDUV WKH DYHUDJH DJH RI EURNHQXS
container ships increased from 25.5 to 29.1 years,
DQGWKHDYHUDJHDJHRIEURNHQXSJHQHUDOFDUJRVKLSV
LQFUHDVHGIURPWR\HDUVVHHWDEOH,Q
WLPHVRIHFRQRPLFGRZQWXUQKRZHYHUWKHOLNHOLKRRG
of older tonnage being demolished increases, and
WKH DYHUDJH DJH RI RLO WDQNHUV FRQWDLQHU VKLSV DQG
general cargo ships decreased slightly between 2007
and 2008.
7RQQDJHRQRUGHU
:LWKKLVWRULFDOO\KLJKGHPDQGIRUVKLSSLQJFDSDFLW\
until mid-2008, especially for key commodities
such as iron ore, grains and coal, the shipping
industry responded by ordering new tonnage. Until
6HSWHPEHUWKHWRWDOWRQQDJHRQRUGHUZDVVWLOO
increasing, with more than half of the tonnage on order
LQWKHGU\EXONVHFWRU6LQFHWKHHQGRIKRZHYHU
QHZ RUGHUV KDYH SUDFWLFDOO\ FRPH WR D VWDQGVWLOO
especially in container shipping.
Table 17
7RQQDJHUHSRUWHGVROGIRUEUHDNLQJE\YHVVHOW\SH±
PLOOLRQVRIGZWDQGSHUFHQWDJHVKDUHV
<HDUV
0LOOLRQGZW
7DQNHUVa &RPELQHG %XON
FDUULHUVa FDUULHUVa
7RWDODV
3HUFHQWDJHVKDUH
SHUHQWDJH
2WKHUV Total
7DQNHUVa &RPELQHG %XON 2WKHUV Total
RIZRUOG
FDUULHUVa FDUULHUVa
ÀHHW
3.1
22.2
2.7
60.9
4.3
20.8
14.0 100.0
13.5
1.0
4.6
15.7
0.8
8.1
3.2
27.8
3.4
56.5
2.7
29.1
11.7
100.0
18.1
1.6
5.9
4.9
30.5
3.6
59.3
5.2
19.3
16.1
100.0
18.4
0.5
3.3
3.4
25.6
3.0
71.9
2.0
12.9
13.3
100.0
7.8
0.5
0.5
1.8
10.6
1.2
73.6
4.7
4.7
17.0
100.0
4.5
-
0.9
0.9
6.3
0.7
71.4
-
14.3
14.3
100.0
2.7
0.2
1.3
1.8
6.0
0.6
45.0
3.3
21.7
30.0
100.0
2.2
-
0.1
1.9
4.0
0.4
50.0
-
2.5
47.5
100.0
3.6
-
3.1
1.3
8.0
0.7
45.0
-
38.8
16.3
100.0
SRXUFHV: Compiled by the UNCTAD secretariat, on the basis of data from Fearnleys ReviewYDULRXVLVVXHVDQGIURP
Lloyd’s Register – Fairplay.
a
9HVVHOVRYHUGZW
Table 18
$YHUDJHDJHRIEURNHQXSVKLSVE\W\SHWRa
Year
7DQNHUV
28.2
26.2
26.9
28.0
28.3
29.3
29.5
31.5
30.0
31.4
31.1
Dry
&RQWDLQHU
EXON
VKLSV
FDUULHUV
25.2
25.5
25.0
24.8
25.9
25.7
26.7
26.9
26.6
26.0
26.5
25.5
27.3
30.5
28.1
30.6
28.9
28.1
29.1
29.6
30.6
29.1
*HQHUDO
FDUJR
VKLSV
26.7
26.7
27.3
27.4
28.2
29.3
32.9
31.9
32.3
34.9
33.6
6RXUFH:
Compiled by the UNCTAD secretariat, on the
basis of data from the Shipping Statistics and
Market ReviewSURGXFHGE\WKH,QVWLWXWHRI
6KLSSLQJ(FRQRPLFVDQG/RJLVWLFV9ROXPH
QR±WDEOH
6KLSVRI*7DQGRYHU
a
7RQQDJHRQRUGHUDVSHU0DUFKFRQVLVWHGRI
289.8 million dwt of dry bulk carriers (52.5 per cent
of the world total dwt on order), 130.8 million dwt of
oil tankers (23.7 per cent), 13.4 million dwt of general
FDUJRYHVVHOVSHUFHQWPLOOLRQGZWRIFRQWDLQHU
ships (11.9 per cent) and 48.1 million dwt of other
YHVVHOW\SHVSHUFHQW7KHWRWDOWRQQDJHRQRUGHU
VWRRG DW YHVVHOV ZLWK D FRPELQHG FDSDFLW\ RI
551.7 million dwt (see table 19). Figure 16 illustrates
WKHGHYHORSPHQWRIWKHPDLQYHVVHOW\SHVRYHUWKHODVW
eight years.
$OOYHVVHOW\SHVUHDFKHGDSHDNLQGHPDQGEHWZHHQWKH
PLGGOHRIDQGWKHHQGRI,QWHUPVRIYHVVHO
QXPEHUV FRQWDLQHU VKLSV UHDFKHG WKHLU SHDN ¿UVW DW
WKHHQGRIIROORZHGE\RWKHUVKLSVLQWKH¿UVW
quarter of 2008), tankers (in the third quarter of 2008),
and, most recently, bulk carriers and general cargo
VKLSV DW WKH HQG RI %HWZHHQ 'HFHPEHU DQG0DUFKWKHRUGHUERRNGHFOLQHGIRUDOOYHVVHO
W\SHV7KHWRWDOWRQQDJHRQRUGHULQ0DUFKVWRRG
at 551.7 million dwt, which was still 5.5 per cent higher
than a year earlier, but was down 6.1 per cent from the
SHDNRIPLOOLRQGZWLQ6HSWHPEHU
65
3ULFHVRIQHZEXLOGLQJVDQGVHFRQGKDQG
WRQQDJH
1HZEXLOGLQJ SULFHV IRU DOO YHVVHO W\SHV SOXPPHWHG
GXULQJWKH¿UVWTXDUWHURI&RPSDULQJHQGRI\HDU
¿JXUHVSULFHVIRUQHZEXLOGLQJVRIGU\EXONFDUULHUV/3*
tankers and container ships were highest in 2007, while
most new tankers and general cargo ships were more
H[SHQVLYHLQ7KHVWURQJHVWGHFOLQHVEHWZHHQWKH
peak prices and the prices in April 2009 were recorded
for dry bulk carriers and container ships, while prices
IRU /1* DQG /3* WDQNHUV KDYH EHHQ UHODWLYHO\ PRUH
stable (table 20). LNG tankers had already experienced
DSULFHGHFOLQHLQSUHYLRXV\HDUVGXHWRDQRYHUVXSSO\RI
tonnage, as demand grew more slowly than had initially
EHHQSODQQHGZKHQWKHRSHQLQJRIVHYHUDOQHZJDV¿HOGV
was delayed.
7KH PRVW H[SHQVLYH QHZ VKLSV FRQWLQXH WR EH /1*
FDUULHUV ZKLFK LQ$SULO FRVW PLOOLRQ ±
HTXLYDOHQW WR SHU FXELF PHWUH 3ULFHV SHU GZW
GHSHQG KHDYLO\ RQ VKLS VL]HV LPSO\LQJ VLJQLILFDQW
HFRQRPLHV RI VFDOH$W WKH SULFH SHU GZW RQ D
300,000 dwt tanker is only 46 per cent of the price per
GZW RQ D GZW WDQNHU ,Q WKH FDVH RI GU\ EXON
FDUULHUVWKHSULFHSHUGZWRQDGZWYHVVHOLV
ZKLFKUHSUHVHQWVWZRWKLUGVRIWKHSULFHSHUGZW
RQDGZWYHVVHODQGLVWKHORZHVWSULFHSHUGZWRI
DOOVKLSW\SHVLQWKHWDEOH,QWKHFDVHRIFRQWDLQHUVKLSV
it is interesting to note that the price per TEU on the
largest 12,500 TEU ships is not lower than on the smaller
7(8VKLSV$VPRVWUHFHQWQHZRUGHUVKDYHEHHQ
for the largest container ships, which compete with large
dry and liquid bulk carriers for space at the shipyards,
WKHLUSULFHSHU7(8KDVUHPDLQHGUHODWLYHO\KLJKHU
3ULFHVIRUVHFRQGKDQGWRQQDJHÀXFWXDWHPRUHWKDQSULFHV
IRUQHZEXLOGLQJV7KHODWWHUKDYHDKLJKHUÀRRUSULFH
ZKLFKLVGHWHUPLQHGE\WKHYDULDEOHSURGXFWLRQFRVWV
ZKLOHWKHÀRRUSULFHIRUVHFRQGKDQGWRQQDJHLVJLYHQ
E\VFUDSSULFHV%HWZHHQDQGSULFHVIRU¿YH
year-old dry bulk carriers had surged more than sixfold,
UHDFKLQJOHYHOVWKDWZHUHLQIDFWVLJQL¿FDQWO\KLJKHUWKDQ
the corresponding newbuilding prices (see tables 20
DQG,QWKHHFRQRPLFGRZQWXUQVHFRQGKDQGSULFHV
KDYHSOXPPHWHGHYHQPRUHWKDQWKHQHZEXLOGLQJSULFHV
$WWKHHQGRID¿YH\HDUROGGU\EXONFDUULHURI
170,000 dwt was 47 per cent cheaper than a newbuilding,
DQGD¿YH\HDUROGGZWWDQNHUFRVWSHUFHQW
OHVVWKDQWKHFRUUHVSRQGLQJQHZEXLOGLQJ%HWZHHQWKH
end of 2007 and the end of 2008, second-hand prices for
tankers went down by between 15 and 20 per cent, and
66
Table 19
:RUOGWRQQDJHRQRUGHU±a
%HJLQQLQJRIPRQWK
'HFHPEHU
0DUFK
-XQH
6HSWHPEHU
'HFHPEHU
0DUFK
-XQH
6HSWHPEHU
'HFHPEHU
0DUFK
-XQH
6HSWHPEHU
'HFHPEHU
0DUFK
-XQH
6HSWHPEHU
'HFHPEHU
0DUFK
-XQH
6HSWHPEHU
'HFHPEHU
0DUFK
-XQH
6HSWHPEHU
'HFHPEHU
0DUFK
-XQH
6HSWHPEHU
'HFHPEHU
0DUFK
-XQH
6HSWHPEHU
'HFHPEHU
0DUFK
3HUFHQWDJHRIWRWDO
0DUFK
7DQNHUV
%XONFDUULHUV
*HQHUDOFDUJRVKLSV
GZW
6KLSV
$YHUDJH
YHVVHO
VL]H
GZW
GZW
6KLSV
$YHUDJH
YHVVHO
VL]H
GZW
GZW
6KLSV
$YHUDJH
YHVVHO
VL]H
GZW
40 328
44 361
45 123
48 386
51 894
47 836
49 564
47 774
47 591
50 284
55 771
57 856
61 123
62 096
66 652
66 969
71 563
68 667
70 520
68 741
70 847
83 385
93 277
106 912
118 008
120 819
122 429
124 758
124 845
128 128
142 333
151 423
140 504
130 777
284
319
339
381
399
404
425
431
488
515
540
580
631
615
649
661
701
679
686
693
724
791
887
987
1 078
1 113
1 107
1 149
1 134
1 139
1 202
1 245
1 154
1 088
142 001
139 061
133 105
126 998
130 060
118 405
116 622
110 845
97 523
97 639
103 279
99 752
96 867
100 969
102 699
101 314
102 087
101 129
102 799
99 193
97 855
105 417
105 160
108 321
109 470
108 553
110 595
108 580
110 093
112 492
118 413
121 625
121 754
120 200
31 208
27 221
26 103
21 944
22 184
19 027
18 132
18 869
28 641
32 019
33 408
41 499
46 732
48 761
50 545
52 768
62 051
63 404
65 326
63 495
66 614
63 829
69 055
73 226
79 364
100 256
143 795
183 574
221 808
243 600
262 452
288 959
292 837
289 763
486
439
400
337
353
300
283
283
391
441
455
575
640
671
696
703
796
792
801
788
805
784
859
898
988
1 204
1 657
2 137
2 573
2 804
3 009
3 316
3 347
3 303
64 214
62 007
65 258
65 115
62 845
63 425
64 069
66 676
73 251
72 605
73 425
72 172
73 019
72 670
72 623
75 061
77 953
80 055
81 556
80 578
82 750
81 415
80 390
81 543
80 328
83 269
86 781
85 903
86 206
86 876
87 222
87 141
87 492
87 727
3 966
3 963
4 154
3 967
3 826
3 758
3 932
3 979
2 832
2 958
2 592
2 841
3 068
3 021
2 838
2 921
3 306
3 312
4 079
4 777
5 088
5 798
7 370
7 602
8 004
9 561
10 782
12 042
13 360
15 097
15 911
16 787
17 849
17 439
446
441
419
393
372
357
353
369
257
263
250
269
295
312
317
323
370
388
456
521
584
634
683
715
737
843
885
956
1 035
1 195
1 255
1 332
1 374
1 363
8 892
8 986
9 914
10 094
10 286
10 525
11 139
10 782
11 018
11 249
10 368
10 562
10 400
9 683
8 954
9 043
8 935
8 536
8 945
9 170
8 712
9 145
10 791
10 632
10 860
11 342
12 184
12 597
12 908
12 633
12 678
12 603
12 991
12 795
23.7
9.9
52.5
30.0
3.2
12.4
67
&RQWDLQHUYHVVHOV
2WKHUVKLSV
%HJLQQLQJRIPRQWK
Total
GZW
6KLSV
$YHUDJH
YHVVHO
VL]H
GZW
GZW
6KLSV
$YHUDJH
YHVVHO
VL]H
GZW
GZW
6KLSV
$YHUDJH
YHVVHO
VL]H
GZW
16 140
17 350
18 393
16 943
16 550
14 476
14 793
14 509
13 000
16 281
18 296
27 216
30 974
35 840
38 566
41 172
43 904
49 624
53 605
52 378
50 856
49 749
53 876
54 676
51 717
55 144
63 063
76 804
78 348
78 042
76 388
74 090
69 593
65 610
394
435
441
413
393
355
362
338
296
326
367
503
580
658
724
808
880
1 006
1 101
1 132
1 124
1 130
1 185
1 199
1 143
1 229
1 305
1 412
1 435
1 419
1 352
1 322
1 209
1 121
40 964
39 884
41 708
41 025
42 111
40 776
40 865
42 927
43 919
49 943
49 853
54 107
53 403
54 468
53 268
50 956
49 891
49 328
48 688
46 271
45 245
44 026
45 465
45 601
45 247
44 869
48 324
54 394
54 598
54 998
56 500
56 044
57 563
58 528
8 870
10 154
11 790
12 181
13 501
12 839
15 415
15 342
16 174
16 199
17 085
18 062
19 277
20 068
22 833
24 368
27 361
27 328
29 884
31 209
33 147
36 750
39 768
42 322
45 612
49 245
52 382
56 767
56 947
58 304
57 574
56 563
52 088
48 131
1 087
1 132
1 138
1 153
1 201
1 200
1 324
1 292
1 386
1 365
1 367
1 484
1 492
1 520
1 682
1 714
1 898
1 940
2 002
2 158
2 285
2 373
2 522
2 714
2 962
3 327
3 562
3 864
3 876
4 174
4 302
4 442
4 256
4 117
8 160
8 970
10 360
10 564
11 242
10 700
11 643
11 875
11 669
11 868
12 498
12 171
12 920
13 203
13 575
14 217
14 416
14 087
14 927
14 462
14 506
15 487
15 768
15 594
15 399
14 802
14 706
14 691
14 692
13 968
13 383
12 734
12 239
11 691
100 513
103 048
105 563
103 421
107 955
97 936
101 836
100 473
108 238
117 742
127 152
147 475
161 174
169 786
181 434
188 198
208 185
212 335
223 414
220 600
226 551
239 512
263 347
284 738
302 706
335 025
392 451
453 945
495 309
523 171
554 657
587 823
572 871
551 720
2 697
2 766
2 737
2 677
2 718
2 616
2 747
2 713
2 818
2 910
2 979
3 411
3 638
3 776
4 068
4 209
4 645
4 805
5 046
5 292
5 522
5 712
6 136
6 513
6 908
7 716
8 516
9 518
10 053
10 731
11 120
11 657
11 340
10 992
37 268
37 255
38 569
38 633
39 719
37 437
37 072
37 034
38 409
40 461
42 683
43 235
44 303
44 965
44 600
44 713
44 819
44 190
44 275
41 686
41 027
41 931
42 918
43 718
43 820
43 420
46 084
47 693
49 270
48 753
49 879
50 427
50 518
50 193
11.9
10.2
8.7
37.5
100.0
100.0
'HFHPEHU
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6HSWHPEHU
'HFHPEHU
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6HSWHPEHU
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a
68
Figure 16
:RUOGWRQQDJHRQRUGHU±a
Thousand deadweight tonnes
350 000
300 000
Dry bulk
250 000
200 000
150 000
Oil tankers
100 000
Container ships
50 000
12/2000
03/2001
06/2001
09/2001
12/2001
03/2002
06/2002
09/2002
12/2002
03/2003
06/2003
09/2003
12/2003
03/2004
06/2004
09/2004
12/2004
03/2005
06/2005
09/2005
12/2005
03/2006
06/2006
09/2006
12/2006
03/2007
06/2007
09/2007
12/2007
03/2008
06/2008
09/2008
12/2008
03/2009
General cargo
0
6RXUFH:
6KLSVRI*7DQGDERYH
a
second-hand prices for dry bulk carriers went down by
between 67 and 71 per cent.
VXEVWDQWLDOFRQWDLQHUWUDI¿FYROXPHVDQGVKLSEXLOGLQJ
\DUGVLVVHWWREHDPRQJWKHFRXQWULHVPRVWVHYHUHO\
affected by the economic crisis.12
$GMXVWLQJWRWKHHFRQRPLFFULVLV
6HYHUDO GHYHORSLQJ DQG WUDQVLWLRQ HFRQRPLHV ZLOO EH
VHYHUHO\ LPSDFWHG E\ WKH GRZQWXUQ LQ GHPDQG IRU
VKLSSLQJ VHUYLFHV 6KLSEXLOGLQJ FRXQWULHV VXFK DV WKH
5HSXEOLFRI.RUHD&KLQDDQG9LHW1DPZLOOEHDEUXSWO\
affected by cancellations of existing orders and the drying
up of new orders. The strongest impacts will probably
EHRQWKRVHHFRQRPLHVWKDWDOVRKDYHFRQWURORYHUODUJH
ÀHHWV7KHWRS¿YHVKLSRZQLQJGHYHORSLQJHFRQRPLHV
DUH &KLQD +RQJ .RQJ &KLQD 7DLZDQ 3URYLQFH
RI &KLQD WKH 5HSXEOLF RI .RUHD DQG 6LQJDSRUH VHH
DOVRWDEOH7DNLQJLQWRDFFRXQWFRQWDLQHUL]HGGU\
bulk and tanker tonnage, these three economies control
DURXQGSHUFHQWRIWKHZRUOG¶VPHUFKDQWÀHHW7KH
5HSXEOLFRI.RUHDLQSDUWLFXODUZLWKLWVODUJHÀHHWRIGU\
bulk carriers, container ships and oil tankers, as well as
The supply of maritime transport capacity can only
VORZO\ DGMXVW WR FKDQJHV LQ GHPDQG %HWZHHQ WKH
RUGHULQJRIDQHZYHVVHODQGLWVGHOLYHU\WZRWRWKUHH
years may pass. As long as demand is high, shipowners
WHQG WR RUGHU QHZ YHVVHOV LQ VSLWH RI HDUO\ ZDUQLQJV
WKDW HYHQ LI GHPDQG FRQWLQXHV WR JURZ WKH VXUJH LQ
QHZWRQQDJHZLOOLQYDULDEO\OHDGWRDQRYHUVXSSO\RI
WRQQDJH(YHQZLWKRXWWKHFXUUHQWHFRQRPLFFULVLVWKH
tonnage that entered the market in 2007 and 2008 plus
WKHWRQQDJHVFKHGXOHGWREHGHOLYHUHGLQDQG
E\WKHZRUOG¶VVKLS\DUGVZRXOGLQDQ\FDVHKDYHOHGWR
DQRYHUVXSSO\RIWRQQDJHDQGDFRUUHVSRQGLQJGHFOLQH
LQYHVVHOSULFHV
,QWKHFDVHRIFRQWDLQHUVKLSVIRUH[DPSOHWKHGHOLYHU\
RISUHYLRXVO\RUGHUHGWRQQDJHLVIRUHFDVWWROHDGWRDQ
69
Table 20
Representative newbuilding prices in selected years
(millions of dollars, end-of-year figures)
Type and size of vessela
1985 1990 1995 2000 2005 2006 2007 2008 April Percentage Percentage
2009
change
change
2008/ 2007 April 09/
Dec. 08
11
24
25
20
28
31
39
36
29
-7.7
-19.4
45,000 dwt dry bulk carrier
14
32
29
23
35
40
54
42
37
-22.2
-11.9
27
45
40
40
59
70
97
89
72
-8.2
-19.1
45,000 dwt tanker
18
29
34
29
43
47
52
48
42
-7.7
-12.5
110,000 dwt tanker
22
42
43
41
58
81
72
76
65
5.6
-14.5
300,000 dwt tanker
47
90
85
76
120
130
145
151
130
4.1
-13.9
200
225
245
165
205
220
220
245
235
11.4
-4.1
78,000 m3 LPG
44
78
68
60
89
92
93
90
85
-3.2
-5.6
20,000 dwt general cargo
12
24
21
19
18
24
25
40
30
60.0
-25.0
2,500 TEU full container ship
26
52
50
35
42
46
66
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
130
70
48
-46.2
-31.4
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
160
130
110
-18.8
-15.4
12,500 TEU full container ship n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
165
150
n.a.
-9.1
150,000 m3 LNG
Source: Compiled by the UNCTAD secretariat, on the basis of data from Lloyd’s Shipping Economist, various issues.
a
Note: Vessel sizes refer to the years 2005–2009 and do not always coincide completely in the case of earlier
years.
Table 21
Second-hand prices for five-year-old ships, 2000–2008
(millions of dollars, end-of-year figures)
Type and size of
vessel
2000
2001
2002
2003
2004
2005
2006
2007
2008
Percentage
change
2008/2007
40,000 dwt tankers
27.00
25.50
24.00
28.00
40.00
45.00
47.50
50.00
42.50
-15.0
95,000 dwt tankers
39.00
33.00
30.00
38.00
57.00
59.50
66.00
68.00
57.40
-15.6
150,000 dwt tankers
50.00
43.00
42.00
48.00
74.00
76.00
85.00
95.00
76.00
-20.0
300,000 dwt tankers
71.00
60.00
53.00
75.00 107.00 108.00 121.00 130.00 110.00
-15.4
52,000 dwt
dry bulk carrier
15.00
12.00
15.00
20.50
30.00
26.50
40.50
75.50
25.00
-66.9
70,000 dwt dry
bulk carrier
16.00
13.50
17.00
28.00
41.00
30.00
46.00
91.50
27.00
-70.5
170,000 dwt
dry bulk carrier
25.00
25.00
29.00
46.00
65.00
58.00
81.00 152.00
47.00
-69.1
Source: Compiled by the UNCTAD secretariat, on the basis of data supplied by Fearnleys Review, various issues.
70
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\HDUV0RVWRIWKHJURZWKLVRQDFFRXQWRIVKLSVODUJHU 1RYHPEHUDQGIRUFRQWDLQHUVKLSVVLQFH2FWREHU
WKDQ7(8LIDOORUGHUVDUHFRQ¿UPHGVHHDOVRWKH ,Q 0DUFK RQH QHZ RUGHU IRU D FUXGH RLO
discussion on adjustment to the economic crisis), this tanker was reported.17
YHVVHOVL]HUDQJHZRXOGJURZE\DVWDJJHULQJSHUFHQW
per year until the end of 2013.13,QVSLWHRIWKHSOXQJH /RRNLQJDWVKLSEXLOGLQJLQGHYHORSLQJFRXQWULHVWKH¿UVW
LQ GHPDQG GHOLYHULHV IRU WKH QH[W ¿YH \HDUV DUH WKXV half of 2009 yielded hardly any newbuilding contracts
H[SHFWHGWRHTXDORURXWSDFHGHOLYHULHVLQWKHUHFRUG\HDU LQWKH5HSXEOLFRI.RUHD,QSDUWLFXODU+\XQGDL+HDY\
RIWKH7(8FDSDFLW\RIWKHQHZFRQWDLQHUVKLSV ,QGXVWULHV±WKHZRUOG¶VELJJHVWVKLSEXLOGHU±GLGQRW
WREHGHOLYHUHGGXULQJWKHQH[W¿YH\HDUVFRUUHVSRQGV VHFXUH D VLQJOH RUGHU 0HDQZKLOH 6DPVXQJ +HDY\
WR DURXQG SHU FHQW RI WKH FXUUHQW ÀHHW 8WLOL]DWLRQ ,QGXVWULHV KDG MXVW D VLQJOH RUGHU IRU DQ /1* WDQNHU
RIWKHÀHHWRI/1*WDQNHUVLVHVWLPDWHGDWWRSHU ,Q&KLQDWKHVKLSEXLOGLQJVHFWRUDWWUDFWHGRUGHUVDWD
FHQWDVPDQ\VKLSVZHUHGHOLYHUHGDKHDGRIWKHSURMHFWV OHYHOSHUFHQWORZHUWKDQGXULQJWKHVDPHSHULRGLQ
IRU ZKLFK WKH\ KDG EHHQ LQWHQGHG WKH RYHUVXSSO\ LV 2008.18
forecast to decline during the next years up to 2012,
as delayed liquefaction projects come on stream.14 The 'HPROLWLRQV
FXUUHQWRUGHUERRNRIGU\EXONYHVVHOVVWDQGVDWSHU
FHQW RI WKH H[LVWLQJ ÀHHW15 Charter and freight rates 6RPHDQDO\VWVH[SHFWVKLSVFUDSSLQJWREHRQHRIWKH
VHHFKDSWHUDQGYHVVHOSULFHVVHHWDEOHVDQG IHZVKLSSLQJUHODWHGEXVLQHVVHVWKDWPD\EHQH¿WIURP
UHDFW LPPHGLDWHO\ WR D FKDQJH LQ WKH GHPDQGVXSSO\ the economic crisis: “The ship-recycling industry is now
EDODQFH7KHVXSSO\RIFDSDFLW\KRZHYHUUHDFWVPXFK experiencing its largest growth period in history, after the
PRUHVORZO\*LYHQWKHVWLOOJURZLQJWUDQVSRUWFDSDFLW\ ¿QDQFLDOFULVLVVDZUDWHVIRUPDQ\YHVVHOW\SHVFROODSVH
DV QHZ VKLSV FRQWLQXH WR EH GHOLYHUHG E\ WKH ZRUOG¶V :LWK D WKUHHIROG LQFUHDVH LQ VKLSVFUDSSLQJ H[SHFWHG
VKLS\DUGVWKHLQGXVWU\KDV¿YHZD\VWRDGMXVWWKHVXSSO\ globally this year, and more than 1,000 ships destined
for the breakers’ yards, there are
to a decline in demand. Firstly, it may
now fears that existing yards cannot
VWRSRUGHULQJQHZWRQQDJH6HFRQGO\ «WKHGHPROLWLRQRIH[LVWLQJ
LW PD\ GHPROLVK YHVVHOV 7KLUGO\ LW WRQQDJHZLOOQRWEHHQRXJKWR handle the workload.”19 +RZHYHU
the demolition of existing tonnage
may, to some extent, terminate orders FRPSHQVDWHIRUWKHGRZQWXUQ
will not be enough to compensate
DW WKH VKLS\DUGV )RXUWKO\ YHVVHOV LQGHPDQGDQGIRUWKHQHZ
for the downturn in demand and for
may slow steam, thus reducing the WRQQDJHWKDWLVVWLOOOHDYLQJ
WKHQHZWRQQDJHWKDWLVVWLOOOHDYLQJ
HIIHFWLYH FDSDFLW\ VXSSOLHG E\ WKH WKHZRUOG¶VVKLS\DUGV
the world’s shipyards. Prices for
H[LVWLQJÀHHW$QG¿QDOO\WKHLQGXVWU\
VFUDSPHWDODUHFXUUHQWO\YHU\ORZ
may temporarily withdraw existing
DQGPDQ\YHVVHORZQHUVSUHIHUWRKROGRQDQGOD\RII
WRQQDJHIURPVHUYLFH
their ships, hoping for better times to come. Demolition
GXULQJWKH¿UVW¿YHPRQWKVRIDPRXQWHGWRRQO\
Withholding of new orders
SHUFHQWRIWKHZRUOGÀHHWVWLOOEHORZWKHGHPROLWLRQ
2UGHUVRIQHZVKLSVKDYHSUDFWLFDOO\FRPHWRDVWDQGVWLOO OHYHOVRIWKH±SHULRG20
,Q0DUFKRQO\QHZRUGHUVIRUVKLSVODUJHUWKDQ
1,000 GT were recorded – a further reduction from the 7HUPLQDWLRQDQGUHVFKHGXOLQJRIRUGHUV
DOUHDG\ORZ¿JXUHRIQHZFRQWUDFWVLQ-DQXDU\
7KHDQQXDOL]HGDYHUDJHZDVHVWLPDWHGDWFRQWUDFWV 6LQFHWKHEHJLQQLQJRIWKHHFRQRPLFFULVLVQXPHURXV
which was 96 per cent below the peak of new orders RUGHUVDWWKHZRUOG¶VVKLS\DUGVKDYHEHHQFDQFHOOHG
in July 2007. The global order book itself contained 7KHVSHFLDOL]HGSUHVVUHSRUWVD³GHDUWKRIQHZRUGHUV
10,341 ships larger than 1,000 GT as of 7 April 2009 (…), with the renegotiation of existing contracts
± GRZQ RQ WKH SUHYLRXV PRQWK ± IROORZLQJ WKH now taking up more time for shipbuilders than new
YLUWXDODEVHQFHRIDQ\FRQWUDFWLQJDFWLYLW\16 Looking at enquiries.”21$FWLYLW\LQWKHFRQWDLQHUVKLSQHZEXLOGLQJ
GLIIHUHQWYHVVHOW\SHVQHZRUGHUVIRUGU\EXONFDUULHUVLQ market focuses “primarily on the restructuring of the
0DUFKZHUHDWWKHLUORZHVWOHYHOVLQFHDQG existing order book, as possible cancellations and
new orders for general cargo ships were at their lowest renegotiations of existing deals become an increasing
UHFRUGHGOHYHOVLQFHWKHV7KHUHKDYHEHHQQRQHZ issue, and yards are yet to fully address their pricing
RUGHUVIRUYHKLFOHFDUULHUVVLQFH)HEUXDU\IRU/3* ideas. (…) One change that is becoming apparent
71
since the beginning of the year is that yards seem to
be becoming more sympathetic to owners’ problems,
DV WKH\ EHJLQ WR UHDOL]H WKDW D SURDFWLYH DSSURDFK WR
VROYLQJWKHVHLVVXHVFRXOGSUHYHQWWKHPIURPEHFRPLQJ
problems for the yard.”22
One example of the renegotiation of a newbuilding
FRQWUDFW LQYROYHV D IRXUYHVVHO RUGHU E\ D (XURSHDQ
EDVHGVKLSRZQHUDWD&KLQHVHIDFLOLW\WKHDPHQGHGRUGHU
UHGXFHVWKHFRQWUDFWWRWKUHHYHVVHOVDQGFDOOVIRUDGHOD\
LQWKHGHOLYHU\RIWZRRIWKHUHPDLQLQJXQLWVE\DURXQG
three months. An Athens-based company has disclosed
GHWDLOVRIWKHVL[PRQWKGHOD\LQWKHGHOLYHU\RIQHZ
container ships that it has on order in China and the
5HSXEOLFRI.RUHD$&DQDGLDQFRPSDQ\KDVFRQ¿UPHG
that it has entered into an option agreement to delay the
GHOLYHU\RIVKLSVLQLWVQHZEXLOGLQJEDFNORJ$GU\
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WR KDYH FDQFHOOHG DQ RUGHU IRU HLJKW EXON FDUULHUV RI
37,000 dwt in China.23 Table 22 describes in the detail the
situation of newbuilding contract terminations towards
WKHPLGGOHRI,QWRWDOEHWZHHQ-DQXDU\DQG
the middle of 2009, there were 440 deductions recorded
from the current order book, including failed orders,
contractual cancellations, and delays and terminations
by mutual agreement.
6LQFHHDUO\WKHUHKDYHEHHQIDLOHGFRQWUDFWV
7KHVHUHIHUWRVLJQHGFRQWUDFWVWKDWKDYHIDLOHGWREHFRPH
HIIHFWLYH7KH\DOVRLQFOXGHWHUPLQDWHGRUGHUVbetween
Table 22
1HZEXLOGLQJFRQWUDFWWHUPLQDWLRQVa
FRPSHQVDWHGJURVVWRQV&*7DQGQXPEHUVRIYHVVHOVb c
<HDURI )DLOHG
GHOLYHU\ FRQWUDFWV
(IIHFWLYHFRQWUDFWV
&DQFHOOHGFRQWUDFWV
5HPDLQHG 5HPRYHG
7HUPLQDWHGE\
PXWXDODJUHHPHQW
Total
Total
'HGXFWLRQDV
GHGXFWLRQ RUGHUERRN DSHUFHQWDJH
SULRUWR
RIRUGHU
GHGXFWLRQV
ERRN
5HPDLQHG
5HPRYHG
23 454
(1)
-
635 211
(31)
722 994
2 117 261
(142)
3 088 112
41 147 183
(2 235)
55 406 702
5.15%
6.35%
5.57%
(34)
(154)
(2 628)
5.86%
2 490 121
(119)
476 316
42 452 134
(1 827)
14 085 154
5.87%
6.51%
3.38%
1 094 445
(71)
2 317 092
14 377
(1)
-
387 605
(40)
48 026
(113)
-
(-7)
2 079 747
(91)
313,336
-
-
-
48 026
(7)
18 621
-
362 348
(21)
144 359
(14)
-
(2)
-
(8)
(24)
(554)
4.33%
-
-
-
-
-
-
-
-
23 615
(1)
-
23 615
(1)
-
0.92%
0.95%
0%
0%
5 804 620
14 377
502 278
23 454
1 888 527
8 195 425
(289)
(1)
(56)
(1)
(95)
(440)
2 572 057
(105)
464,153
(15)
156 127
383
(7 364)
Total
5.25%
5.98%
6RXUFH :RUOG\DUGVFRPDYDLODEOHDWKWWSZZZZRUOG\DUGVFRP-XQH
a
Recorded between 1 January 2008 and 12 June 2009.
b
&RPSHQVDWHGJURVVWRQVDUHDPHDVXUHPHQWRIVKLSEXLOGLQJYROXPHV7KHJURVVWRQV*7DUHDGMXVWHGIRU
GLIIHUHQWYHVVHOW\SHVDQGVKLSVL]HV)RUGHWDLOHGFDOFXODWLRQVVHH2(&'³&RPSHQVDWHGJURVVWRQ
&*7V\VWHP´DYDLODEOHDWKWWSZZZRHFGRUJGDWDRHFGSGI
c
1XPEHURIYHVVHOVLQEUDFNHWV
72
shipbuilders and shipowning companies which are
controlled by the same ultimate interests. During
the same period, there were 56 cancelled orders,
LHHIIHFWLYHFRQWUDFWVWKDWZHUHFDQFHOOHGOHJLWLPDWHO\
RU DEDQGRQHG E\ ZD\ RI GHIDXOWV ,Q RQH FDVH WKH
shipyard decided to continue with construction in
spite of the cancellation from the shipowner. Ninety¿YH RUGHUV ZHUH WHUPLQDWHG E\ PXWXDO DJUHHPHQW
These resulted from an agreement between buyer
DQG VKLS\DUG WR QHJDWH DQ HIIHFWLYH VKLSEXLOGLQJ
FRQWUDFW HVSHFLDOO\ FRQWUDFWV IRU GHOLYHU\ LQ WKH
distant future. The buyers would normally agree to
pay the shipbuilders some compensation. Among
the contracts terminated by mutual agreement, there
was one case where the shipyard decided to continue
with construction in spite of the cancellation by the
buyer.
:KLOHVKLSRZQHUV¶ODZ\HUVWU\WR¿QGFODXVHVWKDWDOORZ
for the termination of orders without penalty, shipyards’
lawyers work hard to make sure that companies that
KDYHRUGHUHGQHZYHVVHOVVWLFNWRWKHLUFRPPLWPHQWV,Q
the long term, there is a common interest between both
SDUWLHVWRUHGXFHWKHYRODWLOLW\RIWKHVKLSEXLOGLQJF\FOH
ERWKVLGHVVKRXOGDLPDERYHDOODWSRVWSRQLQJH[LVWLQJ
RUGHUV6RIDUGXULQJWKHPRQWKVWRPLGD
WRWDO RI RUGHUV KDYH EHHQ GHOD\HG RU SRVWSRQHG
by mutual agreement, including 59 orders for tankers
(corresponding to 3.0 million dwt), 72 orders for dry
bulk carriers (9.5 million dwt), 94 orders for container
VKLSV7(8DQGRUGHUVIRURWKHUYHVVHO
W\SHV,QWRWDOWKLVFRUUHVSRQGVWRSHUFHQWRIWKH
existing order book.24
6ORZVWHDPLQJDQGRWKHUIRUPVRIUHGXFLQJWKH
HIIHFWLYHVXSSO\
5HGXFLQJWKHVHUYLFHVSHHGRIYHVVHOVKDVWZRSRVLWLYH
impacts. Firstly, it helps to reduce emissions of
greenhouse gases, and secondly, it absorbs some of the
H[LVWLQJVKLSSLQJRYHUFDSDFLW\,WKDVEHHQHVWLPDWHG
that “owners could cope with up to 10–15 per cent
RYHUFDSDFLW\ WKURXJK VORZ VWHDPLQJ´25 +RZHYHU
VORZ VWHDPLQJ KDV REYLRXV QHJDWLYH VLGHHIIHFWV ±
DERYH DOO RQ WKH VSHHG RI VHUYLFH EXW DOVR RQ WKH
shipboard machinery and other components, which
are designed for higher speeds and suffer from higher
ZHDUDQGWHDULIQRWXWLOL]HGRSWLPDOO\,QWKHFDVHRI
VRPHYHVVHOW\SHVVKLSVFDQEHXWLOL]HGIRUVWRUDJH
e.g. car carriers or tankers, but this, too, is only a
WHPSRUDU\VROXWLRQWRRYHUVXSSO\
:LWKGUDZDOIURPVHUYLFH
$VUHJDUGVWKHLGOHFRQWDLQHUVKLSÀHHWYHVVHOV
were reported as idle by the end of April 2009. The
LGOH ÀHHW VWDQGV DW PLOOLRQ 7(8 UHSUHVHQWLQJ
SHU FHQW RI WKH FDSDFLW\ ,Q SDUWLFXODU QRQ
RSHUDWLQJRZQHUV¿QGWKHPVHOYHVREOLJHGWROD\XS
VKLSV8QOLNHRSHUDWLQJRZQHUVWKH\KDYHQRZD\WR
employ their ships if no charterers are found.26 Laidup dry bulk tonnage increased by 73 per cent between
0DUFKDQG0DUFK27
The following chapter will examine the supply and
GHPDQGEDODQFHRIWKHZRUOGÀHHWLQJUHDWHUGHWDLO
ENDNOTES
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10
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QRWDOZD\VFRLQFLGHDVVRPHVRXUFHVLQFOXGHVPDOOHUVKLSVZKHUHDVRWKHUVRQO\LQFOXGHYHVVHOVRIGZWDQG
DERYH$OVRVRPHVKLSVPD\EHVROGLQRQHSHULRGDQGWKHQEHGHPROLVKHGLQDODWHUPRQWK
11
Lloyd’s List. 30 October 2009.
12
81&7$'7UDQVSRUW1HZVOHWWHUQR¿UVWTXDUWHU
13
Fairplay Shipping Weekly0D\
14
Lloyd’s List. 30 April 2009.
15
&ODUNVRQ'U\%XON7UDGH2XWORRN. April 2009.
16
Fairplay Shipping Weekly. 23 April 2009.
17
Fairplay Shipping Weekly. 2 July 2009.
18
Fairplay Shipping Weekly. 30 April 2009.
19
Lloyd’s List1RYHPEHU
20
:RUOG\DUGVFRPDYDLODEOHDWKWWSZZZZRUOG\DUGVFRP-XQH
21
22
Container Intelligence Monthly0DUFK
23
24
:RUOG\DUGVFRPDYDLODEOHDWKWWSZZZZRUOG\DUGVFRP-XQH
25
Lloyd’s List-XQH7KHVSHFL¿FH[DPSOHUHIHUVWRRLOWDQNHUV
26
Data from Alphaliner, as reported by Containerisation International Online0D\
27
&ODUNVRQ'U\%XON7UDGH2XWORRN. April 2009.
Chapter 3
PRODUCTIVITY OF THE WORLD FLEET, AND SUPPLY
AND DEMAND IN WORLD SHIPPING
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OPERATIONAL PRODUCTIVITY
$VWKHSRVLWLYHJURZWKLQWKHVXSSO\RIWKHÀHHWSHU
FHQWLQFRPSDUHGWRZDVGRXEOHWKHJURZWKLQ
WRWDOVHDERUQHWUDGHZKLFKLVHVWLPDWHGDWSHUFHQW
productivity in 2008 measured in tons of cargo carried
SHUGHDGZHLJKWWRQGZWGHFUHDVHGIXUWKHUFRPSDUHGWR
WKH¿JXUHVVHHWDEOHVDQGDQG¿JXUHV
DQG7KHJOREDODYHUDJHYROXPHRIFDUJRSHU Productivity in terms of tons carried per dwt of oil
FDUU\LQJFDSDFLW\GHFUHDVHGDQGWKHDYHUDJHVKLSZDV WDQNHUVGHFUHDVHGSHUFHQWIURPLQWR
LQ IRU GU\ EXON LW GHFUHDVHG
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FRPSDUHG WR WLPHV LQ DQG WKH FDUJR YROXPHV FDUULHG E\
'XULQJWKHVDPH\HDUWKHWRQPLOHV Productivity in terms of tons
carried
per
dwt
of
oil
tankers
WKH UHVLGXDO ÀHHW GHFUHDVHG SHU
performed per deadweight ton
decreased 4.7 per cent …
FHQW IURP WR WRQV SHU
decreased too: the average dwt of
GZW WDEOH 7KH SURGXFWLYLW\ RI
FDUJRFDUU\LQJFDSDFLW\WUDQVSRUWHG
RQHWRQRIFDUJRRYHUDGLVWDQFHRIQDXWLFDOPLOHV WKH UHVLGXDO ÀHHW ZKLFK LQFOXGHV FRQWDLQHU VKLSV DQG
JHQHUDO FDUJR FDUULHUV LV LQ SUDFWLFH KLJKHU WKDQ WKDW
NPLQRUNPSHUGD\
RIOLTXLGDQGGU\EXONFDUULHUVDVWKHODWWHURIWHQKDYH
%DVHGRQWKHGDWDIRUWKHZRUOGÀHHWIRU-DQXDU\ empty return voyages after the oil or iron ore is delivered
DQGWKHIRUHFDVWHGWRQPLOHVIRUWKH\HDUWKHSURGXFWLYLW\ DWGHVWLQDWLRQ/LQHUVKLSSLQJFRPSDQLHVKRZHYHUZLOO
RIWKHZRUOGÀHHWLVH[SHFWHGWRIXUWKHUGHFOLQHWRYDOXHV XVXDOO\FDUU\DWOHDVWVRPHFDUJRLQERWKGLUHFWLRQVRI
EHORZWRQPLOHVLQ¿J7KHIXQGDPHQWDO WKHLUURXWH
reason for the decline in average productivity in recent
\HDUVLVWKHRYHUVXSSO\RIWRQQDJHDYDLODEOHVHHDOVR ,QGLFDWLYHGDWDRQWRQPLOHVSHUIRUPHGE\RLOWDQNHUV
FKDSWHUZKLFKFRQWUDVWVZLWKWKHUHGXFHGJURZWKLQ GU\ EXON FDUULHUV DQG WKH UHVLGXDO ÀHHW DUH SURYLGHG
75
76
Table 23
Cargo carried and ton-miles performed per deadweight ton (dwt) of the total world fleet,
selected years
Year
1970
1980
1990
2000
2006
2007
2008
World fleet
(millions
of dwt,
beginning
of year)
326
683
658
799
960
1 042
1 118
Total cargo
(millions
of tons)
2 566
3 704
4 008
5 983
7 545
7 882
8 168
Total ton-miles
performed
(thousands of
millions of
ton-miles)
10 654
16 777
16 440
22 927
30 058
31 425
32 746
Tons
carried
per dwt
Thousands of
ton-miles
performed
per dwt
7.9
5.4
6.1
7.5
8.0
7.6
7.3
32.7
24.6
25.0
28.7
31.3
30.1
29.3
Sources: Calculated by the UNCTAD secretariat, on the basis of UNCTAD data on seaborne trade (tons); Lloyd’s Register
– Fairplay (world fleet in dwt); and Fearnleys Review, various issues (ton-miles).
Table 24
Estimated productivity of tankers, bulk carriers and the residual fleet,a selected years
(tons carried per dwt)
Year
1970
1980
1990
2000
2006
2007
2008
Oil cargo
(millions
of tons)
1 442
1 871
1 755
2 163
2 648
2 705
2 749
Tanker
Tons Main dry Dry bulk
Tons All other Residual
Tons
fleet
carried bulks
fleet
carried
dry
fleeta
carried per
(millions
per
(millions (millions per dwt cargoes (millions dwt of the
of dwt,
dwt of of tons)
of dwt,
of bulk (millions of dwt,
residual
beginning tankers
beginning carriers of tons) beginning
fleeta
of year)
of year)
of year)
148
339
246
282
354
383
408
9.74
5.51
7.14
7.66
7.48
7.06
6.74
448
796
968
1 288
1 888
2 013
2 097
72
186
235
276
346
368
391
6.21
4.29
4.13
4.67
5.46
5.48
5.36
676
1 037
1 285
2 532
3 009
3 164
3 322
106
158
178
240
260
292
319
6.38
6.57
7.23
10.53
11.58
10.84
10.41
Source: Calculated by the UNCTAD secretariat, based on UNCTAD data on seaborne trade (tons), and Lloyd’s Register
– Fairplay (world fleet).
a
The residual fleet refers to general cargo, container ships and other vessels included in annex III (b).
3 - Productivity of the World Fleet, and Supply and Demand in World Shipping
77
7DEOH
(VWLPDWHGSURGXFWLYLW\RIWDQNHUVEXONFDUULHUVDQGWKHUHVLGXDOÀHHWa selected years
(thousands of ton-miles performed per dwt)
Year
1970
1980
1990
2000
2006
2007
2008
Ton-miles Tanker
Tonof oil
ÀHHW
miles
(thousands (beginning per
of millions) of year) b dwt of
tankers
282
Ton-miles Dry bulk Ton-miles
of dry
ÀHHW
per dwt
bulk cargo (beginning of bulk
(thousands of year) b carriers
of millions)
Ton-miles Residual Ton-miles
of other
ÀHHW
per dwt
dry cargo (beginning of the
(thousands
of
residual
b
of millions) year)
ÀHHW
Source &DOFXODWHGE\WKH81&7$'VHFUHWDULDWRQWKHEDVLVRIGDWDIURP)HDUQOH\V Review, various issues; World Bulk
Trades and World Bulk FleetYDULRXVLVVXHVWRQPLOHVDQG/OR\G¶V5HJLVWHU±)DLUSOD\ZRUOGÀHHW
a
7KHUHVLGXDOÀHHWUHIHUVWRJHQHUDOFDUJRFRQWDLQHUVKLSVDQGRWKHUYHVVHOVLQFOXGHGLQ DQQH[,,,E
E
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32
31
30
29
28
27
26
25
2000
2001
2002
2003
2004
2005
2006
2007
2008
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14
12
10
8
6
4
2
-
1970
1980
Tankers
1990
2000
Dry bulk carriers
2006
2007
2008
Container, general cargo and other ships
)LJXUH
7RQPLOHVSHUGHDGZHLJKWWRQGZWRIWKHZRUOGÀHHWE\YHVVHOW\SHVHOHFWHG\HDUV
50
45
40
35
30
25
20
15
10
5
-
1970
1980
Tankers
1990
Dry bulk carriers
2000
2006
2007
Container, general cargo and other ships
2008
79
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SUPPLY AND DEMAND IN WORLD
WDQNHUVGHFUHDVHGE\SHUFHQWIURPLQWR
SHIPPING
LQZKLOHWKHFRUUHVSRQGLQJ¿JXUHIRUGU\EXON
FDUULHUVGHFUHDVHGE\SHUFHQWIURPWR7KH 7KHFRPELQHGVXUSOXVWRQQDJHRIRLOWDQNHUVGU\EXON
SURGXFWLYLW\RIWKHUHVLGXDOÀHHWPHDVXUHGLQWRQPLOHV carriers and general cargo ships at the end of 2008
GDWD LV IRU 'HFHPEHU SHUGZWGHFUHDVHGSHUFHQWIURP
VWRRG DW PLOOLRQ GZW SHU
WR
The combined surplus
cent of the total world merchant
tonnage of oil tankers, dry
IOHHW FRUUHVSRQGLQJ WR D SHU
:KHUHDV LQ VKLS RSHUDWRUV bulk carriers and general
cent increase over the previous year
tended to reduce service speeds in
cargo ships at the end of
WDEOH 'XULQJ WKH ¿UVW PRQWKV
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corresponding
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a
57
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RQ$SULOFRUUHVSRQGLQJWRD
the oversupply of tonnage made
SHUFHQWVXUSOXV
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ORQJHU URXWHV HJ DURXQG WKH &DSH RI *RRG +RSH
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H[SHQGLWXUHV RQ FDQDO GXHV ZKLOH DW WKH VDPH WLPH DQG DERYH LQFUHDVHG LQ E\ PLOOLRQ GZW WR
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WRQQDJHVFUDSSHGODLGXSRUORVWVHHWDEOHDQG¿J
WKH*XOIRI$GHQ
7DEOH
7RQQDJHRYHUVXSSO\LQWKHZRUOGPHUFKDQWÀHHWVHOHFWHG\HDUV
HQGRI\HDU¿JXUHV
1990
2000
2004
2005
2006
2007
2008
1 Apr. 09
Million dwt
0HUFKDQWÀHHWWKUHHPDLQ
vessel typesa
Surplus tonnage
b
$FWLYHÀHHW
Percentages
Surplus tonnage as percentage
RIPHUFKDQWÀHHW
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LVVXHV
a
E
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DERYH
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LWLVO\LQJLGOHIRURWKHUUHDVRQV
80
7DEOH
Analysis of tonnage surplus by main type of vessel, selected yearsa
(In millions of dwt or m3)
1990
2000
2004
2005
2006
2007
2008
1 April 2009
:RUOGWDQNHUÀHHWGZW
266.2
279.4
298.3
312.9
367.4
393.5
414.0
426.4
7DQNHUÀHHWVXUSOXVGZW
6KDUHRIVXUSOXVÀHHWLQWDQNHUÀHHW
:RUOGGU\EXONÀHHWGZW
228.7
247.7
325.1
340.0
361.8
393.5
417.6
425.8
'U\EXONÀHHWVXUSOXVGZW
:RUOGFRQYHQWLRQDOJHQHUDOFDUJRÀHHWGZW
63.6
59.3
43.6
45.0
44.7
43.8
44.5
44.0
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6KDUHRIVXUSOXVÀHHWLQJHQHUDOFDUJRÀHHW
:RUOGUHHIHUÀHHWGZW
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
5.6
5.6
5HHIHUÀHHWVXUSOXVGZW
QD
QD
QD
QD
QD
QD
6KDUHRIVXUSOXVÀHHWLQUHHIHUÀHHW
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QD
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QD
QD
:RUOGURURÀHHWGZW
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
11.4
11.5
5RURÀHHWVXUSOXVGZW
QD
QD
QD
QD
QD
QD
6KDUHRIVXUSOXVÀHHWLQURURÀHHW
QD
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QD
QD
QD
QD
:RUOGYHKLFOHFDUULHUÀHHWGZW
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
11.3
11.4
9HKLFOHFDUULHUÀHHWVXUSOXVGZW
QD
QD
QD
QD
QD
QD
6KDUHRIVXUSOXVÀHHWLQYHKLFOHFDUULHUÀHHW
QD
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n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
44.4
48.0
/1*FDUULHUÀHHWVXUSOXVP
QD
QD
QD
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n.a.
n.a.
n.a.
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n.a.
n.a.
11.6
11.8
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QD
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6KDUHRIVXUSOXVÀHHWLQGU\EXONÀHHW
Source &RPSLOHGE\WKH81&7$'VHFUHWDULDWRQWKHEDVLVRIGDWDIURP/OR\G¶V6KLSSLQJ(FRQRPLVWYDULRXVLVVXHV
a
(QGRI\HDU¿JXUHVH[FHSWIRUDQGZKLFKDUHDQQXDODYHUDJHV7KLVWDEOHH[FOXGHVWDQNHUVDQGGU\
EXONFDUULHUVRIOHVVWKDQGZWDQGFRQYHQWLRQDOJHQHUDOFDUJRXQLWL]HGYHVVHOVRIOHVVWKDQGZW
81
Figure 20
Trends in surplus capacity by main vessel types, selected years
80
millions of dwt
70
60
50
40
30
20
10
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 April
09
Tankers
Dry bulk carriers
General cargo
Source &RPSLOHGE\WKH81&7$'VHFUHWDULDWRQWKHEDVLVRIGDWDIURP/OR\G¶V6KLSSLQJ(FRQRPLVWYDULRXVLVVXHV
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SHUFHQW±WKHVHFRQGKLJKHVWJURZWKUDWHRYHUD
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C.
COMPARISON OF CARGO
TURNOVER AND FLEETS
,QWKH8QLWHG6WDWHVJHQHUDWHGSHUFHQW
RI ZRUOG WUDGH LQ 8QLWHG 6WDWHV GROODUV LPSRUWV
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82
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Growth of demand and supply in container shipping, 2000–2009a
DQQXDOJURZWKUDWHV
15
10
5
0
-5
-10
Demand
Supply
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009a
10.7
2.4
10.5
11.6
13.4
10.6
11.2
11.0
4.7
-9.1
7.8
8.5
8.0
8.0
8.0
10.5
13.6
11.7
11.0
9.6
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of world trade respectively; all three countries also WKH 5HSXEOLF RI .RUHD +RQJ .RQJ &KLQD DQG
KDYHLPSRUWDQWVKDUHVLQWKHFRQWUROOHGÀHHWZKLOH 6LQJDSRUHDFFRXQWLQJIRUDQGSHUFHQW
only a minor proportion of its
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+RQJ .RQJ &KLQD FRQWUROV
each account for a similar share
SHU FHQW DQG 6LQJDSRUH
the Republic of Korea, Hong
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FRQWUROV SHU FHQW 7ZR
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/DWLQ $PHULFDQ FRXQWULHV
however their shares in the
are among the major trading
control or registration of ships
QDWLRQV QDPHO\ 0H[LFR DQG
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WKHZRUOG¶VWRQQDJHFRPSDUHGWRRQO\SHUFHQW 0H[LFR ZKLFK UHJLVWHUV RQO\ SHU FHQW RI WKH
FRQWUROOHGE\RZQHUVIURP)UDQFHWDEOH
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83
7DEOH
Maritime engagement of 25 major trading nations
GDWDWUDGHDQGEHJLQQLQJRIGDWDÀHHW
Country/territory
Percentage share of world
merchandise trade generated, in
terms of value
3HUFHQWDJHVKDUHRIZRUOGÀHHW
ÀDJLQWHUPVRIGZW
2007
2008
Change, in
percentage
points
Change, in
percentage
points
1.1.2008
1.1.2009
Change, in
percentage
points
Germany
China
Japan
France
Netherlands
Italy
United Kingdom
Belgium
Canada
Republic of Korea
Russian Federation
Hong Kong (China)
Spain
Singapore
Mexico
India
Saudi Arabia
Australia
Switzerland
Malaysia
Poland
Brazil
Austria
United States
Total
1.1.2008
1.1.2009
3HUFHQWDJHVKDUHRIZRUOGÀHHW
(ownership), in terms of dwt
Source &RPSLOHGE\WKH81&7$'VHFUHWDULDWRQWKHEDVLVRIGDWDVXSSOLHGE\WKHUNCTAD Handbook of StatisticsWUDGH
and /OR\G¶V5HJLVWHU±)DLUSOD\ÀHHWUHJLVWUDWLRQDQGRZQHUVKLS
ENDNOTES
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Chapter 4
TRADE AND FREIGHT MARKETS
This chapter looks at the demand side of international seaborne trade by describing conditions and trends in
trade and freight markets, covering the major tanker, bulk cargo and liner sectors. This chapter expands upon
the general overview of international maritime trade as described in chapter 1. The start of 2008 continued the
buoyant trend experienced in the preceding year in all sectors. However, by the middle of the year, things took
DWXUQIRUWKHZRUVHDVWKHJOREDO¿QDQFLDOFULVLVEHJDQWRDIIHFWGHPDQG7UDGHYROXPHVLQWKHEXONFDUJRDQG
liner sectors sustained dramatic declines, which continued for the remainder of the year and well into 2009. The
tanker market fared slightly better during 2008 compared to other sectors, although by the middle of 2009 all
sectors were experiencing similar declines. Initially, the record oil price reached in July 2008 had been pushing
WDQNHUUDWHVXSIRUWKH¿UVWKDOIRIDQGWDQNHUVEHLQJXVHGIRUVWRUDJHKHOSHGWRPDLQWDLQUDWHVKLJKXQWLO
the global economic crisis took effect.
A.
DPRXQWHGWRYHVVHOVRIPLOOLRQGZWSXVKLQJWKH
WRWDORUGHUERRNWRYHVVHOVRIPLOOLRQGZW
CRUDE OIL AND PETROLEUM
PRODUCTS SHIPPING MARKET1
1.
Introduction
Tanker freight rates
Crude oil and petroleum products are major transport )UHLJKW UDWHV IRU DOO W\SHV RI WDQNHU YHVVHOV LQ WKH
commodities, representing approximately one third of ¿UVWTXDUWHURIZHUHGRZQRQWKHVDPHSHULRG
the total world seaborne trade. In addition, crude oil IRUWKHSUHYLRXV\HDUVHHWDEOH7KLVIROORZHGD
ÀXFWXDWLQJLQZKLFKDYHUDJH
is still the main source of fuel that
freight rates peaked in the middle
SURSHOV WKH ZRUOG¶V PHUFKDQW ÀHHW
of the year, before embarking on
Shipping remains, on a per ton basis, Freight rates for all types of
WDQNHUYHVVHOVLQWKH¿UVW
a sector-wide downward trend.
WKHPRVWHI¿FLHQWDQGHQYLURQPHQWDOO\
quarter
of
2009
were
down
$OWKRXJK DYHUDJH WDQNHU IUHLJKW
IULHQGO\ IRUP RI WUDQVSRUWDWLRQ RYHU
on
the
same
period
for
the
UDWHVIRUZHUHXSLQDOOYHVVHO
long distances. Understanding tanker
VHFWRUVFRPSDUHGWRWKHSUHYLRXV
freight rates, and thus the underlying previous year.
\HDU¶V DYHUDJHV D FRPSDULVRQ
GHPDQGIRUWDQNHUVJLYHVWKHUHDGHU
DFOHDULQGLFDWLRQRIKRZZRUOGWUDGHLVHYROYLQJ&UXGH between December 2008 and December 2007 shows
oil production and consumption trends are discussed that all rates were substantially down. A sharp
in more detail in chapter 1. During 2008, there were GURSLQIUHLJKWUDWHVIRUDOOYHVVHOVZDVREVHUYHGLQ
QHZWDQNHUVGHOLYHUHGWRWDOOLQJPLOOLRQGZW January 2008, as a result of surplus tonnage following
ZKLOH YHVVHOV WRWDOOLQJ PLOOLRQ GZW ZHUH the New Year holiday period, reduced weather delays
GHPROLVKHG2UGHUVUHFHLYHGE\\DUGVIRUQHZEXLOGLQJV LQFURVVLQJWKH7XUNLVK6WUDLWVDQGORZHUGHPDQGIRU
85
86
crude oil across the Atlantic basin as refineries stopped
production and carried out maintenance. The months of
May, June and July 2008 represented the yearly highs
for all sectors. The record oil price reached in July 2008
had been a main driving factor pushing tanker rates up
for the first half of 2008, and tankers being used for
storage helped to maintain rates at high levels. Another
factor that fuelled the fire was the halving of Nigeria’s
2.5 million barrel-per-day output due to strikes. Freight
rates for Capesize vessels took a severe nosedive in
August, with rates falling by more than half, from 196
to 88 points. The smaller Panamax vessels ranging
from 25,000 to 75,000 dwt maintained their resilience
until October, before dropping from 263 to 175 points.
They continued to slide almost unabated, to 120 points
at the end of the first quarter of 2009. Declining oil
Table 29
Tanker freight indices, 2007–2009
(monthly figures)
Lloyd's Shipping Economist
>200
2007
October
November
December
Average
2008
January
February
March
April
May
June
July
August
September
October
November
December
Average
2009
January
February
March
April
May
June
120–200
70–120
Baltic Tanker
25–70
Clean
Dirty
Index
Clean
Index
57
72
201
110
104
126
232
154
134
148
214
165
180
205
279
221
170
198
239
202
902
1 089
1 535
1 175
767
812
1 184
921
112
97
108
110
182
182
196
124
119
156
187
239
210
248
178
141
175
217
247
237
250
205
182
202
239
271
324
291
215
195
197
234
279
326
305
1 914
1 174
1 164
1 482
1 701
1 921
1 883
1 083
938
946
873
1 192
1 388
1 454
88
103
99
67
71
118
174
156
149
121
139
169
196
197
165
124
191
193
282
282
263
175
206
244
316
316
239
198
182
250
1 801
1 451
1 508
1 246
1 124
1 531
1 331
1 476
1 367
1 039
880
1 164
54
44
33
29
84
65
90
52
100
84
82
67
125
95
120
105
130
126
105
72
30
43
58
63
66
102
90
112
103
98
849
597
626
524
476
623
600
543
371
424
482
479
Source: UNCTAD secretariat, based upon the executive summary in Lloyd’s Shipping Economist, several issues; Baltic Tanker
indices reported for the first working day of the month. Ship sizes are expressed in deadweight capacity.
4 - Trade and Freight Markets
demand brought about by the deepening economic
FULVLVFRPELQHGZLWKKLJKVWRFNOHYHOVFRQWULEXWHGWR
WKH GHFOLQLQJ UDWHV 5HGXFWLRQV LQ 23(& SURGXFWLRQ
also affected rates for cargo from the Arabian Gulf to
WKH8QLWHG6WDWHVDQG(DVWHUQ$VLD7KHVOLJKWUDOO\WKDW
WRRNSODFHWRZDUGVWKHHQGRISURYHGWREHYHU\
VKRUWOLYHGDVUDWHVIRUWKH¿UVWTXDUWHURIFRQWLQXHG
WKHLUGRZQZDUGWUDMHFWRU\7KH%DOWLF([FKDQJH'LUW\
7DQNHU,QGH[VKRZHGPRUHRIDUROOHUFRDVWHUULGHIURP
KLJKVRILQ-DQXDU\WRORZVRIOHVVWKDQ
in the following two months. It then embarked on an
upward trend, which culminated in June at 1,921 before
embarking on a year of almost continuous falls, hitting
SRLQWV LQ 0D\ 7KH %DOWLF ([FKDQJH &OHDQ
7DQNHU,QGH[DOVRIHOOIURPSRLQWVLQ6HSWHPEHU
2008 to 371 in April 2009.
7DEOHLOOXVWUDWHVDYHUDJHIUHLJKWUDWHVPHDVXUHGLQ
:RUOGVFDOH :6 D XQL¿HG PHDVXUH IRU HVWDEOLVKLQJ
VSRWUDWHVLQWKHWDQNHUPDUNHWRQVSHFL¿FPDMRUURXWHV
E\YDULRXVYHVVHOVL]HV7KHWDEOHIRFXVHVRQWUDGLWLRQDO
EHQFKPDUNURXWHVDQGLVQRWLQWHQGHGWREHH[KDXVWLYH
7KH PDLQ ORDGLQJ DUHDV LQGLFDWHG LQ WKH WDEOH DUH WKH
3HUVLDQ *XOI :HVW$IULFD WKH 0HGLWHUUDQHDQ WKH
Caribbean and Singapore, while the main unloading
DUHDVDUHLQ(DVWHUQ$VLD6RXWKHUQ$IULFD1RUWK:HVW
(XURSHWKH0HGLWHUUDQHDQWKH&DULEEHDQDQGWKH(DVW
&RDVWRI1RUWK$PHULFD7KHJURZLQJ:HVW$IULFDWR
China route, relying on large ships, has not been included
in the table.
87
(DVW&RDVWRI1RUWK$PHULFDURXWHZKHUHUDWHVDOPRVW
doubled, and on routes within the Mediterranean and
RQWKH&DULEEHDQ±(DVW&RDVWRI1RUWK$PHULFD*XOI
RI0H[LFRURXWHZKHUHUDWHVLQFUHDVHGE\RYHUWZR
thirds.
7KH PRVW GUDPDWLF GHFOLQHV LQ IUHLJKW UDWHV GXULQJ
LQYROYHGYHU\ODUJHFUXGHFDUULHU9/&&DQG
XOWUDODUJHFUXGHFDUULHU8/&&VHUYLFLQJURXWHVIURP
WKH3HUVLDQ*XOIWR(XURSHWKH$PHULFDVDQG(DVWHUQ
Asia. Freight rates on these routes declined by around
two thirds from December 2007 to December 2008. In
general, rates departed from their established pattern –
ZKLFKLVWRGHFUHDVHGXULQJWKH¿UVWWZRTXDUWHUVDQG
WR VWDELOL]H DQG FOLPE GXULQJ WKH ODVW TXDUWHU RI WKH
year – to a pattern where rates climbed towards the
middle of the year, before falling back and ending the
\HDUORZHU7KLVGHSDUWXUHIURPWKHWUDGLWLRQDOSDWWHUQ
that follows the seasons of the markets in the northern
KHPLVSKHUHZKHUHPRUHIXHOLVUHTXLUHGLQWKHZLQWHU
occurred because high oil prices fuelled higher demand
DV WUDGHUV VRXJKW VSHFXODWLYH SRVLWLRQV 8OWLPDWHO\
this bubble collapsed when the market saw that oil
SULFHVKDGUHDFKHGDSHDNDQGFRQVHTXHQWO\IUHLJKW
UDWHV FROODSVHG WRR7KH VWDUW RI GLG QRW ERGH
well for the tanker market, when, in January, freight
UDWHVIRUDOOURXWHVGHFOLQHG%\FRPSDULQJUDWHVIRU
the northern-hemisphere summer of 2008 with those
RI WKH VHFRQG TXDUWHU RI LW FDQ EH VHHQ WKDW
freight rates on some routes declined by as much as
SHUFHQW(YHQUDWHVRQWKHEHVWSHUIRUPLQJ1RUWK
:HVW(XURSH±&DULEEHDQ(DVW&RDVWRI1RUWK$PHULFD
URXWHGHFOLQHGE\DURXQGWZRWKLUGVIURP:6LQ
May 2008 to WS82 in April 2009.
When comparing freight indices for December 2007
with December 2008, it can be seen that rates on
all routes declined, with the sole exception of those
UHODWLQJ WR YHVVHOV RSHUDWLQJ LQ WKH 0HGLWHUUDQHDQ
One of the largest month-on-month increases in 7KH ELJJHVW GHFUHDVHV RQ D PRQWKE\PRQWK EDVLV
freight rates during 2008 occurred on routes within the RFFXUUHGLQ$XJXVWZKHQIUHLJKWUDWHVIRU9/&&VRQ
Mediterranean, when rates nearly
WKH3HUVLDQ*XOIWR-DSDQDQGRQ
doubled from WS113 in February to
WKH3HUVLDQ*XOIWRWKH5HSXEOLFRI
… freight rates for VLCCs on
:6LQ0DUFK7KLVZDVODUJHO\ the Persian Gulf toJapan and
.RUHD URXWHV GHFUHDVHG E\ RYHU
on the Persian Gulf
attributable to a light maintenance
SHUFHQWIURP:6WR:6
VHDVRQLQ(XURSHDQGDQLQFUHDVH to the Republic of Korea
DQG:6WR:6UHVSHFWLYHO\
routes
decreased
by
over
60
VWRFNLQWDNHE\UH¿QHULHVDKHDGRI
7KLV ZDV ODUJHO\ DWWULEXWDEOH
per cent …
proposed tax increases, particularly
to a cut in oil production by
in the United Kingdom. During the
23(&PHPEHUVZKLFKPHDQWOHVV
VDPHSHULRGUDWHVLQFUHDVHGE\RYHUSHUFHQWRQWKH FDUJRZDVDYDLODEOHLQWKH3HUVLDQ*XOIWRWUDQVSRUW
&DULEEHDQ±&DULEEHDQ(DVW&RDVWRI1RUWK$PHULFD elsewhere.
URXWH ,Q 0D\ UDWHV LQFUHDVHG E\ RYHU SHU FHQW
RQ WKH:HVW$IULFD±&DULEEHDQ(DVW &RDVW RI 1RUWK 0RUHGHWDLOHGLQIRUPDWLRQLVSURYLGHGLQWKHIROORZLQJ
$PHULFDURXWH'HFHPEHUDOVRSURYHGWREHDJRRG VHFWLRQVDERXWGHYHORSPHQWVLQLQUHODWLRQWRWKH
month for shipowners on the Caribbean–Caribbean/ YDULRXVFDWHJRULHVRIWDQNHUV
Routes
220
3HUVLDQ*XOI±&DULEEHDQ(DVW&RDVW
of North America
3HUVLDQ*XOI±6RXWK$IULFD
223
Mediterranean–Mediterranean
183
299
193
237
&DULEEHDQ±&DULEEHDQ(DVW&RDVW
of North America
0HGLWHUUDQHDQ±1RUWK:HVW(XURSH
,QGRQHVLD±)DU(DVW
203
&DULEEHDQ±(DVW&RDVWRI
North America/Gulf of Mexico
6LQJDSRUH±(DVW$VLD
±GZW
±GZW
287
198
200
198
180
187
190
171
180
137
138
189
182
221
187
191
192
173
173
..
97
88
221
227
212
211
200
109
102
220
298
172
207
279
210
288
273
237
..
132
212
302
288
290
300
218
222
309
190
199
..
190
..
82
83
70
182
230
1RWH
187
220
178
282
299
303
303
339
309 371
299
297
99
80
328
187
..
..
..
91
81
330
..
118
130
133
122
118
Nov
200
173
212
121
139
..
..
Dec
% change
2007/2008
130
131
110
118
81
107
99
90
..
..
Jan
131
118
80
100
90
78
92
80
70
71
98
93
79
108
112
109
71
112
97
81
73
77
..
30
30
82
72
70
72
87
82
72
21
27
27
..
77
83
80
80
73
..
20
27
27
..
78
101
109
90
103
77
79
80
78
38
32
28
Feb Mar Apr May Jun
2009
7ZRGRWVPHDQVWKDWQRUDWHZDVUHSRUWHG7KHFODVVL¿FDWLRQRIVKLSVL]HLQWKLVWDEOHUHÀHFWVWKHVRXUFHXVHGDQGPD\YDU\ZKHQFRPSDUHGWRRWKHUSDUWVRI
this publication.
327
291
270 ..
283
272
233
222
229
..
238
211
Aug Sept Oct
6RXUFH 81&7$'VHFUHWDULDWEDVHGXSRQ6KLSSLQJ,QVLJKWIURP'UHZU\3XEOLVKLQJYDULRXVLVVXHV
322
&DULEEHDQ±(DVW&RDVWRI
North America/Gulf of Mexico
3HUVLDQ*XOI±-DSDQ
3HUVLDQ*XOI±-DSDQ
0HGLWHUUDQHDQ±&DULEEHDQ(DVW&RDVW
of North America
70,000–80,000 dwt
±GZW
All clean tankers
Handy size (less than 50,000 dwt)
190
1RUWK:HVW(XURSH±&DULEEHDQ
(DVW&RDVWRI1RUWK$PHULFD
170
190
128
113
..
99
88
Jul
2008
Feb Mar Apr May Jun
..
122
127
Jan
1RUWK:HVW(XURSH±1RUWK:HVW
(XURSH
Aframax (70,000–100,000 dwt)
237
:HVW$IULFD±1RUWK:HVW(XURSH
:HVW$IULFD±&DULEEHDQ(DVW&RDVW
of North America
Suezmax (100,000–160,000 dwt)
189
Dec
2007
3HUVLDQ*XOI±-DSDQ
3HUVLDQ*XOI±5HSXEOLFRI.RUHD
3HUVLDQ*XOI±(XURSH
VLCC/ULCC (200,000 dwt+)
Vessel type
Tanker market summary: clean and dirty spot rates, 2007–2009
:RUOGVFDOH:6
7DEOH
88
9HU\ODUJHDQGXOWUDODUJHFUXGHFDUULHUV
89
on West African routes slumped to a 10-year low of
:6LQ$SULOGRZQDSSUR[LPDWHO\SHUFHQW
from the highs of mid-2008, as a dearth of cargoes
OLPLWHGDFWLYLW\,Q0DUFK&RQRFR3KLOOLSVWRRND
GZW6XH]PD[EXLOWLQWKH\HDUIURP:HVW
$IULFDWRWKH86*XOIDW:67KLVZDVDVLJQL¿FDQW
IDOOIURP:6LQ0D\$VIDUDVLQFRPHZDV
FRQFHUQHGUHYHQXHVUHFHLYHGE\VKLSRZQHUVRQWKH:HVW
$IULFDWRWKH&DULEEHDQ(DVW&RDVWRI1RUWK$PHULFD
URXWH GHFOLQHG IURP SHU GD\ DW :6 LQ
)HEUXDU\ WR SHU GD\ DW :6 LQ WKH
following month. A corresponding decline was noted
LQYHVVHOSULFHV$¿YH\HDUROG6XH]PD[LQ$SULO
FRVWPLOOLRQFRPSDUHGZLWKDQQXDODYHUDJHVRI
PLOOLRQLQDQGPLOOLRQLQ
5HSUHVHQWLQJVRPHRIWKHZRUOG¶VODUJHVWVKLSV9/&&V
DQG8/&&VRIIHUWKHEHVWHFRQRPLHVRIVFDOHIRUWKH
transportation of oil where pipelines are non-existent.
2YHUDOOWKH9/&&PDUNHWLQZDVQRWIDYRXUDEOH
IRUVKLSRZQHUVUDWHVRQDOOURXWHVGHFOLQHGEHWZHHQ
and 70 per cent when comparing December 2007 with
'HFHPEHU:KLOHWKHQRUWKHUQKHPLVSKHUHVSULQJ
and summer months saw some strong growth, rates
plummeted starting from August 2008 and continued to
IDOOZHOOLQWRWKHVSULQJRI7KHELJJHVWJDLQVIRU
shipowners were seen in May 2008, when rates climbed
E\SHUFHQWRQWKH3HUVLDQ*XOIWR(XURSHURXWHIURP
:6WR:67KLVZDVDWWULEXWDEOHWRDFRPELQDWLRQ
of factors, ranging from a decrease in the supply of
DYDLODEOH FDUU\LQJ FDSDFLW\ EURXJKW DERXW E\ KLJK RLO
$IUDPD[WDQNHUWRQQDJH
SULFHVZKLFKIRUFHGPDQ\VKLSRZQHUVWRUHGXFHYHVVHOV¶
speeds, to strikes by port workers and the increased use $IUDPD[WDQNHUVRIDURXQGWRGZWRIIHU
RIWRQQDJHWRVWRUHFUXGH(DUQLQJVIRUVKLSRZQHUVGXULQJ DODUJHFDUU\LQJFDSDFLW\DQGÀH[LELOLW\7KH\DUHRIWHQ
WKLVSHULRGUHDFKHGSHUGD\%\$XJXVW deployed for trading within and between the following
KRZHYHUWKHJRRGWLPHVIRUVKLSRZQHUVZHUHRYHUDQG UHJLRQV 1RUWK:HVW (XURSH WKH &DULEEHDQ WKH (DVW
UDWHVKDOYHGIURP:6WR:6RQWKH3HUVLDQ*XOI Coast of North America, the Mediterranean, Indonesia
WR(XURSHURXWH7KLVGRZQWXUQDOVRDIIHFWHGWKHYDOXH DQG(DVWHUQ$VLD
RI VKLSV 7KH SULFH RI D ¿YH\HDUROG 9/&& LQ$SULO
2009 declined to around $87 million, compared to ,QJHQHUDOIUHLJKWUDWHVIRUDOO$IUDPD[YHVVHOVGHFOLQHG
DQQXDO DYHUDJH SULFHV RI PLOOLRQ LQ DQG at the start of 2008 and then peaked in the middle of the
PLOOLRQLQ7KHFRVWRIGHPROLVKLQJVKLSV \HDU7KH$IUDPD[PDUNHWJHQHUDOO\IDUHGEHWWHUWKDQWKH
declined sharply too, as the price
market for other types of tankers in
of steel plummeted from more than The Aframax market generally
,QGHHGWKHRQO\W\SHRIYHVVHO
$700 a ton in 2008 to around $200 fared better than the market
WRVKRZSRVLWLYHJDLQVIRUWKH\HDU
LQVHHFKDSWHU2QHRIWKH for other types of tankers in
was on the Aframax Mediterranean–
highest prices paid by breakers was 2008.
0HGLWHUUDQHDQURXWHZLWKDSHU
LQ WKH ¿UVW TXDUWHU RI IRU WKH
cent growth rate. Freight rates for
1987-built &(OHSKDQWDWGZWWKH%DQJODGHVKL RWKHUURXWHVGHFUHDVHGE\EHWZHHQDQGSHUFHQW
breakers reportedly paid $770 per light displacement 7KHPRVWSUR¿WDEOHURXWHLQWHUPVRIWKHPRVWHDUQHG
WRQOGW
LQDVLQJOHPRQWKZDVWKH&DULEEHDQ±&DULEEHDQ(DVW
Coast of North America route, which peaked in June
2008 at WS309, pushing the daily time charter earnings
6XH]PD[WDQNHUWRQQDJH
WRD\HDUO\KLJKRISHUGD\)UHLJKWUDWHVIRU
As the name suggests, Suezmax ships are the largest YHVVHOV RQ WKH 0HGLWHUUDQHDQ±1RUWK :HVW (XURSH
tankers able to transit the Suez Canal. Capable of 0HGLWHUUDQHDQ±0HGLWHUUDQHDQDQG,QGRQHVLD±)DU(DVW
RSHUDWLQJ RQ RWKHU URXWHV 6XH]PD[ YHVVHOV SOD\ DQ URXWHVDOOSHDNHGWKHIROORZLQJPRQWKDW:6:6
important role in trading from West Africa to North- DQG:6UHVSHFWLYHO\1RYHPEHUSURYHGWREHD
:HVW(XURSHDQGWRWKH&DULEEHDQ(DVW&RDVWRI1RUWK SDUWLFXODUO\GLI¿FXOWPRQWKIRUIUHLJKWHDUQLQJVDVIRXU
$PHULFD DV ZHOO DV DFURVV WKH 0HGLWHUUDQHDQ 7KHVH of the six routes shown in table 29 experienced a yearly
URXWHV VDZ VLJQL¿FDQW GHFOLQHV LQ IUHLJKW UDWHV DW WKH ORZ 7KH &DULEEHDQ±&DULEEHDQ(DVW &RDVW RI 1RUWK
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a turnaround was seen in March 2008, which lasted of $19,300 per day. Despite a rally in freight rates at the
for the most part until the end of the year, shipowners end of 2008, rates continued their downward path well
could not withstand the global economic downturn, into 2009, pushing rates on the Caribbean–Caribbean/
and the start of 2009 marked a bleak era. Freight rates (DVW&RDVWRI1RUWK$PHULFDURXWHGRZQWRSHU
90
GD\E\$SULO7KHSULFHRID¿YH\HDUROG$IUDPD[
LQ$SULOZDVPLOOLRQFRPSDUHGZLWKDQQXDO
DYHUDJHVRIPLOOLRQLQDQGPLOOLRQLQ
2007.
7KHDYHUDJHWLPHFKDUWHUHTXLYDOHQWHDUQLQJVIRUSURGXFW
tankers continued its downward slide. For example,
DYHUDJHDQQXDOWLPHFKDUWHUHTXLYDOHQWHDUQLQJVRQWKH
&DULEEHDQ±(DVW&RDVWRI1RUWK$PHULFD*XOIRI0H[LFR
URXWH ZHUH SHU GD\ LQ FRPSDUHG ZLWK
SHUGD\LQDQGSHUGD\LQ
+DQG\VL]HWDQNHUWRQQDJH
7KHDYHUDJHIRU$SULOIRUWKLVURXWHZDV
$WOHVVWKDQGZWKDQG\VL]HWDQNHUVDUHFDSDEOHRI FRPSDUHGWRMXVWLQ$SULO
calling at destinations with limited draft and with length
UHVWULFWLRQVPDNLQJWKHPYHU\YHUVDWLOH7DEOHVKRZV 7DQNHUSHULRGFKDUWHUPDUNHW
the freight rates for these types of ships deployed for
trades across the Mediterranean, for trades originating ,QWRWDOFKDUWHULQJDFWLYLW\GURSSHGE\DPLOOLRQ
in the Mediterranean with destinations in the Caribbean GZW WR PLOOLRQ GZW IURP WKH ¿JXUH RI DQGRQWKH(DVW&RDVWRI1RUWK$PHULFDDQGIRUWUDGHV PLOOLRQGZWUHFRUGHGWKHSUHYLRXV\HDU0DUFKDQG$SULO
IURPWKH&DULEEHDQWRWKH*XOIRI0H[LFRDQGWKH(DVW both recorded less than 1 million dwt, while February
Coast of North America.
DQG2FWREHUVDZWKHPRVWFKDUWHULQJDFWLYLW\ZLWK
PLOOLRQGZWDQGPLOOLRQGZWUHVSHFWLYHO\
Freight rates on all three routes shown in table 29 declined
by between 23 and 33 per cent, with the Mediterranean– $ERXWSHUFHQWRIWRWDOFKDUWHULQJDFWLYLW\LQZDV
&DULEEHDQ(DVW&RDVWRI1RUWK$PHULFDURXWHGHFOLQLQJ PDGHXSRIORQJWHUPFKDUWHUVRIPRQWKVRUPRUH
the most. 7KHORZSRLQWLQWKH\HDURFFXUUHGLQ1RYHPEHU GRZQIURPSHUFHQWLQDQGSHUFHQWLQ
on routes between the Mediterranean and the Caribbean 7KHQH[WPRVWDFWLYHVHFWRURIWLPHFKDUWHULQJZDVIRU
DQGWKH(DVW&RDVWRI1RUWK$PHULFDDQGDOVRRQWKH WKHSHULRGRIOHVVWKDQPRQWKVSHUFHQWDQGWKHQ
&DULEEHDQWRWKH*XOIRI0H[LFRDQGWKH(DVW&RDVWRI WKRVHZLWKDGXUDWLRQRIRQHWRWZR\HDUVSHUFHQW
North America route.
9HU\ODUJHWDQNHUV8/&&VDQG9/&&VDFFRXQWHGIRU
DERXWSHUFHQWRIWRWDOFKDUWHULQJDFWLYLW\GRZQIURP
SHU FHQW LQ 7DQNHUV DW WKH ORZHU HQG RI WKH
$OOFOHDQWDQNHUV
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Freight rates on all four routes shown in table 29 declined FHQW &KDUWHULQJ DFWLYLW\ LQ WKH ¿UVW TXDUWHU RI E\EHWZHHQDQGSHUFHQWZLWKWKH3HUVLDQ*XOIWR GHFOLQHG VLJQL¿FDQWO\ WR PLOOLRQ GZW GRZQ IURP
-DSDQURXWHGHFOLQLQJWKHPRVW7KHORZSRLQWLQWKH\HDU PLOOLRQ GZW IRU WKH VDPH SHULRG LQ 5DWHV
RFFXUUHGLQ'HFHPEHURQWKH3HUVLDQ*XOIWR-DSDQURXWH YDULHGOLWWOHWKURXJKRXWPRVWRIWKH\HDUH[FHSWIRUDQ
DQGRQWKH&DULEEHDQWRWKH(DVW&RDVWRI1RUWK$PHULFD LQFUHDVH LQ 'HFHPEHU RI DURXQG SHU FHQW RYHU WKH
route. Rates continued to fall in 2009, by as much as two SUHYLRXVPRQWK)RUH[DPSOHHVWLPDWHGWDQNHURQH\HDU
WKLUGVRQWKH3HUVLDQ*XOIWR-DSDQURXWHGXHWRDPSOH WLPHFKDUWHUUDWHVIRUD¿YH\HDUROGVKLSRIGZW
VXSSOLHVDQGZHDNGHPDQGLQUH¿QHGIXHOV
ZHQWIURPSHUGD\LQ-DQXDU\WR
SHUGD\LQ-DQXDU\7KH¿UVWTXDUWHURIVDZ
7KHFKHPLFDOWDQNHUÀHHWFRQVLVWVRIDURXQGYHVVHOV a continuation of this trend, so that by March the rate
ZLWKDFDUU\LQJFDSDFLW\RIPLOOLRQGZW7ZRWKLUGV stood at $71,000 per day.
RI WKHVH YHVVHOV KDYH ,02 VSHFL¿FDWLRQV WR WUDGH
primarily in pure chemical cargoes such as styrene, B.
LIQUEFIED NATURAL GAS
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IMO 3, or double-hull product tankers, trading only in SHU FHQW ZKHQ LW LV FRROHG WR ±& PDNLQJ LW
FKHPLFDOVDQGYHJHWDEOHRLOV/HVVWKDQSHUFHQWRI SRVVLEOHWRWUDQVSRUWODUJHYROXPHVE\YHVVHO7KHW\SLFDO
YHVVHOVSRVVHVVWKH,02VSHFL¿FDWLRQWRWUDGHLQWKH OLTXH¿HG QDWXUDO JDV /1* WDQNHU FDUULHV ±
most hazardous cargoes such as chlorosulphonic acid FXELFPHWUHVRIQDWXUDOJDVRQDVLQJOHYR\DJH
DQGWULFKORUREHQ]HQH0RVWRIWKHVHYHVVHOVDUHGHSOR\HG When YDSRUL]HGWKLVEHFRPHVPLOOLRQ±PLOOLRQ
in deep sea trades.2
cubic metres. 3 +RZHYHU OLTXHIDFWLRQ SODQW FRVWV
UHSUHVHQWWKHKLJKHVWSRUWLRQRIWKHFRVWVIRUDQ\/1*
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would render the project uneconomic, or the crossing of
many territories would pose too many potential risks of
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rise less rapidly as a function of distance than pipeline
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itself. Should there be a problem in supply, such as one
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economic downturn, and from weak demand – especially
IRUHOHFWULFLW\7KHPDLQ/1*LPSRUWHUVLQFOXGHGERWK
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Republic of Korea, the United States, Spain, France
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declined in recent years, dropping in 2008 alone by
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included Algeria, Indonesia, Malaysia and Nigeria.
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RZQHURSHUDWRUZLWKDQ/1*ÀHHWRIYHVVHOV,QWKH
¿UVWWZRPRQWKVRIZRUOG/1*WUDGHGHFOLQHGE\
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weak global gas market – from Algeria, Nigeria, Qatar,
,QGRQHVLD(J\SWDQG(TXDWRULDO*XLQHD
91
JOREDO OLTXHIDFWLRQ FDSDFLW\ LQ WKH ¿UVW KDOI RI increased by a mere 1.9 per cent to 87.8 million
PHWULFWRQVSHU\HDU007<DVPDMRUSURMHFWVZHUH
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RWKHUSURMHFWVVKRXOGFRPHLQDQGSURYLGHDERXW
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at Melkøya in northern Norway resumed operation in
2008 after a few start-up problems, while in the Russian
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Also in the Russian Federation is the giant Shtokman
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the north-west of the country, which is still in the initial
VWDJHVRIGHYHORSLQJ/1*IDFLOLWLHV7KH¿UVWVKLSPHQWV
RI/1*FDUJROHIW7DQJJXKLQWKH6WDWHRI3DSXD%DUDW
Indonesia, bound for Gwangyang, Republic of Korea,
LQ-XQH7DQJJXKLV,QGRQHVLD¶VWKLUG/1*H[SRUW
FHQWUHWKHRWKHUVDUH%RQWDQJLQ(DVW.DOLPDQWDQDQG
$UXQLQ6XPDWUD7KHELOOLRQSURMHFWZLOOSURGXFH
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produce up to 3.8 million tons per annum each.
2.
LNG freight rates
0RVW/1*YHVVHOVDUHLQVWDEOHORQJWHUPFRQWUDFWVDQG
WKXVGRQRWVXIIHUIURPWKHZLGHO\YDU\LQJVSRWPDUNHW
prices that affect other sectors. Daily charter rates in
ZHUHRQDYHUDJHLQWKHWRSHUGD\
UDQJHIRUPRVWRI+RZHYHUVXFKUDWHVIRU/1*
tankers on short-term hauls declined by 17 per cent in
WRDURXQGDGD\IRUVWHDPWXUELQHYHVVHOV
ZLWKDFDSDFLW\RIWRFXELFPHWUHVGXH
SULPDULO\WRDQLQFUHDVHLQWKHVXSSO\RIQHZYHVVHOV
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1.
Developments in LNG trade6
Whereas gas was once burnt off as a waste product in
WKH RLO H[WUDFWLRQ SURFHVV PHWKRGV KDYH GHYHORSHG
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allowed a decrease in transport costs by between 20
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located mainly in the Republic of Korea, and to a lesser
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92
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freight rates in the medium term, as production capacity
at new facilities lags behind.
C.
DRY BULK SHIPPING MARKET9
Introduction
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cent, followed by the Republic of Korea, Hong Kong
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Singapore.
1.
Developments in dry bulk trade
7KHGU\EXONPDUNHW±ZKLFKKDGEHHQULGLQJKLJKVLQFH
±FROODSVHGLQGHVSLWHDSURPLVLQJVWDUW7KH
%DOWLF([FKDQJH'U\,QGH[ZKLFKPHDVXUHVIUHLJKWUDWHV
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alumina and phosphate, processed as inputs for products ,URQRUH
which in turn form the backbone of merchandise trade.
7KHGU\EXONVHFWRUDFFRXQWVIRUDURXQGSHUFHQWRI Iron ore is an important commodity as it forms the basic
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LV D PDMRU FRPSRQHQW RI KHDY\
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industrial production. Around
dry bulk cargoes loaded in 2008
The dry bulk market – which
98 per cent of iron ore goes into
VWRRG DW ELOOLRQ WRQV 7UDGH LQ had been riding high since
iron and steel production, with
the major dry bulks, which are
2003 – collapsed in 2008,
the remainder used in applications
considered in the following sections,
despite a promising start.
such as coal washeries and cement
was estimated at 2.1 billion tons in
manufacturing. Iron itself is the
2008. With a carrying capacity of
DURXQGPLOOLRQGZWDQGDQRUGHUERRNRIPLOOLRQ PRVWFRPPRQO\XVHGPHWDOPDNLQJXSSHUFHQWLQ
GZWDVRI0DUFKWKHZRUOGÀHHWRIGU\EXONFDUULHUV tonnage of global metal production. Iron is also alloyed
LVVHWWRJURZE\DURXQGSHUFHQWRYHUWKHQH[WIHZ with a number of elements such as carbon, manganese
\HDUV'XULQJQHZEXLOGLQJVZHUHGHOLYHUHG and nickel to produce stronger and harder steels which
WRWDOOLQJ VRPH PLOOLRQ WRQV ZKHUHDV YHVVHOV DUHLQGLVSHQVDEOHLQFRQVWUXFWLRQDQGIRUPRWRUYHKLFOHV
WRWDOOLQJPLOOLRQWRQVZHUHGHPROLVKHG7KHDYHUDJH ships, trains and railroad tracks.10
VL]H RI D QHZO\ GHOLYHUHG EXON FDUULHU LV WKXV DURXQG
GZWFRPSDUHGWRDQDYHUDJHVL]HRIGZW $XVWUDOLDDQG%UD]LODFFRXQWIRUWZRWKLUGVRIWKHZRUOG¶V
IRUVFUDSSHGYHVVHOVVKLSRZQHUVDUHFOHDUO\JHWWLQJULGRI exports of iron ore. China accounts for almost half of the
world’s imports, and Japan remains the second-largest
ROGHUVPDOOHUWRQQDJHLQIDYRXURIQHZODUJHUVKLSV
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In general, as a way of securing essential supplies, FRPSDQLHVDUH%UD]LO¶V9DOHDQGWKH%ULWLVK$XVWUDOLDQ
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bulk carriers, which supply it with raw materials for the DQG&KLQDWDNHVDERXWGD\VRQDYHUDJHFRPSDUHG
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example, Indonesia – a major oil exporter – has a large IURP%UD]LOWR&KLQDLQWKHVSDFHRID\HDURUUHWXUQ
RLOWDQNHUÀHHW7KXVGHYHORSLQJFRXQWULHVWHQGHLWKHUWR trips from Australia to China. Considering that these
specialize in bulk shipping that carries the raw material YHVVHOVXVXDOO\UHWXUQLQEDOODVWYDOXDEOHVDLOLQJWLPH
they need in order to produce manufactured goods, or to LV FRQVXPHG RQ ORQJHU YR\DJHV ZKHQ QR UHYHQXH LV
EHH[SRUWHUVRIRQHSDUWLFXODUFDUJRW\SHVHHFKDSWHU being earned.
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sectors, China’s imports of iron ore increased in 2008
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PLOOLRQWRQVYDU\LQJIURPDKLJKRIPLOOLRQWRQV
LQ$SULOWRDORZRIPLOOLRQWRQVLQ2FWREHU
2008. In April 2009, China reached a new import high
IRULURQRUHDWPLOOLRQWRQV7KH¿UVWIHZPRQWKVRI
2009 showed an increase in iron ore imports by China
RI SHU FHQW RYHU WKH VDPH SHULRG LQ EULQJLQJ
VWRFNOHYHOVLQSRUWVWRDURXQGPLOOLRQWRQVXSIURP
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to around 20 million tons.11 According to data released
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some mills to reduce their demand for iron ore imports
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iron ore during 2008. If domestic production stays the
same, then imported iron ore after August 2009 will either
fall – leading to lower freight rates – or it will contribute
to the stockpile and help maintain rates. In 2009, China
DOVRDQQRXQFHGWKHGLVFRYHU\RIQHZLURQRUHUHVHUYHVRI
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affect world markets is not yet clear, as it will depend on
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sold around 20 per cent on the spot market. During 2008,
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out for a freight premium because of their geographical
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9DOHKDGSUHYLRXVO\ZRQDQLQFUHDVHRISHUFHQWEXW
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price cut with Japan’s Nippon Steel, the world’s second-
93
largest steelmaker.12 13 7KLV KDV VLJQDOOHG WKH ZD\ IRU
IXUWKHUSULFHFXWVDVWKHJOREDO¿QDQFLDOFULVLVGHHSHQV
,Q-XQH9DOHVODVKHGLWVEHQFKPDUNLURQRUHSULFHV
E\DVPXFKDVSHUFHQWIRUVWHHOPDNHUVIURP-DSDQ
and the Republic of Korea.
7RZDUGV WKH HQG RI WKH ,QGLDQ *RYHUQPHQW
announced a series of financial measures aimed at
ERRVWLQJ LWV GU\ EXON WUDGH7KHVH LQFOXGHG DEROLVKLQJ
the country’s 8 per cent export duty on iron ore, and a
UHGXFWLRQLQYDOXHDGGHGWD[IURPSHUFHQWWRSHUFHQW
2QHRIWKHLPPHGLDWHHIIHFWVZDVD¿YHIROGLQFUHDVHLQ
Indian iron ore imports by China, pushing the country’s
total exports to 13.9 million tons for the month of
-DQXDU\6XEVHTXHQWPRQWKVVDZDGHFOLQHLQH[SRUWV
as the increasing cost of rail freight from Karnataka and
eastern India took effect. Draft restrictions at Indian ports
also been a contributing factor in limiting exports, as
RQO\WKHVPDOOHU6XSUDPD[YHVVHOV±UDWKHUWKDQ&DSHVL]H
YHVVHOV±FDQVHUYHWKLVWUDGHDQGWKLVPD\OHDGWRKLJKHU
OHYHOVRISRUWFRQJHVWLRQ
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In addition to being an important ingredient in steel
SURGXFWLRQ FRDO FRNLQJ LV XVHG WR PDNH PDQ\
SURGXFWV DQG LV DOVR XVHG WR FUHDWH HQHUJ\ WKHUPDO
FRDOWRIXHOLQGXVWU\7KHGHPDQGIRUFRDOLPSRUWVLQ
(XURSHGHFUHDVHGWRPLOOLRQWRQVLQIURP
PLOOLRQWRQVLQ/LNHZLVHLQ7DLZDQ3URYLQFH
RI&KLQDFRDOLPSRUWVGHFUHDVHGIURPPLOOLRQWRQV
LQWRPLOOLRQWRQVLQ2QWKHRWKHUKDQG
FRDO LPSRUWV LQWR -DSDQ LQFUHDVHG IURP PLOOLRQ
WRQVLQWRPLOOLRQWRQVLQ7KH5HSXEOLF
RI.RUHDLQFUHDVHGLWVOHYHORIFRDOLPSRUWVWRRIURP
PLOOLRQWRQVWRPLOOLRQWRQV
In other parts of the world, coal exports from Ukraine were
affected by a number of incidents, including a methane
explosion at the Karl Marx mine in the Donetsk region.
,Q 0DUFK WKH 8NUDLQLDQ *RYHUQPHQW LQWURGXFHG
a 13 per cent import duty on all coal, in order to protect
GRPHVWLF SURGXFHUV ,QGLD UHFHLYHG WKH ¿UVW LQ D VHULHV
RIVKLSPHQWVDPRXQWLQJWRPLOOLRQWRQVRIFRDOIURP
$XVWUDOLDQ PLQHV LQ:ROORQJRQJ7KLV FDPH DW D JRRG
time for India, which is facing increased costs for its coal
LPSRUWV IURP &KLQD DIWHU WKH *RYHUQPHQW WKHUH UDLVHG
H[SRUW WDULIIV IURP WR SHU FHQW ,Q 9LHW 1DP
WKH *RYHUQPHQW LQWURGXFHG D VHULHV RI WD[ LQFUHDVHV
on coal exports, bringing the duty up to 20 per cent. In
South Africa, exports of coking coal decreased during
March and April 2008 as domestic steel production rose.
94
*UDLQ
Grains form the key ingredients that go into the
manufacture of food stock for humans and animal
IHHG 7KH VLQJOH ODUJHVW H[SRUWHU RI JUDLQV LV WKH
United States, followed by Argentina, Canada, the
(XURSHDQ8QLRQDQG$XVWUDOLD*UDLQH[SRUWVIURPWKH
8QLWHG6WDWHVGHFUHDVHGLQWRPLOOLRQWRQV
down from 98.2 million tons in 2007. Grain exports
from Canada also declined, from 22.2 million tons in
WRPLOOLRQWRQVLQ7KH(XURSHDQ8QLRQ
LQFUHDVHGLWVH[SRUWVIURPPLOOLRQWRQVLQWR
PLOOLRQWRQVLQIROORZLQJDUHFRYHU\LQWKH
KDUYHVWDIWHUDSDUWLFXODUO\EDG$XVWUDOLDLQFUHDVHG
its exports from 9.2 million tons in 2007 to 13.1 million
tons in 2008, while Argentina’s exports of grain remained
UHODWLYHO\XQFKDQJHGDWPLOOLRQWRQVGHVSLWHPRQWKV
RI SURWHVWV DQG D GD\ IDUPHUV¶ VWULNH DJDLQVW WKH
*RYHUQPHQW¶VLQFUHDVHLQDJULFXOWXUDOH[SRUWWD[,QWKH
5XVVLDQ)HGHUDWLRQJRYHUQPHQWSURSRVDOVZHUHPDGH
regarding the creation of a state grain company to control
grain exports.
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LQ &KLQD FRPSDQLHV RSHUDWLQJ DERXW SODQWV
FRQWURO RYHU SHU FHQW RI &KLQHVH SURGXFWLRQ ,Q
WKHUH ZHUH DOPRVW QHZ DOXPLQLXP VPHOWHU
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GHYHORSPHQWZLWKDWRWDOFDSDFLW\RIPLOOLRQWRQV
SHU \HDU +RZHYHU FRQVWUXFWLRQ KDG EHJXQ DW RQO\
10 of these, with a total capacity of 2.8 million tons
per year. A new 300,000-ton-per-year smelter factory
began operations in Oman.
7KHZRUOG¶VODUJHVWDOXPLQLXPDQGDOXPLQDSURGXFHU
UC Rusal,18 restarted output at the Alscon plant in
Nigeria, which has a capacity of 197,000 tons annually.
/RFDWHGQRWIDUDZD\IURP1LJHULDLV*XLQHDZKLFK
KDV WKH KLJKHVW UHVHUYRLU RI EDX[LWH LQ WKH ZRUOG
and where UC Rusal owns the Friguia bauxite and
alumina complex, which has the capacity to produce
WRQV RI DOXPLQD DQG PLOOLRQ WRQV RI
EDX[LWHD\HDU7KH$OVFRQSODQWZKLFKLVRZQHGE\
8&5XVDOSHUFHQWWKH1LJHULDQ*RYHUQPHQW
SHUFHQWDQG)HUURVWDDO$*SHUFHQWZDV
built in Nigeria because a smelter consumes an
enormous amount of energy, which Nigeria has in the
IRUPRIK\GURFDUERQV(OHFWULFDOSRZHUDQGDOXPLQD
remain the two costliest inputs in the production of
SULPDU\DOXPLQLXP+RZHYHUDVHFXUHDQGORZFRVW
supply of power is a more important factor than either
nearby raw materials or markets, when deciding on a
ORFDWLRQIRUDQDOXPLQLXPVPHOWHU([DPSOHVRIWKLV
DUHWKHODUJHVPHOWHUVLQ%DKUDLQ'XEDL2PDQ6RXWK
$IULFD 0R]DPELTXH DQG ,FHODQG 6RPH FRXQWULHV
VXFKDV&DQDGDDQG1RUZD\WDNHDGYDQWDJHRIERWK
plentiful hydroelectricity and nearby consumption
markets.
%DX[LWH DQG DOXPLQD DUH SULPDULO\ XVHG WR PDNH
DOXPLQLXPPHWDO2QDYHUDJHLWWDNHVWRQVRIGULHG
bauxite to produce 2 tons of alumina, which, in turn,
SURYLGHVWRQRISULPDU\DOXPLQLXPPHWDO$OXPLQLXP
PHWDOLWVHOILVXVHGPDLQO\LQWKHWUDQVSRUWDWLRQSHU
FHQW RI GHPDQG FRQVWUXFWLRQ SHU FHQW DQG
SDFNDJLQJSHUFHQWLQGXVWULHV177KHWRWDOXVHRI
aluminium, including all forms of secondary metal,
DPRXQWV WR DERXW PLOOLRQ WRQV DQQXDOO\ :RUOG
mine production of bauxite increased by an estimated
SHUFHQWWRUHDFKPLOOLRQWRQVLQ7KH *OREDOEDX[LWHUHVRXUFHVDUHHVWLPDWHGDWWRELOOLRQ
H[SDQVLRQRIEDX[LWHPLQHVLQ$XVWUDOLD%UD]LO&KLQD tons. In terms of regions, 33 per cent are located in
and India accounted for most of the slight increase South America and the Caribbean, 27 per cent in Africa,
in the worldwide production of
17 per cent in Asia, 13 per cent in
bauxite in 2008. Meanwhile, world
Oceania and 10 per cent elsewhere.
World mine production of
alumina production increased by an
7KH OHDGLQJ EDX[LWHSURGXFLQJ
HVWLPDWHGSHUFHQWLQ&KLQD bauxite increased by an
countries, which together account
estimated 1.5 per cent to
dominates the global aluminium
IRU WKUHH TXDUWHUV RI WRWDO ZRUOG
reach 205 million tons in 2008.
industry, accounting for one third
production, in decreasing order
of both world production and world
of tonnage mined, are: Australia,
consumption of primary aluminium. After China, %UD]LO&KLQD*XLQHDDQG-DPDLFD
the most important producing countries are the
Russian Federation, Canada, the United States, 7KH/RQGRQ0HWDO([FKDQJH/0(PRQWKO\DYHUDJH
$XVWUDOLD%UD]LO1RUZD\DQG,QGLDDFFRXQWLQJIRU cash price for high-grade aluminium fell from a record
DERXW WKUHH TXDUWHUV RI WKH ZRUOG RXWSXW RI SULPDU\ high of $3,070 per ton in July 2008 to $1,329 per ton in
aluminium. Globally, there are some 200 smelters )HEUXDU\DV/0(VWRFNVLQFUHDVHGIURPPLOOLRQ
that produce primary aluminium, half of which are tons to 3.2 million tons.
3KRVSKDWHV
95
7KH SULFH RI SKRVSKDWH URFN LQ UHFHQW \HDUV KDV
LQFUHDVHG VLJQL¿FDQWO\ RZLQJ WR ULVLQJ DJULFXOWXUDO
GHPDQGIRUIRRGXVHDQLPDOIHHGDQGELRIXHOVDQG
tight supplies. ,QDYHUDJHVSRWSULFHVIURP1RUWK
$IULFDDQGRWKHUH[SRUWLQJUHJLRQVDSSURDFKHG
SHUWRQZKLFKZDVPRUHWKDQ¿YHWLPHVWKHDYHUDJH
IRUWKHSUHYLRXV\HDU7KLVKDVKDGDNQRFNRQHIIHFW
on the price of other forms of fertilizer, such as
nitrogen, potash and sulphur.
3KRVSKDWHV DUH XVHG IRU D YDULHW\ RI SXUSRVHV EXW
most commonly in the agricultural industry, which
accounts for more than 90 per cent of world phosphate
URFNFRQVXPSWLRQ3KRVSKDWHURFNPLQHUDOVDUHWKH
only significant global resources of phosphorus,
which is an essential element for plant nutrition
HJ OLTXLG DQG VROLG IHUWLOL]HUV DQG IRU DQLPDO
QXWULWLRQHJOLYHVWRFNDQGSRXOWU\IHHG,QGXVWULDO
7UHQGVLQEXONFDUULHUQHZEXLOGLQJV
applications for rock phosphates include anti-corrosion
agents, cosmetics, fungicides, ceramics, water ,QWRWDOWKHUHZHUHGU\EXONFDUULHUVGHOLYHUHGLQ
WUHDWPHQWDQGPHWDOOXUJ\3KRVSKDWHURFNUHVRXUFHV XSIURPWKHSUHYLRXV\HDU7KHLUFRPELQHG
occur principally as sedimentary marine phosphorites. WRQQDJHZDVPLOOLRQGZWXSIURPPLOOLRQGZW
7KH ODUJHVW VHGLPHQWDU\ GHSRVLWV
in 2007. As reported in chapter 2,
are found in northern Africa,
the tonnage of dry bulk ships on
… the tonnage of dry bulk
&KLQD WKH 0LGGOH (DVW DQG WKH ships on order in 2009
order in 2009 outstripped that of
8QLWHG6WDWHV6LJQL¿FDQWLJQHRXV outstripped that of any other
DQ\RWKHUYHVVHOW\SH7KHGU\EXON
RFFXUUHQFHV DUH IRXQG LQ %UD]LO vessel type.
tonnage order book represents
Canada, the Russian Federation
SHUFHQWRIWKHH[LVWLQJGU\EXON
DQG 6RXWK $IULFD 7KH ZRUOG¶V
ÀHHW,Q%UD]LOLDQRUHPLQHU
large complexes for phosphate rock are located in &RPSDQKLD9DOHGR5LR'RFH9$/(FDQFHOOHGDQ
WKH .KLELQ\ &RPSOH[ 5XVVLDQ )HGHUDWLRQ DQG RUGHU SODFHG LQ 0D\ IRU GHOLYHU\ LQ RI
WKH .DUD 7DX &RPSOH[ .D]DNKVWDQ DOWKRXJK YHU\ ODUJH RUH FDUULHUV 9/2&V ZLWK &KLQD¶V
Morocco remains the world’s major exporter, and the WKLUGODUJHVWVKLSEXLOGHU-LDQJVX5RQJVKHQJ+HDY\
United States the world’s major importer. Morocco’s ,QGXVWULHV7KHYHVVHOVELJJHUWKDQWKH%HUJH6WDKO,
exports accounted for nearly half of world shipments, ZHUHWREHGZWPHWUHVOHQJWKRYHUDOO
totalling 32 million tons, the bulk of which was /2$DQGPHWUHVZLGHZLWKDGUDIWRIPHWUHV
H[SRUWHG WR (XURSH DQG WKH$PHULFDV 6KLSPHQWV DQG D FDUERQ IRRWSULQW SHU FHQW ORZHU WKDQ WKDW
by lesser exporters in other African countries and RIWUDGLWLRQDO&DSHVL]HYHVVHOV7KHRUGHUIRU
WKH0LGGOH(DVWDFFRXQWHGIRUSHUFHQWRIZRUOG 9/2&VZRXOGKDYHPDGH9DOHWKHODUJHVWJOREDO
H[SRUWV /DUJH SKRVSKDWH UHVRXUFHV KDYH EHHQ RSHUDWRU RI 9/2&V DQG ZDV UHSRUWHG WR EH ZRUWK
LGHQWL¿HGRQWKHFRQWLQHQWDOVKHOYHVDQGRQVHDPRXQWV ELOOLRQWRWKH&KLQHVHVKLS\DUG$VRIWKHUH
LQWKH$WODQWLF2FHDQDQGWKH3DFL¿F2FHDQ
ZHUHRYHURUHFDUULHUVRIRYHUGZWRQRUGHU
IRUGHOLYHU\LQDQG+RZPDQ\RIWKHVHZLOO
In 2008, world mine production of phosphates increased DFWXDOO\EHGHOLYHUHGUHPDLQVWREHVHHQ7KHYHQWXUHLQWR
E\ DQ HVWLPDWHG SHU FHQW WR UHDFK PLOOLRQ VKLSRZQLQJVWDUWHGIRU9DOHLQDVGU\EXONUDWHV
WRQV (VWLPDWHG NQRZQ ZRUOG
EHJDQ WR FUHHS KLJKHU7KH UHDVRQ
UHVHUYHV RI URFN SKRVSKDWH KDYH
IRU WKH PRYH LQWR VKLSRZQLQJ FDQ
In 2008 world mine production
been put at around 18,000 million
be seen in the rising freight costs,
of phosphates increased by
tons. China and Morocco hold
which meant that by mid-2008 it
an
estimated
6.5
per
cent
to
DSSUR[LPDWHO\ SHU FHQW DQG
cost nearly $108 per ton to ship iron
SHUFHQWUHVSHFWLYHO\IROORZHG reach 167 million tons.
RUH IURP %UD]LO WR &KLQD HURGLQJ
by South Africa with 8 per cent
9DOH¶V FRPSHWLWLYHQHVV DJDLQVW WKH
DQG WKH 8QLWHG 6WDWHV ZLWK SHU FHQW7KH OHDGLQJ Australian iron ore producers who are closer to the Asian
SURGXFHUV RI URFN SKRVSKDWHV DUH 2&3 *URXS PDUNHWDQGKDYHFKHDSHUIUHLJKWFRVWV%\WKHHQGRI
0RURFFRWKH0RVDLF&RPSDQ\8QLWHG6WDWHVOD 2008, the collapse in dry bulk freight rates saw rates for
&RPSDJQLHGHVSKRVSKDWHVGH*DIVD7XQLVLDDQG VKLSSLQJLURQRUHIURP%UD]LOWR&KLQDGURSWRSHU
3&63KRVSKDWH8QLWHG6WDWHVDFFRXQWLQJIRUDERXW WRQIRUWKH¿UVWWLPHLQQHDUO\VHYHQ\HDUVXQGHUPLQLQJ
SHU FHQW SHU FHQW SHU FHQW DQG SHU FHQW WKHSURVSHFWVIRUYLDEOHRSHUDWLRQRID9/2&ÀHHWZLWK
UHVSHFWLYHO\RIZRUOGFDSDFLW\LQ
QHZDQGFRVWO\YHVVHOV
96
2.
Dry bulk freight rates
misery of those companies still standing. When Armada
6LQJDSRUH 3WH /WG ¿OHG IRU EDQNUXSWF\ LW ZDV RZHG
more than $100 million by Fortescue Metals, Ashapura
0LQHFKHP 3LRQHHU )UHLJKW )XWXUHV$WODV 6KLSSLQJ
%ULWDQQLD%XONDQG*ORU\:HDOWK20
A turning point in the fortunes of dry bulk shipowners
was reached in 2008 after four years of strong growth.
7KHGHPDQGIRUSUH2O\PSLFGHOLYHULHVOHGWRUHSRUWV
RIFRQJHVWLRQSUREOHPVLQ&KLQD%UD]LODQG$XVWUDOLD
helped tighten supply and lift freight rates at the start of 7KH GHFOLQLQJ HDUQLQJV PDUNHW QDWXUDOO\ DIIHFWHG WKH
the year. In northern China, high stockpiles of iron ore SULFHV RI YHVVHOV$ ILYH\HDUROG &DSHVL]H YHVVHO
LQWHUUXSWHGVFKHGXOHVDQGUHVXOWHGLQDQDYHUDJHGHOD\ cost $128 million at the start of 2008, then rose to
RIGD\VIRUYHVVHOVWREHUWKZKLOHLQ%UD]LOTXHXHV PLOOLRQLQ$XJXVWEHIRUHFORVLQJWKH\HDUDW
RIXSWRYHVVHOVZHUHUHSRUWHG$WWKH$XVWUDOLDQSRUW PLOOLRQ7KLVUDSLGGHFOLQHLQYHVVHOSULFHVIROORZHGWKH
RI1HZFDVWOHWKHUHZHUHYHVVHOV
GHFOLQHLQWKH%DOWLF([FKDQJH'U\
LQ WKH TXHXH ZDLWLQJ WR HQWHU WKH
Index, which peaked in May 2008
A turning point in the fortunes
port during June 2008, as a result of
and rapidly fell to record lows in
of dry bulk shipowners was
GHOD\VFDXVHGE\PDMRUÀRRGLQJ,Q
'HFHPEHU3ULFHVRIVHFRQG
reached in 2008 after four
HDUO\ ÀRRGLQJ LQ WKH UHJLRQ
KDQG&DSHVL]HYHVVHOVOHYHOOHGRII
years of strong growth.
again caused delays at the port.
GXULQJWKH¿UVWTXDUWHURIWR
UHDFKPLOOLRQLQ$SULODQGWKH
7KH %DOWLF ([FKDQJH 'U\ ,QGH[ %', SHUIRUPHG daily hire rate rose slightly to $21,300. Historically, these
VSHFWDFXODUO\GXULQJWKH¿UVWKDOIRIUHDFKLQJDQ ¿JXUHVFRPSDUHIDYRXUDEO\ZLWKWKHDYHUDJHHDUQLQJV
DOOWLPHKLJKRILQ0D\+RZHYHUE\WKHHQGRI RIEHORZSHUGD\IRUD&DSHVL]HYHVVHOLQWKH
WKH\HDUWKH%',KDGIDOOHQPRUHWKDQVHYHQWHHQIROG 1990s – a decade when the highest daily rate could not
WRSRLQWV,Q-XQHWKHDYHUDJHHDUQLQJVIRUD WRS
PRGHUQ&DSHVL]HVWRRGDWSHUGD\19+RZHYHU
by December 2008, rates had dropped tenfold to 7KH GU\ EXON PDUNHW FRQWLQXHV WR UHPDLQ YRODWLOH LQ
SHUGD\2QHDQDO\VWSXWWKHHDUQLQJUDWHVRI ,Q)HEUXDU\WKH%DOWLF([FKDQJH&DSHVL]H
&DSHVL]H 3DQDPD[ DQG 6XSUDPD[ YHVVHOV DW ,QGH[%&,GRXEOHGLWVYDOXHRYHUWKHSUHFHGLQJPRQWK
DQG UHVSHFWLYHO\ IRU D %', UDWH LQ WKH to reach 3,822 points, from an all-time low of 830 points
ORZ V7KXV WKH RYHU SHU FHQW GHFUHDVH LQ WKH LQ'HFHPEHU7KLVZDVDWWULEXWDEOHWRLQFUHDVHG
%',PRVWDIIHFWVWKHRZQHUVRIODUJHYHVVHOVVXFKDV LURQRUHH[SRUWVIURP$XVWUDOLDDQG%UD]LO6SRWHDUQLQJ
&DSHVL]H VKLSV ,QIRUPDWLRQ SURYLGHG DW ¿UVW KDQG WR IRUP%UD]LODSSURDFKHGSHUGD\XSIURPDURXQG
81&7$' UHYHDOV WKDW RZQHUV RI VPDOO YHVVHOV VXFK LQ'HFHPEHU,Q)HEUXDU\3DQDPD[DQG
DV D GZW GU\ EXONHU XVHG LQ FRDVWDO VKLSSLQJ Supramax earnings were around $10,000 per day –
experienced freight rate declines of around 30 per cent WZLFHWKHOHYHORIWKHSUHYLRXVPRQWK%\-XQH
LQ+RZHYHUDWWKHVHUDWHVVKLSRZQHUVDUH¿QGLQJ UDWHVIRU&DSHVL]HYHVVHOVHYHQVXUSDVVHGWKH
LWGLI¿FXOWWRPHHWWKHLUPDUJLQDOFRVWVLHWKHLUGDLO\ per day mark, although the sustainability of these rates
UXQQLQJFRVWVOHWDORQHSD\WKHLUFDSLWDOFRVWV&DSLWDO VHHPVXQOLNHO\JLYHQWKHLQFUHDVLQJVXSSO\IDFWRUZKLFK
FRVWVYDU\FRQVLGHUDEO\DQGDVKLSRZQHUZKRERXJKWD DYHUDJHVRQHQHZYHVVHOSHUGD\
YHVVHODWWKHKHLJKWRIWKHPDUNHWZLOOXQGRXEWHGO\¿QG
FXUUHQWUDWHVGLI¿FXOWDQGH[LWVWUDWHJLHVOLPLWHG6RPH 7KHSULFHRIEXONFDUULHUVKDVDOVRIDOOHQVLJQL¿FDQWO\
FRPSDQLHV VXFK DV %ULWDQQLD %XON$WODV 6KLSSLQJ D¿YH\HDUROG3DQDPD[YHVVHOFRVWLQJPLOOLRQ
DQG$UPDGD6LQJDSRUH3WH/WGKDYH¿OHGEDQNUXSWF\ LQ 'HFHPEHU ZDV YDOXHG DW PLOOLRQ
SURFHHGLQJV7KHGHULYDWLYHVPDUNHWZKLFKZDVULGLQJ LQ 1RYHPEHU 6KLSRZQHUV XQDEOH WR VHOO
high for some time, just kept falling in December 2008, WKHLU YHVVHOV IDFH RSHUDWLRQDO ORVVHV DQG SRVVLEOH
DQG WKH VSHFXODWLYH SRVLWLRQV WKDW WKHVH VKLSSLQJ FDSLWDOVTXHH]HVEURXJKWRQE\WKH¿QDQFLDOFULVLV
companies took worked against them. Not only were &RQVHTXHQWO\ VKLSRZQHUV DUH IDFHG ZLWK WKH VWDUN
WKH\VWUXJJOLQJWRPHHWWKHLUFDSLWDOUHSD\PHQWVKDYLQJ FKRLFHRIHLWKHUZLWKGUDZLQJVHUYLFHVRUOD\LQJXS
JHQHUDWHGEDUHO\HQRXJKPRQH\WRFRYHUWKHLUUXQQLQJ ships in an effort to restore rates.21
costs on the physical side, but they also had to meet
KHDY\PDUJLQFDOOVWRFROODWHUDOL]HWKHLUSRVLWLRQVZLWK In 2008, the tramp market for dry cargo, both time
EDQNVDQGRWKHUVKLSSLQJFRPSDQLHV7KLVRIFRXUVH DQGWULSFKDUWHUVFRQWLQXHGWRULVHRYHUWKHFRXUVH
had a knock-on effect, and bad debts added further to the RIWKH¿UVWKDOIRIWKH\HDUVHHWDEOH+RZHYHU
97
Table 31
Dry cargo freight indices, 2006–2009
Period
January
February
March
April
May
June
July
August
September
October
November
December
Annual average
Dry cargo tramp time
Dry cargo tramp trip
charter (1972 = 100)
charter (1985 = 100)
2006 2007 2008 2009 2006 2007 2008 2009
302 491 812 193 294 632 1 018 154
298 480 657 259 292 577 908 227
327 550 810 305 321 644 1 221 296
326 576 795 254 325 707 1 080 277
323 671 1 055 306 304 712 1 544 358
331 626 1 009 410 359 759 1 250
360 673 868
421 875 1 036
417 718 716
475 920 976
447 828 550
518 1 078 657
450 985 313
522 1 044 267
447 1 013 192
463 1 280 117
484 926 181
594 1 251 121
376 711 663 288 407 873 850 262
Source: UNCTAD secretariat, based upon various issues of Shipping Statistics
and Market Review produced by the Institute of Shipping Economics and
Logistics.
Note: All indices have been rounded to the nearest whole number.
the second half of the year saw a decline from
1,009 points in June to 181 points by December.
Similarly, the dry cargo tramp time charter declined
from 1,250 points in June to just 121 by December.
The peak month for both indices was May, with 1,055
points and 1,544 points respectively. The first quarter
of 2009 showed some small gains, although levels
were still around two thirds below their peak.
Dry bulk time charter (trips)
rates rose significantly in the first half of 2008, with
owners of the relevant ships receiving $112,765 per
day at the start of the year, compared to $66,630 for
the same period in 2007, and $192,845 by May 2008.
November 2008, however, marked a low point, with
rates down over 98 per cent, standing at a mere
$2,640 per day.
Dry bulk time charter (periods)
Estimates of rates for 12-month period charters
In 2008, freight rates for Capesize tonnage chartered (prompt delivery) indicate that rates for the first half
for transatlantic round trips experienced a rollercoaster of 2008 rose to reach a peak in June, before declining
ride. Rates were at $111,835
significantly. Capesize ships of
per day in January, rising to a
200,000 dwt aged five years
In 2008 freight rates for
high of $220,385 in May, before
fetched $125,000 per day at the
Capesize tonnage chartered
plummeting to end the year over
start of 2008 – against $63,000
for transatlantic round trips
97 per cent lower at a mere
for the same period in 2007 –
experienced a rollercoaster ride.
$5,055 per day. Rates on the
and peaked at $176,200 in June.
Singapore–Japan to Australia
The period from January 2008
route showed a similar trend to that observed on the to January 2009 saw an 82 per cent decline in rates
transatlantic route. For Capesize tonnage deployed for a one- to five-year-old Capesize of 170,000 dwt.
on the Singapore–Japan to Australia route, freight Freight rates for Panamax ships of 75,000 dwt aged
98
¿YH\HDUVVWDUWHGDWSHUGD\LQ-DQXDU\XS
from $31,000 in January 2007, but ended the year
down, at $10,000 per day. Freight rates for Handymax
ships of 28,000 dwt aged 10 years saw a decline from
SHUGD\LQ-DQXDU\WRSHUGD\
by December 2008.
'U\EXONWULSFKDUWHU
,URQRUHIUHLJKWUDWHVIURP%UD]LOWR&KLQDVWDUWHG
DWSHUWRQXSIURPSHUWRQWKHSUHYLRXV
\HDU%\0D\WKLV¿JXUHKDGUHDFKHGSHU
WRQEXWLWHQGHGWKH\HDUDWDPHUHSHUWRQ7KH
IUHLJKWUDWHVIRU-DQXDU\RYHU-DQXDU\VKRZHG
DQ SHU FHQW ULVH KRZHYHU -DQXDU\ VKRZHG D
GHFOLQHRIDURXQGSHUFHQWZKHQFRPSDUHGWR-DQXDU\
2008. A similar picture emerges for all other routes, as
the effects of the global economic downturn curtailed
the demand for raw materials.
1.
Developments in the liner trade
*HQHUDOGHYHORSPHQWV
7KH PRVW QRWDEOH GHYHORSPHQW LQ WKH OLQHU WUDGH LQ
2008 was the repeal of the block exemption that liner
FRQIHUHQFHV KDG UHFHLYHG LQ WKH (XURSHDQ 8QLRQ
with regard to price and capacity setting. As of
2FWREHUIRUPHUPHPEHUVRIWKH)DU(DVW)UHLJKW
&RQIHUHQFHKDYHKDGWRHVWDEOLVKWKHLURZQWDULIIVDQG
surcharges, resulting in different rates and amounts
DSSOLHGDFURVVWKHERDUG7KHPXOWLSOLFLW\DQGYDULHW\RI
rates applied by shipping companies are putting an extra
EXUGHQRQVKLSSHUVZKRKDYHWRPDNHDGGLWLRQDOHIIRUWV
WRNHHSWUDFNRIWKHPDOO7RGDWHQRRWKHUFRXQWULHV
RUUHJLRQVDUHUHSRUWHGWRKDYHSXUVXHGWKH(XURSHDQ
Union approach.
)LJXUHV SXEOLVKHG E\ WKH (XURSHDQ /LQHU $IIDLUV
$VVRFLDWLRQ(/$$VKRZWKDWFRQWDLQHUYROXPHVRQWKH
$VLD±(XURSHWUDGHIHOOE\DURXQGSHUFHQWLQ
D.
THE LINER SHIPPING MARKET22
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Introduction
compared to the boom of 2007. In an effort to shore up
7KH OLQHU VKLSSLQJ PDUNHW LV PDLQO\ VHUYHG E\ UDWHVDIWHUWKHDEROLVKPHQWRI(XURSHDQOLQHUFRQIHUHQFHV
FRQWDLQHU VKLSV DQG UHSUHVHQWV DURXQG SHU $3/+DSDJ/OR\GDQG02/DOODQQRXQFHGLQFUHDVHV
cent of world goods loaded in
LQ WKHLU UDWHV WR OHYHOV KLJKHU WKDQ
YROXPH WHUPV WRQV :KLOH … container volumes on the
the spot price from 1 April 2009.
most items can be transported
As an additional measure to absorb
Asia–Europe trade fell by
in containers, including cargoes
capacity, some operators re-routed
around 15 per cent in 2008.
SUHYLRXVO\WUDQVSRUWHGLQEXONDQG
WKHLURSHUDWLRQVIURP(XURSHWR$VLD
components of products, containers
to transit the longer Cape of Good
PDLQO\FDUU\¿QLVKHGSURGXFWVUHDG\IRUFRQVXPSWLRQ +RSHURXWH:KLOHWKLVLQFUHDVHGDYHUDJHVDLOLQJWLPHV
In 2008, the total world containerized trade was RQWKDWURXWHE\VHYHQGD\VDQGEXQNHUVFRQVXPSWLRQE\
HVWLPDWHGDWELOOLRQWRQVDQLQFUHDVHRISHU around 30 per cent, the route eliminates transit fees for
FHQWRYHUWKHSUHYLRXV\HDU23 Full container trade is the Suez Canal. In some cases, this re-routing brought
HVWLPDWHGDWPLOOLRQ7(8VLQ7KHVKDUH DERXWVDYLQJVRIRYHUIRUWKHODUJHVWVKLSVHYHQ
of containerized trade, as part of the world’s total dry after allowing for extra fuel and crew costs. With rising
FDUJRLQFUHDVHGIURPSHUFHQWLQWRSHU IXHO FRVWV KRZHYHU WKH ORQJWHUP YLDELOLW\ RI ORQJHU
FHQW LQ 7KH UDSLG JURZWK LQ FRQWDLQHUL]DWLRQ URXWHVZLOOFRPHLQWRTXHVWLRQ
RYHUWKHODVW\HDUVLVWKHUHVXOWRIDFRPELQDWLRQRI
factors that includes dedicated purpose-built container $V D FRQVHTXHQFH RI UHURXWLQJ UHYHQXHV IRU WKH
YHVVHOVODUJHUYHVVHOVFDSDEOHRIDFKLHYLQJLQFUHDVHG 6XH] &DQDO IHOO E\ RYHU SHU FHQW LQ$SULO HFRQRPLHVRIVFDOHLPSURYHGKDQGOLQJIDFLOLWLHVLQ compared to the same period in 2008. During April 2009,
ports, and also the increasing amount of raw materials YHVVHOVWUDQVLWHGWKHFDQDOLQFXUULQJIHHVRI
being carried in containers, for example base metals PLOOLRQ7KLVWUDQVODWHVLQWRDQDYHUDJHUDWHRIDURXQG
such as copper cathodes and copper concentrates. SHUYHVVHODOWKRXJKWKHODUJHVWFRQWDLQHUVKLSV
7KHÀHHWRIFRQWDLQHUVKLSVLQFUHDVHGE\PLOOLRQ can expect to pay twice that amount for a single transit.
GZWRUSHUFHQWWRUHDFKPLOOLRQGZWZKLFK Interestingly, in May 2009, MSC, which had re-routed
LVDSSUR[LPDWHO\SHUFHQWRIWKHWRWDOZRUOGÀHHW LWV HDVWERXQG WUDI¿F DURXQG WKH &DSH RI *RRG +RSH
$WWKHEHJLQQLQJRIWKHUHZHUHFRQWDLQHU UHYHUVHGLWVGHFLVLRQZLWKVRPHDQDO\VWVEHOLHYLQJLWKDG
VKLSVZLWKDWRWDOFDSDFLW\RIPLOOLRQ7(8V
negotiated a discount with the Suez Canal Authority.
,QDGGLWLRQWRVDYLQJIXHODQGDEVRUELQJVSDUHFDSDFLW\
UHURXWLQJVKLSVDURXQGWKH&DSHRI*RRG+RSHDYRLGV
the piracy hot spot off Somalia and the need to purchase
additional insurance. It has been reported that insurance
costs for piracy attacks rose more than tenfold in 2008.
7KHUHZHUHUHSRUWHGDWWDFNVRISLUDF\RII6RPDOLDLQ
D¿JXUHZKLFKHDUO\DQDO\VLVRIGDWDVXJJHVWV
will double.
)ROORZLQJDGHFOLQHLQWUDI¿FYROXPHVWKHOLQHUVKLSSLQJ
FRPSDQ\(YHUJUHHQDQQRXQFHGVHUYLFHDQGSHUVRQQHO
reductions in early 2009 relating to trade on the route
IURP$VLD WR WKH 3DFL¿F 7KH OLQHU VKLSSLQJ LQGXVWU\
in 2008 followed a trend similar to the tanker and dry
EXONVHFWRUVPHQWLRQHGHDUOLHU±ZLWKDVWURQJ¿UVWKDOI
IROORZHGE\DZHDNVHFRQGKDOIDVWKHJOREDO¿QDQFLDO
FULVLVVSUHDG2YHUDOOWKRXJKZDVQRWDEDG\HDU
IRURZQHUVRIOLQHUVKLSVZLWKDYHUDJHUDWHVIRUVPDOOHU
YHVVHOVDERYHWKHLUOHYHOV
As reported in chapter 2, the total seaborne containerFDUU\LQJÀHHWFDSDFLW\LQFOXGLQJIXOO\FHOOXODUFDSDFLW\
VWRRG DW PLOOLRQ 7(8V LQ $ ODUJH QXPEHU
of newbuildings were ordered in 2008, whereas up to
WKH¿UVWKDOIRIQRRUGHUVIRUQHZFRQWDLQHUVKLSV
ZHUHSODFHG9HU\OLWWOHWRQQDJHZDVUHSRUWHGEURNHQXS
in 2008: around 728,000 dwt from January to October.
7KHODVWLQDVHULHVRIHLJKWEHKHPRWKFRQWDLQHUVKLSV
IURP0DHUVN/LQH±WKH7(8(XJHQ0DHUVN–
HQWHUHGVHUYLFHLQDVZHOODVWKH7(806&
'DQLHOD which is owned and operated by the SwissEDVHG0HGLWHUUDQHDQ6KLSSLQJ&RPSDQ\06&
99
HFRQRPLHV ZHUH IURP GHYHORSHG HFRQRPLHV DQG
none were from countries with economies in transition.
$VLDQ HFRQRPLHV GRPLQDWHG WKH OLVW ± WKHUH ZHUH FRPSDQLHVIURPWKDWUHJLRQIURP(XURSHDQGIURP
/DWLQ$PHULFD7KHUHZDVRQHQHZPHPEHURQWKHOLVW
of the top 20 liner shippers, which entered at position 18
– namely the United Arab Shipping Company,
KHDGTXDUWHUHGLQ.XZDLWDQGRSHUDWLQJIURP'XEDLZLWK
YHVVHOVDQGDFDUU\LQJFDSDFLW\RI7(8V7KH
United Arab Shipping Company caused a stir in 2008
ZKHQLWUHYHDOHGDELOOLRQQHZEXLOGLQJFRQWUDFWIRU
QLQHFRQWDLQHUYHVVHOVRI7(8V02/+DQMLQDQG
+00DOOPRYHGXSWZRSODFHVGXULQJWRSRVLWLRQV
DQG UHVSHFWLYHO\$3/ DQG<DQJ 0LQJ ERWK
PRYHGXSRQHSODFHWRSRVLWLRQVDQGUHVSHFWLYHO\
&KLQD6KLSSLQJ&RQWDLQHU/LQHV&6&/./LQHDQG
3DFL¿F ,QWHUQDWLRQDO /LQHV 3,/ HDFK ORVW JURXQG E\
RQHSODFHWRRFFXS\SRVLWLRQVDQGUHVSHFWLYHO\
:DQ+DLIURP7DLZDQ3URYLQFHRI&KLQD±ZKLFKZDV
IRUPHUO\UDQNHGLQSRVLWLRQ±PRYHGRXWRIWKHWRS
20 as a result of a retrenchment programme to reduce
the number of ships it operates. Despite this, Wan Hai
increased its container-carrying capacity in 2008, and
DJUHHGZLWK3DFL¿F,QWHUQDWLRQDO/LQHVWRHQWHULQWRD
long-term strategic partnership.
0DHUVN /LQH PDLQWDLQHG LWV OHDG SRVLWLRQ FORVHO\
IROORZHGE\06&DQG&0$&*0+RZHYHUWKHJDS
EHWZHHQ¿UVWDQGVHFRQGSRVLWLRQFRQWLQXHGWRQDUURZ
IURP7(8WRMXVW7(8'XULQJ
06&JUHZE\SHUFHQWDQG&0$&*0JUHZE\
SHUFHQWZKLOHWKHPDUNHWOHDGHU±0DHUVN/LQH
± JUHZ E\ MXVW SHU FHQW RYHU WKH SUHYLRXV \HDU
0DHUVN/LQH¶VPDUNHWVKDUHLQWHUPVRIÀHHWFDSDFLW\
0DMRUOLQHUVKLSSLQJRSHUDWRUV
UHSRUWHGO\ IHOO IURP SHU FHQW WR SHU FHQW
2YHUWKHFRXUVHRIWKHFDUU\LQJFDSDFLW\RIWKHWRS between January 2008 and April 2009, whereas MSC’s
10 global container ship operators increased by 11 per VKDUHZHQWIURPWRSHUFHQW,QZKHQ
FHQW±GRZQIURPWKHSUHYLRXV\HDU¶V
0DHUVN DFTXLUHG 32 1HGOOR\G
JURZWK UDWH RI SHU FHQW ± WR On 1 January 2009, the
LWV PDUNHW VKDUH LQ WHUPV RI ÀHHW
UHDFKPLOOLRQ7(8VWDEOH 20 leading operators
FDSDFLW\H[FHHGHGSHUFHQW7KH
7KLV LV VRPHZKDW ORZHU WKDQ WKH accounted for about 69 per
only major change in ownership
H[FHSWLRQDOO\KLJKJDLQVRISHU cent of the total container
with the top 20 liner companies
capacity
deployed,
down
by
FHQWDFKLHYHGLQ2YHUDOOWKH
ZDVZLWK+DSDJ/OR\GZKLFKZDV
around 1 per cent on 2008.
share of the top 20 liner operators
VROGE\LWVSDUHQWFRPSDQ\78,WRD
LQLQFUHDVHGE\SHUFHQW
Hamburg consortium in late 2008.
WR UHDFK PLOOLRQ 7(8V ,Q WKH SUHYLRXV \HDU WKH
fleet of the top 20 liner companies had grown by )LQDQFLDOSHUIRUPDQFHRIWKHPDMRUVKLSSLQJOLQHV
SHUFHQWKHOSLQJWRFRQFHQWUDWHWKHOLQHUPDUNHW
On 1 January 2009, the 20 leading operators accounted 7KH¿QDQFLDOSHUIRUPDQFHRIWKHPDMRUOLQHUVKLSSLQJ
IRU DERXW SHU FHQW RI WKH WRWDO FRQWDLQHU FDSDFLW\ companies in 2008 was significantly lower than in
deployed, down by around 1 per cent on 2008. Within SUHYLRXV \HDUV DV WKH JOREDO ¿QDQFLDO FULVLV EHJDQ WR
WKHWRSOLQHUFRPSDQLHVZHUHIURPGHYHORSLQJ LPSDFWRQZRUOGWUDGHLQWKHODVWTXDUWHU0DHUVN/LQH
100
7DEOH
The 20 leading service operators of container ships at the beginning of 2009
QXPEHURIVKLSVDQGWRWDOVKLSERDUGFDSDFLW\GHSOR\HG7(8V
Ranking Operator
Number of ships
in 2009
280
181
132
128
121
109
83
2 032
90
82
99
81
82
TEU capacity
in 2009
387 107
7 389 663
Total 1–20
2 784
9 951 392
:RUOGFRQWDLQHUFHOOXODUÀHHWDW-DQXDU\
9 447
14 429 080
1
2
3
4
5
6
7
8
9
10
Subtotal
11
12
13
14
15
16
17
18
19
20
Country/territory
0DHUVN/LQH
MSC
CMA-CGM Group
(YHUJUHHQ
+DSDJ/OR\G
COSCON
$3/
&6&/
02/
Hanjin
Denmark
Switzerland
France
Germany
China
Singapore
China
Japan
Republic of Korea
22&/
NYK
Yang Ming
./LQH
HMM
Hamburg Sud
Zim
UASC
3,/
&6$9
+RQJ.RQJ&KLQD
Japan
Japan
Republic of Korea
Germany
Israel
Kuwait
Singapore
Chile
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http://www.ci-online.co.uk.
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prospects for the world’s number one liner company were
ORRNLQJYHU\FKDOOHQJLQJ&0$&*0¶VSUR¿WVGURSSHG
LQ E\ DURXQG SHU FHQW IURP PLOOLRQ LQ
WR PLOOLRQ DV IUHLJKW UDWHV SOXPPHWHG RQ
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of scope for CMA-CGM to reduce operating costs.27
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WR UHDFK PLOOLRQ 7(8V &26&2¶V UHYHQXH LQ
LQFUHDVHGE\SHUFHQWWRELOOLRQ\XDQ
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ELOOLRQ LQ ZKHQ WKH FRPSDQ\ PRYHG
PLOOLRQ7(8VDERXWSHUFHQWPRUHWKDQLQ
1HSWXQH2ULHQW/LQHVUHSRUWHGDQHWSUR¿WIRURI
PLOOLRQZKLFKZDVSHUFHQWORZHUWKDQLQ
GHVSLWHLQFUHDVLQJWRWDOUHYHQXHE\SHUFHQWWR
ELOOLRQ02/¶VUHYHQXHGHFUHDVHGE\SHUFHQWLQ
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while operating income plunged by 32 per cent to
ELOOLRQELOOLRQDQGQHWLQFRPHE\SHU
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&RQWDLQHU/LQHV&6&/VDZUHYHQXHGURSE\SHUFHQW
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GLYLVLRQDFKLHYHGUHYHQXHVRIWULOOLRQZRQXSE\
SHUFHQWRZLQJWRWKHLQFUHDVHGWUDQVSDFL¿FIUHLJKW
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7KH SUHVVXUH IRU ORZHU IUHLJKW UDWHV LV EHLQJ IXHOOHG
by the global economic downturn combined with dire
IRUHFDVWVIRUZRUOGWUDGH7KHUHSRUWVRIYHVVHOVO\LQJ
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are exacerbated by the rising cost of fuel.
101
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EHORZWKHLU\HDUOHYHOV
)UHLJKWUDWHVRQPDLQURXWHV
7DEOH VKRZV WKH IUHLJKW UDWHV RQ WKH WKUHH PDLQ
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the three major routes during 2008. A comparison of
WKH IRXUWK TXDUWHU UHVXOWV IURP DQG IURP VXJJHVWWKDWWKHURXWHVIURP(XURSHWR$VLDIURPWKH
8QLWHG6WDWHVWR(XURSHDQGLQERWKGLUHFWLRQVRQWKH
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GHFUHDVHG RQ WKH$VLD WR (XURSH DQG WKH (XURSH WR
United States routes during the same period. Freight rates
RQWKH$VLD±(XURSHURXWHKDGGURSSHGWRDQDOOWLPHORZ
RI]HURE\HDUO\7KHVRFDOOHG³]HURÚDWHVZHUH
RQO\SRVVLEOHEHFDXVHRWKHULQHVFDSDEOHFRVWVLQYROYHGLQ
KDQGOLQJFDUJRZHUHELOOHGDVH[WUDV7KH¿JXUHVVKRZQ
LQ WDEOH KRZHYHU LQFOXGH WKHVH H[WUD FRVWV HJ
currency adjustment factors, bunker adjustment factors
DQGWHUPLQDOFKDUJHVWRJLYHDPRUHDFFXUDWH¿JXUHRI
freight rates along selected routes.
As mentioned earlier, as of 18 October 2008, liner
FRQIHUHQFHVWRDQGIURPWKH(XURSHDQ8QLRQZHUH
SURKLELWHGDQGDVDFRQVHTXHQFHWKHPDLQVRXUFH
&KDUWHULQJRIFRQWDLQHUVKLSV
RIIUHLJKWUDWHVRQWKHVHURXWHV±WKH)DU(DVW)UHLJKW
German shipowners dominate the global liner shipping &RQIHUHQFH ± QR ORQJHU H[LVWV /LQHU FRPSDQLHV
PDUNHWZLWK+DPEXUJEURNHUVFRQWUROOLQJDERXWSHU DUH FDXWLRXV RI UHYHDOLQJ UDWHV IRU IHDU RI WKLV
FHQWRIWKHFRQWDLQHUVKLSFKDUWHUWRQQDJHDYDLODEOH6LQFH EHLQJ LQWHUSUHWHG DV SULFH ¿[LQJ 7KH (XURSHDQ
/LQHU$IIDLUV$VVRFLDWLRQDWUDGH
1998, the Hamburg Shipbrokers’
association set up in the wake of
$VVRFLDWLRQ9+66KDVSXEOLVKHG
WKHFORVXUHRIWKH)DU(DVW)UHLJKW
WKH+DPEXUJ,QGH[ZKLFKSURYLGHV By April 2009, freight rates for
most vessels were below their
Conference, reported a decrease
a market analysis of container ship
year 2000 levels.
LQ WUDGH YROXPHV LQ WKH ILUVW
time charter rates of a minimum
TXDUWHURIRQWKH(XURSHWR
GXUDWLRQRIWKUHHPRQWKV7DEOH
SUHVHQWVWKHDYHUDJH\HDUO\UDWHVVLQFHWKH\HDU Asia route of 22 per cent on the westbound route
and monthly charter rates for container ships for 2008, from Asia and of 17 per cent on the eastbound
URXWHWR(XURSH7UDGHYROXPHVRQWKHWUDQVDWODQWLF
DVSXEOLVKHGE\9+66
ZHVWERXQG URXWH WR 1RUWK$PHULFD LQ WKH ¿UVW
$YHUDJH \HDUO\ FKDUWHU UDWHV IRU RI WKH W\SHV RI TXDUWHURIDOVRGHFUHDVHGE\SHUFHQWZKLOH
YHVVHOVVKRZQLQWDEOHIHOOLQIUHLJKWUDWHVIRU RQ WKH HDVWERXQG URXWH WR (XURSH YROXPHV ZHUH
YHVVHOV EHWZHHQ DQG 7(8V GHFOLQHG WKH down by 30 per cent.
PRVW±E\SHUFHQW(DUQLQJVIRUJHDUHGJHDUOHVV
YHVVHOV EHWZHHQ DQG 7(8V DFWXDOO\ JUHZ E\ 7DEOHLQGLFDWHVWKHGHYHORSPHQWRIOLQHUIUHLJKW
DOPRVWSHUFHQWDQGWKRVHIRUJHDUHGJHDUOHVVYHVVHOV rates on cargoes loaded or discharged by liners at
RI ± 7(8V RQO\ LPSURYHG PDUJLQDOO\ 7KLV LV ports of the German coastal range for the period
remarkable considering the decline experienced across ± 7KH DYHUDJH RYHUDOO LQGH[ IRU WKH VKLSSLQJ PDUNHW DV D ZKROH :KLOH DYHUDJH UDWHV GHFUHDVHGE\SRLQWVIURPWKHOHYHOWRUHDFK
ZHUHKLJKHULQWKDQWKHSHDNUHJLVWHUHGLQ SRLQWV WKH EDVH \HDU RI LV HTXDO WR the declines at the end of the year continued well into SRLQWV7KHDYHUDJHKRPHERXQGLQGH[LQFUHDVHGE\
2.
Container freight rates
102
7DEOH
Container ship time charter rates
SHUWRQVORWGD\
Ship type
Yearly averages
7(8V
2000 2001 2002 2003 2004 2005 2006 2007
Gearless
200–299
31.71 27.22 300–500
21.73 22.27 2008
Geared/Gearless
2,000–2,299
7.97
a
2,300–3,400
13.82 9.29 10.18 Geared/Gearless
200–299
17.77 17.81 17.01 18.93 27.00 29.78 32.12
300–500
28.82 21.39
b
23.70 c
9.11 12.07 18.37 600–799
700–999
1,000–1,299
11.87
8.78
1,600–1,999
7.97
11.77 12.79 10.77
Ship type
Monthly averages for 2008
7(8V
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Gearless
200–299
29.23 28.77 29.10 29.87 23.89 20.31 300–500
22.37 23.77 21.88 23.82 13.91
9.78
13.18 13.10 12.78 11.98 Geared/Gearless
2,000–2,299
a
2 300–3,400
9.20
10.97 11.31 10.82 10.82 Geared/Gearless
32.39 30.70 200–299
23.37 22.22 21.33 300–500
b
18.27 c
17.39 18.18 17.21 1,000–1,299
10.89 10.19
9.37
1,600–1,999
13.09 11.30
7.13
600–799
700–999
103
7DEOHFRQWLQXHG
Ship type
Monthly averages for 2009
7(8V
Jan
Feb
Mar Apr May
Jun
Gearless
200–299
13.22 300–500
9.13
8.79
3.22
3.22
2.79
2.31
Geared/Gearless
2,000–2,299
a
2 300–3,400
Geared/Gearless
200–299
18.21 17.17 17.17 300–500
9.37
10.99
b
7.19
c
700–999
1,000–1,299
1,600–1,999
3.71
3.22
3.79
3.82
600–799
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DYDLODEOH DW KWWSZZZYKVVGHKD[BSGI DQG IURP 6KLSSLQJ 6WDWLVWLFV DQG 0DUNHW 5HYLHZ YROXPH QXPEHU±SURGXFHGE\WKH,QVWLWXWHRI6KLSSLQJ(FRQRPLFVDQG/RJLVWLFV
a
7KLVFDWHJRU\ZDVFUHDWHGLQ7KHGDWDIRUWKH¿UVWKDOIRIWKH\HDUFRUUHVSRQGWRFHOOXODUVKLSVLQWKHUDQJH
±7(8VVDLOLQJDWNQRWVPLQLPXP
b
Sailings at 17–17.9 knots.
c
Sailings at 18 knots minimum.
SRLQWVWRRYHUWKH\HDU7KHPRQWKO\¿JXUHV
indicate a gradual strengthening of rates, with a
sharp decline in December 2008. In the outbound
WUDGHWKHDYHUDJHOHYHOLQGHFOLQHGWRSRLQWVD
UHGXFWLRQRISRLQWVZLWKDORZRILQ'HFHPEHU
VLJQLI\LQJDVKDUSGURSLQWUDGHIURP(XURSHWR$VLD
E.
CONTAINER PRODUCTION28
Introduction
)RUWKH¿UVWWKUHHTXDUWHUVRIFRQWDLQHUSURGXFWLRQRXWSXW
FRQWLQXHGPXFKWKHVDPHDVLQ+RZHYHUGXULQJWKHODVW
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the end of the year, the total number of new boxes produced
±PLOOLRQ7(8V±ZDVDOPRVWSHUFHQWOHVVWKDQLQWKH
SUHYLRXV \HDU 3ULRU WR WKLV FRQWDLQHU SURGXFWLRQ KDG EHHQ
LQFUHDVLQJVLJQL¿FDQWO\ZLWKSHUFHQWJURZWKLQDQG
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7KHDYHUDJHSULFHRIQHZFRQWDLQHUVLQZDVVWLOO
KLJKHUWKDQLQKRZHYHUSULFHVZHUHH[SHFWHGWR
drop in 2009 as the market reacted to the lower demand
IRUQHZER[HV7KHJURZWKRIWUDGHDQGWKHH[SDQVLRQ
RIWKHZRUOG¶VFRQWDLQHUVKLSÀHHWFKDSWHUFRQWLQXHG
WR GULYH WKH SULFH RI FRQWDLQHUV XSZDUGV GXULQJ WKH
¿UVW WKUHH TXDUWHUV RI WDEOH $V WKH UDWH RI
GHOLYHULHVRIQHZYHVVHOVLQFUHDVHGWKHGHPDQGIRUQHZ
FRQWDLQHUVLQFUHDVHGH[SRQHQWLDOO\7KHUDWLRRIFRQWDLQHU
VKLSFDUU\LQJFDSDFLW\WRWKHZRUOGÀHHWRIFRQWDLQHUV
LVDSSUR[LPDWHO\WR$7(8VKLSUHTXLUHV
DSSUR[LPDWHO\7(8WRVHUYHLWVQHHGVDVVRPH
containers are needed for loading, some for discharge
and others carried onboard.
Increases in the costs of raw materials, especially Corten
VWHHOZHUHDOVRDIDFWRULQWKHKLJKSULFHRIQHZER[HV7KH
price was pushed upwards to adjust for the high demand
while container-producing factories were operating at
104
7DEOH
Freight rates (market averages) per TEU on the three major liner trade routes
SHU7(8DQGSHUFHQWDJHFKDQJH
7UDQV3DFL¿F
2007
First quarter
Change (%)
Second quarter
Change (%)
Third quarter
Change (%)
Fourth quarter
Change (%)
2008
First quarter
Change (%)
Second quarter
Change (%)
Third quarter
Change (%)
Fourth quarter
Change (%)
2009
First quarter
Change (%)
Second quarter
Change (%)
Europe–Asia
Transatlantic
Asia–US
US–Asia
Europe–Asia Asia–Europe US–Europe
Europe–US
1878
-2
2
1 709
2
1 707
0
737
780
2
2
-1
792
21
1709
0
7
21
2 109
1009
1 032
-3
3
- 89
931
-2
1
1 707
2
3
1 890
-2
987
17
1 170
19
2
11
3
1 109
-3
2 030
1 937
1 837
- 12
7
1 381
10
19
1 731
-2
-1
0
- 12
1 383
- 21
913
802
- 12
- 23
- 13
1 023
- 37
897
- 12
-3
- 17
- 12
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1RWHV 7KHIUHLJKWUDWHVVKRZQDUH³DOOLQ´WKDWLVWRVD\WKH\LQFOXGHFXUUHQF\DGMXVWPHQWIDFWRUVDQGEXQNHUDGMXVWPHQW
IDFWRUVSOXVWHUPLQDOKDQGOLQJFKDUJHVZKHUHJDWHJDWHUDWHVKDYHEHHQDJUHHGDQGLQODQGKDXODJHZKHUHFRQWDLQHU
\DUGFRQWDLQHU\DUGUDWHVKDYHEHHQDJUHHG$OOUDWHVDUHDYHUDJHUDWHVRIDOOFRPPRGLWLHVFDUULHGE\PDMRUFDUULHUV
5DWHVWRDQGIURPWKH8QLWHG6WDWHVUHIHUWRWKHDYHUDJHIRUDOOWKUHHFRDVWV
XWLOL]DWLRQUDWHDYHUDJLQJSHUFHQW1HZVWDQGDUG7(8
SULFHVZHQWXSE\PRUHWKDQSHUFHQWEHWZHHQWKH¿UVW
DQGVHFRQGTXDUWHUVRIDQGE\SHUFHQWEHWZHHQ
WKHVHFRQGDQGWKLUGTXDUWHUV&RQWDLQHUSULFHVIHOOE\
DOPRVWSHUFHQWWRGXULQJWKHODVWTXDUWHURI
2008, when demand for containers suddenly dropped
DQGWKHÀHHWH[SDQVLRQRIFRQWDLQHUVKLSVOHYHOOHGRII
%HVLGHVKDYLQJWRORZHUSULFHVWRDWWUDFWFXVWRPHUVLQD
weak market, producers were forced to cut costs, and the
XWLOL]DWLRQOHYHORIIDFWRULHVGHFOLQHGWRSHUFHQW$W
WKHEHJLQQLQJRIWKHXWLOL]DWLRQOHYHORIIDFWRULHV
VWRRGDWDSSUR[LPDWHO\PLOOLRQ7(8VSHUDQQXP±OHVV
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2008 China remained the major producer of new boxes,
the impact of the crisis led to immediate and drastic
cost-cutting measures, such as the closure of many box
IDFWRULHVDQGWKHOD\RIIRIZRUNHUV7KHVXEVHTXHQWIDOO
in the cost of raw materials helped somewhat in bringing
down the price of new boxes. Figure 22 shows the yearly
trend of new boxes for the 2001–2008 period.
105
7DEOH
Liner freight indices, 2006–2009
PRQWKO\¿JXUHV Overall index
Month
Homebound index
Outbound index
2006
2007
2008
2006
2007
2008
2006
2007
2008
January
89
98
98
113
81
83
February
88
98
113
80
80
March
92
97
110
78
77
April
87
88
100
113
77
May
101
88
89
92
101
107
110
June
92
89
113
81
July
89
113
80
August
98
93
92
118
107
103
81
81
September
98
97
92
121
113
100
October
97
90
93
119
97
77
November
91
97
89
101
93
December
87
100
73
118
83
88
88
100
90
97
109
110
81
77
Annual average
6RXUFH &RPSLOHGE\WKH81&7$'VHFUHWDULDWRQWKHEDVLVRILQIRUPDWLRQLQ6KLSSLQJ6WDWLVWLFVDQG0DUNHW5HYLHZYROXPH
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7DEOH
:RUOGFRQWDLQHUÀHHW
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2005
2006
2007
2008
Global
Lessor
9 380
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1 August 2008.
106
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At the end of 2008, alongside the fall in the price
of new boxes, the leasing rate also fell, to less than
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7(8 DQG WR OHVV WKDQ IRU )(8 IRUW\IRRW
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while ocean carriers and other operators purchased
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container rentals were disposed of, putting the
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Figure 22
Evolution of prices of new containers
SHUER[
4500
40ft HC
4000
40ft
3500
US Dollar
3000
2500
20ft
2000
1500
1000
500
0
2001
2002
2003
2004
2005
2006
2007
6RXUFH 81&7$'VHFUHWDULDWEDVHGXSRQ&RQWDLQHULVDWLRQ,QWHUQDWLRQDOYDULRXVLVVXHV
2008
107
Figure 23
Evolution of leasing rates
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1.4
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1
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0.6
0.4
0.2
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Q1 2007
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ENDNOTES
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China.
20
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2009 issues.
Chapter 5
PORT AND MULTIMODAL TRANSPORT DEVELOPMENTS
This chapter covers container port throughput improvements in port performance, institutional change, port
development and inland transportation. World container port throughput grew by an estimated 4 per cent to
reach 506.9 million TEUs in 2008. Chinese mainland ports accounted for approximately 22.3 per cent of the total
ZRUOGFRQWDLQHUSRUWWKURXJKSXW,Q&KLQDWKH5XVVLDQ)HGHUDWLRQDQG,QGLDUDLOIUHLJKWWUDI¿FPHDVXUHGLQ
ton-kilometres showed growth rates of 3.5 per cent, 5 per cent and 8.4 per cent respectively for 2008. However,
UDLOIUHLJKWWUDI¿FGHFOLQHGLQ(XURSHE\SHUFHQW,QERWK(XURSHDQGWKH8QLWHG6WDWHVUDLOIUHLJKWGHFOLQHG
VLJQL¿FDQWO\LQWKHHDUO\PRQWKVRIZKHQFRPSDUHGWRWKHVDPHSHULRGLQWKHSUHYLRXV\HDU
on revenue. The high price/earning ratios that some ports
and terminal operators were experiencing in the years
World container port throughput (measured in 20-foot preceding 2008 have since decreased. For instance, DP
equivalent units (TEUs)) increased by 12.1 per cent World, one of the largest international terminal operators,
saw its share price drop to $0.18 in
in 2007. The preliminary figures
March 2009 from its initial public
for world container port throughput World container port
offering price of $1.30 in December
in 2008 show that this growth throughput … increased by
2007. This effectively meant the
continued, albeit at a lower rate of 12.1 per cent in 2007.
valuation of the company had
approximately 4 per cent. In most
declined from just over $21 billion
cases, the port throughput statistics
IRUDUHXQFRQ¿UPHGRUQRWUHSRUWHGXQWLOWKHHQG to less than $3 billion. Other port/terminal owners/
RIWKH¿VFDO\HDUKHQFHWKH¿JXUHVJLYHDPRUH operators suffered a similar fate as stock markets
declined globally. However, one other important factor
reliable picture.
in the valuation of ports was that port throughput – and
During 2008, the world’s fleet of container ships thus revenue – had been growing faster than international
increased by 17.3 million dwt or 11.9 per cent (see trade. With international trade now set to level off or
chapter 2), while freight rates on most routes dived decline, so too will the revenue of those companies
sharply towards the end of the year (see chapter 4). The dependent on it. Port revenue consists not only of
situation now facing some ports is a glut of container charges made from cargo handling, but also of charges
ships laying idle outside the port waiting for cargo. The for services such as towage, mooring, waste removal
GHHSHQLQJRIWKHJOREDO¿QDQFLDOFULVLVWRZDUGVWKHHQG etc., which will all decrease with the reduced number of
of 2008 had an effect upon port volumes and therefore vessel calls. There is also likely to be a knock-on effect
A.
CONTAINER PORT TRAFFIC
109
110
on port project investments, as ports either cut back on
spending or banks insist on stricter loan conditions.
$V LQGLFDWHG E\ WKH ODWHVW ¿JXUHV DYDLODEOH RQ ZRUOG
FRQWDLQHUSRUWWUDI¿FLQGHYHORSLQJHFRQRPLHVZLWK
an annual national throughput of over 100,000 TEUs
(table 37), 2007 registered 487.1 million TEU moves
±DQDQQXDOLQFUHDVHRIPLOOLRQ7(8VRYHU
In 2007, the container throughput growth rate for
developing economies was 14 per cent, with a throughput
of 311 million TEUs; this accounted for approximately
SHUFHQWRIWRWDOZRUOGWKURXJKSXW
19 per cent and 17 per cent. In neighbouring Ningbo,
SRUWWKURXJKSXWGHFOLQHGWRPLOOLRQ7(8VLQWKH¿UVW
two months, down 14 per cent from the same period
in 2008. The decline in monthly container volumes
widened from 5 per cent in January 2009 to 23 per cent
in February 2009.
Table 38 shows the world’s 20 leading container ports
for 2008. The list includes 13 ports from developing
economies – all in Asia – with the remainder from
developed countries located in Europe (4) and the
United States (3). Of the 13 ports in developing economies,
7 are located in China (including Hong Kong, China).
The other ports are located in the Republic of Korea,
Malaysia (2), Singapore, Taiwan Province of China,
and the United Arab Emirates. Container throughput in
these ports reached 247.4 million TEUs in 2008, a rise
of 4.9 per cent over the previous year. The ports listed
remained the same for the second consecutive year, with
a slight shifting of fortunes and jostling for position for
those further down the league. The top 5 ports all retained
their respective positions in 2008.
,Q RXW RI DOO WKH GHYHORSLQJ HFRQRPLHV
listed, 29 countries experienced double-digit growth
in port throughput compared to the preceding year.
The 10 countries registering the highest growth were
the Libyan Arab Jamahiriya (81.7 per cent), Namibia
SHU FHQW 3DQDPD SHU FHQW /HEDQRQ
SHU FHQW 9LHW 1DP SHU FHQW <HPHQ
SHUFHQW&RORPELDSHUFHQW&KLOHSHU
cent), the Dominican Republic (25.5 per cent) and
China (23.2 per cent). China, the Dominican Republic,
/HEDQRQDQG3DQDPDDOVR¿JXUHGLQWKLVOLVWLQ Singapore retained its lead as the world’s busiest port
China continues to top the list as the country with the in terms of the total number of TEU moves, growing at
just over 7 per cent compared to the
highest container throughput.
previous year. Shanghai matched
Singapore retained its lead
Chinese ports (excluding Hong Kong, as the world’s busiest port in
this growth rate and maintained its
&KLQD JUHZ RQ DYHUDJH E\ SHU terms of the total number of
position in second place. This was
cent in 2007 over the previous year to TEU moves, growing at just
a much lower growth rate than the
reach 103 million TEUs. Preliminary over 7 per cent compared to
20 per cent experienced over the
¿JXUHV IRU VKRZ WKDW &KLQHVH the previous year.
last few years. The gap between
port throughput continued to grow,
Singapore and Shanghai widened
to around 113 million TEUs. Since
slightly in 2008 to 1.9 million
WKHQKRZHYHUSRUWWKURXJKSXWKDVIDOOHQVLJQL¿FDQWO\ TEUs, from 1.7 million in the previous year, despite
with ports in the Bohai Bay area faring better than those extra capacity with the completion of the third-phase
in the south of the country. The main factors for this H[SDQVLRQRI<DQJVKDQSRUWORFDWHGRII6KDQJKDL
are: (a) the large number of factories that are located
in north-east China, where labour and land costs are Hong Kong (China) remained in third place, despite a
cheaper than in the south; (b) the development of weak growth rate of just 1 per cent over the previous
intermodal links with internal provinces; and (c) the year. The neighbouring port of Shenzhen achieved a
fast expansion of intraregional trade in the region. 1.5 per cent growth rate in 2008, compared to 14 per
Despite this, Dalian recorded its biggest fall in container cent in 2007, to remain in fourth place. Busan remained
throughput – a 10 per cent drop – in February 2009. In LQ¿IWKSODFHZLWKDVLPLODUJURZWKUDWHRIMXVWSHU
southern China, in particular around Shenzhen, exports cent in 2008. Dubai continued its steady upward climb,
DUHPRUHFRQFHQWUDWHGRQWKHWUDQVSDFL¿FWUDGHURXWH rising one place after growing by 11 per cent. Ningbo
and are thus more affected by the global economic crisis. and Guangzhou both moved up an impressive four places
Shenzhen, China’s second largest container port, saw box after increasing their throughput by around 20 per cent.
YROXPHVIDOOE\SHUFHQWLQWKH¿UVWWZRPRQWKVRI Rotterdam fell by three places to ninth place, as a result
2009.1 During the same period, Shanghai port handled of static throughput. Qingdao held on to its tenth place,
1.5 million TEUs in February compared with 1.9 million with a 9 per cent growth rate. Hamburg dropped by two
TEUs in January, representing year-on-year declines of places to end in eleventh place. Kaohsiung continued its
111
5 - Port and Multimodal Transport Developments
Table 37
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(TEUs)
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China
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23 538 580
15 522 935
13 419 053
5 574 490
4 532 202
4 117 701
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3 552 198
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1 331 711
978 007
842 903
852 837
750 071
758 409
30 891 200
24 248 000
17 297 457
13 903 735
12 994 312
5 558 991
4 917 309
4 715 380
4 102 950
3 347 739
3 310 192
2 122 872
2 102 058
1 980 590
1 918 815
1 915 951
1 732 838
1 580 000
1 305 720
1 091 093
1 004 971
945 105
905 705
884 598
12.34
1.95
9.43
12.47
15.88
4.73
2.51
11.23
21.85
7.12
8.95
34.58
4.38
9.83
5.12
9.79
14.51
25.47
28.97
0.59
8.94
-3.10
8.33
5.12
8.48
10.09
59.37
1.12
34.35
14.88
7.20
7.38
1.04
1.83
9.40
-5.31
3.58
13.97
10.53
14.12
-5.44
9.04
7.85
15.11
-9.43
-0.88
-5.00
0.19
-3.30
18.51
-1.95
19.23
-0.27
17.94
1.00
-1.08
13.21
5.24
112
1DPHRIFRXQWU\
RUWHUULWRU\
(FXDGRU
-0.35
-4.48
.HQ\D
&{WHG
,YRLUH
6\ULDQ$UDE5HSXEOLF
-RUGDQ
7ULQLGDGDQG7REDJR
Ghana
$QJROD
8QLWHG5HSXEOLFRI7DQ]DQLD
6HQHJDO
6XGDQ
0DXULWLXV
Bahrain
'MLERXWL
&DPHURRQ
$OJHULD
&DPERGLD
*XDP
(O6DOYDGRU
1DPLELD
/LE\DQ$UDE-DPDKLUL\D
0DGDJDVFDU
479 355
507 119
471 970
472 075
317 334
215 487
221 330
200 254
189 848
221 490
147 972
123 329
538 525
414 000
514 557
513 204
412 594
424 457
342 152
303 583
223 543
200 050
253 271
144 458
144 993
122 122
112 427
594 199
588 275
582 515
347 483
345 574
334 924
225 779
219 858
202 051
123 343
102 423
22.12
14.10
1.97
9.00
7.71
1.22
9.88
12.92
4.10
-15.50
10.74
1.00
8.70
5.37
14.35
11.80
17.13
74.14
21.55
5.19
9.24
40.70
8.83
1.00
1.00
-18.13
1.00
10.32
12.87
1.00
1.00
1.00
1.42
8.21
1.00
1.00
-8.90
311 743 178
312 498 808
487 132 209
10.03
14.15
12.15
5.75
5.74
6XEWRWDO
2WKHUUHSRUWHGE
7RWDOUHSRUWHGF
:RUOGWRWDOG
3UHOLPLQDU\
¿JXUHVIRU
3HUFHQWDJH 3HUFHQWDJH
FKDQJH
FKDQJH
± ±
Source: UNCTAD secretariat, derived from information contained in Containerisation International Online as of June 2009,
from various Dynamar B.V. publications, and from information obtained by the UNCTAD secretariat directly from
terminal and port authorities.
a
Singapore, in this table, includes the port of Jurong.
b
Comprises developing economies where fewer than 100,000 TEUs per year were reported or where a substantial
lack of data was noted.
c
Certain ports did not respond to the background survey. While they were not among the largest ports, total omissions
can be estimated at 5 to 10 per cent.
d
:KLOHHYHU\HIIRUWLVPDGHWRREWDLQXSWRGDWHGDWDWKH¿JXUHVIRUDUHLQVRPHFDVHVHVWLPDWHG3RUWWKURXJKSXW
¿JXUHVWHQGQRWWREHGLVFORVHGE\SRUWVXQWLODFRQVLGHUDEOHWLPHDIWHUWKHHQGRIWKHFDOHQGDU\HDU,QVRPHFDVHV
WKLVLVGXHWRWKHSXEOLFDWLRQRIDQQXDODFFRXQWVDWWKHFORVHRIWKH¿QDQFLDO\HDU&RXQWU\WRWDOVPD\FRQFHDOWKHIDFW
WKDWPLQRUSRUWVPD\QRWEHLQFOXGHGWKHUHIRUHLQVRPHFDVHVWKHDFWXDO¿JXUHVPD\EHKLJKHUWKDQWKRVHJLYHQ7KH
¿JXUHVIRUDUHJHQHUDOO\UHJDUGHGDVPRUHUHOLDEOHDQGDUHWKHUHIRUHPRUHRIWHQTXRWHGLQWKHDFFRPSDQ\LQJ
text.
113
Table 38
7RSFRQWDLQHUWHUPLQDOVDQGWKHLUWKURXJKSXWIRUDQG
(TEUs and percentage change)
3RUWQDPH
3HUFHQWDJH
FKDQJH
±
3HUFHQWDJH
FKDQJH
–
6LQJDSRUHa
24 792 400
27 935 500
29 918 200
7.10
6KDQJKDL
21 710 000
27 980 000
20.45
7.00
+RQJ.RQJ&KLQD
23 538 580
23 998 449
24 248 000
1.95
1.04
Shenzhen
21 413 888
14.24
1.49
%XVDQ
12 039 000
13 425 000
10.15
1.24
'XEDL
11 827 299
19.38
11.02
1LQJER
32.43
19.94
*XDQJ]KRX
9 200 000
11 001 300
39.39
19.58
5RWWHUGDP
10 800 000
11.77
0.09
4LQJGDR
7 702 000
10 320 000
22.85
9.07
+DPEXUJ
9 900 000
9 700 000
11.72
-2.02
.DRKVLXQJ
4.93
Antwerp
7 018 911
8 175 952
5.97
Tianjin
5 950 000
7 103 000
8 500 000
19.38
3RUW.ODQJ
7 118 714
7 970 000
12.53
/RV$QJHOHV
8 355 039
7 849 985
/RQJ%HDFK
0.30
-11.28
7DQMXQJ3HOHSDV
4 770 000
5 500 000
15.30
1.82
%UHPHQ%UHPHUKDYHQ
4 428 203
4 892 239
5 500 709
10.48
12.44
1HZ<RUN1HZ-HUVH\
5 299 105
4.05
208 479 500
235 823 091
247 373 540
13.12
4.90
7RWDOWRS
Source: UNCTAD secretariat and Containerisation International Online, June 2009.
a
Singapore, in this table, does not include the port of Jurong.
downward trend, falling by four places to position 12. back. Tanjung Pelepas remained in eighteenth place,
Antwerp gained one place, ending in thirteenth position. ZKLOH%UHPHQ%UHPHUKDYHQDQG1HZ<RUN1HZ-HUVH\
Tianjin was the biggest mover, moving
WUDGHGSODFHVWR¿QLVKDWSRVLWLRQV
XSDQLPSUHVVLYH¿YHSODFHV±QRGRXEW The world port throughput
and 20 respectively. Together, these top
helped by its closeness to Beijing, the outlook for 2009 remained
20 ports accounted for around 49 per
FHQWRIZRUOGFRQWDLQHUSRUWWUDI¿FLQ
main site of the 2008 Olympic Games. depressed.
Port Klang moved up one position to
2008.
fifteenth place, while Los Angeles
slipped three positions for a second consecutive year The world port throughput outlook for 2009 remained
WR ¿QLVK LQ VL[WHHQWK SODFH /RQJ %HDFK GHFOLQHG E\ depressed. Early indications for China in 2009 did not
two places to seventeenth position, after sustaining the bode well for the rest of the world, since, as mentioned
largest fall of any port in the top 20, with an 11 per cent earlier, China’s ports account for almost a quarter of
reduction in throughput as imports from Asia were cut global port throughput. The total throughput of China’s
114
PDLQ FRQWDLQHU SRUWV IRU WKH ¿UVW TXDUWHU RI IHOO
by 11 per cent to 21.8 million TEUs compared to
the previous year. Guangzhou registered the greatest
decline in throughput, losing 24.3 per cent; Shanghai
and Shenzhen declined by 15.1 per cent and 21.2 per
cent respectively.
B.
IMPROVEMENTS IN PORT
PERFORMANCE
The most notable improvements to port performance in
2008 occurred in the number of ports achieving greater
crane productivity. In recent years, larger vessels have
created more pressure on ports to load and discharge
cargo, and some of the technology that is used to cater
for this need has now spread to a greater number of
SRUWV'HYHORSLQJHFRQRPLHVFDQEHQH¿WIURPJUHDWHU
connectivity to world markets, improve trade and lower
their transport costs by improving port facilities. In
some cases this may involve infrastructure investments,
such as providing better access to the port by dredging,
extending and supporting existing quays, or providing
breakwaters. In terms of superstructure, better cargo
handling equipment and storage facilities may be needed.
To make the most use of the port infrastructure and
superstructure, these need to be woven together by an
effective operational system. By operating an integrated
system in the United Arab Emirates, the Khor Fakkan
Container Terminal (KCT), for instance, achieved
220 container moves per hour when servicing the United
Arab Shipping Company (UASC) vessel Mayssan in
April 2009. Although this did not beat the terminal’s
previous record of 237 moves per hour (for the CMACGM vessel La Traviata in 2007), it was a prelude of
things to come. Several weeks later, KCT surpassed
its 2007 terminal record by achieving 279 moves per
hour (for the CMA-CGM vessel Pelleas). While this
is not a world record, it is nevertheless impressive, and
does highlight the fact that incremental improvements
can be made to increase port efficiency through
technological advances. The Apapa Container Terminal
in Nigeria, operated by APM Terminals, broke its own
productivity record when it performed 2,249 moves
in 47.3 hours while unloading the Maersk Pembroke,
DFKLHYLQJPRYHVSHUKRXU7KHLPSURYHPHQWLQ
productivity was due to new training programmes, yard
improvements, and the deployment of new equipment.
Even though some ports have achieved individual crane
productivity of greater than 70 moves per hour, most
cranes operating at less than half that rate are considered
HI¿FLHQW9HVVHOSURGXFWLYLW\XVLQJPXOWLSOHFUDQHVWR
discharge a single ship as in the KCT example above,
surpassed the 400 mark several years ago. While the
arrival over recent years of tandem-lift, triple-lift
and even quad-lifts cranes has helped improve port
performance on an incremental scale, these new cranes
have not revolutionized the industry. These multiplelifting cranes are not a panacea, and as such, they are
not in use everywhere. To get the most out of multiplelifting cranes, cargo needs to be loaded onboard in the
right position, to be headed for the same destination,
and to weigh a similar amount. Cargo handling within
ports remains a critical point in the transport chain where
LPSURYHPHQWVLQHI¿FLHQF\FRXOGJUHDWO\EHQH¿WWKHÀRZ
of goods internationally.
C.
RECENT PORT DEVELOPMENTS
This section gives a brief overview of some of the port
developments that are happening around the world. It is
intended to be informative rather than exhaustive, and
pertains to developing economies and countries with
economies in transition. In general, port developments
continue unabated, despite the global economic crisis.
Some port projects have been put on hold pending further
analysis of the current economic climate, while other
projects have gone ahead.
In China, the port of Dalian had announced plans to cut
LWVFDSLWDOH[SHQGLWXUHE\SHUFHQWWR¥800 million
\XDQDVDUHVXOWRIWKHJOREDO¿QDQFLDOFULVLV+RZHYHU
subsequent to this, it announced investments of ¥1.5 billion
for 2010 and ¥799 million for 2011, signalling that the
HIIHFWVRIWKH¿QDQFLDOFULVLVRQWKHSRUWPD\QRWKDYHEHHQ
as bad as originally perceived. The Ningbo-Zhoushan
port expansion plans, which include the building of nine
container terminals, have reportedly been put on hold
by Singapore’s PSA International and Hong Kong’s
Modern Terminals, as a consequence of the global trade
distortions. PSA had also expressed an interest in building
seven additional terminals, bringing the total investment
as high as $1.9 billion. Both parties have now put their
projects on hold until the global economic downturn
eases. Ningbo-Zhoushan port, located near Shanghai,
plans to increase its container throughput to 30 million
TEUs by 2020, up from 10.93 million TEUs in 2008. Total
cargo volume is set to rise to 890 million metric tons, up
from 520 million metric tons. Elsewhere in China, plans
were announced to build three multi-functional ports on
the border with the Russian Federation, at Tuntszyan,
Jiamusi and Big Ussuri. In China, a 51 per cent stake
LQ<LFKDQJ 3RUW WKH ODUJHVW IHHGHU SRUW IRU SKRVSKDWH
in the country, was sold to Hong Kong–listed port and
LQIUDVWUXFWXUHLQYHVWRU3<,&RUSRUDWLRQ/WG
In India, the Port of Jawaharlal Nehru completed the
bidding process for its 330-metre berth extension
project. Expected to be ready in 2010, the additional
IDFLOLW\ZRXOGKDYHDQDQQXDOFDSDFLW\RI7(8V
taking total capacity at the state-owned terminal to
1.2 million TEUs. In addition, the port also extended
the deadline for bids to operate its fourth container
terminal project, which could cost $1.3 billion. The 30\HDUGHVLJQ±EXLOG±¿QDQFH±RSHUDWH±WUDQVIHUDJUHHPHQW
is expected to have a 1,000-metre-long terminal with a
backup area and an annual capacity of 4 million TEUs.
At present, private operators DP World run the Nhava
Sheva Container Terminal, and APM Terminals run the
gateway terminal within the port, while the trust operates
its own terminal.
In Colombo, the South Container Terminal port
H[SDQVLRQUDQLQWRGHOD\VIROORZLQJDGRZQWXUQLQWUDI¿F
volumes. Domestic volumes at the Colombo port fell
by 24 per cent, while transshipment volumes fell by
19 per cent in February 2009 over the same period in
the previous year.
In the Republic of Korea, Hanjin Shipping celebrated
the opening of its new terminal at Busan New Port in
February 2009. It also has operations at the Gamcheon
and Gamman terminals elsewhere in Busan, plus
terminals at the ports of Kyangyang and Pyongtaek
in the Republic of Korea. Internationally, Hanjin has
operations in Long Beach, Oakland, Seattle, Rotterdam,
Antwerp, Osaka, Tokyo and Kaohsiung. New projects
scheduled to come online include those in Algeciras
(Spain), Tan Can-Cai Mep (Viet Nam) and Jacksonville
(United States), for completion in 2010, 2011 and 2012
respectively.
In Brunei, the Government has signed an agreement with
International Container Terminal Services Inc. to operate
the Muara Container Terminal for a period of four years,
with two one-year options to extend.
In the Middle East, Saudi Arabia has allocated 12 billion
riyals ($3.2 billion) in its budget for infrastructure
projects including road and ports. A 450-km high-speed
railway designed to link the Red Sea port city of Jeddah
WR0HFFDDQG0HGLQDLVH[SHFWHGWREH¿QLVKHGLQ
In addition, a 2,400-km rail link between Jordan and
Riyadh is due to be completed in 2010. The line will
link Saudi Arabia’s Al-Jalamid phosphate mine and
its Al-Zabirah bauxite mine in the north with planned
aluminium and fertilizer complexes at Ras al-Zour on
the Gulf coast. Also in Jordan, the Aqaba Development
115
Corporation has signed a 30-year build-operate transfer
agreement worth in excess of $100 million with the
Jordan Phosphate Mines Company and the Arab Potash
Company to rehabilitate, develop and operate the current
industrial terminal, and to establish and operate a new
WHUPLQDO,Q$IULFD1LJHULDLVWREXLOG¿YHQHZSRUWV
at Onitsha, Idah, Dekina, Lokoja and Baro, in Niger
State, to ease the pressure of congestion at existing
terminals in Lagos. In addition, the River Niger is to be
dredged some 570 kilometres from Baro in Niger State
to Bayelsa State. APM Terminals are involved in port
projects in Apapa (Nigeria) and Luanda (Angola), and
also in Pointe-Noire (Congo).2
In Latin America, plans are progressing for further
concessioning in the ports of San Antonio and Valparaíso.
At present DP World, which operates the northern port
of Callao, is reported to be interested in the upcoming
concessioning, along with Hutchison Port Holdings
and local operator Puerto de Lirquén. At the Colombian
port of Buenaventura, despite a fall in throughput of
PRUHWKDQSHUFHQWGXULQJWKH¿UVWTXDUWHURI
the $17.7 million planned investment programme will
FRQWLQXH,Q$SULOWKHSRUWVDZDVLJQL¿FDQWULVHLQWKH
number of bulk carriers visiting. In Brazil, the National
Department of Transport Infrastructure revealed plans
WRWXUQDODQG¿OOVLWHLQ*XDQDEDUD%D\5LRGH-DQHLUR
into the country’s newest container terminal. Several
international terminal operators are reportedly interested
in developing the new project, which has received
wide local support. In Mexico, the Punta Colonet
port development was reportedly put on hold as the
JOREDO ¿QDQFLDO FULVLV FXUWDLOHG WKH QXPEHU RI SULYDWH
companies interested in or able to carry out the required
investments under the terms stipulated by the Federal
Government. The building of a mineral bulk cargo
facility at Guaymas port also suffered a similar fate after
it failed to attract interest from investors. The building
RI WKH ¿UVW DXWRPRELOHVSHFLDOL]HG WHUPLQDO DW /i]DUR
&iUGHQDVSRUWZDVKDOWHGJLYHQWKHGLI¿FXOW¿QDQFLDO
situation faced by the car industry. The multi-purpose
WHUPLQDOFRQFHVVLRQDW0D]DWOiQSRUWZDVGHFODUHGYRLG
because the two bidders failed to meet the tender’s
economic requisites.
Table 39 shows the equity market share of the leading
global terminal operators. The equity share proportions
the terminal throughput by the stake that the global
terminal operator has in a particular project. Thus, a
port operating as a 50/50 joint venture between a global
terminal operator and a local partner would allocate
each operator half the port throughput. It is, however,
116
Financial results of the leading international terminal
operators
Table 39
7KHJOREDOWHUPLQDORSHUDWRUVHTXLW\VKDUH
RIZRUOGFRQWDLQHUWKURXJKSXW
(percentages)
*OREDOWHUPLQDO
RSHUDWRUV
36$,QWHUQDWLRQDO
HHI
8.0
9.8
9.9
98.9
HPH
8.9
$307HUPLQDOV
45.0
'3:RUOG
4.9
5.5
29.9
&RVFR3DFL¿F
2.0
2.2
(XURJDWH
1.5
1.5
SSA Marine
1.0
0.9
7RWDO
29
33
33
219.8
:RUOGWKURXJKSXW
LQPLOOLRQVRI7(8V 434.3 487.1 Source: Adapted by the UNCTAD secretariat from
information obtained by Dynamar B.V.
Note
7KH +HU¿QGDKO +LUVFKPDQQ ,QGH[ LV DQ LQGLFDWRU
of market concentration. If the sum of the top four
market leaders equals 1,000, then that indicates a
concentrated marketplace. A score above 1,800 is
highly concentrated. This calculation is based on
the terminal operator’s equity market share.
not uncommon for several global terminal operators
to be involved in one terminal. In such a case, the port
throughput equity share would also be proportioned to
the stake held by each party. Table 39 clearly shows that
in 2008, PSA International was the market leader, with a
9.9 per cent market share of world cargo throughput.
The global port industry remains highly fragmented.
The Herfindahl Hirschmann Index, an indicator of
market concentration shown in table 39, equates to a
¿JXUHRI3 where 1,000 indicates concentrated and
1,800 highly concentrated. This could be a sign that
further consolidation within the port terminal operating
industry may be expected. The recent devaluation in
the share price of ports, brought about by the decline
in global stock markets and international trade, could
herald another round of mergers or acquisitions by
¿QDQFLDOLQVWLWXWLRQVDVSRUWVZLOOVXUHO\EHQH¿WIURPD
rebounding global economy. The main problem facing
SRWHQWLDOELGGHUVLVZKHUHWRREWDLQWKH¿QDQFHDVFUHGLW
lines become tighter.
$QHYDOXDWLRQRIWKH¿QDQFLDOUHVXOWVRIVRPHRIWKH
largest terminal operators reveals that their results
for 2008 were very mixed. Ports that experienced a
JURZWKLQSUR¿WVDERYHSHUFHQWLQLQFOXGH
in descending order, APM Terminals, DP World,
the Shanghai International Port Group (SIPG), and
Hamburger Hafen und Logistik AG (HHLA), while
those at the other end of the spectrum, with losses of
PRUHWKDQSHUFHQWLQFOXGH36$DQG&RVFR3DFL¿F
Listed in this section is a general overview of how
port operators performed in 2008. Although it is not
an exhaustive list, it does include most of the global
terminal operators mentioned in table 39, plus a few
other companies which are growing internationally.4
Hutchison Port Holdings’ revenue increased by 4 per
cent to $5.1 billion in 2008. Total throughput at the
49 ports operated by Hutchison Port Holdings increased
E\SHUFHQWWRPLOOLRQ7(8VLQ7KHIDVWHVW
growing ports operated by Hutchison Port Holdings in
2008 were the Panama Ports container terminal, where
volumes increased by 21 per cent; Westports in Klang,
0DOD\VLDXSE\SHUFHQWDQG,QWHUQDWLRQDO3RUWV
6HUYLFHVLQ6DXGL$UDELDDOVRXSSHUFHQW3RUWV
where volumes declined included Xiamen (China),
down 17 per cent; Busan and Gwangyang (Republic of
.RUHDGRZQSHUFHQW<DQWLDQ&KLQDGRZQSHU
cent; and Shanghai (China), down 2 per cent.
PSA International increased its revenue to almost
S$4.4 billion (Singapore dollars) ($3 billion), up from
6ELOOLRQLQDQGWKHQVDZLWVQHWSUR¿WVOXPS
SHUFHQWWR6ELOOLRQLQ7KHFRQWULEXWLQJ
factors included lower yields, higher operating costs,
impairment provisions and lower divestment gains.
The total throughput at its terminals in Singapore and
DEURDG FOLPEHG SHU FHQW WR PLOOLRQ 7(8V
7KH ¿UP¶V 6LQJDSRUH WHUPLQDOV SRVWHG D SHU FHQW
rise in volumes to 29 million TEUs, while its foreign
facilities recorded a 7.7 per cent rise in throughput
WR PLOOLRQ 7(8V 3UR¿W IURP SRUW RSHUDWLRQV
dropped 21.7 per cent to S$1.4 billion, down from
S$1.8 billion.5
DP World reported that its turnover increased by 20 per
FHQWGXULQJWRUHDFKELOOLRQ,WVSUR¿WVIRU
HTXDOOHGPLOOLRQ±DQLQFUHDVHRISHUFHQW
for the year ending 2008. This follows an impressive
ULVHLQSUR¿WVRISHUFHQWIRU
Cosco Pacific increased its turnover in 2008 to
PLOOLRQXSSHUFHQWRQ2SHUDWLQJSUR¿W
GHFOLQHGKRZHYHUE\SHUFHQWWRPLOOLRQDV
a result of the global economic crisis affecting demand
IRU&KLQHVHJRRGV&RVFR3DFL¿FRSHUDWHVSRUWVLQ
China and 3 internationally.
$30 7HUPLQDOV LQFUHDVHG SURILWV WR PLOOLRQ
IURPPLOOLRQDVUHYHQXHVURVHE\SHUFHQWWR
ELOOLRQLQ7UDI¿FURVHSHUFHQWWRPLOOLRQ
TEUs. The share of third-party carriers rose to 38 per
cent, from 34 per cent in 2007, with sister company
Maersk Line providing the remainder.
Eurogate increased its revenue by 8.4 per cent in 2008
WR¼PLOOLRQDQGSRVWHGDUHFRUGSUR¿WIRUWKH\HDU
RI¼PLOOLRQ±DULVHRISHUFHQWRQ7KLV
was the company’s best operating result in its 10-year
history.
117
7.1 per cent over 2007. Throughput of 43.58 million
TEUs was handled in the mainland, an increase of
RYHU7HUPLQDOVLQYHVWHGDQGPDQDJHGE\WKH
group in the western Shenzhen port recorded a total
container throughput of 11.58 million TEUs – an increase
of 5 per cent, which was higher than the overall growth
rate of Shenzhen Port. Its market share in Shenzhen also
grew to 54 per cent.
International Container Terminal Services Inc. reported a
GHFOLQHLQSUR¿WVRISHUFHQWWRELOOLRQ3KLOLSSLQH
pesos, from 3.29 billion in the previous year. A change
in accounting practices was cited as the main cause of
the decline.
D.
INLAND TRANSPORT DEVELOPMENTS
By the end of 2008, the effects of the global economic
crisis could be seen in all major transport modes: sea,
road and rail. The most notable
HHLA achieved a 23.4 per cent
movements in volumes occurred
increase in operating profits to By the end of 2008, the effects SULQFLSDOO\LQWKH¿UVWKDOIRI
€355million ($472 million) in 2008. of the global economic crisis
with severe declines for railway
Sales were up by 12.4 per cent to could be seen in all major
WUDI¿F LQ SDUWLFXODU DFURVV PDQ\
€1.3 billion. HHLA’s full-year 2008 transport modes ...
regions. The following sections
container turnover was still slightly
briefly state some of the main
up, by 1.2 per cent to 7.3 million TEUs, including developments that have occurred in the inland waterway,
HHLA’s container terminal in the Ukrainian Black Sea railway and road sectors.
port of Odessa. However, in the fourth quarter of 2008,
ER[ KDQGOLQJ ¿JXUHV GHFOLQHG E\ SHU FHQW DV WKH Inland waterway transport
JOREDO¿QDQFLDOFULVLVWRRNKROG
Whereas inland waterway transport perhaps used
6KDQJKDL,QWHUQDWLRQDO3RUW*URXSLQFUHDVHGQHWSUR¿WV WR EH WKH RQO\ HI¿FLHQW IRUP RI WUDQVSRUW WR PRYH
by 27 per cent in 2008 to ¥ELOOLRQDQGWXUQRYHUURVH goods from inland to coastal areas, today it is looked
by 11 per cent to ¥18.1 billion. In 2007, the company upon more as an alternative means of transport to
UHSRUWHG D QHW SUR¿W RI ¥ ELOOLRQ RQ UHYHQXH RI help relieve congestion on other transport networks.
¥ ELOOLRQ +RZHYHU IRXUWKTXDUWHU QHW SUR¿WV IRU Inland waterway transport is an increasingly popular
2008 show a decline of 17.5 per cent compared to the mode of transportation for goods in many parts of
previous year. Shanghai International Port Group handled the world, as is evident from the increasing number
PLOOLRQPHWULFWRQVLQLQFOXGLQJPLOOLRQ of projects attracting investment. However, inland
TEUs, up 7 per cent, of which the Waigaoqiao container waterways only account for a small portion of goods
WHUPLQDOKDQGOHGPLOOLRQ7(8VDQGWKH<DQJVKDQ transported internationally, especially in regions
deep water port processed 8.2 million TEUs.
with very well-developed alternative modes of
transport. For example, in Europe, inland waterway
China Merchants Holdings International increased its WUDQVSRUWUHSUHVHQWVRQO\SHUFHQWRIWRWDOLQODQG
SUR¿WVE\SHUFHQWWRDSSUR[LPDWHO\+.PLOOLRQ transport, whereas railways account for 17.9 per
(Hong Kong dollars) for 2008. China Merchants Holdings FHQW DQG URDG WUDQVSRUW DFFRXQWV IRU SHU FHQW
International’s portfolio of ports are mainly located in 7KHVH ¿JXUHV IRU DUH EDVHG RQ (XURVWDW
China, with the exception of a small stake in a terminal However, in comparison to other regions, European
in Zeebrugge and in a forthcoming project in Viet Nam. waterways transport a higher percentage of goods,
The group handled an aggregate container throughput suggesting that perhaps it is not alternative modes of
of 50.48 million TEUs – an increase of approximately transport that are a key factor, but rather intermodal
118
connectivity. Currently, only 2 per cent of the Russian
Federation’s freight transport is carried on waterways,
and in Brazil, inland waterways account for less than
1 per cent of the total freight volume. China, with
the world’s largest network of inland waterways,
transported around 1.3 billion tons of cargo in 2007.
The Russian Federation, with the second-largest
network of inland waterways, transported around
152 million tons in 2007, representing a year-onyear increase of 9.5 per cent. The third-largest inland
waterway network is in Europe, where 20 of the
European Union’s 27 member States have direct
access. In Europe, around 500 million tons of cargo
were transported using its 37,000 kilometres of inland
waterways in 2007. Table 40 illustrates the total
goods shipped via some of the world’s largest inland
waterway networks.
Recognizing the potential of inland waterways, some
countries have increased their infrastructure investment
in such areas. For instance, the Government of Viet Nam
has proposed a future inland waterway that would
connect Ho Chi Minh City with neighbouring areas,
with an estimated cost of $88.1 million to develop
the waterway system. The plan includes connecting
Ho Chi Minh City with 88 inland waterway routes
totalling 574 km in length, of which 138 km will be
new routes.
Table 40
7RWDOOHQJWKRIQDYLJDEOHZDWHUVDQGWRQVRIJRRGV
WUDQVSRUWHGE\LQODQGZDWHUZD\V
5DQN &RXQWU\UHJLRQ
NP
NP
1.3 bn
1
China
110 000
Date of
info.
2008
2
Russian Federation
102 000
2007
152 ma
3
European Union
52 332
500 mb
4
Brazil
50 000
2008
n/a
5
United States
of America
Indonesia
41 009
21 579
2008
2008
800 m
n/a
7
Colombia
18 000
2008
3.8 m
Source: Compiled by UNCTAD from various sources.
Note:
Data refer to 2008, except where indicated.
a
2007 data.
b
GDWD
Railway transport
In some countries, railways are a major transport
mode for goods destined for international markets. For
H[DPSOHLQWKH8QLWHG6WDWHVUDLOWUDI¿FDFFRXQWVIRU
around 40 per cent of transport share by volume. For
other countries such as Brazil, railroads account for
RQO\ SHU FHQW RI WKH IUHLJKW YROXPH QRQHWKHOHVV
this represents an increase of almost 80 per cent since
SULYDWL]DWLRQWRRNSODFHLQ7KLVVKDUHLVH[SHFWHG
soon to reach 28 per cent, and a further 2 per cent
has been estimated if the Government invests what is
necessary to expand the railroad network. With a 30 per
cent share, the Brazilian railroad system would be closer
to the international parameter of 40 per cent, which is
considered by many to be the ideal share of railroads in
the transport matrix of countries with similar industrial
and regional features.
The International Union of Railways has reported that
the ton-kilometres of European railways declined by
5 per cent in 2008, when compared to 2007. The end
of 2008 was particularly dramatic for some countries,
when in the last quarter rail freight volumes declined on
average by 14 per cent over the previous quarter (see
table 41). This trend continued into 2009, with a 34 per
cent decline in January 2009 compared to the same
period in 2008. In Western Europe, similar data indicate
GHFUHDVHVRISHUFHQWLQ'HFHPEHUDQGSHU
cent in January 2009. In the United States, rail volumes
were reported to have fallen by 25 per cent in May 2009,
compared to May 2008.
In Asia, however, railway growth (in ton-kilometres)
ZDVSRVLWLYHLQWKRXJKOHVVVLJQL¿FDQWWKDQWKH
year before. China’s growth in 2008, for instance, was
about half the growth rate registered in 2007 (3.5 per
FHQW FRPSDUHG WR SHU FHQW ,QGLD¶V IUHLJKW WUDI¿F
growth rate declined slightly, from 9.4 per cent in 2007
to 8.4 per cent in 2008. In contrast, rail freight in the
Russian Federation experienced yet another good year,
growing by 5 per cent in 2008 from a 7.2 per cent growth
rate registered in 2007.
Reports for the first few months of 2009 indicate
that railroad carload volumes in the United
States were down 19.2 per cent from 2008, down
SHUFHQWIRUWUDLOHUVRUFRQWDLQHUVDQGGRZQSHU
FHQWLQWKHWRWDOYROXPHHVWLPDWHGDWELOOLRQWRQ
miles. Similarly, Canadian railroads reported a 22.9 per
cent decrease in carloads and a 14.3 per cent decline in
volume of trailers or containers since 2008.
119
Table 41
5DLO,QWHUQDWLRQDOWUDQVSRUWRIJRRGVIRUVHOHFWHGFRXQWULHV
(millions of ton-kilometres)
Q1
4
4
Q4
$QQXDO
14 742
8 294
1 357
2 733
8 925
1 745
3 189
14 441
8 497
7 991
17 370
11 093
215
905
208
2 511
3 413
3 890
8 199
2 780
7 141
728
$XVWULD
3 882
3 577
$]HUEDLMDQ
%HOJLXP
1 381
1 410
1 278
%XOJDULD
340
377
275
Croatia
729
&]HFK5HSXEOLF
2 242
2 210
2 302
2 170
450
474
422
399
(VWRQLD
1 493
1 158
1 421
)LQODQG
729
884
740
4 217
3 925
2 932
*HUPDQ\
15 921
+XQJDU\
1 912
2 258
2 272
2 055
,WDO\
2 142
2 173
1 790
/DWYLD
4 593
4 259
3 942
/LWKXDQLD
3 195
2 790
2 539
54
59
35
219
235
229
222
4 148
4 140
4 199
3 189
3RUWXJDO
58
51
34
5HSXEOLFRI0ROGRYD
742
718
5RPDQLD
908
891
419
6HUELD
973
1 072
1 008
837
6ORYDNLD
2 137
2 154
2 072
6ORYHQLD
708
709
6ZHGHQ
1 879
1 880
1 832
1 550
6ZLW]HUODQG
2 139
7XUNH\
370
359
324
7KH)<50DFHGRQLD
193
172
8NUDLQH
43 182
34 549
TOTAL
103 822
101 250
'HQPDUN
)UDQFH
/X[HPERXUJ
1RUZD\
3RODQG
Source: The International Transport Forum.
Not surprisingly, the economic downturn is impacting
rail freight businesses. Recent reports indicate, for
instance, that plans to enhance the “Beijing–Hamburg
Container Express” may be revised in light of the current
global economic crisis and declining trade volumes.7
The European Union, the United States, the Russian
Federation, China and India account for around 50 per
cent of the total existing world rail network (table 42).
Cooperation among developing economies on rail
projects is increasing. For instance, a company from the
Republic of Korea is seeking to invest in a new doubletrack rail project in Viet Nam. This project would link
Ho Chi Ming City with the central coastal city of Nha
Trang. The new line is expect to cost $7.8 billion and
is part of a larger plan to replace the current track and
develop a cross-country express railway. The new line,
VWUHWFKLQJNLORPHWUHVZRXOGDOORZWUDLQVto travel at
120
Road transport
Table 42
&RXQWULHVDQGUHJLRQVZLWKWRWDOUDLOQHWZRUNVRI
NPDQGDERYH
¿JXUHVXQOHVVRWKHUZLVHLQGLFDWHG
NPV
(XURSHDQ8QLRQ
8QLWHG6WDWHV
5XVVLDQ)HGHUDWLRQa
China
,QGLD
*HUPDQ\
&DQDGD
$XVWUDOLD
$UJHQWLQD
)UDQFH
%UD]LO
Japan
3RODQG
8NUDLQH
6RXWK$IULFD
:RUOG
87 157
75 438
48 215
38 550
31 902
29 370
29 295
23 474
23 072
21 852
20 872
1 370 782
3HUFHQWDJHRI
ZRUOGWRWDO
17.25%
5.50%
3.52%
3.51%
2.81%
2.33%
2.14%
2.14%
1.71%
1.59%
1.52%
100.00%
Source: UNCTAD table, based on CIA World Factbook
¿JXUHV
Note
$OO¿JXUHVDUHIURPXQOHVVVWDWHGRWKHUZLVH
¿JXUH5XVVLDQ)HGHUDWLRQ
a
a speed of 200 km per hour, compared to the current aging
OLQHZKLFKRQO\DOORZVVSHHGVRINPSHUKRXU$SURMHFW
to improve Kenya’s aging rail network has been unveiled.
7KH SODQ ZKLFK FRXOG WDNH XS WR \HDUV DOORZV IRU
faster trains travelling at speeds of between 80 and
120 km per hour. The project will also expand the network
beyond Kenya’s borders, into the neighbouring countries
of Burundi, the Democratic Republic of the Congo, and
Rwanda, bringing the entire Eastern African region into a
seamless connectivity. Transportation charges – which in
some cases amount to 40 per cent of all costs incurred by
local businesses in moving goods by road – can be reduced
LI DQ HI¿FLHQW UDLO VHUYLFH EHFRPHV RSHUDWLRQDO 7KH
project comes at a time when threats of diverting cargo
from the port of Mombasa to other neighbouring ports
have threatened Kenya’s strategic position in the region.
Kenya’s rail network is over a century old, having been
constructed between 1895 and 1901; few improvements
have been made since. In 2008, the rail network moved
just over 2 million tons of cargo, compared to around
double this capacity in the 1980s.
Road transport is an essential link from the factory
door to the main mode of transportation and for
onward delivery to the consumer. In examining the
modern movement of goods along the so-called
ancient “Silk Road”, a study conducted by the United
States Chamber of Commerce found that it was still a
practical and competitive option compared to options
that require additional infrastructure investment. For
many developing economies in other regions, road
transport is still the only viable mode for transporting
goods.
Total freight transport by road in the European Union
LQUHSUHVHQWHGDERXWELOOLRQWRQNPSHU
cent of the inland freight transport market. International
road freight transport accounted for about one third (or
ELOOLRQWRQNPRIWRWDOURDGIUHLJKWWUDQVSRUWLQWKH
(XURSHDQ8QLRQLQWKH\HDU1DWLRQDOURDGIUHLJKW
transport represented the other two thirds (1,200 billion
WRQNP+DXOHUVUHJLVWHUHGLQ¿YHFRXQWULHV*HUPDQ\
Poland, Spain, the Netherlands and Italy) accounted for
over 50 per cent of the total international road freight
market within the European Union.
Road transport and the economic crisis
Various surveys conducted in October 2008 indicated
that trucking companies in the United States were
highly concerned about fuel costs and the economic
uncertainties. Third-party logistics companies were
seen to be relying heavily on the retail, automobile, and
electronics industries for their freight business, all three
of which were suffering a recession, with automobile
sales reportedly at their lowest mark in 15 years, and
FRQVXPHU VSHQGLQJ ÀDW 5HSRUWV DOVR LQGLFDWH WKDW DV
trade growth decelerates, the road transport industry is
facing slower growth. Estimates indicate that over the
2009–2013 forecast period, United States road haulage
WUDI¿F ZLOO JURZ DW D VXEGXHG DYHUDJH DQQXDO UDWH RI
slightly above 1.2 per cent measured in millions of tonkm.8
Figures from the European Union Road Federation (ERF)
and various road freight associations indicate an average
decrease in road freight transport activity of up to 50 per
cent for the last quarter of 2008, and a rise in costs by at
least 3–4 per cent.9 In 2009, road companies, associations
DQG XQLRQV LQ (XURSH FDOOHG IRU ¿QDQFLDO VXSSRUW WR
implement stimulus plans focused on road infrastructure
to help mitigate the effects of the slowdown.
121
Road haulage companies are not immune to the country’s level of integration into global liner
JOREDO¿QDQFLDODQGHFRQRPLFFULVLV$FFRUGLQJWRWKH shipping networks.11 In 2009, China continued to be
International Road Transport Union
the country with the highest LSCI,
(IRU), the number of bankruptcies
followed by Hong Kong (China),
Road haulage companies
of road haulage companies has are not immune to the global
Singapore, the Netherlands and
increased substantially since the ¿QDQFLDODQGHFRQRPLFFULVLV the Republic of Korea (annex
end of 2007. The French road
IV).
transport organization Fédération
Between 2008 and early 2009, the
Nationale des Transports Routiers (FNTR) reports that
out of 210 insolvency cases recorded in the road goods container-carrying capacity of the largest container
transport sector in France in January 2009, 82 per vessels increased further. With 13,800 TEUs, the
cent took place in small or very small enterprises. new MSC Daniela is larger than the 12,508-TEU
Also, according to FNTR, cases of insolvency had vessels of Maersk, which were the largest ships
increased threefold in French businesses of more than in mid-2008. As regards the other components of
50 employees between 2007 and the end of 2008. the LSCI, however, the global economic crisis has
The sector, in which around 50 per cent of workers already had a measurable impact: the average number
are self-employed, is likely to be impacted severely of ships, the TEU capacity deployed and the number
by the crisis. As of January 2009, an estimated RIVHUYLFHVSHUFRXQWU\KDYHDOOJRQHGRZQIRUWKH¿UVW
10,000 jobs have been lost in France as a result of the time since 2004, when UNCTAD started monitoring
¿QDQFLDOFULVLV$QDGGLWLRQDOMREVLQ6SDLQ WKHVH¿JXUHV$OUHDG\VLQFHZHKDYHREVHUYHGD
reduction in the number of carriers,
and 4,000 in Belgium have been
as the mergers and acquisitions
lost through cases of bankruptcy
Between
July
2008
and
July
among shipping companies have an
in the road transport sector. It
impact on the level of competition
is also estimated that a total of 2009, the number of ships, …
the number of services and
on numerous trade routes. The data
140,000 jobs in EU road freight
the number of companies
on the routing and deployment
transport are currently at risk or
have all decreased.
of container ships provide some
have already been lost since the
further insights into the impacts
end of 2007.10 The number of jobs
lost is only one indicator of the effects of the crisis of the global economic crisis on different regions.
on employment (employment conditions in existing $OWKRXJK WKH JOREDO FRQWDLQHU VKLS ÀHHW FRQWLQXHV
to grow in line with new deliveries, ships are
jobs are affected by the crisis too).
increasingly being withdrawn from service and others
Prospects for the rest of 2009 are not favourable. have been redeployed on different routes. Between
In January 2009, the IRU published its yearly road July 2008 and July 2009, the number of ships, their
transport indices, according to which growth in the total TEU carrying capacity, the number of services
transport sector in Western Europe is set to stagnate at and the number of companies have all decreased.
DORZOHYHORYHUWKH¿UVWKDOIRI7KH(XURSHDQ Only the maximum vessel size has continued to
$VVRFLDWLRQRI$XWRPRELOH0DQXIDFWXUHUVFRQ¿UPV increase: in spite of the economic crisis, new and
this view: over the year 2008, registrations of new larger vessels are being delivered by the world’s
trucks (> 3.5 t.) fell by 4.0 per cent in the EU-27 and shipyards. Many of these larger ships then replace
EFTA (without Cyprus and Malta), mainly because VPDOOHUYHVVHOVOHDGLQJWRDVLJQL¿FDQWUHGXFWLRQLQ
of the 21.1 per cent decrease in the EU-12.
the average number of vessels per country. For the
¿UVWWLPHVLQFH81&7$'EHJDQUHFRUGLQJWKHGDWD
the average container-carrying capacity TEU assigned
E.
UNCTAD LINER SHIPPING
per country has discontinued its rise. Following the
&211(&7,9,7<,1'(;
continued trend of mergers and acquisitions, the
Countries’ access to world markets depends largely average number of companies offering services per
on their transport connectivity, especially as regards country has decreased by 17 per cent since 2004
regular shipping services for the import and export ¿J
of manufactured goods. UNCTAD’s Liner Shipping
Connectivity Index (LSCI) aims at capturing a
122
Figure 24
7UHQGVLQFRQQHFWLYLW\LQGLFDWRUV
Index of country averages 2004 = 100
160
Maximum vessel size
150
140
TEU
130
120
110
100
Vessels
Services
90
Companies
80
70
2004
2005
2006
2007
2008
2009
Source: UNCTAD secretariat, based on data from Containerisation International Online.
ENDNOTES
1
KWWSZZZOOR\GVOLVWFRPOOQHZVFKLQHVHER[SRUWYROXPHVFROODSVHKWP
2
More details on Africa are included in chapter 7, including port developments on the continent.
3
This calculation is based upon the equity share where a port operator has an interest. This is against a total market
FDOFXODWLRQZKLFKZRXOGJLYHDKLJKHULQGH[¿JXUH
4
SSA Marine is a private company whose accounts are not publicly available.
5
Lloyd’s List36$,QWHUQDWLRQDOQHWSUR¿WVOXPSVSHUFHQW0DUFK
KWWSZZZOOR\GVOLVWFRPOOQHZVYLHZ$UWLFOHKWP"DUWLFOH,G 7
The trip from Tianjin to Hamburg usually takes up to 30 days by sea, however by using rail, the journey time can be
reduced to about 17 days.
8
%XVLQHVV0RQLWRU,QWHUQDWLRQDO8QLWHG6WDWHV)UHLJKW7UDQVSRUW5HSRUWIRXUWKTXDUWHU$XJXVW
9
ERF. Facing the crisis. 18 March 2009.
10
International Road Transport Union. http://www.iru.org.
11
7KH¿UVWYHUVLRQRIWKH/6&,ZDVLQWURGXFHGLQ81&7$'¶V7UDQVSRUW1HZVOHWWHU1R¿UVWTXDUWHU7KH
FXUUHQWYHUVLRQRIWKH/6&,LVJHQHUDWHGIURP¿YHFRPSRQHQWVDWKHQXPEHURIVKLSVEWKHWRWDOFRQWDLQHUFDUU\LQJ
capacity of those ships; (c) the maximum vessel size; (d) the number of services; and (e) the number of companies
that deploy container ships on services from and to a country’s ports. The data are derived from Containerisation
International Online 7KH LQGH[ LV JHQHUDWHG DV IROORZV )RU HDFK RI WKH ¿YH FRPSRQHQWV D FRXQWU\¶V YDOXH LV
GLYLGHGE\WKHPD[LPXPYDOXHRIWKDWFRPSRQHQWLQDQGIRUHDFKFRXQWU\WKHDYHUDJHRIWKH¿YHFRPSRQHQWV
is calculated. This average is then divided by the maximum average for 2004 and multiplied by 100. In this way, the
LQGH[JHQHUDWHVWKHYDOXHIRUWKHFRXQWU\ZLWKWKHKLJKHVWDYHUDJHLQGH[RIWKH¿YHFRPSRQHQWVLQ
Chapter 6
LEGAL ISSUES AND REGULATORY DEVELOPMENTS
7KLVFKDSWHUSURYLGHVLQIRUPDWLRQRQVRPHLPSRUWDQWOHJDOLVVXHVDQGUHFHQWUHJXODWRU\GHYHORSPHQWVLQWKH¿HOGV
of transport and trade facilitation, together with information on the status of the main maritime conventions.
WRWKHQHZ&RQYHQWLRQUDWL¿FDWLRQVDUHUHTXLUHGIRU
the Convention to enter into force.2 In this context it is
LPSRUWDQWWRQRWHWKDWUDWL¿FDWLRQRIWKH&RQYHQWLRQLV
Adoption of a new United Nations Convention conditional upon denunciation of any other international
on Contracts for the International Carriage of FRQYHQWLRQLQWKH¿HOGRIFDUULDJHRIJRRGVE\VHD7KDW
is to say, for Contracting States to any other international
Goods Wholly or Partly by Sea:
VHDFDUULDJH FRQYHQWLRQ UDWL¿FDWLRQ RI WKH 5RWWHUGDP
the Rotterdam Rules
Rules becomes effective only if and when denunciation
3
the Hague-Visby Rules4 or the
In 2008, after years of deliberation, work on the text of of the Hague Rules,
5
be, has become
a draft Convention on Contracts for the International Hamburg Rules, as the case may
6
effective.
Thus,
adherence to
Carriage of Goods Wholly or Partly
WKH
5RWWHUGDP
5XOHV
UHTXLUHV
E\ 6HD ZDV FRPSOHWHG DQG D ¿QDO This new United Nations
DQ
XQHTXLYRFDO
GHFLVLRQ
WKDW
draft text, as approved by the United convention, to be known as the
on balance, national interests
Nations Commission on International "Rotterdam Rules"was open for
are better served by the new
Trade Law (UNCITRAL) was adopted signing at a special conference
Convention, rather than by any
by the United Nations General held in Rotterdam in September
of the established international
Assembly on 11 December 2008. 2009. Thereafter, States will
m a r i t i m e c a rg o - l i a b i l i t y
consider
whether
to
become
This new United Nations convention,
regimes.7
to be known as the “Rotterdam parties to the new Convention;
Rules”1 (hereinafter referred to as UDWL¿FDWLRQVDUHUHTXLUHGIRUWKH Background
“the Convention” or “the Rotterdam Convention to enter into force.
By way of background, it
Rules”) was open for signing at a
should
be
noted
that
the
regulation of liability arising
special conference held in Rotterdam in September 2009.
Thereafter, states will consider whether to become parties in connection with the international carriage of goods
A.
IMPORTANT DEVELOPMENTS IN
TRANSPORT LAW
123
124
by sea has, over the past decades, become increasingly
diverse. Many states are Contracting States to the Hague
Rules or the Hague-Visby Rules. The 1978 United
Nations Convention on the Carriage of Goods by Sea
(the Hamburg Rules), which entered into force in 1992,
was designed to provide a modern successor to the
Hague-Visby Rules, but failed to attract widespread
acceptance; although the Hamburg Rules are now in
force in 34 states, none of the major shipping nations
KDVUDWL¿HGWKH&RQYHQWLRQ$VDUHVXOWWKUHHPDQGDWRU\
liability regimes, namely the Hague Rules, the HagueVisby Rules and the Hamburg Rules, have come to
coexist internationally. At the same time, the exponential
JURZWKRIFRQWDLQHUL]DWLRQDQGWKHFRQVHTXHQWFKDQJH
RI LQWHUQDWLRQDO WUDQVSRUW SDWWHUQV DQG UHTXLUHPHQWV
have increased the need for appropriate modern
regulation. In relation to multimodal transportation,
no uniform international liability regime is in force,
and the international legal framework is particularly
complex, as liability continues to be governed by existing
unimodal conventions, and by increasingly diverse
national, regional and subregional laws and contractual
agreements.8
policymakers in their assessment of the potential merits
RIUDWL¿FDWLRQRIWKHQHZ&RQYHQWLRQ$VZLOOEHVHHQ
many aspects of the new Convention appear potentially
problematic, in particular from the perspective of smalland medium-scale shippers in developing countries.12
Substantive scope of coverage
The Rotterdam Rules consist of 96 articles which are
contained in 18 chapters. Many of the provisions are
lengthy and highly complex, which, unfortunately,
makes national differences in their interpretation and
application likely and may give rise to significant
litigation.13 To a large extent, the Convention covers
matters that are dealt with in the existing maritime
liability regimes, namely the Hague-Visby Rules and
WKH+DPEXUJ5XOHVDOEHLWZLWKVLJQL¿FDQWFKDQJHVLQ
terms of structure, wording and substance. In addition,
several chapters are devoted to matters currently not
subject to international uniform law such as delivery of
the goods14 and the transfer of the right of control and
of rights of suit.15 The new Convention also provides
for electronic communication and the issue of electronic
substitutes for traditional paper documents, largely
It is against this background that the new Rotterdam Rules by recognizing contractual agreements in this respect
were prepared, with the aim of establishing a modern and by according electronic records a similar status
to paper-based documents. 16
set of internationally uniform
Two separate chapters provide
rules that provide commercial States will now have to carefully consider
complex rules on jurisdiction
parties with much-needed legal the merits of the new Convention and
and arbitration.17 These chapters
certainty. States will now have to decide whether the Rotterdam Rules
are, however, optional, and will
carefully consider the merits of comply with their expectations, both
only be binding on Contracting
the new Convention and decide in terms of its substantive provisions
States that have declared their
and
in
terms
of
its
potential
to
provide
whether the Rotterdam Rules
comply with their expectations, LQWHUQDWLRQDOXQLIRUPLW\RIODZVLQWKH¿HOG intention to be bound – a state
of affairs which may give rise
both in terms of its substantive
to parallel legal proceedings in
provisions and in terms of its
GLIIHUHQW&RQWUDFWLQJ6WDWHVDQGXOWLPDWHO\FRQÀLFWLQJ
potential to provide international uniformity of laws in
judgments.
WKH¿HOG
The substantive work was carried out by an UNCITRAL
working group, established by the UNCITRAL
Commission. 9 Together with a number of other
interested intergovernmental and non-governmental
organizations, the UNCTAD secretariat has been
participating in the relevant UNCITRAL working group
meetings as an observer and has provided substantive
analytical comments for consideration by the working
group throughout the drafting process.10 While proper
consideration of the Convention’s individual provisions
or a comprehensive summary of its content is not
possible here,11 an analytical overview of some of its
central features is provided, with a view to assisting
Scope of application18
The Rotterdam Rules apply to contracts of carriage19 in
which the places of receipt and delivery are in different
States, provided the contract involves an international
sea leg and the contractual place of receipt, loading,
discharge or delivery is located in a Contracting State
(article 5). The Rules do not apply to charter parties
or to “other contracts for the use of a ship or for any
space thereon” and to contracts of carriage in non-liner
transportation, except where “there is no charter party
or other contract for the use of a ship or of any space
thereon and a transport document or an electronic
6 - Legal Issues and Regulatory Developments
125
limitation of liability and time for suit” contained in
any “international convention that would have applied
mandatorily” to the stage of carriage where the loss
occurs, had a separate unimodal transport contract been
made (article 26). Such mandatory provisions would,
in a cargo claim, need to be applied in context with the
20
remainder of the provisions of the Rotterdam Rules – a
Multimodal transport
GLI¿FXOWWDVNIRUFRXUWVLQGLIIHUHQWMXULVGLFWLRQVZKLFK
Importantly, and in contrast to the existing international may be expected to result in internationally diverging
maritime regimes, the Rotterdam Rules have a broad judgments. In all other cases, that is to say where no
scope of application and also cover contracts for international unimodal convention would have been
multimodal transportation that involve an international DSSOLFDEOH WR WKH FODLP LQ TXHVWLRQ RU ZKHUH D ORVV
sea leg, irrespective of which mode of transport is FRXOGQRWEHVXI¿FLHQWO\DWWULEXWHGWRDQ\SDUWLFXODU
dominant.21 While at present there is no international modal stage of a multimodal transport, the provisions
convention in force to govern
of the Rotterdam Rules, i.e. of a
multimodal transportation, the
Importantly, and in contrast to the substantively maritime liability
extension of the Convention’s scope existing international maritime
regime, would apply to determine
of coverage to multimodal transport regimes, the Rotterdam Rules
the parties’ rights and the extent of
involving a maritime leg was have a broad scope of application any liability. Existing national laws
subject to considerable controversy and also cover contracts for
on multimodal transportation will
throughout the negotiations, as was multimodal transportation that
play no role in relation to contracts
the text of the relevant provisions involve an international sea-leg,
falling within the scope of the new
in the Rotterdam Rules.22 This was irrespective of which mode of
Convention.
due, in particular, to: (a) concerns transport is dominant.
DERXWWKHSRWHQWLDOIRUFRQÀLFWZLWK
Liability of the carrier26
unimodal conventions in the field
of road, rail, air and inland waterway carriage, which The carrier (as well as any maritime performing party,
in many instances also apply to loss arising during a such as a terminal operator)27 is under a number of
particular stage of a multimodal transport; (b) the desire obligations, breach of which gives rise to liability for
by some states to ensure the continued application of damage to, loss of or delay in delivery28 of the goods.
existing national law on multimodal transportation; The liability of the carrier under the Rotterdam Rules
(c) concerns about further fragmentation of the law LV VXEMHFW WR ¿QDQFLDO OLPLWDWLRQ DUWLFOH 29 with
applicable to international multimodal transportation; limitation amounts higher than in the Hague-Visby
and (d) the fact that the substantive content of the Rules or Hamburg Rules30 and subject to a two-year time
liability regime is based exclusively on considerations bar (article 62), which may be extended by declaration
and principles applicable to sea carriage, rather than DUWLFOH7KHFDUULHUPD\ORVHWKHULJKWWR¿QDQFLDO
limitation of liability in case of recklessness or intention
multimodal transportation.23
(article 61).
7KH LVVXH RI SRWHQWLDO RYHUODSFRQÀLFW ZLWK H[LVWLQJ
international conventions applicable to road, rail, air The carrier’s main obligations include the duty to
and inland waterway carriage24 has, to some extent, been carry the cargo and deliver the goods to the consignee
addressed in a separate provision (article 82), which gives (article 11), a duty of care during the carrier’s
precedence to these conventions to
period of responsibility, i.e. from
the extent that they apply beyond
receipt to delivery of the goods
pure unimodal transportation by Existing national laws on
(articles 13 (1) and 12), and a duty
multimodal transportation
road, rail, air and inland waterway,
to exercise due diligence to make
will play no role in relation to
respectively.25 However, otherwise,
and maintain the vessel seaworthy
contracts falling within the
substantive rules pertaining to other
(article 14);31 this includes (a) the
scope of the new Convention
physical seaworthiness of the vessel;
modes of transport come into play
as well as (b) manning, supply and
only in relation to losses “arising
solely before or after sea carriage”, and only in the HTXLSPHQWDQGFWKHFDUJRZRUWKLQHVVRIWKHYHVVHO
form of “mandatory provisions on the carrier’s liability, In contrast to the Hague-Visby Rules, the seaworthiness
transport record is issued” (article 6). However, in these
cases, the Rotterdam Rules would apply as between the
carrier and consignee, controlling party or holder that is
not an original party to a contract excluded under article
6 (article 7).
126
obligation is a continuous one, applying throughout the UDQJLQJ LQIRUPDWLRQ DQG GRFXPHQWDWLRQ UHTXLUHPHQWV
carriage, and there is no general reversal of the burden (article 29), which may become particularly relevant in
the context of new maritime security
of proof regarding the exercise of
UHTXLUHPHQWV37 They also include
due diligence (cf. article IV, r.1 of
The shipper’s obligations and
the Hague-Visby Rules). Instead, liability are more extensive than strict liability (see article 30 (2))
for loss arising from the shipment
the central provision dealing with in the Hague-Visby Rules and
of dangerous cargo (article 32) and
liability of the carrier for loss, damage are set out in some detail in a
the failure to provide timely and
or delay in the context of a cargo separate chapter (chapter 7).
accurate contract particulars (article
claim, article 17, which sets out a list
31 (2)).
of exceptions to liability, including
some that differ from the list in article r. 2 of the HagueVisby Rules,32 also contains detailed and complex rules Importantly, the relevant rules on burden of proof 38
are more onerous than under existing maritime
on burden of proof.
liability regimes, which could have important practical
Worth noting in this respect are a number of points which implications for the outcome of claims by the carrier
are of particular relevance in the context of contracts against the shipper, in particular in cases where
conducted on the carrier’s standard terms, i.e. contracts unseaworthiness of the vessel may have contributed to a
of adhesion. First, the carrier’s period of responsibility loss arising from the carriage of dangerous cargo. Thus,
IURPUHFHLSWWRGHOLYHU\PD\EHFRQWUDFWXDOO\GH¿QHG whereas under the Hague-Visby Rules, in cases where
(i.e. restricted), to cover only the period from initial XQVHDZRUWKLQHVV FDQ EH LGHQWL¿HG DV D FRQWULEXWRU\
ORDGLQJ WR ¿QDO XQORDGLQJ XQGHU WKH FRQWUDFW DUWLFOH cause, a shipper would in most instances be free from
12 (3)). Secondly, the carrier’s responsibility for liability. Under the Rotterdam Rules, a shipper could
certain functions, such as loading, handling, stowing become liable in full for any of the potentially extensive
and unloading may be contractually transferred to the losses sustained by the carrier (e.g. loss of a vessel, thirdshipper, documentary shipper33 or consignee (article 13 party liability). In this context, it is worth highlighting
(2)). Thirdly, the carrier’s liability for special cargo and that the potentially very extensive liability of the shipper
for live animals may be contractually limited or excluded is not subject to any monetary limitation.39
(article 81). Therefore, a carrier may only be liable from
loading to discharge and for only some of a carrier’s $¿QDOFRQVLJQHHZKRPDNHVDFODLPXQGHUWKHFRQWUDFW
may also become liable for breach of any of the shipper’s
functions set out in the Convention.
obligations.40 Moreover, a so-called “documentary
Moreover, the rules on burden of proof34 within the shipper”, i.e. a party who is not the contracting shipper
VFKHPHRIWKH&RQYHQWLRQDSSHDUWRGLIIHUVLJQL¿FDQWO\ but who “accepts to be named as “shipper” in the
from those in the established maritime liability transport document”(article 1(9)), such as an FOB seller,
conventions, favouring the carrier, in particular in cases is also liable for any breach of a shipper’s obligations,
where unseaworthiness of the vessel has contributed to in addition to the shipper himself (article 33).
a loss.35 The Rotterdam Rules envisage proportional
allocation of liability in these cases, whereas under the Delivery of the goods
Hague-Visby Rules a carrier would be liable in full,
unless it could prove the proportion of loss not due to It should also be noted that there is a separate chapter
EUHDFK RI LWV VHDZRUWKLQHVV REOLJDWLRQ 7KLV UHÀHFWV dealing with delivery of the goods (chapter 10), providing
an important shift in commercial risk allocation to the for a new obligation on the part of the consignee
to accept delivery of the goods
detriment of shippers.
from the carrier (article 43) and
There is a separate chapter
including detailed rules on delivery
Liability of the shipper36
dealing with delivery of the
of the goods under different types
goods (chapter 10).
The shipper ’s obligations and
of transport documents/electronic
liability are more extensive than in
records. Importantly, the chapter also
the Hague-Visby Rules and are set out in some detail in includes complex new rules to effectively shift the risk of
a separate chapter (chapter 7). They include fault-based delayed bills of lading from carrier to consignee: in cases
liability relating to the preparation and delivery for ZKHUH WKH ¿QDO FRQVLJQHHHQGRUVHH RI JRRGV VKLSSHG
carriage of the goods (article 27) and in respect of wide- under a negotiable transport document (i.e. a bill of
127
lading), typically a CIF41 buyer in a chain of contracts, Volume contracts43
LVQRWL¿HGRIWKHDUULYDORIWKHJRRGVDWGHVWLQDWLRQ
Although in general minimum
EXWDLVODWHLQUHTXHVWLQJGHOLYHU\
standards of liability apply to contracts
of the goods from the carrier, for
So-called “volume contracts”,
covered by the Rotterdam, this is
whatever reason, or (b) is not ZKLFKIRUWKH¿UVWWLPHDUH
subject to an important exception.
yet in possession of the bill of regulated in an international
So-called “volume contracts”, which
lading, the carrier may, in certain convention, are subject to
for the first time are regulated in
circumstances, deliver the goods special rules providing for
an international convention, are
without the need for surrender extensive freedom of contract.
subject to special rules providing
of the bill of lading (article 47), This represents an important
for extensive freedom of contract.
or invoke wide-ranging rights to novel feature, distinguishing
This represents an important novel
dispose of the goods (article 48). the new Rotterdam Rules from
7KXVD¿QDOFRQVLJQHHHQGRUVHH H[LVWLQJFRQYHQWLRQVLQWKH¿HOG feature, distinguishing the new
Rotterdam Rules from existing
having paid his seller, under a and, therefore is of particular
FRQYHQWLRQVLQWKH¿HOGDQGWKHUHIRUH
CIF contract, against tender of a interest.
it is of particular interest. By way of
negotiable transport document,
background, it seems appropriate to
may be left empty-handed and unable to sue the carrier
EULHÀ\UHFDOOWKHUDWLRQDOHIRUPDQGDWRU\UHJXODWLRQRI
for misdelivery. The provisions, apparently intended
to provide a solution to the practical problem of OLDELOLW\ LQ D ¿HOG ZKHUH FRPPHUFLDO SDUWLHV FRQWUDFW
negotiable bills of lading being delayed in a chain of with one another, and therefore, normally freedom of
international transactions involving different buyers contract reigns.
and banks, may seriously undermine the document of
title function of the negotiable bill of lading, which is All international liability regimes for the carriage of
goods by sea currently in force (i.e. the Hague, Haguekey to its use in international trade.42
Visby and Hamburg Rules) establish minimum levels of
carrier liability, which apply mandatorily, that is to say
Mandatory nature of liability
the relevant substantive rules on liability of the carrier
Article 79 sets out the general rule on mandatory PD\ QRW EH FRQWUDFWXDOO\ PRGL¿HG WR WKH GHWULPHQW
44
application of the liability regime. Accordingly, of the shipper or consignee. Contractual increase of
the carrier’s liability is, however,
unless otherwise provided in the
permitted.45 The mandatory scope of
Convention, a contractual term is By establishing minimum
void (a) if it excludes or limits the levels of carrier liability, which application of the relevant regimes
extends to contracts of carriage
obligations or liability of the carrier apply mandatorily and may
which are not individually negotiated
QRWEHFRQWUDFWXDOO\PRGL¿HG
or maritime performing party; and
between the parties, but are conducted
existing
liability
regimes
(b) if it excludes, limits or increases
seek
to
ensure
the
protection
on the carrier’s standard terms, as
the obligations or liability of shipper,
typically contained in or evidenced
consignee, controlling party, holder of cargo interests with little
bargaining
power,
i.e.
small
by a bill of lading or other transport
or documentary shipper (e.g. FOB
shippers
and
third-party
document issued by the carrier.46
seller). Thus, in contrast to the
consignees, against unfair
Hague-Visby Rules, it is not only the
contract terms unilaterally
The main purpose of this approach,
carrier who is subject to mandatory
introduced by the carrier
common to all established
minimum liability standards under
in his standard terms of
international liability regimes, is to
the Convention, but also the shipper contract.
reduce the potential for abuse in the
(and potentially anyone liable for
context of contracts of adhesion,
breach of the shipper’s obligations,
XVHG ZKHUH SDUWLHV ZLWK XQHTXDO
such as the consignee and documentary shipper). While
WKHFDUULHU¶VOLDELOLW\ZKLFKLVVXEMHFWWRD¿QDQFLDOFDS bargaining power contract with one another. In liner
may be increased contractually, the shipper’s liability carriage, where few large liner companies dominate the
47
may not. However, it should again be noted that the global market and goods are typically shipped under
shipper’s mandatory liability under the Rotterdam bills of lading or other standard form documents – issued
Rules is, in any event, not subject to any monetary and signed by the carrier and usually drafted in terms
favourable to the carrier, with no scope for negotiation
limitation.
128
± WKH SRWHQWLDO IRU DEXVH DULVLQJ IURP WKH XQHTXDO
bargaining power of the parties is particularly obvious.
By establishing minimum levels of carrier liability,
which apply mandatorily and may not be contractually
PRGL¿HGH[LVWLQJOLDELOLW\UHJLPHVVHHNWRHQVXUHWKH
protection of cargo interests with little bargaining power,
i.e. small shippers and third-party consignees, against
unfair contract terms unilaterally introduced by the
carrier in his standard terms of contract. Thus, a central
feature of the established international legal framework
is a restriction of freedom of contract with the legislative
intent of ensuring the protection of small shippers and
consignees against unfair standard contract terms.
extensive, such as in the case of loss of or delay of a
vessel, and is not subject to monetary limitation – may
QRW EH FRQWUDFWXDOO\ H[FOXGHG OLPLWHG RU PRGL¿HG
This means that a shipper would always be exposed to
potentially extensive (and unlimited) liability under the
Rotterdam Rules for losses arising from the carriage of
dangerous cargo or breach of the obligation to provide
certain documentation, information and instruction.51
Volume contracts are exempt from the mandatory
scope of application of the liability regime, based
on the proposition that these types of contract are
FRQFOXGHG EHWZHHQ SDUWLHV RI SRWHQWLDOO\ HTXDO
bargaining power. 52 However, the definition of
Against this background, the regulation on volume “volume contract” is extremely wide and no minimum
contracts in the Rotterdam Rules, providing contracting TXDQWLW\RIFDUJRLVSUHVFULEHG$VDUHVXOWDOPRVWDQ\
parties with extensive freedom of contract, proved to be type of contract in the liner trade might be devised as
a volume contract, subject to almost complete freedom
highly controversial throughout the drafting process.48
of contract. Given that liner carriage is dominated
$YROXPHFRQWUDFWLVYHU\EURDGO\GH¿QHGDV³DFRQWUDFW by a small number of global liner-carriage operators,
of carriage that provides for the
concerns arise about the position
FDUULDJH RI D VSHFLILHG TXDQWLW\
of small shippers, who might
Parties
to
a
volume
contract
of goods in a series of shipments
face contractual terms unilaterally
may derogate from the
during an agreed period of time. provisions of the Convention
set by the carrier. Against this
7KH VSHFL¿FDWLRQ RI TXDQWLW\ PD\ (Art. 80), subject to certain
EDFNJURXQG D FHQWUDO TXHVWLRQ LV
include a minimum, a maximum conditions and subject to
whether the statutory safeguards
or a certain range” (article 1(2)). some relevant statutory limits
included in the Rotterdam Rules
Parties to a volume contract may on the right to derogate.
are effective to protect small parties
derogate from the provisions of the
against the use of volume contracts
Convention (article 80), subject to certain conditions49 as contractual devices to circumvent the mandatory
and subject to some relevant statutory limits on the right liability regime.
to derogate.50
As between carrier and shipper, derogations from the
These include – on the carrier side – the loss of the right Convention set out in a volume contract53 are binding,
WR¿QDQFLDOOLPLWDWLRQRIOLDELOLW\LQFDVHRIUHFNOHVVQHVV even if the contract has not been individually negotiated.54
or intention (article 61); and the obligation, under articles Although the shipper must be given the opportunity to
14(a) and (b) to make and keep the ship seaworthy contract on terms of the Convention, without derogation,55
DQG WR SURSHUO\ FUHZ HTXLS DQG VXSSO\ WKH VKLS 1RW LQ SUDFWLFH D VKLSSHU PD\ ¿QG LWVHOI XQGHU FRPPHUFLDO
mentioned in this context is the third aspect of the pressure to agree to a volume contract, such as a much
carrier’s seaworthiness obligation, i.e. the obligation higher freight rate that would apply unless consent was
to make and keep the vessel cargoworthy (see article given. Similarly, while third parties are only bound by
14(c)); therefore, contractual derogation in this respect volume contracts if they expressly consent to be bound,56 it
ZRXOG TXLWH VXUSULVLQJO\ EH SHUPLWWHG$V IDU DV WKH is not clear whether this will ensure the effective protection
shipper’s obligations and liabilities are concerned, no RIVPDOOWKLUGSDUW\FRQVLJQHHVZKRLQSUDFWLFHPD\¿QG
derogations are permitted regarding (a) the duty to that their only commercially viable choice is to give their
provide documentation, instructions and information consent. Thus, depending on the approach taken by courts
under article 29; and (b) the obligations and (strict) in the application of the relevant provisions, it remains to
liability arising in the context of dangerous goods, under EHVHHQZKHWKHUWKHVWDWXWRU\VDIHJXDUGVDUHDGHTXDWHWR
article 32.
ensure that notional agreement of a volume contract may
not be used as a contractual device to circumvent otherwise
It is important to note that a shipper’s liability arising applicable mandatory liability rules to the detriment of a
from breach of articles 29 and 32 – which may be small shipper or consignee.
129
The provisions on volume contracts may, if and when which strength of bargaining power matters more than
the Convention enters into force, have important it has since the advent of the Hague Rules in 1924. This
would be of particular concern
repercussions, both for commercial
from the perspective of small
contracting practice and, more generally,
The provisions on volume
shippers and consignees, who as
for the prospects of international legal contracts may, if and when the
a result of commercial pressure
XQLIRUPLW\LQWKH¿HOGRIFDUULDJHRIJRRGV Convention enters into force,
PLJKW¿QGWKHPVHOYHVERXQGE\
If, in future practice, the use of volume have important repercussions,
FRQWUDFWVZLWKFRQWUDFWXDOPRGL¿FDWLRQRI both for commercial contracting contractual terms effectively set
the provisions of the Convention becomes practice and, more generally, for unilaterally by one of a small
number of large global linerWKHQRUPWKHSRWHQWLDOEHQH¿WVDVVRFLDWHG the prospects of international
carrying companies. Larger
with a predictable internationally uniform OHJDOXQLIRUPLW\LQWKH¿HOGRI
shippers too should be aware
liability regime may, in the longer run, fail carriage of goods.
that their potentially extensive
to materialize.
liability under the Rotterdam
Rules
for
loss
arising
(at
least in part) from the carriage
Concluding remarks
of dangerous goods would be non-negotiable, even in the
As is true in respect of any new international convention, context of a volume contract. More generally, extensive
much will depend on what courts in different jurisdictions use of volume contracts in future commercial contracting
make of the complex provisions of the new Convention practice could mean effectively less rather than more
and how they interpret and apply them in practice. uniformity of liability rules at the international level.
However, as the above analysis shows, there are a
number of areas of potential concern, in particular from In relation to regulation of liability arising from
the perspective of small and medium-sized shippers and multimodal transport involving an international sea
consignees in developing countries.
leg, the new Convention adopts an approach which is
FRPSOH[DQGPD\JLYHULVHWRGLI¿FXOWLHVLQLWVSUDFWLFDO
Overall, it appears that the Rotterdam Rules are in application. Substantive liability rules vary, depending
substance more favourable to carriers than any of the on whether a loss may be attributed to a particular nonH[LVWLQJ LQWHUQDWLRQDO FRQYHQWLRQV LQ WKH ¿HOG 7KXV sea leg of the multimodal transport and on whether
the rules on burden of proof, for instance, seem to be existing international conventions governing carriage of
more advantageous to carriers than those in the Hague- goods by land or air would have applied had a separate
Visby or Hamburg Rules, with potentially important contract been made for that particular leg of the transport.
FRQVHTXHQFHVIRUWKHRXWFRPHRIOHJDOGLVSXWHVEHWZHHQ In summary, the position appears to be as follows:
carrier and cargo interests. Moreover, the obligations and
liability of the shipper, which are much more extensive
(a) in cases where a loss was not clearly attributable
and detailed than under existing maritime liability
to a particular modal stage of transport, as will
regimes, are mandatory, and the shipper’s liability is – in
often be the case in containerized transport, the
contrast to the liability of the carrier – not subject to any
substantively maritime liability regime set out in
monetary limitation. As a matter of policy, this important
the Rotterdam Rules would determine the rights
shift in commercial risk allocation to the detriment of
and liabilities of the contracting parties, even if
shippers may be of concern to those representing the
the transport was carried out mainly by land;
interests of transport users.57
(b) the position would be the same in cases where
The provisions in chapter 10 which, under certain
a loss arose during land transport, but none of
circumstances, permit the carrier to deliver the goods
the existing unimodal international conventions
without surrender of a negotiable transport document are
would have been applicable, had a separate
new and potentially problematic, as they may undermine
contract been made for the relevant land leg of
the document of title function of the negotiable bill of
transportation;
lading, which is key to its use in international trade.
(c) in cases where a loss could be attributed to a
The regulation of volume contracts in the Rotterdam
mode of transport other than sea carriage and one
Rules, also new and untested, may lead to a state of affairs
of the existing unimodal transport conventions
in which freedom of contract becomes the norm and in
would have applied (had a separate contract
130
been made), the mandatory provisions on carrier
liability, limitation of liability and time for suit
contained in the relevant unimodal convention
would apply, together with the remainder of the
Rotterdam Rules. The mixture of substantive
rules from different international conventions
which courts in different jurisdictions would, in
these cases, need to apply in context is highly
complex and clearly likely to lead to nationally
differing results.
assistance and support for capacity-building, and to
draft provisions for effective cooperation between
customs or any other appropriate authorities on trade
facilitation. Trade-supporting service providers and
importers and exporters alike stand to gain from
WKHVHQHJRWLDWLRQVPDLQO\WKURXJKWKHVLPSOL¿FDWLRQ
and harmonization of procedures and formalities in
the cross-border movement of goods and enhanced
transparency.
The WTO system is based on legal disciplines which
More generally, the complexity and considerable ensure trade openness and liberalization. Since 1947,
scope for interpretation inherent in the Convention the General Agreement on Tariffs and Trade (GATT)
PHDQVWKDWH[WHQVLYHOLWLJDWLRQPD\EHUHTXLUHGWRJDLQ (originally drafted in 1947 and incorporated without any
a clear understanding of the new rules, with courts changes in the WTO agreement in 1994) in its articles
X, VIII, and V contains disciplines
in different jurisdictions adopting
pertaining to the administration
potentially differing approaches to …the complexity and
and publication of trade regulations
interpretation and application of considerable scope for
58
(article X), the fees and formalities
the provisions. The likelihood of interpretation inherent in
conflicting legal proceedings, and the Convention means
connected with importation and
ultimately, conflicting judgments that extensive litigation
exportation (article VIII), and
at the international level is further PD\EHUHTXLUHGWRJDLQ
the freedom of transit (article V).
compounded by the fact that, as a clear understanding of
Against the background of the widealready noted, 59 chapters in the the new rules, with courts
ranging tariff reductions achieved
Convention setting out rules on in different jurisdictions
in the Uruguay Round, efforts to
adopting
potentially
differing
jurisdiction and arbitration are
address non-tariff barriers to trade
optional for Contracting States, and approaches to interpretation
have become more pressing in
as a result, contractual jurisdiction and application of the
recent years. The increased use
provisions.
and arbitration clauses may be valid
of information technologies and
under the same conditions in only
electronic information transmission,
some but not all Contracting States.
together with globalized production
7KXV PXFK FRVWO\ OLWLJDWLRQ PD\ EH UHTXLUHG EHIRUH networks with reduced inventories, have led countries
a desirable degree of legal certainty may be achieved. WR VHHN WKH UHYLHZ FODUL¿FDWLRQ DQG LPSURYHPHQW RI
This prospect appears to be particularly unfortunate in the relevant GATT disciplines so as to include trade
respect of a new international Convention which aims facilitation disciplines as another cornerstone of the
to establish internationally uniform rules in a variety of multilateral trading system.
jurisdictions; it may also be of concern to commercial
parties whose rights and liabilities may in future be 2.
2009: Trade facilitation negotiations
regulated by the Rotterdam Rules.
pick up momentum
B.
NEGOTIATIONS ON TRADE
FACILITATION AT WTO
1.
Facilitating trade and transport:
How can WTO disciplines help?
Negotiations on trade facilitation have been ongoing
since 2004 as part of the World Trade Organization
(WTO) Doha Development Round of trade negotiations.
With these negotiations, members aim at expediting
the release, clearance and movement of goods. Other
objectives of the negotiations are to enhance technical
The negotiations on trade facilitation are an integral
part of the Doha trade negotiations. This means that
negotiations on trade facilitation are dependent on
progress made in the other areas of the Doha Round.
The failure to reach an agreement on the main areas of
the Doha Round in July 2008 also affected the meetings
of the WTO Negotiating Group on Trade Facilitation
(NGTF). In particular at the end of 2008 and the
beginning of 2009 the overall pace of negotiations in
the NGTF slowed down, with less time being devoted
to the review of the textual proposals, and comments
made by delegations limited to oral interventions. This
situation changed in the second half of 2009, when
signs of a possible comprise on contentious issues of
the Doha Round emerged, and the delegates adopted
an ambitious work plan for the period up until the
ministerial conference scheduled for early December
'HOHJDWLRQVDUHQRZDLPLQJDW¿QDOL]LQJD¿UVW
draft text for a new WTO agreement on trade facilitation
by that date.
By the end of 2006, delegations had put forward more
than 70 trade facilitation measures for consideration
in the negotiations. These measures were grouped into
14 categories, ranging from the publication of traderelated regulations to the clearance and movement
of goods and the cross-border exchange of customs
information. During 2007 and 2008, these provisions
were further consolidated, where possible, so that in
early 2009 the core set of proposed measures was
narrowed down to 42 measures in 12 categories.
Furthermore, the proposed measures have now been
drafted using legal language, so that the proposals
UHÀHFWFRQFUHWHOHJDOREOLJDWLRQV1HJRWLDWLRQVLQ
FRQFHQWUDWHG RQ UHYLHZLQJ DQG IXUWKHU UH¿QLQJ WKH
proposed text of these legal provisions. For this purpose
the NGTF meets in informal drafting sessions, during
which the text of each of the proposed provisions
is examined, and comments or alternative drafting
suggestions by delegations are incorporated.
3.
Measures proposed: Improvements to
transparency, delays and international
transit
When time matters
A major part of the trade facilitation measures proposed
focuses on the time needed for the release and clearance
of goods, taking into account not only the loss of time,
EXWDOVRLWVFRQVHTXHQFHVLQWHUPVRISRVVLEOHGDPDJHV
missed trading opportunities and increased costs,
affecting the competitiveness of the products.
To address this issue, members propose, for example, that
average release and clearance times at border posts should
be recorded and published; this would allow traders to make
informed decisions and weigh possible delays. Further
proposals include:
(a)
The review and simplification of existing
procedures, formalities, fees, and the payment
of those fees;
131
(b)
The introduction of risk management, and in
combination with it, the introduction of postclearance audit procedures to reduce incidences
of physical inspection;
(c)
The possibility for advance processing and the
release of goods with final determination of
customs value and duty payment still pending,
in order to enable faster release at arrival;
(d)
The setting up of a single window, and the
acceptance by authorities of commercially
available documents and copies to reduce both
the number of documents and of submission
points;
H 7KH SRVVLELOLW\ RI DZDUGLQJ VSHFLDO VLPSOL¿HG
procedures to economic operators with a good
track record of compliance, so-called Authorized
Economic Operators or traders, or to those with
special needs, such as, for example, express
shipment carriers;
(f)
Elimination of pre-shipment inspections and the
mandatory use of customs brokers.
When transparency matters
Another very important area of the proposals focuses
on strengthening transparency. Transparency provisions
are at the heart of WTO, as they are crucial for
LPSURYLQJ JRYHUQDQFH DQG FRQ¿GHQFH LQ WKH WUDGLQJ
system. In addition to the current non-selective manner
of the transparency provisions contained in GATT,
proposals submitted in the NGTF attempt to determine
a list of selective documents which countries should
publish. This list should also include new information
UHTXLUHPHQWVVXFKDVGHVFULSWLYHRXWOLQHVRILPSRUWDQG
H[SRUWSURFHGXUHVDQGWKHUHTXLUHGIRUPV)XUWKHUPRUH
members are also concerned with access to published
information. Current proposals prescribe the means
of publication; they newly include the internet, and
GLVVHPLQDWLRQWKURXJKHQTXLU\SRLQWV7KLVZRXOGDOORZ
information to be provided in a more user-friendly and
accessible way.
Similar to provisions in the WTO agreement on rules
of origin, members seek to introduce legally binding
advance rulings applying to customs areas such as the
FODVVL¿FDWLRQ DQG WKH REMHFWLYH FULWHULD RI YDOXDWLRQ
Advance rulings enhance predictability and certainty
for traders.
132
When governance matters
Finally, members also proposed strengthening
good governance in trade. In this respect, countries
should hold regular consultations with private sector
stakeholders, coordinate the responsibilities and
operations of the various public agencies present at
the borders, and strengthen the appeal systems.
When transit is essential
Landlocked countries have attached high priority to the
review of GATT article V, which deals with freedom
of transit. In the negotiation process, proposals in this
area are, therefore, often submitted jointly by several
landlocked countries. Transit countries regularly
FRQWLQXHWRGHEDWHDQGTXHVWLRQWKHPLQSDUWLFXODU
when it comes to the issue of restrictions on the
freedom of transit, whether these are legitimate or
are perceived as illegitimate. The limited amount
of legal interpretation of the principle of freedom
of transit weighs heavily over these discussions.
Transit fees and charges are under discussion, as is the
administration of transit-related guarantee systems.
Furthermore, members have been debating the
extent to which the current and the newly proposed
disciplines extend to goods moved via fixed
infrastructure, such as electricity grids and pipelines.
More than 6 per cent of trade by volume is actually
moved in pipelines across borders. Some delegations
have proposed including dedicated disciplines related
WR¿[HGLQIUDVWUXFWXUHVLQDQHZDJUHHPHQW
4.
Flexibility versus uniformity –
the implementation debate
While negotiating the legal text of the measures,
members do not leave out considerations and
discussions related to the implementation of the
disciplines.
In general, WTO negotiations aim at establishing
a set of rules that are applied and can be enforced
JOREDOO\ 7KLV UHTXLUHV D XQLIRUP VHW RI UXOHV DQG
at the same time, implementation capacity in all
countries. But implementation capacity is what
distinguishes members most, and WTO agreements
already in existence have suffered considerably
from a lack of implementation. The challenge for
delegations in these negotiations is, therefore, to draft
a set of rules that can be applied uniformly by all
PHPEHUVZKLOHDOORZLQJÀH[LELOLWLHVIRUGHYHORSLQJ
countries in their application of the commitments. To
achieve this objective, delegations work along two
main assumptions: First, the level of ambition of the
negotiations should take into account the development
context and needs of developing countries; and
second, the special and differential treatment
(SDT) provisions for developing countries should
JXDUDQWHH WKHP ÀH[LELOLW\ LQ LPSOHPHQWDWLRQ DQG
link the application of the commitments to the
DFTXLVLWLRQ RI LPSOHPHQWDWLRQ FDSDFLW\ WKURXJK
technical assistance and capacity-building provided
by the donor community. While SDT provisions
in earlier WTO agreements simply allowed full
exemptions of application, or transitional periods, in
the negotiations on trade facilitation, delegations have
been seeking to ensure that implementation capacity
is built up.
Level of ambition: countries’ trade facilitation needs
and priorities
Countries’ levels of ambition in the negotiations
and their targeted outcomes vary depending on each
FRXQWU\¶V LQGLYLGXDO FRQWH[W HFRQRPLF ¿QDQFLDO
development or trading), which determines its trade
facilitation priorities and needs. The assessment of
countries’ needs and priorities has therefore been
inscribed as a distinct objective in the negotiation
mandate. Only a few countries, however, conducted
such priority assessments at an early stage of the
negotiations – the most active being landlocked
developing countries (LLDCs). Later on in the
negotiations, other countries followed suit, but with a
core set of measures already on the table, they limited
the assessments to implementation, and in particular,
to technical assistance needs and priorities.
For the purposes of assessing their trade facilitation
technical assistance needs and priorities, countries
mostly use the WTO Trade Facilitation SelfAssessment Guide, which is based on a gap analysis
methodology and was developed by the World Bank in
collaboration with other Annex D organizations. The
technical assistance support programme was set up
by donors at the WTO secretariat to provide support
for national trade facilitation self-assessments and
was implemented over a two-year period. By
September 2009, 96 developing countries had
UHTXHVWHG DVVLVWDQFH LQFOXGLQJ /'&V DQG
assistance was provided to date to 69 countries
¿J
133
Figure 25
WTO trade facilitation needs and priorities: self-assessment status
99
87
Grand total
12
25
23
Latin American and
Carribean Members
2
5
European and East
1
European Members
4
29
29
Asian Members
40
34
African Members
6
0
Source:
20
40
60
80
100
120
UNCTAD secretariat.
Flexibilities and capacity acquisition: the discussions
on the SDT mechanism
The discussions on the special and differential
treatment provisions have brought to light the different
H[SHFWDWLRQVRIFRXQWULHVZLWKUHJDUGWRÀH[LELOLWLHVIRU
the application of the newly negotiated commitments. In
2009, delegations designated a “Friend of the Chair” to
undertake informal discussions on the SDT mechanism
and to facilitate consensus-building among members
on this issue.
The discussions so far hint at main of areas of convergence.
Developing countries would have the possibility to
differentiate among the negotiated disciplines with regard
to the timing and conditions of application. Measures that
cannot be implemented at entry into force in a sustainable
PDQQHUFDQEHQRWL¿HGWRWKHRWKHU:72PHPEHUVDQG
ZLOOEHFRQVLGHUHGIRUGLIIHUHQWW\SHVRIÀH[LELOLWLHV7KH
W\SHV RI ÀH[LELOLWLHV FXUUHQWO\ EHLQJ GLVFXVVHG DUH D
deferred application times; and (b) deferred application
WLPHVDQGWHFKQLFDODVVLVWDQFHIRUFDSDFLW\DFTXLVLWLRQ
Each developing country would thus submit a schedule
RIFRPPLWPHQWVUHÀHFWLQJWKHFDWHJRUL]DWLRQRIPHDVXUHV
E\ÀH[LELOLW\'HWDLOVRIWKH6'7PHFKDQLVPVXFKDVWKH
modalities and timing of the scheduling of the measures,
the monitoring of delivery of technical assistance, and
the application of the dispute settlement provisions are
still under discussion.
With the negotiations entering a more technical phase
and expected to lead to a provisional text of the
agreement, a successful conclusion of the negotiations
rests on the ability of delegations to reach consensus on
the SDT mechanism.
C.
OTHER LEGAL AND REGULATORY
DEVELOPMENTS AFFECTING
TRANSPORTATION
1.
Piracy and armed robbery against ships
The great number of disturbing incidents of piracy
and armed robbery against ships, particularly off the
Somali coast and in the Gulf of Aden, have become an
increasing concern not only for the maritime industry
that is heavily affected by these incidents, but also for
international organizations including the International
Maritime Organization (IMO) and the United Nations.
-RLQWHIIRUWVDUHEHLQJPDGHLQYDULRXVIRUXPVWR¿QG
DGHTXDWHUHVSRQVHVWRSLUDF\DQGWRHQVXUHWKDWDOOHJHG
pirates, once caught, are successfully prosecuted and
EURXJKWWRMXVWLFH-RLQWHIIRUWVDUHEHLQJPDGHWR¿QG
DGHTXDWHUHVSRQVHVWRSLUDF\
It should be noted that the 1988 IMO Convention for
the Suppression of Unlawful Acts Against the Safety
of Maritime Navigation (SUA Convention) provides a
134
basis for its States parties to prosecute pirates. Although
WKH&RQYHQWLRQGRHVQRWFRQWDLQDQH[SUHVVGH¿QLWLRQ
of piracy and armed robbery against ships, its article
3 (1)(a) stipulates that any person commits an offence
if that person unlawfully and intentionally “seizes or
exercises control over a ship by force or threat thereof or
any other form of intimidation”. Under the Convention,
appropriate measures need to be taken by states to make
this and other offences punishable by penalties, to
establish jurisdiction over those, and to accept delivery
of persons responsible for or suspected of committing
such offences.60
represented the highest rise in reported hostage-taking and
hijackings ever recorded by the IMB’s Piracy Reporting
Centre. Thirty-two crew members were injured, 11 were
killed, and 21 were missing or presumed dead. The total
number of incidents in which guns were used was 139,
compared to 72 in 2007.65
The sharp increase in both the number and severity of
attacks in waters off the coast of Somalia was noted
with concern by IMO’s Maritime Safety Committee
06&DWLWVHLJKW\¿IWKVHVVLRQLQ1RYHPEHU,W
was also noted that most of the attacks worldwide had
occurred or had been attempted in territorial waters
In addition, the 2005 amendments to the SUA Convention while the ships were at anchor or berthed. In many
introduced provisions covering cooperation and of the reports received, the crews had been violently
procedures to be followed if a State
attacked by groups of 5 to 10 people
party desires to board on the high The sharp increase in both
carrying knives or guns.66 During
the eighty-fourth session of the
VHDVDVKLSÀ\LQJWKHÀDJRIDQRWKHU the number and severity of
MSC, a correspondence group had
6WDWH SDUW\ ZKHQ WKH UHTXHVWLQJ attacks in waters off the coast
been established, in order to review
party has reasonable grounds to of Somalia was noted with
and update the IMO guidance for
suspect that the ship or a person on concern by the IMO’s Maritime
preventing and suppressing piracy
board the ship has been or is about Safety Committee (MSC) at its
to be involved in the commission 85th session in November 2008. and armed robbery against ships.67
$IWHUFRQVLGHULQJWKH¿QDOUHSRUWRI
of an offence under the 1998 SUA
&RQYHQWLRQDUWLFOHELV7KHDXWKRUL]DWLRQRIWKHÀDJ the correspondence group,68 and after deliberating on a
number of key issues, the MSC at its eighty-sixth session,
VWDWHLVUHTXLUHGEHIRUHVXFKERDUGLQJ61
held from 27 May to 5 June 2009,69 agreed on revised
guidance, and in this context approved circulars entitled
Recent statistics on piracy
“Recommendations to Governments for preventing and
Instances of piracy are monitored both by IMO, which suppressing piracy and armed robbery against ships”70
FLUFXODWHVPRQWKO\DQGTXDUWHUO\UHSRUWVRQSLUDF\DQG and “Guidance to shipowners and ship operators,
armed robbery against ships,62 and by
shipmasters and crews on preventing
the ICC International Maritime Bureau
and suppressing acts of piracy and
(IMB) – a specialized division of the Worldwide, in 2008, a total number armed robbery against ships.” 71
International Chamber of Commerce of 49 vessels were hijacked,
The guidance to shipmasters and
(ICC) – which acts as a focal point in 889 crew were taken hostage, and crew includes a new annex aimed at
a further 46 vessels reported as
WKH¿JKWDJDLQVWDOOW\SHVRIPDULWLPH
those who may be kidnapped or held
EHLQJ¿UHGXSRQ
crime and malpractice. 63 It should
hostage for ransom, based on the
EHQRWHGWKDWGLIIHUHQWGH¿QLWLRQVRI
current United Nations Department
piracy and armed robbery against ships are used by the of Safety and Security guidelines entitled “Surviving as
IMO and the IMB, which explains some differences in DKRVWDJH´ZKLFKXQGHUZHQWDSSURSULDWHPRGL¿FDWLRQ
the number of recorded instances.64 According to the to be applicable in the maritime context.
annual 2008 ICC–IMB “Piracy and armed robbery against
ships” report, incidents of piracy and armed attacks ,WZDVDOVRDJUHHGWKDWDVSHFL¿F³*XLGDQFHRQSLUDF\
against shipping increased at an unprecedented rate. A and armed robbery against ships in waters off the coast of
total of 293 incidents were recorded by the IMB for 2008, Somalia”72 should include “Best management practices
FRQVWLWXWLQJDQSHUFHQWLQFUHDVHRYHU¿JXUHV to deter piracy in the Gulf of Aden and off the coast
Attacks off Somalia and in the Gulf of Aden, however, of Somalia”; these had been developed by industry
rocketed by 200 per cent last year, according to the report. organizations including the International Association
Worldwide, in 2008, a total of 49 vessels were hijacked, of Independent Tanker Owners (INTERTANKO), the
889 crew were taken hostage, and a further 46 vessels International Chamber of Shipping (ICS), the Baltic
ZHUHUHSRUWHGDVKDYLQJEHHQ¿UHGXSRQ7KHVH¿JXUHV and International Maritime Council (BIMCO), the
International Association of Dry Cargo Shipowners
(INTERCARGO) and IMB, and were issued by the ICS
in February 2009. In addition, the MSC, at its eightysixth session, approved a draft resolution containing
amendments to the “Code of practice for the investigation
of crimes of piracy and armed robbery against ships”,73
for consideration by the IMO Assembly later in 2009.
Multilateral cooperation to combat piracy
135
areas, which was convened by IMO in Djibouti, adopted a
“Code of conduct concerning the repression of piracy and
armed robbery against ships in the Western Indian Ocean
and the Gulf of Aden”. Signatories to the code of conduct
undertake wide-ranging commitments to cooperate in
seizing, investigating and prosecuting pirates in the
region, and to review their relevant national laws. The
FRGHRIFRQGXFWDOVRDOORZVDXWKRUL]HGRI¿FLDOVWRERDUG
the patrol ships or aircraft of another signatory. By the
HQGRIWKH¿UVWTXDUWHURIQLQHFRXQWULHVKDGVLJQHG
the code of conduct, namely Djibouti, Ethiopia, Kenya,
Madagascar, the Maldives, the Seychelles, Somalia, the
United Republic of Tanzania, and Yemen.75
The increase in acts of piracy in recent years has led to
enhanced cooperation at the international and regional
level. For instance, IMO, which has maintained a
leading role in the coordination
of international efforts to tackle
The United Nations has also been
The increase in acts of piracy
piracy, has taken action to increase
actively engaged in the process of
in recent years has led to
awareness of the problem, and
IRUPXODWLQJ DGHTXDWH UHVSRQVHV
enhanced cooperation at the
in cooperation with the shipping international and regional level.
to the challenge of piracy, mainly
industry advises on measures that
through the Security Council, but
ships can take in the event of an
also through other forums.76 The
attack. Moreover, as part of its technical cooperation PDWWHU RI SLUDF\ RII 6RPDOLD ZDV ¿UVW EURXJKW WR WKH
programme, IMO is assisting countries in various regions attention of the Security Council by IMO in 2005.
to build capacity, so that they can effectively contribute 'XULQJLQLWLDOO\DWWKHUHTXHVWRIWKH7UDQVLWLRQDO
to overall efforts to combat piracy, including through Federal Government of Somalia, and later as a result
relevant national legislation.
of the escalation of the number of incidents which led
to a further deterioration of the situation, the Security
In response to the unprecedented escalation in the Council adopted, under Chapter VII of the Charter
number of acts and attempted acts of piracy and armed of the United Nations, resolutions 1814 (2008), 1816
robbery off the coast of Somalia and the hijacking of (2008), 1838 (2008), 1844 (2008), 1846 (2008) and 1851
ships and seafarers for ransom in the past few years, (2008). These resolutions were intended to address the
the IMO Assembly adopted resolution A.1002(25)74 issue of piracy, including the delivery of humanitarian
in November 2007. The resolution, inter alia, sets aid to Somalia and the protection and escorting of
out a number of measures that
ships employed by the World Food
Governments and the shipping
Programme. They also envisaged a
industry should adopt with a view to The United Nations has also
number of measures to be put in place
been actively engaged in
minimizing the risks of falling victim
by states, with a view to bringing the
the process of formulating
to such incidents. The resolution
situation under control.77 With the
DGHTXDWHUHVSRQVHVWRWKH
UHTXHVWHG WKH 7UDQVLWLRQDO )HGHUDO
consent of the Transitional Federal
challenge of piracy.
Government of Somalia to take
Government of Somalia, military
specific actions; called upon the
personnel from patrolling forces will
countries in the region to conclude, in cooperation be allowed to enter the territorial waters of Somalia for
with IMO, a regional agreement to prevent, deter and the purpose of suppressing acts of piracy and armed
suppress piracy and armed robbery against ships, and robbery at sea, and to use all necessary means to repress
WRLPSOHPHQWLWDVVRRQDVSRVVLEOHDQGUHTXHVWHGWKH such acts. This will be done “in a manner consistent with
Secretary-General of IMO to consult with Governments such action permitted on the high seas with respect to
and organizations interested in providing technical piracy under relevant international law.”78
assistance to Somalia and nearby coastal states, and to
enhance the capacity of these states to give effect to the Pursuant to Security Council resolution 1851, the
resolution, as appropriate.
Contact Group on Piracy off the Coast of Somalia was
established on 14 January 2009, at a meeting held at
In January 2009, a high-level meeting of 17 states from WKH8QLWHG1DWLRQV+HDGTXDUWHUVLQ1HZ<RUN,WVDLP
the Western Indian Ocean, Gulf of Aden and Red Sea is “to facilitate discussion and coordination of actions
136
among states and organizations to suppress piracy off
the coast of Somalia”, and it will report periodically
to the Security Council on the progress of its work.
The contact group established four working groups
to address different piracy-related issues. Working
Group 1 will deal with activities related to military and
operational coordination and information-sharing, and
to the establishment of the regional coordination centre.
It will be convened by the United Kingdom, with the
support of IMO. Working Group 2 will be convened
by Denmark to address judicial aspects of piracy, with
WKH VXSSRUW RI WKH 8QLWHG 1DWLRQV 2I¿FH RQ 'UXJV
and Crime (UNODC). The United States will convene
Working Group 3 to strengthen shipping self-awareness
and other capabilities, with the support of IMO. Egypt
will convene Working Group 4 to improve diplomatic
efforts on all aspects of piracy.79
recently. South Africa was also contemplating escorting
merchant ships between South Africa and Somalia.82
Other individual states, and regional and international
organizations such as NATO, have also contributed with
their naval forces to efforts at preventing and deterring
piracy attacks off the coast of Somalia.83
Recognizing the broader context, the Secretary-General
of the United Nations has called for a multifaceted
approach to combating piracy “to ensure that the political
process and the peacekeeping efforts of the African
Union and the strengthening of institutions work in
tandem.”84
2.
Overview of recent developments relating
to maritime and supply-chain security
(a) World Customs Organization – SAFE Framework
Also in response to Security Council resolution 1851
of Standards
(2008), which had noted with concern the lack of
capacity, domestic legislation and clarity about how The World Customs Organization (WCO), the only
to deal with pirates following their capture, the IMO intergovernmental organization with worldwide
membership exclusively focused on
/HJDO&RPPLWWHHDWLWVQLQHW\¿IWK
customs matters, is particularly noted
session held from 30 March to 3
The Secretary-General of the
for its work on the development of
April 2009, informed states that
United Nations has called for
JOREDOVWDQGDUGVLQFOXGLQJLQWKH¿HOG
the IMO secretariat intended to a multifaceted approach to
RIVLPSOL¿FDWLRQDQGKDUPRQL]DWLRQ
review existing national legislation combating piracy.
of customs procedures, trade supplyto prevent and punish the crimes
chain security, facilitation of
of piracy and armed robbery at sea
as part of IMO’s anti-piracy strategy. In this context, international trade, and global customs capacity building
member States were urged to submit information and programmes, many of which focus on developing
countries. In 2005, the Council of the WCO adopted
the texts of their national legislation on piracy.80
the Framework of Standards to Secure and Facilitate
Other international efforts to coordinate counter-piracy Global Trade (the SAFE Framework), which has fast
operations include the establishment of the Maritime gained widespread international acceptance as the main
Security Centre (Horn of Africa), set up by the European global supply-chain security framework. As of May
Union (EU) as part of the European Security and Defence 2009, 156 countries had expressed their intention to
Policy Initiative, which aims to provide a service to implement the SAFE Framework.85 The core features of
mariners in the region in support of the resolutions of the the SAFE Framework have been presented in previous
United Nations Security Council, and the EU–NAVFOR editions of the Review of Maritime Transport. One of
Somalia (Operation Atalanta) naval mission, set up in the integral aspects of the customs-to-business network
November 2008 by the Council of the European Union arrangements envisaged by the SAFE Framework is
to improve maritime security off the Somali coast by the concept of the Authorized Economic Operator
preventing and deterring pirate attacks and helping $(2GH¿QHGDVD³SDUW\LQYROYHGLQWKHLQWHUQDWLRQDO
safeguard merchant shipping in the region.81 Another movement of goods … that has been approved by or on
multinational task force, namely Combined Task Force behalf of national customs administrations as complying
151, comprised of naval forces of the United States, the ZLWK WKH :&2 RU HTXLYDOHQW VXSSO\FKDLQ VHFXULW\
United Kingdom, Denmark and Turkey, was established standards. AEOs include, inter alia, manufacturers,
to counter piracy operations in and around the Gulf importers, exporters, brokers, carriers, consolidators,
of Aden, the Arabian Sea, the Indian Ocean and the intermediaries, ports, airports, terminal operators,
Red Sea. In addition, Chinese and Japanese warships integrated operators, warehouses and distributors.”86
have joined the anti-piracy patrols in the Gulf of Aden Detailed AEO guidelines were integrated into a revised
version of the SAFE Framework, in June 2007. The
UHTXLUHPHQWVIRU$(2UHFRJQLWLRQDSSOLFDEOHWR$(2V
and/or to customs administrations, were presented in the
Review of Maritime Transport 2008, but are restated here
for ease of reference. A number of elements that need
WREHVDWLV¿HGDUHOLVWHGHDFKRIWKHPDFFRPSDQLHGE\
VSHFL¿F GHWDLOHG UHTXLUHPHQWV DSSOLFDEOH WR$(2V WR
customs, or to both.87 These elements include:
(a)
Demonstrated compliance with customs
UHTXLUHPHQWV
(b)
A satisfactory system for management of
commercial records;
(c)
Financial viability;
(d)
Consultation, cooperation and communication;
(e)
Education, training and awareness;
(f)
Information exchange, access and
FRQ¿GHQWLDOLW\
(g)
Cargo security;
(h)
Conveyance security;
(i)
Premises security;
(j)
Personnel security;
(k)
Trading partner security;
(l)
Crisis management and incident recovery; and
137
been organizing the so-called “STAR” (Secure Trade in
the APEC Region) conferences since 2003, to discuss
issues of security for transport and travel. An action plan
has been adopted by APEC member States in the context
of STAR, recommending that companies, in accordance
with their own needs, comply with security measures,
DQGZLWKWKHLQWHUQDWLRQDOVWDQGDUGVDQGUHTXLUHPHQWV
laid down by the WCO, IMO, the International
Organization for Standardization (ISO) and so on.
Several individual APEC countries, mostly developed
ones, have already established their own business partner
programmes (AEOs and similar), in conformity with
the SAFE Framework.89 However, unlike the European
8QLRQIRULQVWDQFHZKLFKDOUHDG\LVVXHVFHUWL¿FDWHVIRU
LWV$(2VLWDSSHDUVWKDWQRVLPLODUFHUWL¿FDWLRQSURFHVV
is yet under way within the framework of APEC or any
other regional organization so far.
According to information provided by the WCO, as
of 30 September 2009, in addition to the 27 member
States of the European Union,90 11 additional countries
had operational AEO programmes,91 and in another 6
states, such programmes were soon to be launched.92
So far, 7 mutual recognition agreements (MRAs) of
AEO programmes have been concluded globally; 93
with another 12 being negotiated, and 11 studies or
consultations being under way. For two more countries,
AEO programmes were to become operational, and the
conclusion of relevant MRAs with the European Union
was scheduled for winter 2010.94
To assist countries, the WCO is developing a compendium
of existing AEO programmes and implementation
guidelines for AEO standards.95
In view of the global character of the SAFE Framework of
6WDQGDUGVWKHTXHVWLRQDULVHVZKHWKHUDOO:&2PHPEHU
customs administrations will be able to implement it
It is worth noting that both the national implementation in its entirety. There is a risk that developing countries
of the AEO system and mutual
lacking the infrastructure and the
recognition agreements are, in
administrative capacity might not
many cases, still at an initial Both the national implementation
EHDEOHWRPHHWDOOWKHUHTXLUHPHQWV
stage of their development, and of the AEO system and mutual
in respect of security measures, and
remain a challenge, particularly recognition agreements are, in
that their access to global markets
from the perspective of developing many cases, still at an initial stage
could be negatively affected as
of their development, and remain
economies. For instance, countries
a result. In this context, and as
a challenge, particularly from
DURXQG WKH 3DFL¿F 2FHDQ ± PDQ\ the perspective of developing
reported in previous editions of
of which are developing countries economies.
the Review of Maritime Transport,
± DUH JURXSHG XQGHU$VLD3DFL¿F
the WCO has launched a number
Economic Cooperation (APEC),88 a
of capacity-building programmes,
forum for discussing matters that concern the regional notably the Columbus Programme: Aid for SAFE trade.96
economy, cooperation, trade and investments. APEC has This programme is continuing to help the modernization
(m) Measurement, analyses and improvement.
138
of member customs administrations and to assist in the
implementation of the SAFE Framework of Standards,
and to prepare countries for the possible outcome of
the WTO negotiations on trade facilitation. Within
the Columbus Programme, a three-year Technical
Cooperation Agreement on Capacity-Building (2009–
2011), was signed by the Customs Administration of
Mongolia, the Dutch Tax and Customs Administration,
and the WCO, on 4 December 2008. The agreed
cooperation covers a number of seminars on a range
of topics. As part of the ongoing implementation of
its capacity-building strategy, the WCO also organizes
regional training workshops for the private sector,
which among other things, aim at strengthening the
links among customs officials from neighbouring
countries and ensuring more effective follow-up. To
date, 16 memorandums of understanding establishing
regional training centres have been concluded by the
WCO and the customs administrations of member
countries, mainly developing countries.97 Moreover, a
number of seminars on AEOs were recently organized in
various regions, including East Africa, Southern Africa
and Central America.98
(c)
Mutual recognition and coordination protocols
between exporting, transit and importing
administrations to eliminate unnecessary
duplication of controls in international supply
chains;
(d)
Standards to enable the development of a system
of mutual recognition for AEOs; and
(e)
A set of rules governing the exchange of
information between customs administrations,
including rules on data protection.100
7KHVLPSOL¿FDWLRQKDUPRQL]DWLRQDQGVWDQGDUGL]DWLRQ
of procedures and practices are indispensable for
achieving mutual recognition, and for avoiding
FRQÀLFWLQJ DQG UHGXQGDQW QDWLRQDO DSSURDFKHV LQ
relation to AEOs.
Attention should also be drawn to the sixtieth session
of the WCO Policy Commission, which was held
in Buenos Aires in December 2008. In the context
of discussions on the global financial crisis, the
Policy Commission emphasized the need to focus on
A new WCO report entitled “Customs in the twenty- trade facilitation in the current climate, taking care
first century: Enhancing growth and development not to introduce new barriers to trade or generate
additional delays. It also considered
through trade facilitation and border
it important that the work on
security”99 was issued in June 2008, “Networked Customs”,
AEOs and mutual recognition
emphasizing the importance of mutual including the creation of an
arrangements continue, and that as
recognition of both customs controls international “e-Customs”
far as possible, these arrangements
and AEO programmes. As part of a network, are considered
be implemented with broadly
new strategic direction for customs, critical for the 21st century
model
of
managing
end-to-end
similar standards worldwide.
“Networked Customs”, including
Another important factor was the
the creation of an international international supply chains.
QHHGWRDGDSWWKHFRVWVDQGEHQH¿WV
“e-Customs” network, are considered
RIVXFKDUUDQJHPHQWVWRUHÀHFWWKH
FULWLFDO IRU WKH WZHQW\¿UVW century
model of managing end-to-end international supply current climate, and also to recognize the importance
chains. This relies on the secure, real-time exchange of of budget security, in particular for developing
information between business and customs, and between countries.101
customs administrations in a supply chain. According to
WKHUHSRUWDFKLHYLQJWKLVZLOOUHTXLUH
(b)
European Union
D ,QWHUQDWLRQDOO\VWDQGDUGL]HGGDWDUHTXLUHPHQWVIRU
export, transit and import, and the implementation
RI WKH :&2 8QLTXH &RQVLJQPHQW 5HIHUHQFH
number as part of a cross-border data reference
model;
(b)
Interconnected systems and aligned customs
databases to enable the electronic exchange of
data between customs administrations as early as
possible in the international movement of goods;
As reported in the Review of Maritime Transport
2008, at EU level, regulation (EC) No. 1875/2006102
was adopted in December 2006 to introduce a number
of measures to increase the security of shipments
into and out of the EU, and to implement regulation
(EC) No. 648/2005, which had first introduced
the AEO concept into the Community Customs
Code. Regulation (EC) No. 1875/2006 includes
detailed rules regarding implementation of the AEO
programme, and envisages that reliable economic
139
RSHUDWRUVWKDWPHHWWKHFRQGLWLRQVDQGFULWHULDUHTXLUHG Additionally, as laid down in regulation (EC)
for recognition of AEO status may be issued with AEO 312/2009, 108 DQG LQ RUGHU WR HVWDEOLVK D XQLTXH
FHUWL¿FDWHVDVRI-DQXDU\103 It should be noted V\VWHPRIUHJLVWUDWLRQDQGLGHQWL¿FDWLRQIRUHFRQRPLF
WKDWDQ³HFRQRPLFRSHUDWRU´LVGH¿QHGDV³DSHUVRQZKR operators in the European Union, any economic
in the course of his business, is involved in activities operator established in the European Union, as from
covered by customs legislation”.104 This would cover, for -XO\LVUHTXLUHGWRKDYHDYDOLGUHJLVWUDWLRQ
instance, a manufacturer producing goods for export, but DQGLGHQWL¿FDWLRQ(25,QXPEHUXVHGE\RQHRIWKH
not a supplier of raw materials already in free circulation, member States.109 Economic operators established
or a transport operator that moves
outside the EU will have to be
only free-circulation goods within
assigned an EORI number if they
the customs territory of the European The EU is in the process of
lodge a customs declaration, an entry
105
negotiating
agreements
on
Community.
or an exit summary declaration, or
mutual recognition of the
a summary declaration. Many
Companies seeking AEO status must business partner programmes
member States will use their current
comply with certain criteria, including (AEO and similar) with some
LGHQWL¿FDWLRQ V\VWHPV 7KXV RQO\
neighbouring
states
and
with
an automated trade and transport
new operators should register,
its major trading partners.
data management system, proven
and the application should be sent
ILQDQFLDO VROYHQF\ DQG DGHTXDWH
to the relevant authorities of the
safety/security standards (including physical security, member States in which the economic operator is
access control, screening of personnel etc.) There are established.110
WKUHHW\SHVRIFHUWL¿FDWHWKDWPD\EHDSSOLHGIRU
The EU is in the process of negotiating agreements on
(a) Customs Simplifications (AEO-C) – AEOs mutual recognition of the business partner programmes
EHQH¿WIURPFHUWDLQVLPSOL¿FDWLRQVSURYLGHGIRU (AEO and similar) with some neighbouring states
under the customs rules;
and with its major trading partners,111 including
in particular the United States. To this end, in
(b) Security and Safety (AEO-S) ±$(2V EHQH¿W 2007, the European Union and the United States
from facilitation of customs controls relating to started negotiations towards mutual recognition of
security and safety at the entry or exit of the goods the United States’ C-TPAT and the European Union’s
to the customs territory of the Community;
AEO supply-chain programmes. The agreement
would cover about 40 per cent of global trade,
(c) Customs 6LPSOL¿FDWLRQV6HFXULW\ DQG 6DIHW\ and may set a precedent that could help to provide
jointly (AEO-F) ±$(2VZLOOEHHQWLWOHGWREHQH¿W both improved supply-chain security and global
from both.
trade facilitation. 112 While there are significant
differences between the two customs–business
A database of economic operators who hold a valid partnership schemes, in March 2008, United
$(2 FHUWL¿FDWH RI DQ\ W\SH DQG ZKR KDYH JLYHQ WKHLU States Customs and Border Protection (CBP) and
agreement to the publication of their details, has recently the European Commission adopted the “Joint
become available on the European
roadmap towards mutual
Commission website.106 Also available
recognition of trade
on the website is a list of competent A database of economic operators
partnership programmes.”113
customs authorities for the issuing ZKRKROGDYDOLG$(2FHUWL¿FDWH
The roadmap focuses on
of
any
type,
and
who
have
given
of AEO certificates. According to
six areas in which to achieve
EU statistics, as of 14 October 2009, their agreement to the publication
mutual recognition: political,
a total of 3,433 applications had of their details, has recently
administrative, legal, policy,
been submitted, and a total of 1,643 become available on the European technical/operational, and
certificates had been issued; the Commission
evaluation. It was envisaged
website.
number of applications processed
that the following tasks
between 15 October 2008 and 15
would be accomplished by
October 2009 was 1,972. The reported
the United States and the
EUHDNGRZQE\FHUWL¿FDWHW\SHZDV$(2)SHUFHQW European Union, in an effort to achieve mutual
AEO-C 19 per cent; and AEO-S 3 per cent.107
recognition by 2009:
140
(a)
Establishing guidelines regarding the exchange
of information, including validation/audit results
and legalities associated with the disclosure of
membership details;
(b)
Performing joint verifications to determine
remaining gaps between AEO/C-TPAT;
(c)
Exploring and testing an export component for
C-TPAT;
(d)
Exchanging best practices through joint visits
and conferences;
(e)
Continuing dialogue on legal and policy
developments under the respective
administrations;
(f)
Endorsing and signing a mutual recognition
arrangement; and
(g)
Evaluating mutual recognition benefits for
AEO/C-TPAT members.114
ICC discussion paper expresses great concerns about
the potential impact of these programmes on small and
medium-sized enterprises (SMEs), and emphasizes the
need to assure the suitability of these programmes for
all supply-chain entities, highlighting that “the costs of
implementation and compliance may be such that many
SMEs will be unable to participate, which could impact
their competitiveness”. Certainly, this applies particularly
to SMEs from developing countries. Another concern
expressed is that both the AEO programme and C-TPAT
ODFN VXEVWDQWLDO EHQH¿WV IRU SDUWLFLSDWLQJ FRPSDQLHV
A lower risk score, resulting in fewer controls and
inspections, as provided under both programmes, was
QRWFRQVLGHUHGDVXI¿FLHQWEHQH¿WFRUUHVSRQGLQJWRWKH
high level of security that companies had demonstrated
during the application/validation procedure. More
generally, the ICC emphasizes that harmonization,
VWDQGDUGL]DWLRQ DQG VLPSOL¿FDWLRQ RI SURFHGXUHV DQG
practices are indispensable for achieving mutual
recognition, stating that “failure to achieve reasonable
uniformity would also create counterproductive, costly
DQG LQHI¿FLHQW HIIHFWV E\ VXEMHFWLQJ$(2 WUDGHUV WR
PDQ\ GLIIHUHQW DQG FRQÀLFWLQJ RU UHGXQGDQW QDWLRQDO
approaches.”
In order to gather feedback from the business
community and incorporate it within the roadmap as 7KH,&&SROLF\SDSHUDOVRLGHQWL¿HVDQXPEHURIVSHFL¿F
appropriate, an abridged external partner version of issues, which may impede the attainment of Mutual
the roadmap was made available in January 2009,115 Recognition between the European Union and the United
providing a short description, and a summary of status States, and which should be addressed and adjusted
and accomplishments for each of
over a reasonable period of time. In
the tasks in three areas, namely
this context, structural asymmetries
operational/technical, legal, and The International Chamber
between the European Union’s AEO
of
Commerce
(ICC),
one
evaluation.
programme and C-TPAT are noted,
of the key international
as is the need for interoperability
The International Chamber of representatives of the world
in terms of software and electronic
Commerce (ICC), one of the key business community,…
messaging between the United
international representatives of raises a number of concerns
States and the European Union and
regarding mutual recognition
the world business community,
among EU members coupled with
of the United States and
has issued a discussion paper
single window facilitation so that
European Union programmes,
that raises a number of concerns and provides a number of
electronic data elements only need
regarding mutual recognition of the recommendations.
to be submitted once. Emphasis is
United States and European Union
also placed on the need to adhere to
programmes, and provides a number
WCO guidelines in order to “ensure
of recommendations.116 Among other things, the ICC WKHFRQ¿GHQWLDOLW\RIFRPPHUFLDODQGVHFXULW\VHQVLWLYH
discussion paper expresses concern about the absence of a information, and that information provided be used
meaningful dialogue between the designers of the Mutual solely for the purposes for which it was provided”.117
Recognition programme and the business community,
DQGQRWHVWKDWWKHEHQH¿WVIRUFRPSDQLHVSDUWLFLSDWLQJLQ $GYDQFHHOHFWURQLFFDUJRQRWL¿FDWLRQUHTXLUHPHQWV
the European Union’s AEO programme and the United
6WDWHV¶&73$7KDYHQRW\HWEHHQDFFXUDWHO\TXDQWL¿HG Another measure stipulated in regulation (EC) No.
and tracked, thus making any assumptions regarding LV WKH UHTXLUHPHQW RI PDQGDWRU\ DGYDQFH
WKHFRVWEHQH¿WLPSDFWRQWKHLQGXVWU\VSHFXODWLYH7KH FXVWRPVQRWL¿FDWLRQUHODWLQJWRJRRGVEURXJKWLQWRRU
141
out of the customs territory of the European Union. and address; (g) the importer of record number; (h) the
Also known as the “advance cargo declaration scheme”, consignee number(s); (i) the country of origin; and (j)
the system, which in parts corresponds to the United the commodity’s Harmonized Tariff Schedule of the
States “24-hour rule”118 adopted in October 2002 with United States number. Moreover, within 48 hours of the
the aim of enabling United States customs authorities vessel’s departure for the United States, carriers need to
to evaluate the terrorist risk of cargo containers loaded provide: (a) the vessel stowage plan; and (b) container
DWIRUHLJQSRUWVZRXOGUHTXLUHHFRQRPLFRSHUDWRUVWR status messages. This interim rule was envisaged to
send manifest information to national authorities 24 come into effect on 26 January 2009, but its compliance
KRXUV SULRU WR ORDGLQJ 7KLV UHTXLUHPHQW ZDV VHW WR date was postponed for 12 months, taking into account
become mandatory on 1 July 2009, but in April 2009, the GLI¿FXOWLHVWKDWLPSRUWHUVPD\IDFHLQXSJUDGLQJWKHLU
European Commission’s regulation (EC) No. 273/2009 systems.122
was adopted, introducing a temporary derogation for 18
PRQWKVXQWLO'HFHPEHUIURPWKLVUHTXLUHPHQW It appears that China has also informally relaxed the
to provide advance electronic information for security LPSOHPHQWDWLRQRILWVKRXUDGYDQFHFDUJRQRWL¿FDWLRQ
and safety purposes. The preamble to the regulation UHTXLUHPHQWVZKLFKZHUHVXSSRVHGWRFRPHLQWRHIIHFW
states that: “Due to the complexity of the processes on 1 January 2009. According to press reports, an
for introducing of electronic entry and exit summary ‘informal’ grace period of three to six months without
declarations, unanticipated delays have occurred in penalties was offered, which was also designed to
the implementation process so that not all economic allow the testing of the systems for reliable eventual
operators will be in a position to use information compliance.123
technology and computer networks for these purposes
by 1 July 2009. Though information technology and (c)
International Maritime Organization
computer networks facilitate international trade, they
DOVRUHTXLUHLQYHVWPHQWVLQDXWRPDWLFGDWDWUDQVPLVVLRQ ,02KDVEHHQDFWLYHO\LQYROYHGLQWKH¿HOGRIPDULWLPH
systems which may cause problems for economic VHFXULW\DVDNH\FRPSRQHQWLQWKHJOREDO¿JKWDJDLQVW
operators in the short term. It is therefore appropriate terrorism, and in maintaining the security of maritime
to take such situations into account by providing that transport and the global supply chain in general.
during a transitional period economic
The Maritime Safety Committee
operators will be able, but will not be
06&KHOGLWVHLJKW\¿IWKVHVVLRQ
obliged, to lodge electronic entry and Additional advance cargo
exit summary declarations in order QRWL¿FDWLRQUHTXLUHPHQWVZHUH from 26 November to 5 December
2008. Following the outcome of
to allow them to adjust their systems also established in the United
119
States,
in
late
2008,
when
the fifth special meeting of the
WR WKH QHZ OHJDO UHTXLUHPHQWV´
an
interim
Importer
Security
Counter-Terrorism Committee
U n d e r s t a n d a b l y, d u e t o t h e
held in Nairobi from 29 to 31
complexity of these processes, the Filing Rule was issued.
October 2007,124 and in the context
level of computer technology and
QHWZRUNVUHTXLUHGDVZHOODVWKHFRVWVLQYROYHGPDQ\ of measures to further enhance port facility security
exporters in developing countries face challenges in measures, several needs assessments missions on
maritime security were carried out under the IMO
PHHWLQJWKHVHUHTXLUHPHQWV120
Integrated Technical Cooperation Programme. In
It should be noted that additional advance cargo addition, several on-site visits were conducted by
QRWL¿FDWLRQ UHTXLUHPHQWV ZHUH DOVR HVWDEOLVKHG LQ WKH the Counter-Terrorism Committee of the United
United States in late 2008, when an interim Importer Nations Security Council, pursuant to Security
Security Filing rule121 was issued, known as the “10 + 2” Council resolution 1373 (2001). It was noted that
UXOH7KHQHZLQWHULPUXOHUHTXLUHVLPSRUWHUVWRQRWLI\ WKHVH KDG UHYHDOHG WKDW LQ D VLJQL¿FDQW QXPEHU RI
United States Customs and Border Protection, at least FDVHVWKHUHTXLUHGQDWLRQDOOHJLVODWLRQLPSOHPHQWLQJ
24 hours before cargo is loaded onto a vessel bound for the provisions of the International Convention for the
the United States, of the following information: (a) the Safety of Life at Sea (SOLAS Convention) chapter
name and address of the manufacturer or supplier; (b) XI-2 and of the International Ship and Port Facility
the name and address of the seller; (c) the name and Security Code (the ISPS Code) were either absent
address of the buyer; (d) the “ship to” name and address; RU LQDGHTXDWH RU ZHUH EDVHG RQ RU GHSHQGHQW RQ
HWKHFRQWDLQHUVWXI¿QJORFDWLRQIWKHVWXIIHU¶VQDPH national laws which, in some cases, had been enacted
142
at the beginning of the 1900s. Thus, with a view to
assisting SOLAS Contracting Governments to improve
the situation, the development of model legislation
would be very useful. Under SOLAS article III(c),
SOLAS Contracting Governments have an obligation to
communicate to and deposit with the Secretary-General
of IMO, inter alia, the text of laws, decrees, orders and
regulations which have been promulgated on various
matters within the scope of SOLAS. Therefore, they
were urged to do so, in order to enable the development
of model legislation.125
clear that for the time being there would be only carriage
UHTXLUHPHQW HQIRUFHPHQW IRU VKLSV XQWLO D UHDVRQDEOH
level of operational capability had been achieved, was
noted with appreciation.129
While it was clear that the system would not be fully
operational and that there was a need for a pragmatic
approach, the MSC emphasized the importance of
FRPSOLDQFHZLWKWKHUHTXLUHPHQWVRIUHJXODWLRQ9
DQGRIHQVXULQJWKDWWKHQHFHVVDU\HTXLSPHQWHVSHFLDOO\
for ships constructed before 31 December 2008, was
LQVWDOOHGDQGDEOHWRPHHWWKHUHTXLUHPHQWV7KH06&
agreed that the date of compliance of ships with the
UHTXLUHPHQWV WR WUDQVPLW /5,7 LQIRUPDWLRQ ZDV QRW
subject to extension, and that regulation V/19-1 did not
include any provisions on the basis of which extensions
may be granted.
The MSC, having received and approved, in general,
the report of the Ad Hoc Working Group on Maritime
Security126 (MSC 85/WP.6), also approved MSC.1/
Circ.1283 entitled “Guidelines on security aspects of
the operation of vessels which do not fall within the
scope of SOLAS chapter XI-2 and the ISPS Code”. The
guidelines are recommendatory only, and they are not Having considered the various issues relating to LRIT,
intended to form the basis for a mandatory instrument. WKHHLJKW\¿IWKVHVVLRQRIWKH06&HVWDEOLVKHGDZRUNLQJ
group on LRIT-related matters,
They should, therefore, in no way be
adopted its terms of reference, and
interpreted as the basis for regulation
During
2008,
work
continued
on
provided detailed instructions for
of non-SOLAS vessels and related
the development of the ISO/PAS work to be conducted, including
facilities.
28000 series standards, whose
the future development of a draft
aim is to facilitate and improve
7KH06&DWLWVHLJKW\¿IWKVHVVLRQ
resolution on the appointment of
FRQWUROVRQÀRZVRIWUDQVSRUW
also considered matters relating to
the International Mobile Satellite
WR¿JKWVPXJJOLQJWRGHDO
the implementation of the so-called with the threats of piracy and
Organization (IMSO) 130 as LRIT
coordinator within the framework of
LRIT system. As was reported in the terrorism, and to enable secure
regulation V/19-1.14.131 At its eightyReview of Maritime Transport 2008, management of supply chains.
sixth session held from 27 May to
SOLAS regulation V/19-1 on a Long5 June 2009, after considering the
5DQJH ,GHQWL¿FDWLRQ DQG 7UDFNLQJ
(LRIT) system, which had been adopted in 2006, entered report of the LRIT working group, the MSC adopted
into force on 1 January 2008. The regulation applies the documents entitled “Guidance on the survey and
to ships of over 500 gross tons constructed on or after FHUWL¿FDWLRQRIFRPSOLDQFHRIVKLSVZLWKWKHUHTXLUHPHQW
31 December 2008, with a phased-in implementation to transmit LRIT information”;132 “Guidance to search
schedule for ships constructed before 31 December 2008. DQG UHVFXH VHUYLFHV LQ UHODWLRQ WR UHTXHVWLQJ DQG
The LRIT system was intended to be operational from 31 receiving LRIT information”;133 and the “Circular on
December 2008,127 but delays in the establishment of a information communicated to the IMO in relation to the
number of national data centres were reported by the ad establishment of LRIT data centres and their position in
hoc LRIT working group. Therefore, the establishment relation to developmental testing in the production of
of the entire LRIT system would continue after 31 the LRIT system.”134
December 2008, and it was possible that it could take
several months during 2009 before it could be completed. (d)
International Organization for Standardization
,QGXVWU\UHSUHVHQWDWLYHVQRWHGWKDWVRPHÀDJVWDWHVKDG
EHHQGLOLJHQWLQFRPSO\LQJZLWKWKHUHTXLUHPHQWVRIWKH The ISO/PAS 28000 series of international standards
/5,7V\VWHP:LWKUHJDUGWRHTXLSPHQWFRQIRUPDQFH VSHFL¿HV WKH UHTXLUHPHQWV IRU VHFXULW\ PDQDJHPHQW
WHVWVLGHQWLFDOHTXLSPHQWKDGZRUNHGRQVRPHVKLSVEXW systems to ensure security in the supply chain.
not on others. Overall, there was a 25 per cent failure rate. These standards are intended for application by
Secondly, there was concern that the EU Contracting organizations involved in manufacturing, service,
Governments would not be ready until the middle of storage or transportation, by all modes of transport
2009.128 However, a letter from the United States, making and at any stage of the production or supply process.
During 2008, work continued on the development of
the ISO/PAS 28000 series of standards, whose aim is to
IDFLOLWDWHDQGLPSURYHFRQWUROVRQÀRZVRIWUDQVSRUWWR
¿JKWVPXJJOLQJWRGHDOZLWKWKHWKUHDWVRISLUDF\DQG
terrorism, and to enable secure management of supply
chains.
The Review of Maritime Transport 2008 provided a short
GHVFULSWLRQRQHDFKRIWKH¿YHODWHVWSXEOLVKHGPDULWLPH
and supply-chain standards, namely ISO 28000, ISO
28001, ISO 28003, ISO 28004 and ISO 20858, and on
one standard under development – ISO 28005.
Work has continued on ISO 28005, which in order
to expedite development, has been divided into two
parts, namely ISO 28005-1: Electronic Port Clearance
(EPC) – Single Window Concept; and ISO 28005-2:
Electronic Port Clearance (EPC) – Technology and Data
Dictionary.
In addition, work is in progress on amendment of ISO
28004, with the aim of:
D SURYLGLQJVSHFL¿FVXSSOHPHQWDOJXLGDQFHWRVPDOO
and medium-sized ports that are implementing
ISO 28000, so that they develop processes that
FRPSO\ERWKZLWKLWVUHTXLUHPHQWVDQGZLWKWKH
general guidance contained in the existing ISO
28004 standard;
E SURYLGLQJ VSHFL¿F VXSSOHPHQWDO JXLGDQFH IRU
small and medium-sized businesses (other than
marine ports) that are implementing ISO 28000,
so that they develop processes that comply
ERWKZLWKLWVUHTXLUHPHQWVDQGZLWKWKHJHQHUDO
guidance contained in the existing ISO 28004
standard;
F SURYLGLQJ VSHFL¿F VXSSOHPHQWDO JXLGDQFH IRU
organizations seeking to incorporate security
UHTXLUHPHQWV FRQWDLQHG LQ ,62 IRU
Authorized Economic Operators) into their
implementation of ISO 28000. The security
best practices contained in ISO 28001 were
carefully developed in liaison with WCO, and
were designed to be incorporated into existing
management systems.
Another standard under development is ISO/AWI 28002:
6SHFL¿FDWLRQIRU6HFXULW\0DQDJHPHQWIRUWKH6XSSO\
Chain – Resilience in Security in the Supply Chain. This
standard is aimed at ensuring that the suppliers and the
143
extended supply chain have planned steps to prevent
and mitigate the threats and hazards to which they are
exposed.
ISO, through technical assistance and training activities
derived from the ISO Action Plan for Developing
Countries, helps those countries to participate in
international standardization activities. It responds to a
ZLGHYDULHW\RIQHHGVDQGUHTXHVWVUHFHLYHGIURP,62
members in developing countries and their stakeholders,
by organizing seminars, workshops, training courses,
e-learning, sponsorships etc.135
(e)
United Nations
It should also be noted that pursuant to General Assembly
resolutions 61/222 and 62/215, the ninth meeting of the
United Nations Open-ended Informal Consultative
Process on Oceans and the Law of the Sea, held in New
York in June 2008, focused its discussions on the area
of maritime security and safety.
The meeting participants agreed that maritime security
and safety were essential to the role of oceans and seas
in promoting the economic, social and environmental
pillars of sustainable development, as provided in
chapter 17 of agenda 21, adopted by the United Nations
Conference on Environment and Development, through,
inter alia, international trade, economic development,
poverty alleviation and environmental protection. They
further agreed that the global nature of the threats and
challenges to the security and safety of oceans could only
be tackled effectively through international cooperation
and coordination.
A number of agreed consensual elements from the
meeting were suggested to the United Nations General
Assembly for consideration under the agenda item
“Oceans and the law of the sea”. With reference to
maritime security, it was proposed that the General
Assembly:
(a)
“recall that all actions taken to combat threats
to maritime security must be in accordance with
international law, including the Convention
and other relevant international legal instruments
while respecting maritime jurisdiction, and
reaffirm that the sovereignty and territorial
integrity and political independence of states, as
well as the principles of non-use or threat of use
RIIRUFHVRYHUHLJQHTXDOLW\RIVWDWHVDQGIUHHGRP
of navigation, should be respected”; and
144
(b) “recognize the crucial role of international (a)
Ship recycling
cooperation at the global, regional, subregional
and bilateral level in combating threats to maritime The International Convention for the Safe and
security in accordance with international law, Environmentally Sound Recycling of Ships was adopted,
including through enhanced sharing of information under the auspices of IMO, at a diplomatic conference
among states relevant to the detection, prevention held in Hong Kong, China, from 11 to 15 May 2009,
which was attended by delegates
and suppression of such
138
threats, and the prosecution The International Convention for from 63 countries.
of offenders with due regard the Safe and Environmentally
As explained in previous editions of
to national legislation, and the Sound Recycling of Ships was
the Review of Maritime Transport, the
need for sustained capacity- adopted, under the auspices of
development of a convention on ship
building to support such IMO.
recycling had been in progress for
objectives.”136
several years at IMO, in cooperation
with the International Labour Organization (ILO) and the
3.
Legal instruments and other developments
relevant bodies of the Basel Convention. The convention
relating to the environment
on ship recycling is designed to provide globally
IMO continues to implement its ambitious action applicable ship recycling regulations for international
plan to address emissions of greenhouse gases from shipping and for recycling activities. It aims to ensure
international shipping, and to establish a regime that ships, when being recycled after reaching the end
regulating the issue at the global level, in order to slow of their operational lives, do not pose any unnecessary
down climate change. IMO’s Marine
risk to human health and safety or to
Environment Protection Committee
the environment.
0(3&DWLWV¿IW\HLJKWKVHVVLRQ IMO continues to implement
adopted the revised MARPOL 137 its ambitious action plan
The new Convention provides
annex VI regulations and the NOx to address emissions of
regulations for the design,
greenhouse
gases
from
Technical Code 2008, aimed at
construction, operation and
reducing air pollution from ships. It international shipping, and to
preparation of ships so as to facilitate
establish a regime regulating
agreed to establish a working group the issue at the global level,
safe and environmentally sound
on greenhouse gas (GHG) emissions in order to slow down climate
recycling without compromising
from ships, which was instructed change.
WKHVDIHW\DQGRSHUDWLRQDOHI¿FLHQF\
to work on a whole package of
of ships; for the operation of ship
technical and operational measures.
recycling facilities in a safe and
7KH 0(3& DOVR ¿QDOL]HG WKH WH[W RI WKH &RQYHQWLRQ environmentally sound manner; and for the establishment
for the Safe and Environmentally Sound Recycling of of an appropriate enforcement mechanism for ship
Ships, which was adopted at a diplomatic conference recycling, incorporating certification and reporting
on 11 May 2009, and it pursued its work related to the UHTXLUHPHQWV
Ballast Water Management Convention. In addition, a
draft protocol to the 1996 International Convention on 6KLSVWREHVHQWIRUUHF\FOLQJZLOOEHUHTXLUHGWRFDUU\
Liability and Compensation for Damage in Connection an inventory of hazardous materials, which will be
with the Carriage of Hazardous and Noxious Substances VSHFL¿F WR HDFK VKLS$Q DSSHQGL[ WR WKH &RQYHQWLRQ
by Sea was adopted by the IMO Legal Committee will provide a list of hazardous materials, the installation
GXULQJLWVQLQHW\¿IWKVHVVLRQDQGWKH,02&RXQFLODW or use of which is prohibited or restricted in shipyards,
its 102nd session approved the holding of a diplomatic ship repair yards, and ships of parties to the Convention.
conference in April 2010, at which the draft protocol 6KLSVZLOOEHUHTXLUHGWRXQGHUJRDQLQLWLDOVXUYH\WR
will be considered for adoption.
verify the inventory of hazardous materials, additional
VXUYH\VGXULQJWKHOLIHRIWKHVKLSDQGD¿QDOVXUYH\
In recognition of the focus that climate change is SULRUWRUHF\FOLQJ6KLSUHF\FOLQJ\DUGVZLOOEHUHTXLUHG
receiving at IMO, the organization has adopted “Climate to provide a “ship recycling plan” to specify the manner
change – a challenge for IMO too” as the theme for the in which each ship will be recycled, depending on its
2009 World Maritime Day, which was celebrated on 24 SDUWLFXODUVDQGLWVLQYHQWRU\3DUWLHVZLOOEHUHTXLUHGWR
September 2009.
take effective measures to ensure that ship recycling
facilities under their jurisdiction comply with the
Convention. A series of guidelines are being developed
to assist in the Convention’s implementation.139
145
A revised MARPOL annex VI and the NOx Technical
Code 2008 were adopted unanimously by the MEPC at its
¿IW\HLJKWKVHVVLRQLQ2FWREHUUHVROXWLRQV0(3&
176(58) and MEPC 177(58)).144 Both legal instruments
The Convention shall be open for signature from 1 will come into force on 1 July 2010, rather than on 1 March
September 2009 until 31 August 2010. Thereafter, it 2010 as had previously been indicated. This is to allow
shall remain open for accession by any state. It will enter VWDWHVVXI¿FLHQWWLPHWRXSGDWHH[LVWLQJJXLGHOLQHVDQG
into force 24 months after the date
GHYHORSQHZJXLGHOLQHVDVUHTXLUHGE\
on which 15 states – representing 40
the revision. The MEPC also agreed
per cent of world merchant shipping The Convention shall be open
WKDW D GH¿QLWLRQ RI VXOSKXU ZDV QRW
by gross tonnage – have either for signature from 1 September
needed in the revised annex VI, as this
2009
until
31
August
2010.
signed it without reservation as to
had been described in the test method
UDWL¿FDWLRQDFFHSWDQFHRUDSSURYDO
in ISO 8754: 2003. As regards NOx
RUKDYHGHSRVLWHGLQVWUXPHQWVRIUDWL¿FDWLRQDFFHSWDQFH HPLVVLRQVIURPVKLSVWKH0(3&DJUHHGWKDWWKHGH¿QLWLRQ
approval or accession with the IMO Secretary-General. of marine diesel engine in regulation 2(14) of MARPOL’s
Furthermore, the combined maximum annual ship annex VI and in paragraph 1.3.10 of the NOx Technical
recycling volume of those states must, during the Code should not include engines that under normal service
preceding 10 years, constitute not less than 3 per cent of conditions operate on gas fuel only.145
their combined merchant shipping tonnage.140
In addition, the fifty-eighth session of the MEPC
QRWHG ZLWK DSSUHFLDWLRQ WKH PDLQ ¿QGLQJV RI SKDVH
(b)
Air pollution from ships
1 of an updated 2000 IMO study on GHG emissions
While maritime transport represents the most from ships,146 covering a CO emission inventory from
2
fuel-efficient way to carry cargo, international international shipping and future emission scenarios. In a
shipping is also heavily dependent on fossil fuels. second phase, the study covers GHG emissions other than
The combustion of these fossil
CO2 and relevant substances emitted
IXHOVFUHDWHVVLJQL¿FDQWHPLVVLRQV In a second phase, the study
from ships engaged in international
such as nitrogen oxides (NOx) and covers GHG emissions
transport, in accordance with the
sulphuric oxides (SOx) which have other than CO and relevant
methodology adopted by the United
2
been linked to a variety of adverse substances emitted from
Nations Framework Convention
public health outcomes,141 and also ships engaged in international
on Climate Change, as well as
carbon dioxide (CO2) which causes transport.
consideration of future reduction
global warming. However, it should
potentials by technical, operational
be noted that bunker fuel emissions
and market-based measures. The
from international shipping are not covered by the ¿QDO UHSRUW147 covering both phases of the study, and
international regulatory framework as set out in the an executive summary 148 were made available for
Kyoto Protocol.142
FRQVLGHUDWLRQE\WKH¿IW\QLQWKVHVVLRQRIWKH0(3&LQ
July 2009. The main conclusions of the report are set
MARPOL 1973/1978, the main international convention out in the executive summary, as follows:
dealing with pollution from ships and covering different
types of pollution (by oil, chemicals, pollutants in
(a) Shipping is estimated to have emitted 1,046
packaged form, sewage and garbage) did not cover air
million tons of CO2 in 2007, which corresponds
pollution until 1997, when the new annex VI entitled
to 3.3 per cent of the global emissions during
“Regulations for the prevention of air pollution from
2007. International shipping is estimated to have
ships” was adopted at a special conference. MARPOL’s
emitted 870 million tons of CO2 in 2007, or about
annex VI came into force in May 2005, and as at 2
2.7 per cent of the global emissions.
October 2009 it had been ratified by 56 countries,
representing approximately 83.46 per cent of the gross
(b) Exhaust gases are the primary source of emissions
WRQQDJHRIWKHZRUOG¶VPHUFKDQWÀHHW143 Annex VI deals
from ships. Carbon dioxide is the most important
with SOx and NOx emissions and particulate matter, but
*+*HPLWWHGE\VKLSV%RWKLQWHUPVRITXDQWLW\
it does not cover CO2 emissions, which are subject to
and of global warming potential, other GHG
separate discussions within IMO.
emissions from ships are less important.
146
(c)
(d)
(e)
(f)
(g)
Mid-range emissions scenarios show that, by
2050, in the absence of policies, ship emissions
may grow by 150 to 250 per cent (compared to
the emissions in 2007) as a result of the growth
in shipping.
Significant potential has been identified for
the reduction of greenhouse gases through
technical and operational measures. Together,
if implemented, these measures could increase
HI¿FLHQF\DQGUHGXFHWKHHPLVVLRQVUDWHE\WR
75 per cent below current levels. Many of these
measures appear to be cost-effective, although
non-financial barriers may discourage their
implementation, as discussed in chapter 5.
as the long-lasting effect of CO2 will overwhelm
any shorter-term cooling effects.
(h)
If the climate is to be stabilized at no more than a
2°C warming over pre-industrial levels by 2100
and emissions from shipping continue as projected
in the scenarios that are given in this report, then
they would constitute between 12 and 18 per cent
of the global total CO2 emissions in 2050 that
ZRXOG EH UHTXLUHG WR DFKLHYH VWDELOL]DWLRQ E\
2100) with a 50 per cent probability of success.
,WVKRXOGDOVREHQRWHGWKDWWKH0(3&DWLWV¿IW\HLJKWK
session agreed to re-establish the Working Group
on GHG Emissions from Ships, to work on a whole
package of technical and operational measures , aimed
A number of policies to reduce GHG emissions at reducing GHG emissions from international shipping.
from ships are conceivable. This report analyses These reductions would be achieved, for new ships
options that are relevant to the current IMO through improved design and propulsion technologies,
and for all ships, both new and
GHEDWH7KHUHSRUW¿QGVWKDW
existing, mainly through improved
market-based instruments
operational practices. The package
are cost-effective policy A number of policies to reduce
GHG
emissions
from
ships
are
of measures, focusing on energy
instruments with a high
HI¿FLHQF\ZDV¿QDOL]HGDWWKH¿IW\
environmental effectiveness. conceivable.
ninth session of the MEPC in July
These instruments capture
the largest amount of emissions under the scope, 2009 and was intended to be used for trial purposes only,
allow both technical and operational measures until the sixtieth session of MEPC in March 2010, with a
in the shipping sector to be used, and can offset YLHZWRIXUWKHUUH¿QHPHQWDQGLPSURYHPHQWWDNLQJDOVR
emissions in other sectors. A mandatory limit into account the relevant outcomes of the United Nations
RQWKH(QHUJ\(I¿FLHQF\'HVLJQ,QGH[IRUQHZ Climate Change Conference to be held in Copenhagen
ships is a cost-effective solution that can provide in December 2009.149 The measures include:
DQLQFHQWLYHWRLPSURYHWKHGHVLJQHI¿FLHQF\RI
(a) Interim Guidelines on the method of calculation
new ships. However, its environmental effect is
RIWKH(QHUJ\(I¿FLHQF\'HVLJQ,QGH[
limited because it only applies to new ships, and
because it only incentivizes design improvements
E ,QWHULP*XLGHOLQHVIRUYROXQWDU\YHUL¿FDWLRQRI
and not improvements in operations.
WKH(QHUJ\(I¿FLHQF\'HVLJQ,QGH[
Shipping has been shown, in general, to be
(c) Guidance for the development of a ship energy
an energy-efficient means of transportation
HI¿FLHQF\PDQDJHPHQWSODQ6((03
compared to other modes. However, not all forms
RIVKLSSLQJDUHPRUHHI¿FLHQWWKDQDOORWKHUIRUPV
(d) Guidelines for voluntary use of the Energy
of transport.
(I¿FLHQF\2SHUDWLRQDO,QGLFDWRU 150
The emissions of CO2 from shipping lead to
positive “radiative forcing” (a metric of climate However, MEPC recognized that in view of growth
change) and to long-lasting global warming. expectations of the world trade technical and operational
In the shorter term, the global mean radiative PHDVXUHVDORQHZRXOGQRWEHVXI¿FLHQWWRVDWLVIDFWRULO\
forcing from shipping is negative and implies reduce GHG emissions from international shipping.
cooling; however, regional temperature responses Therefore, it was considered necessary to also have in
and other manifestations of climate change may place marked-based reduction mechanisms that could
nevertheless occur. In the longer term, emissions serve two main purposes: the offsetting of growing
from shipping will result in a warming response, ship emissions in other sectors, and the provision of
incentives for the maritime industry to invest in more
IXHOHI¿FLHQWVKLSVDQGWRRSHUDWHVKLSVLQDPRUHHQHUJ\
HI¿FLHQWZD\
147
by Sea (HNS Convention). The draft protocol is
designed to address practical problems that have
prevented many states from ratifying the original
Convention. The Convention seeks to establish a twoIt was also considered that proposed market-based tier system for compensation to be paid in the event of
mechanisms, such as a global contribution scheme (levy) pollution incidents involving hazardous and noxious
substances, such as chemicals. While
and a global emission trading scheme
such a system of compensation
for ships, could generate considerable
has been successfully in operation
funds, which could be used for The IMO Legal Committee,
for many years in respect of oil
different climate-related purposes, during its 95th session held
from
30
March-to
3
April
2009,
pollution from tankers, the HNS
such as mitigation and adaptation
approved
a
draft
protocol
to
the
Convention has not yet entered into
activities in developing countries.
force. One of the main obstacles so
Several delegations recalled that 1996 International Convention
IDUWRUDWL¿FDWLRQRIWKH&RQYHQWLRQ
the principle of “common but on Liability and Compensation
for
Damage
in
Connection
with
appears to have been difficulties
differentiated responsibility” needed
the
Carriage
of
Hazardous
and
DVVRFLDWHG ZLWK WKH UHTXLUHPHQW
to be carefully considered and
Noxious Substances by Sea
IRU VWDWHV WR UHSRUW WKH TXDQWLWLHV
included in any regulatory scheme,
(HNS Convention).
they receive of a diverse range of
in order to make it comprehensive
hazardous and noxious substances
and globally applicable. Some
delegations expressed the concern that market-based governed by the Convention.
measures would disadvantage developing countries,
by increasing transportation costs, and cautioned that The IMO Council, at its 102nd session held from 29 June
an extensive bureaucracy would be needed to assure to 3 July 2009, approved the holding of a diplomatic
conference in April 2010, for the purpose of considering
compliance and prevent potential fraud. 151
and adopting the draft protocol.156
After in-depth discussion, the MEPC approved a
Work Plan for further consideration of market-based The MEPC at its fifty-eighth session recalled that
measures.152In addition, MEPC agreed that any regulatory from 31 May 2005, the International Convention for
scheme on GHG emissions applied to international the Control and Management of Ships’ Ballast Water
shipping should be developed and enacted by IMO as and Sediments (BWM Convention), which deals with
KDUPIXO DTXDWLF RUJDQLVPV LQ EDOODVW ZDWHU KDG EHHQ
the most competent relevant international body.153
open for accession. It noted that three more states had
It is also worth noting that as part of the work of the acceded to the Convention since the last session, and
0(3&DGRFXPHQWZDVLVVXHGLQDGYDQFHRILWV¿IW\ urged the other member States to become a Party to
ninth session containing excerpts of the first draft this Convention at the earliest possible opportunity. The
negotiating text to be considered by parties at the BWM Convention will enter into force 12 months after
UNFCCC “climate talks” in June 2009, in the lead-up UDWL¿FDWLRQE\VWDWHVUHSUHVHQWLQJSHUFHQWRIWKH
to the United Nations Climate Change Conference in world merchant tonnage.157
December 2009, as they refer to international maritime
transport.154 The document contains submissions by 7KH 0(3& DW LWV ¿IW\VL[WK VHVVLRQ KDG UHDFKHG WKH
IMO parties on long-term cooperative action under the conclusion that only a limited number of ballast water
Convention, including proposals and views on possible treatment technologies would be available to meet the
VRXUFHV RI IXQGLQJ DQG RQ HPLVVLRQV IURP VSHFL¿F ¿UVWLPSOHPHQWDWLRQGDWHRIWKH%:0&RQYHQWLRQDQG
there were concerns regarding the capability of all ships
sectors.155
subject to regulation B-3.3 to meet the D-2 standard
in 2009 due to procedural and logistical problems.
F
2WKHU,02FRQYHQWLRQVLQWKH¿HOGRIHQYLURQPHQW
Following an initiative by the IMO Secretary-General
7KH ,02 /HJDO &RPPLWWHH GXULQJ LWV QLQHW\¿IWK to address these concerns, the IMO Assembly, at its
session held from 30 March to 3 April 2009, approved WZHQW\¿IWKVHVVLRQDGRSWHGUHVROXWLRQ$RQ
a draft protocol to the 1996 International Convention on the Application of the BWM Convention, which calls on
Liability and Compensation for Damage in Connection states that have not yet done so to ratify the Convention
with the Carriage of Hazardous and Noxious Substances as soon as possible. In the meantime, the resolution
148
recommends that ships subject to regulation B-3.3
FRQVWUXFWHGLQVKRXOGQRWEHUHTXLUHGWRFRPSO\
with regulation D-2 until their second annual survey, but
no later than 31 December 2011. The IMO Assembly in
WKLVUHVROXWLRQDOVRUHTXHVWHG0(3&WRUHYLHZQRWODWHU
WKDQDWLWV¿IW\HLJKWKVHVVLRQWKHLPPHGLDWHDYDLODELOLW\
of type-approved technology for such ships to meet the
UHTXLUHGVWDQGDUGV
$W LWV ¿IW\HLJKWK DQG ¿IW\QLQWK VHVVLRQV WKH 0(3&
JUDQWHG³EDVLFDSSURYDO´WRVL[DQG³¿QDODSSURYDO´WR
another six ballast-water management systems. At its
¿IW\QLQWKVHVVLRQ0(3&QRWHGWKDWWKHQXPEHURIEDOODVW
water treatment technologies available had increased
VLJQL¿FDQWO\WRDWRWDORIWHQV\VWHPVWKDWKDGEHHQJUDQWHG
³¿QDODSSURYDO´,WDOVRUHFRJQL]HGWKDWLWZDVQRWHDV\
to install the ballast water management systems without
extensive design consideration, such as physical and
WHFKQLFDO IHDVLELOLW\ PRGL¿FDWLRQ RI VKLSV GHVLJQV DQG
WKHQHFHVVDU\OHDGWLPHIRUWKHVHPRGL¿FDWLRQV:KLOH
DFNQRZOHGJLQJWKHGLI¿FXOWLHV0(3&DJUHHGWKDWEDOODVW
water treatment technologies were available and were
EHLQJ¿WWHGRQERDUGVKLSVDQGFRQ¿UPHGWKDWDQXPEHU
of ballast water management systems would be available
to ships constructed in 2010.
MEPC, noting that postponing the dates stipulated
LQ UHVROXWLRQ$ ZRXOG QRW EH EHQH¿FLDO WR
the implementation process, would send the wrong
message to the world and would not stimulate the
installation of new ballast water technologies on
board ships, concluded that no changes to Assembly
resolution A.1005(25) were needed with respect
to ships constructed in 2010. Recognizing that a
proactive approach would best serve the interests of
the industry at this stage, MEPC agreed to instruct
the Secretariat to prepare a draft MEPC resolution
UHTXHVWLQJDGPLQLVWUDWLRQVWRHQFRXUDJHWKHLQVWDOODWLRQ
of ballast water management systems during new
ship construction in accordance with the application
dates contained in the Ballast Water Management
Convention, to be presented to the sixtieth session of
MEPC for consideration and adoption.158
D.
STATUS OF CONVENTIONS
There are a number of international conventions affecting
the commercial and technical activities of maritime
transport, prepared or adopted under the auspices of
UNCTAD. Box 3 provides information on the status of
each of these conventions, as at 23 October 2009.159
149
Box 3
Contracting States parties to selected conventions on maritime transport, as at 23 October 2009
Title of convention
Date of entry into force or
conditions for entry into
force
United Nations Convention
on a Code of Conduct for
Liner Conferences, 1974
Entered into force
6 October 1983
on the Carriage of Goods by
Sea, 1978 (Hamburg Rules)
Entered into force
1 November 1992
International Convention on
Maritime Liens and
Mortgages, 1993
Entered into force
5 September 2004
on International Multimodal
Transport of Goods, 1980
on Conditions for Registration of Ships, 1986
1RW\HWLQIRUFH±UHTXLUHV
30 contracting parties
International Convention on
Arrest of Ships, 1999
40 contracting parties with
at least 25 per cent of the
world’s tonnage as per annex III to the Convention
10 contracting parties
Contracting States
Algeria, Bangladesh, Barbados, Belgium, Benin,
Burkina Faso, Burundi, Cameroon, Cape Verde,
Central African Republic, Chile, China, Congo,
Costa Rica, Côte d’Ivoire, Cuba, Czech Republic,
Democratic Republic of the Congo, Egypt, Ethiopia,
Finland, France, Gabon, Gambia, Ghana, Guatemala,
*XLQHD*X\DQD+RQGXUDV,QGLD,QGRQHVLD,UDT,WDO\
Jamaica, Jordan, Kenya, Kuwait, Lebanon, Liberia,
Madagascar, Malaysia, Mali, Mauritania, Mauritius,
0H[LFR0RQWHQHJUR0RURFFR0R]DPELTXH
Netherlands, Niger, Nigeria, Norway, Pakistan, Peru,
Philippines, Portugal, Qatar, Republic of Korea,
Romania, Russian Federation, Saudi Arabia,
Senegal, Serbia, Sierra Leone, Slovakia, Somalia, Spain,
Sri Lanka, Sudan, Sweden, Togo, Trinidad and Tobago,
Tunisia, Turkey, United Republic of Tanzania, Uruguay,
Venezuela (Bolivarian Republic of), Zambia.
(78)
Albania, Austria, Barbados, Botswana,
Burkina Faso, Burundi, Cameroon, Chile,
Czech Republic, Dominican Republic, Egypt,
Gambia, Georgia, Guinea, Hungary, Jordan,
Kazakhstan, Kenya, Lebanon, Lesotho, Liberia,
Malawi, Morocco, Nigeria, Paraguay, Romania,
Saint Vincent and the Grenadines, Senegal,
Sierra Leone, Syrian Arab Republic, Tunisia,
Uganda, United Republic of Tanzania, Zambia.
(34)
Ecuador, Estonia, Lithuania, Monaco, Nigeria,
Peru, Russian Federation, Spain, Saint Vincent and
the Grenadines, Syrian Arab Republic, Tunisia,
Ukraine, Vanuatu.
(13)
Burundi, Chile, Georgia, Lebanon, Liberia, Malawi,
Mexico, Morocco, Rwanda, Senegal, Zambia.
(11)
Albania, Bulgaria, Côte d’Ivoire, Egypt, Georgia,
*KDQD+DLWL+XQJDU\,UDT/LEHULD/LE\DQ$UDE
Jamahiriya, Mexico, Oman, Syrian Arab Republic. (14)
Algeria, Bulgaria, Estonia, Latvia, Liberia, Spain,
Syrian Arab Republic.
Source )RURI¿FLDOVWDWXVLQIRUPDWLRQVHHKWWSZZZXQRUJODZ
(7)
150
ENDNOTES
1
The United Nations General Assembly adopted the United Nations Convention on Contracts for the International
Carriage of Goods Wholly or Partly by Sea on 11 December 2008. The General Assembly authorized the opening for
signature of the Convention at a signing ceremony to be held on 23 September 2009 in Rotterdam, the Netherlands,
and recommended that the rules embodied in the Convention be known as the “Rotterdam Rules”. The text of the
Convention, as adopted, is set out in the annex to the General Assembly Resolution A/RES/62/122. It is also contained
LQDQQH[,RI81&,75$/¶VUHSRUWRQLWVIRUW\¿UVWVHVVLRQGRFXPHQW$ZKLFKLVDYDLODEOHDWKWWSZZZ
XQFLWUDORUJ7KHUHSRUWLWVHOISURYLGHVDXVHIXORYHUYLHZRIWKH¿QDOGLVFXVVLRQVSULRUWRWKH¿QDOL]DWLRQRIWKHWH[W
All other working documents of Working Group III (Transport) are also available on the UNCITRAL website. Unless
otherwise provided, references hereinafter to “articles” relate to provisions in the new Rotterdam Rules.
2
$UWLFOH7KH&RQYHQWLRQHQWHUVLQWRIRUFHRQWKH¿UVWGD\RIWKHPRQWKIROORZLQJWKHH[SLUDWLRQRIRQH\HDUDIWHU
WKHGDWHRIGHSRVLWRIWKHWZHQWLHWKLQVWUXPHQWRIUDWL¿FDWLRQDFFHSWDQFHDSSURYDORUDFFHVVLRQ
3
,QWHUQDWLRQDO&RQYHQWLRQIRUWKH8QL¿FDWLRQRI&HUWDLQ5XOHVRI/DZ5HODWLQJWR%LOOVRI/DGLQJ
4
,QWHUQDWLRQDO&RQYHQWLRQIRUWKH8QL¿FDWLRQRI&HUWDLQ5XOHVRI/DZ5HODWLQJWR%LOOVRI/DGLQJ+DJXH5XOHV
as amended by the Visby and SDR protocols of 1968 and 1979.
5
United Nations Convention on Contracts for the Carriage of Goods by Sea, 1978.
6
See article 89(3).
7
2QFHWKH5RWWHUGDP5XOHVKDYHDWWUDFWHGWKHUHTXLUHGQXPEHURI&RQWUDFWLQJ6WDWHVDQGHQWHULQWRIRUFHFDUULDJH
of goods by sea from or to any of the Contracting States may be governed by the Rotterdam Rules or by national law,
depending on whether a contract falls within the scope of application of the Rotterdam Rules and on the substantive
ODZZKLFKDFFRUGLQJWRWKHFRQÀLFWRIODZUXOHVRIWKHIRUXPLVKHOGWRDSSO\WRWKHGLVSXWH,QJHQHUDOLWPD\EH
expected that courts in Contracting States to the Hague-Visby Rules would apply neither the Rotterdam Rules nor the
Hague-Visby Rules to outward shipments from a Contracting State to the Rotterdam Rules.
8
7KH8QLWHG1DWLRQV&RQYHQWLRQRQ,QWHUQDWLRQDO0XOWLPRGDO7UDQVSRUWKDVQRWDWWUDFWHGWKHUHTXLUHGQXPEHURI
UDWL¿FDWLRQVWRHQWHULQWRIRUFH6HYHUDOVWDWHVKDYHKRZHYHUDGRSWHGQDWLRQDOODZVRQPXOWLPRGDOWUDQVSRUWDWLRQZKLFK
are based on the 1980 Convention. See: UNCTAD, “Implementation of multimodal transport rules”, UNCTAD/SDTE/
TLB/2 and Add.1. See also: UNCTAD, “Multimodal transport: the feasibility of an international legal instrument”,
UNCTAD/SDTE/TLB/2003/1 (available at http://www.unctad.org/ttl/legal).
9
The UNCITRAL Commission, at its thirty-fourth session, created a working group to consider possible uniform
UHJXODWLRQLQWKH¿HOGRIPDULWLPHWUDQVSRUW,QYLHZRI81&7$'¶VLQYROYHPHQWZLWKWKHVXEMHFWWKH&RPPLVVLRQ
VSHFL¿FDOO\ SURYLGHG WKDW WKH ZRUN VKRXOG EH FDUULHG RXW LQ FORVH FRRSHUDWLRQ ZLWK LQWHUHVWHG LQWHUJRYHUQPHQWDO
organizations, such as UNCTAD. See also the São Paulo Consensus at paras. 93 and 107 for an express mandate of
the UNCTAD secretariat to assist developing countries in the ongoing negotiations.
10
Relevant documentation highlighting potential areas of concern, in particular from the perspective of developing
countries, is available on the UNCTAD website at http://www.unctad.org/ttl/legal. For an article-by-article commentary
on the original draft legal instrument published in 2002, see UNCTAD/SDTE/TLB/4. Much of the analysis remains
UHOHYDQWHYHQLQUHVSHFWRIWKH¿QDOGUDIWWH[WRIWKH&RQYHQWLRQ6HHDOVR81&7$'&DUULHUOLDELOLW\DQGIUHHGRP
of contract under the UNCITRAL draft instrument on the carriage of goods [wholly or partly] [by sea], UNCTAD/
SDTE/TLB/2004/2. The documentation is also available on the UNCITRAL website as working documents A/CN.9/
WG.III/WP.21/Add.1, A/CN.9/WG.III/WP.41 and A/CN.9/WG.III/WP.46.
11
A bibliography of academic writing on the Rotterdam Rules is available on the UNCITRAL website (http://www.
uncitral.org). For an analytical overview of the Convention, see, for instance: Diamond A (2008), The Next Sea
Carriage Convention? Lloyd’s Maritime and Commercial Law Quarterly (LMCLQ) 135; and Thomas D R (2008), An
appraisal of the liability regime established under the new UN Convention, 14, Journal of International Maritime Law
-,0/6HHDOVR6WXUOH\07UDQVSRUWODZIRUWKHWZHQW\¿UVWFHQWXU\DQLQWURGXFWLRQWRWKHSUHSDUDWLRQ
philosophy, and potential impact of the Rotterdam Rules, 14, JIML 461. For earlier analysis of different aspects of the
GUDIWOHJDOLQVWUXPHQWVHHWKHSDSHUVRIDFROORTXLXPKHOGLQLQ5RPVH\SXEOLVKHGLQ/0&/4±
and papers of an international symposium held in 2004 in Hamburg, published in Transportrecht (2004) 274–308.
12
2QWKHLQGXVWU\VLGHVWURQJRSSRVLWLRQDJDLQVWUDWL¿FDWLRQRIWKHQHZ&RQYHQWLRQKDVEHHQYRLFHGE\WKH(XURSHDQ
Shippers’ Council (ESC), which represents the interests of 12 national transport user organizations/shippers’ councils
from 12 countries (see the ESC position paper of 24 March 2009 and press release of 29 June 2009, available at http://
151
www.europeanshippers.com), and by CLECAT (the European Association for Forwarding, Transport, Logistic and
Customs Services), which represents European freight forwarders, logistics service providers and customs agents
(see the CLECAT position paper of 29 May 2009, available at http://www.clecat.org). According to information in the
(6&SUHVVUHOHDVHDERYHWKH(XURSHDQ&RPPLVVLRQWRRKDVVHULRXVUHVHUYDWLRQVDERXWUDWL¿FDWLRQDQGLQWHQGVWR
UHOHDVHSURSRVDOVIRUWKHGHYHORSPHQWRID(8HTXLYDOHQWODWHULQ7KHSUHVVUHOHDVHUHIHUVWRDVWDWHPHQWPDGH
by the head of the European Commission’s Directorate-General for Transport and Energy at an ESC seminar on 22
-XQHLQ$QWZHUSLQZKLFKKHLVTXRWHGDVQRWLQJLQWHUDOLDWKDWWKHQHZ&RQYHQWLRQ³ZDVQRWFRQIRUPLQJWR
the European multimodal expectations”.
13
14
Note, for instance, the conclusions of Thomas D R (2008), An appraisal of the liability regime established under the
new UN Convention, 14, JIML 496, at 511: “The Rules are a formidably comprehensive and complex code, as the
VXUYH\RIWKHOLDELOLW\UHJLPHXQGHUWDNHQLQWKLVDUWLFOHDPSO\FRQ¿UPV7KHLUYXOQHUDELOLW\XOWLPDWHO\LVQRWQHFHVVDULO\
to be attributed to the legal principles and framework that is propounded but to their suffocating wordiness, careless
use of language and persistent refusal to abide by the basic rules of elegant and effective drafting. When the time
comes to put the drafting to the test […] it is suspected that the Rules may be found to be wanting and productive of
more disputes than might be considered healthy for the shipping industry.” See also: Tetley W (2008), Some general
criticisms of the Rotterdam Rules, 14, JIML 625, at 626.
On this aspect, see Diamond A (2008), The next sea carriage Convention? LMCLQ 135; van der Ziel G (2008),
Delivery of the goods, rights of the controlling party and transfer of rights, 14, JIML 597; Asariotis R (2008), What
future for the bill of lading as a document of title? 14, JIML 75. See also: Asariotis R (2004), Main obligations and
liabilities of the shipper, Transportrecht 284.
15
On this aspect, see Williams R (2008), Transport documentation under the new Convention, 14, JIML 566. For
some analysis of earlier drafts of the text, see also: Clarke M (2002), Transport documents: their transferability as
documents of title; electronic documents. LMCLQ 356; and Schelin J (2004), Documents, Transportrecht 294.
16
On this aspect, see Goldby M (2008), Electronic alternatives to transport documents and the new Convention: a
framework for future development? 14, JIML 586. For some comments regarding earlier drafts of the text, see
also: van der Ziel G (2003), The legal underpinning of e-commerce in maritime transport by the UNCITRAL Draft
Instrument on the Carriage of Goods by Sea, 9, JIML 461.
17
See articles 74 and 78. In general, the rules on jurisdiction and arbitration that are set out in chapters 14 and 15 only
apply if a Contracting State declares that it will be bound by them. In the absence of such a declaration, national
rules would apply to determine whether contractual choice of a forum is admissible. Both chapters envisage a list of
places, at the claimant’s choice, for the institution of legal/arbitral proceedings against the carrier. Contractual choice
of forum is only permitted in the context of volume contracts, and under certain conditions, but the position of third
parties is specially regulated. Whether third parties are bound by a contractual choice of forum depends on the “law
of the court seized” (in the case of jurisdiction clauses) or the “applicable law” (in the case of arbitration clauses)
and on whether the selected forum is situated in one of the listed places. There is considerable uncertainty associated
with the practical application of these provisions in different jurisdictions, which may or may not have opted into the
jurisdiction and arbitration chapters. For detailed analysis, see Baatz YM (2008), Jurisdiction and arbitration under
the Rotterdam Rules, 14, JIML 608. On this issue, at an earlier stage of the negotiation process, see also: Berlingieri
F (2004), Freedom of contract under the Rules, Forum and Arbitration Clauses, Transportrecht 303.
18
For some discussion of earlier drafts of the text, see, for instance: Sturley MF (2005), Solving the scope-of-application
puzzle: contracts, trades and documents in the UNCITRAL transport law project, 11, JIML 22; and Rosaeg E (2002),
The applicability of conventions for the carriage of goods and for multimodal transport, LMCLQ 316.
19
&RQWUDFWRIFDUULDJHLVGH¿QHGLQDUWLFOHDVD³FRQWUDFWLQZKLFKWKHFDUULHUDJDLQVWWKHSD\PHQWRIIUHLJKW
undertakes to carry goods from one place to another. The contract shall provide for carriage of goods by sea and may
provide for carriage by other modes of transport in addition to sea carriage.”
20
For an analysis of relevant provisions, see Hancock C (2008), Multimodal transport and the new UN Convention
on the carriage of goods, 14, JIML 484. In relation to earlier versions of the draft conventions, see Hoeks M (2008),
Multimodal carriage with a pinch of sea salt: door-to-door under the UNCITRAL draft instrument, European
Transport Law 257; Faghfouri M (2006), International regulation of liability for multimodal transport – in search
of uniformity, World Maritime University (WMU) Journal of Maritime Affairs 61; Haak KF and Hoeks M (2004),
$UUDQJHPHQWVRILQWHUPRGDOWUDQVSRUWLQWKH¿HOGRIFRQÀLFWLQJFRQYHQWLRQV-,0/&ODUNH0$
FRQÀLFWRIFRQYHQWLRQV7KH81&,75$/&0,GUDIWWUDQVSRUWLQVWUXPHQWRQ\RXUGRRUVWHS-,0/&]HUZHQND
B (2004), Scope of application and rules on multimodal transport contracts, Transportrecht 297; and Alcantara JM
(2002), The new regime and multimodal transport, LMCLQ 399.
152
21
6HHWKHGH¿QLWLRQRIFRQWUDFWRIFDUULDJHVHWRXWLQDUWLFOH³&RQWUDFWRIFDUULDJH´PHDQVDFRQWUDFWLQZKLFK
a carrier, against the payment of freight, undertakes to carry goods from one place to another. The contract shall
provide for carriage by sea and may provide for carriage by other modes of transport in addition to sea carriage”.
7KHGH¿QLWLRQKDVEHHQFULWLFL]HGDVODFNLQJLQSUHFLVLRQDVGLIIHUHQWDSSURDFKHVWRWKHLQWHUSUHWDWLRQRIWKHVHFRQG
sentence of the provision appear possible. For some discussion of different approaches to interpretation, see Diamond
A (2008), The next sea carriage Convention? LMCLQ 135 at 140.
22
The substantive scope of application and the provisions regulating the application of the Convention to multimodal
WUDQVSRUWUHPDLQHGFRQWURYHUVLDOHYHQDWWKH81&,75$/&RPPLVVLRQPHHWLQJDWZKLFKWKH¿QDOWH[WZDVDJUHHG
with some States proposing to make the multimodal application of the new international regime optional, or proposing
to provide for continued applicability of existing national law. Others expressed concern about the suitability of the
substantive liability regime in the context of international multimodal transportation. See A/63/17 at paras. 23, 93–98
and 270–278.
Ibid.
23
24
In particular the Convention on the Contract for the International Carriage of Goods by Road (1956), as amended
by the 1978 Protocol (the “CMR”), the Uniform Rules concerning the Contract for International Carriage of Goods
by Rail (appendix B to the Convention concerning International Carriage by Rail, as amended by the Protocol of
0RGL¿FDWLRQRIWKH³&,0&27,)´WKH&RQYHQWLRQIRUWKH8QL¿FDWLRQRI&HUWDLQ5XOHVIRU,QWHUQDWLRQDO
Carriage by Air 1999 (the “Montreal Convention”), and the Budapest Convention on the Contract for the Carriage
of Goods by Inland Waterways, 2000 (the “CMNI”).
25
Only the application of existing international conventions (and any relevant future amendments thereto on carrier
liability) has been preserved; see article 82. For relevant discussions at the 2008 UNCITRAL Commission session,
see A/63/17 at paras. 249–254.
26
7KHWHUP³FDUULHU´LVGH¿QHGLQDUWLFOHDV³DSHUVRQWKDWHQWHUVLQWRDFRQWUDFWRIFDUULDJHZLWKDVKLSSHU´2Q
carrier liability, see, for instance: Nikaki T (2008), The fundamental duties of the carrier under the Rotterdam Rules,
14, JIML 512; Honka H (2004), Main obligations and liabilities of the carrier, Transportrecht 278; and Berlingieri F
(2002), Basis of liability and exclusions from liability, LMCLQ 336.
27
'H¿QHGLQDUWLFOHVDQG$FFRUGLQJO\DPDULWLPHSHUIRUPLQJSDUW\LVDSDUW\WKDWSHUIRUPVRUXQGHUWDNHVWR
SHUIRUPDQ\RIWKHFDUULHU¶VREOLJDWLRQVDWWKHFDUULHU¶VUHTXHVWRUXQGHUKLVVXSHUYLVLRQ³GXULQJWKHSHULRGEHWZHHQ
arrival of the goods at the port of loading and their departure from the port of discharge. An inland carrier is a maritime
performing party only if it performs or undertakes to perform its services exclusively within a port area.”
28
Liability for delay in delivery only arises in cases where a time for delivery has been agreed in the contract. Delay is
GH¿QHGLQDUWLFOH³'HOD\LQGHOLYHU\RFFXUVZKHQWKHJRRGVDUHQRWGHOLYHUHGDWWKHSODFHRIGHVWLQDWLRQSURYLGHG
for in the contract of carriage within the time agreed.”
29
See article 59, according to which “the carrier’s liability for breaches of its obligations under this Convention is limited
to 875 [SDR] per package or other shipping unit or 3 [SDR] per kg of the gross weight of the goods that are subject
to the claim or dispute, whichever amount is higher,” except where a higher value of the goods has been declared or
a higher limit of liability has been agreed. Note that for potential liability from delay in delivery, a separate limit of
2.5 times the agreed freight applies (article 60). This is similar to the corresponding limit in the Hamburg Rules.
30
The relevant limitation amounts under the Hague-Visby Rules and Hamburg Rules are 666.7 SDR/pkg or 2 SDR/
kg, and 825 SDR/pkg or 2.5 SDR/kg, respectively.
31
Note that while there is an express seaworthiness obligation, there is no corresponding obligation in respect of vehicles
other than ships that may be used in the performance of the contract.
32
Note in particular articles 17(3) (f), (h), (i), (n) and (o). The so-called “nautical fault” exemption has been omitted
FIDUWLFOH,9UD+95DVKDVWKHVRFDOOHG³FDWFKDOO´H[HPSWLRQDUWLFOH,9UT+957KH¿UHH[HPSWLRQ
(cf. article IV r. 2(b) HVR) has been retained, but it no longer protects the carrier in cases of proven negligence (cf.
article 17(4)). Exempting events/circumstances without express parallel in the Hague-Visby Rules include “loading,
handling, stowage or unloading of the goods” performed pursuant to a “free in and out stowage” (FIOS)-type agreement
which is now expressly permitted under article 13(2), as well as “reasonable measures to avoid or attempt to avoid
damage to the environment.” Moreover, the list of events or circumstances includes “acts of the carrier in pursuance
of the powers conferred by articles 15 and 16”. Article 15 deals with potentially dangerous cargo and gives the carrier
broad rights, “notwithstanding” its obligations regarding delivery of the goods and care of cargo (articles 11 and 13),
WRGLVSRVHRIJRRGV$UWLFOHJLYHVWKHFDUULHUDEURDGULJKWWR³VDFUL¿FHJRRGVDWVHD´³QRWZLWKVWDQGLQJ´DUWLFOHV
11, 13 and 14, i.e. irrespective of the carrier’s seaworthiness obligation.
153
33
$³GRFXPHQWDU\VKLSSHU´LVGH¿QHGLQDUWLFOHDV³DSHUVRQRWKHUWKDQWKH>FRQWUDFWLQJ@VKLSSHUWKDWDFFHSWVWR
be named as “shipper” in the transport document or electronic transport record.”
34
For detailed analysis, see Asariotis R (2008), Burden of proof and allocation of liability for loss due to a combination
of causes under the Rotterdam Rules, 14, JIML 537. For earlier analysis, see also: UNCTAD (2004), Carrier liability
and freedom of contract under the UNCITRAL draft instrument on the carriage of goods [wholly or partly] [by
sea], UNCTAD/SDTE/TLB/2004/2; and Asariotis R (2002), Allocation of liability and burden of proof in the draft
instrument on transport law, LMCLQ 382.
35
Ibid. See also: Sturley M (2009) Modernizing and Reforming US Maritime Law: The Impact of the Rotterdam Rules
in the United States, 44, Texas International Law Journal 427 at 447-448 and Hooper C (a former president of the
United States Maritime Law Association and member of the United States delegation to the UNCITRAL Working
Group), The Rotterdam Rules – simpler than they appear, The Arbitrator 40 (2009) 5, available at http://www.smany.
org/sma/pdf/Vol40_No3_Apr2009.pdf.
36
7KHWHUP³VKLSSHU´LVGH¿QHGLQDUWLFOHDV³DSHUVRQWKDWHQWHUVLQWRDFRQWUDFWRIFDUULDJHZLWKDFDUULHU´2Q
the liability of the shipper, see Baughen S (2008), Obligations of the shipper to the carrier, 14, JIML 555 at 564. For
analysis of the relevant provisions, as contained in an earlier text of the draft convention, see Asariotis R (2004),
Main obligations and liabilities of the shipper, Transportrecht 284. See also: Zunarelli S (2002), The liability of the
shipper, LMCLQ 350.
37
Information duties and any potential liability for failure to comply may, in future, become more relevant as a result
of international and national regulation to enhance maritime and supply-chain security. Potential losses could arise,
IRULQVWDQFHDVDUHVXOWRIWKHGHOD\RIDYHVVHORUGXHWRDIDLOXUHRQWKHSDUWRIWKHVKLSSHUWRSURYLGHUHTXLUHG
documentation or information. For some information, see an UNCTAD report published in 2004 entitled “Container
security: major initiatives and related international developments” (UNCTAD/SDTE/TLB/2004/1), which is available
at http://www.unctad.org/ttl/legal.
38
See notes 34 and 35, above.
39
However, note that a two-year time bar applies to all claims under the Convention, article 62.
40
See article 58(2), which states that a “holder” who “exercises any rights under the contract of carriage” also “assumes
any liabilities imposed on it under the contract of carriage”. However, it has been argued, with reference to the wording
of articles 58(2) and 79(2)(b) that the statutory obligations set out in chapter 7 may be personal to the shipper, and
cannot be contractually transferred to a third-party consignee. See Baughen S (2008), Obligations of the shipper to
the carrier, 14, JIML 555 at 564; and the discussion by Williams R (2008), Transport documentation under the new
Convention, 14, JIML 566 at 583.
41
CIF stands for Cost, insurance and freight. See INCOTERMS 2000, published by the International Chamber of
Commerce.
42
For an overview of the role and function of different types of transport documents, see UNCTAD: The use of transport
documents in international trade, UNCTAD/SDTE/TLB/2003/3, paras. 9–42, available at http://www.unctad.org/
ttl/legal. For a critical assessment of the approach adopted in the Rotterdam Rules, see the references in note 14,
above.
43
For analysis of the regulation of volume contract under the Convention, see Asariotis R, UNCITRAL draft convention
on contracts for the carriage of goods wholly or partly by sea: Mandatory rules and freedom of contract, in: Antapassis,
Athanassiou and Rosaeg eds. (2009), Competition and regulation in shipping and shipping-related industries, Martinus
Nijhoff 349. On this issue, at an earlier stage of the negotiation process, see also: Berlingieri F (2004), Freedom of
contract under the Rules; Forum and Arbitration Clauses, Transportrecht 303.
44
See article III, r.8 of the Hague Rules and the Hague-Visby Rules and article 23 of the Hamburg Rules.
45
Article V of the Hague-Visby Rules and article 23(2) of the Hamburg Rules.
46
The mandatory application of the Hague Rules and the Hague-Visby Rules extends to “bills of lading or similar
documents of title” (see article I(b) of the Hague-Visby Rules). Non-negotiable seawaybills are not expressly covered.
However, as they are also standard form documents, issued by a carrier and operating as a receipt and as evidence
of a contract of carriage, the national legislation of some States extends the protection of the Hague Rules and the
Hague-Visby Rules to non-negotiable seawaybills. The Hamburg Rules apply to all contracts for the carriage of
goods by sea, other than charter parties (articles 1(6), 2(1) and (3) of the Hamburg Rules) and thus include contracts
covered by negotiable as well as non-negotiable transport documents. See the UNCTAD report entitled “The use of
transport documents in international trade”, UNCTAD/SDTE/TLB/2003/3.
154
47
See chapter 4, table 32.
48
For an overview of the genesis of the set of provisions dealing with volume contracts and the relevant debate within
WKH81&,75$/:RUNLQJ*URXSVHHWKH¿QDOUHSRUWRIWKH:RUNLQJ*URXS$&1DWSDUDV±5HOHYDQW
proposals submitted by delegations in the course of the UNCITRAL Working Group deliberations concerning volume
contracts are contained in documents A/CN.9/WG.III/WP.34 and 42 (United States), and in document A/CN.9/WG.III/
WP.88 (Australia and France). Relevant submissions by Governments to the UNCITRAL Commission at which the
WH[WZDV¿QDOL]HGDUHDYDLODEOHRQWKH81&,75$/ZHEVLWHXQGHU&RPPLVVLRQGRFXPHQWVIRUWKHIRUW\¿UVWVHVVLRQ
It should be noted that a number of delegations, including Australia, New Zealand and China, had expressed particular
FRQFHUQVLQUHODWLRQWRWKHWUHDWPHQWRIYROXPHFRQWUDFWV7KHVHKRZHYHUGLGQRWOHDGWRDFKDQJHLQWKH¿QDOWH[W
as adopted by the Commission.
49
Article 80(2).
50
Article 80(4).
51
It should again be noted that information duties and any potential liability for failure to comply may, in future, become
more relevant as a result of international and national regulation to enhance maritime and supply-chain security – see
note 37, above.
52
6HHRQO\WKHUHSRUWRIWKH81&,75$/:RUNLQJ*URXSRQWKHZRUNRILWV¿QDOVHVVLRQLQ-DQXDU\$&1
at para. 36.
53
While derogations must be set out in the volume contract, incorporation of (standard) terms by reference is permitted;
see article 80(2) and (3).
54
Article 80(2)(b).
55
Article 80(2)(c).
56
Article 80(5).
57
,WVKRXOGEHQRWHGWKDWDWWKHWLPHRIZULWLQJUDWL¿FDWLRQRIWKH&RQYHQWLRQDSSHDUVWRHQMR\WKHVXSSRUWRIFDUULHU
representatives such as the European Community’s Shopowners Associations (ECSA), the International Chamber of
Shipping (ICS) and the World Shipping Council (WSC), whereas strong opposition has been expressed by the European
Shippers’ Council (ESC) and freight forwarders’ organization CLECAT as well as the International Association
of Freight Forwarders Associations (FIATA). Position papers by these and some other industry representatives are
available on the UNCITRAL website at http://www.uncitral.org.
58
See also note 13, above.
59
See note 17, above, and the accompanying text.
60
The 1988 SUA Convention came into force on 1 March 1992. As at 2 October 2009, it had 154 parties, representing
93.45 per cent of world tonnage. Its text can be found at http://www.admiraltylawguide.com. For its latest updated
status, check the IMO website at http://www.imo.org.
61
For a description of amendments to the 1988 SUA and its 1988 Protocol adopted in 2005 under the auspices of IMO,
see the Review of Maritime Transport 2006. As at 2 October 2009, the 2005 amendment to the SUA Convention
had not yet entered into force. Only nine Contracting States had become parties, representing 6.01 per cent of world
tonnage.
62
Reports are issued under the MSC.4/Circ series. Their texts can be found at http://docs.imo.org.
63
http://www.icc-ccs.org
64
IMO, in its “Code of practice for the investigation of crimes of piracy and armed robbery against ships” distinguishes
³SLUDF\ÍURP³DUPHGUREEHU\DJDLQVWVKLSV´ZLWK³SLUDF\ÉHLQJUHVWULFWHGWRXQODZIXODFWVDVGH¿QHGLQDUWLFOH
101 of the 1982 United Nations Convention on the Law of the Sea. The code of practice was adopted in November
2001 during the twenty-second session of the IMO Assembly, by resolution A/922(22). For the text of the code, see
MSC 74/24/Add.1 – Report of the MSC at its seventy-fourth session, annexes 1–22, annex 18, article 2.2; or MSC/
&LUFDYDLODEOHDWKWWSZZZGRFVLPRRUJ7KH,&&,QWHUQDWLRQDO0DULWLPH%XUHDX,0%GH¿QHV³SLUDF\DQG
armed robbery” as: “an act of boarding or attempting to board any ship with the apparent intent to commit theft or
any other crime and with the apparent intent or capability to use force in the furtherance of that act.” This updated
GH¿QLWLRQFRYHUVDFWXDORUDWWHPSWHGDWWDFNVZKHWKHUWKHVKLSLVEHUWKHGDWDQFKRURUDWVHDKWWSZZZLFFFFV
org).
65
ICC–IMB Piracy and Armed Robbery Against Ships Report – Annual Report 2008.
66
See the 5HSRUWRIWKH0DULWLPH6DIHW\&RPPLWWHHRQLWVHLJKW\¿IWKVHVVLRQ. MSC 85/26, page 100.
67
MSC.1/Circ.622/Rev.1; MSC.1/Circ.623/Rev.3; and resolution A.922(22).
68
MSC 86/18/1.
69
155
For more information on the discussions held, see the Report of the Maritime Safety Committee on its eighty-sixth
session,06&)RUVSHFL¿FFKDQJHVDQGXSGDWHVWRWKHH[LVWLQJJXLGDQFHVHHLELGSDJH
70
MSC.1/Circ.1333 (previously MSC.1/Circ.622/Rev.1).
71
MSC.1/Circ.1334 (previously MSC.1/Circ.623/Rev.3).
72
MSC.1/Circ.1302
73
Resolution A.922(22).
74
Resolution A.1002(25) on “Piracy and armed robbery against ships in waters off the coast of Somalia” (http://docs.
imo.org).
75
See the ICC–IMB Piracy and Armed Robbery Against Ships Report – First Quarter 2009.
76
6HHIRUH[DPSOHLQIRUPDWLRQRQWKHZRUNRIWKH8QLWHG1DWLRQV2I¿FHRQ'UXJVDQG&ULPH812'& and the
United Nations Commission on Crime Prevention and Criminal Justice (http://www.unodc.org). See also: “Piracy
must be defeated in courts, ports and banks, not just at sea”, editorial by Antonio Maria Costa, UNODC Executive
Director, Lloyd’s List, 5 February 2009.
77
The texts of the resolutions can be found at the United Nations Security Council website, http://www.un.org/docs/
sc.
78
See S/RES/1846/2008, adopted on 2 December 2008, para. 19.
79
For the text of the establishing statement, see http://www.marad.dot.gov. Participating in the meeting were representatives
from Australia, China, Denmark, Djibouti, Egypt, France, Germany, Greece, India, Italy, Japan, Kenya, the Netherlands,
Oman, the Republic of Korea, the Russian Federation, Saudi Arabia, Somalia (Transitional Federal Government),
Spain, Turkey, the United Arab Emirates, the United Kingdom, the United States and Yemen, as well as the African
Union, the European Union, the North Atlantic Treaty Organization, the United Nations Secretariat and the International
Maritime Organization. Additionally, Belgium, Djibouti, Norway, Portugal, Sweden and the Arab League, joined
the Contact Group. See also the UNODC press release from 20 January 2009 entitled “Ship riders”: tackling Somali
pirates at sea.
80
IMO circular letter no. 2933, 23 December 2008. According to IMO document LEG 96/7/Corr.1, as at 23 September 2009
replies had been received from Argentina, Australia, Azerbaijan, the Bahamas, Belgium, Brazil, Chile, Colombia,
Denmark, Ecuador, Estonia, Germany, Greece, Guatemala, Iran (Islamic Republic of), Italy, Jamaica, Japan, Mexico,
Morocco, New Zealand, Peru, the Philippines, the Republic of Korea, the Russian Federation, Spain, Sri Lanka,
Thailand, The United States and Uruguay. Hong Kong (China) also submitted its legislation. It was noted that some
replies to the circular letter provided a summary of the national law rather than the text of current legislation.
81
For further information, see http://www.mschoa.org.
82
See the ICC–IMB Piracy and Armed Robbery Against Ships Report – First Quarter 2009, page 31. See also: New
‘hunters’ stalk pirates, Fairplay, 15 January 2009.
83
Security Council resolution 1846 of 2 December 2008 welcomes initiatives by Canada, Denmark, France, India, the
Netherlands, the Russian Federation, Spain, the United Kingdom and the United States of America, pursuant to earlier
Security Council resolutions.
84
ICC–IMB Piracy and Armed Robbery Against Ships Report – First Quarter 2009, page 31.
85
See http://www.wcoomd.org.
86
SAFE Framework of standards to secure and facilitate global trade, rev. June 2007: 6, footnote 1.
87
See SAFE Framework, rev. June 2007, subsection 5.2: 37.
88
APEC’s member states are Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong (China), Indonesia,
Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, the Republic of Korea, the Russian
Federation, Singapore, Thailand, the United States and Viet Nam.
89
For instance Australia, Canada, China, Japan, New Zealand, Singapore and the United States.
90
Among the member states of the European Union, Germany, the Netherlands, Sweden and the United Kingdom are
156
OLVWHGDVWKHPRVWDGYDQFHGFRXQWULHVLQLVVXLQJFHUWL¿FDWHV
91
Argentina, Canada, China, Japan, Jordan, New Zealand, Norway, the Republic of Korea, Singapore and the United
States. In addition, an AEO programme will start in Morocco.
92
Australia, Botswana, Chile, Mexico, Serbia, and the former Yugoslav Republic of Macedonia.
93
7KH ¿UVW ELODWHUDO PXWXDO DJUHHPHQW UHODWLQJ WR$(2V ZDV WKH 8QLWHG 6WDWHV±1HZ =HDODQG 0XWXDO 5HFRJQLWLRQ
Agreement, announced in June 2007 (see the press release entitled U.S., New Zealand establish joint trade security
arrangement, 29 June 2007 (http://www.cbp.gov). In June 2008, the United States signed an arrangement with Canada
on mutual recognition of the Customs-Trade Partnership Against Terrorism (C-TPAT) and the Partners in Protection
programme (PIP). The PIP is comparable to the C-TPAT and the EU’s AEO programme; see the Canada Border Services
$JHQF\ZHEVLWHDWKWWSFEVDDVIFJFFD7KHRWKHU¿YH05$VDUH8QLWHG6WDWHV±-RUGDQ-DSDQ±1HZ=HDODQG8QLWHG
States–Japan, EU-Switzerland and EU-Norway.
94
Andorra and San Marino.
95
See the speech by the Secretary-General of the WCO at the International Transport Forum 2009, IRU workshop,
Leipzig, 27 May 2009, available at http://www.wcoomd.org.
96
WCO Columbus Programme brochure – Enhancing the global dialogue on capacity-building. See also the Capacitybuilding development compendium, a Columbus Programme phase 2 implementation tool, which is available at http://
www.wcoomd.org.
97
These countries are Azerbaijan, Brazil, Burkina Faso, China, the Dominican Republic, Egypt, Hong Kong (China),
Hungary, India, Japan, Kenya, Lebanon, Malaysia, the Russian Federation, South Africa and Zimbabwe. See: http://
www.wcoomd.org.
98
For more information, see: WCO News, No. 58, February 2009, http://www.wcoomd.org.
99
The text of the report can be found at the WCO website at http://www.wcoomd.org.
100
)RUPRUHLQIRUPDWLRQVHHWKHUHSRUW³&XVWRPVLQWKHWZHQW\¿UVWFHQWXU\(QKDQFLQJJURZWKDQGGHYHORSPHQWWKURXJK
trade facilitation and border security”, available at http://www.wcoomd.org.
101
Ibid.
102
Regulation No. 1875/2006 is contained in the 2I¿FLDO-RXUQDO L 360, 19 December 2006: 64.
103
A number of guidance documents and tools have been prepared by the European Commission, including detailed AEO
guidelines published in June 2007, a common framework for risk assessment of economic operators called COMPACT
which was published in June 2006, an AEO self-assessment tool, and an AEO e-learning tool. The AEO guidelines
(TAXUD/2006/1450) and the AEO compact model (TAXUD/2006/1452) are available at http://ec.europa.eu.
104
See article 1.12 of regulation (EEC) no. 2454/93, as amended by article 1 of regulation (EC) no. 1875/2006.
105
See AEO Guidelines (TAXUD/2006/1450): 8.
106
)RUXSGDWHVVHHKWWSHFHXURSDHXWD[DWLRQBFXVWRPVGGVFJLELQDHRTXHU\"/DQJ (1
107
Information provided by the EU Secretariat, DG Taxation and Customs Union.
108
OJ.L 98/3 of 17 April 2009 (http://eur-lex.europa.eu).
109
For further information, see http://ec.europa.eu.
110
See the Guidelines on EORI, TAXUD/2008/1633 rev. 1.9, issued on 14 May 2009. For information concerning the
authorities in member states responsible for assigning EORI numbers, see information on the European Commission’s
website (http://ec.europa.eu). In addition, an e-learning tool on EORI will soon be available on the same website.
111
In particular, Andorra, China, Japan, and San Marino. Negotiations with Canada are also to begin. For more information
see the European Commission website (http://ec.europa.eu). See also the Review of Maritime Transport 2008.
112
See the ICC discussion paper “ICC recommendations on mutual recognition of US–EU trade partner programmes for
border security”, fourth revision, 23 January 2009, available at http://www.iccwbo.org.
113
Press release, 27 March 2008. For further information, see the United States Customs and Border Protection website
at http://www.cbp.gov.
114
European Commission, Taxation and Customs Union press release. “United States Customs and Border Protection
and European Commission adopt the joint roadmap towards mutual recognition trade partnership programmes”,
27 March 2008.
157
115
Abridged external partner version of the United States–European Union Joint Customs Cooperation Committee
roadmap towards mutual recognition of trade partnership programmes. The text is available on the Customs and
Border Protection website at http://www.cbp.gov.
116
ICC discussion paper “ICC recommendations on mutual recognition of US–EU trade partner programmes for border
security”, fourth revision, 23 January 2009, available at http://www.iccwbo.org.
117
WCO AEO Guidelines, Section F(a).
118
For further information on the United States 24-hour rule, see http://www.cbp.gov. See also the UNCTAD report
entitled “Container security: Major initiatives and related international developments” (UNCTAD/SDTE/TLB/2004/1)
at http://www.unctad.org/ttl/legal.
119
Commission regulation (EC) no. 273/2009 of 2 April 2009, laying down provisions for the implementation of Council
Regulation (EEC) no. 2913/92 establishing the Community Customs Code, derogating from certain provisions of
Commission Regulation (EEC) no. 2454/93. 2I¿FLDO-RXUQDORIWKH(XURSHDQ8QLRQ L 91/14, http://eur-lex.europa.
eu.
120
In this context, see, for instance, the UNCTAD report entitled “Maritime security: ISPS implementation, costs and
UHODWHG¿QDQFLQJ81&7$'6'7(7/%UHÀHFWLQJWKHUHVXOWVRIDVXUYH\FRQGXFWHGE\WKHVHFUHWDULDWZKLFK
showed that the costs of compliance with the ISPS Code were proportionately higher for smaller ports.
121
For the text, see http://edocket.access.gpo.gov/2008/pdf/E8-27048.pdf, where earlier comments by stakeholders are
also addressed.
122
)RUIXUWKHULQIRUPDWLRQVHHDOVRWKHIUHTXHQWO\DVNHGTXHVWLRQVGRFXPHQWODVWXSGDWHGRQ-DQXDU\ZKLFK
is available at http://www.cbp.gov.
123
See: “China ‘amnesty’ on 24-hour electronic manifest rule”, Lloyd’s List, 7 January 2009.
124
For further information, see the Review of Maritime Transport 2008.
125
See the 5HSRUWRIWKH0DULWLPH6DIHW\&RPPLWWHHRQLWVHLJKW\¿IWKVHVVLRQ, MSC 85/26, 18 December 2008, available
at http://docs.imo.org.
126
The Ad Hoc Working Group on Maritime Security was re-established at the eighty-third session of the MSC. See
the Review of Maritime Transport 2008.
127
For further information on the LRIT and relevant decisions at earlier sessions of the MSC, see the Review of Maritime
Transport 2008.
128
According to a press release from the European Maritime Safety Agency (http://www.emsa.europa.eu), the EU LRIT
Data Centre entered into production on 1 June 2009, following successful developmental testing. The participating
countries/territories are: Aruba, Austria, Belgium, Bulgaria, Cyprus, the Czech Republic, Denmark, Estonia, Germany,
Greece, Greenland, Finland, France, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the
Netherlands, the Netherlands Antilles, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and
the United Kingdom.
129
6HHWKH5HSRUWRIWKH0DULWLPH6DIHW\&RPPLWWHHRQLWVHLJKW\¿IWKVHVVLRQ06&'HFHPEHUKWWS
docs.imo.org.
130
The IMSO, which was created to launch and run services related to IMO’s global maritime distress and safety system,
KDVWDNHQDOHDGUROHLQWKHGHYHORSPHQWRIWKH/5,7V\VWHPEHFRPLQJWKHRI¿FLDO/5,7FRRUGLQDWRU06&KDG
UHTXHVWHG³,062DFWLQJDV/5,7&RRUGLQDWRUWRDXWKRUL]HRQEHKDOIRIDQGVXEMHFWWRFRQVLGHUDWLRQDQGDSSURYDO
acceptance or endorsement of the action by the Committee, the integration, on an interim basis, of the data centres
that have undergone and satisfactorily completed developmental testing into the production LRIT system”. See the
5HSRUWRIWKH0DULWLPH6DIHW\&RPPLWWHHRQLWVHLJKW\¿IWKVHVVLRQ06&
131
)RUGHWDLOHGLQVWUXFWLRQVJLYHQVHHWKH5HSRUWRIWKH0DULWLPH6DIHW\&RPPLWWHHRQLWVHLJKW\¿IWKVHVVLRQ06&
85/26: 58–59.
132
MSC.1/Circ.1307.
133
MSC.1/Circ.1308.
134
MSC.1/Circ.1309. For more information on the discussions held, see the Report of the Maritime Safety Committee
on its eighty-sixth session, MSC 86/26: 33–49.
135
For more information, see the ISO website at http://www.iso.org/iso/developing_countries.
158
136
For further information see the “Report on the work of the United Nations Open-ended Informal Consultative Process
on Oceans and the Law of the Sea at its ninth meeting”, A/63/174, 28 July 2008 (http://ods.un.org).
137
,QWHUQDWLRQDO&RQYHQWLRQIRUWKH3UHYHQWLRQRI3ROOXWLRQIURP6KLSVDVPRGL¿HGE\WKH3URWRFRORI
relating thereto (MARPOL).
138
The conference also adopted six resolutions, including resolutions on future work pertaining to the Convention, on
HDUO\LPSOHPHQWDWLRQRIWKH&RQYHQWLRQDQGRQWKHH[SORUDWLRQDQGPRQLWRULQJRIWKHEHVWSUDFWLFHVIRUIXO¿OOLQJWKH
&RQYHQWLRQUHTXLUHPHQWV
139
See resolution 4 adopted by the Conference.
140
Article 17 of the Convention.
141
Increased risk of premature death from pulmonary diseases and worsened respiratory diseases.
142
³5HSRUWRIWKH0DULQH(QYLURQPHQW3URWHFWLRQ&RPPLWWHHRQLWV¿IW\VHYHQWKVHVVLRQ´0(3&$SULO
See also the website of the United Nations Framework Convention on Climate Change at http://unfccc.int/methods_
and_science/emissions_from_intl_transport/items/1057.php.
143
For updated status, see http://www.imo.org.
144
For the text of the resolutions, see MEPC 58/23/Add.1. For the content of the amendments endorsed earlier on SOx
and NOx emissions and particulate matter, see the Review of Maritime Transport 2008.
145
6HHWKH5HSRUWRIWKH0DULQH(QYLURQPHQWDO3URWHFWLRQ&RPPLWWHHDWLWV¿IW\HLJKWKVHVVLRQ0(3&KWWS
docs.imo.org).
146
In this context, see documents MEPC 58/4/2 and MEPC 58/4/4.
147
MEPC 59/INF.10.
148
MEPC 59/4/7.
149
See the Report of the 0DULQH(QYLURQPHQWDO3URWHFWLRQ&RPPLWWHHDWLWV¿IW\QLQWKVHVVLRQ0(3&
150
Ibid. Annexes 17-20.
151
Ibid., page 44-50.
152
Ibid., Annex 16.
153
MEPC 59/24 at para. 4.107.
154
MEPC 59/4/40. This complements the information on the ongoing process within the UNFCCC contained in documents
MEPC 59/4 and MEPC 59/INF.29.
155
Further information on draft negotiating texts and other relevant submissions by Parties can be found in annexes 1,
2 and 3 of document MEPC 59/4/40.
156
See IMO Council document C.102/D, 9 July 2009, Summary of decisions. For the text of the draft protocol, see the
5HSRUWRIWKH/HJDO&RPPLWWHHRQWKHZRUNRILWVQLQHW\¿IWKVHVVLRQ/(*DQQH[
157
According to information provided on the IMO website, as at 2 October 2009, 18 states had become members of the
BWM Convention, representing 15.36 per cent of world tonnage.
158
See the Report of the 0DULQH(QYLURQPHQWDO3URWHFWLRQ&RPPLWWHHDWLWV¿IW\QLQWKVHVVLRQ0(3&SDJH
159
Up-to-date and authoritative information on the status of international conventions is available from the relevant
depository. For United Nations conventions, see the United Nations website at http://www.un.org/law. This site
also provides links to a number of websites of other organizations, such as IMO (http://www.imo.org), ILO (http://
www.ilo.org) and the United Nations Commission on International Trade Law (http://www.uncitral.org), containing
information on conventions adopted under the auspices of each of them. Since the last reporting period, four States,
QDPHO\%XOJDULD'HQPDUN*HUPDQ\DQGWKH8QLWHG.LQJGRPKDYHJLYHQWKHLUQRWL¿FDWLRQVRIGHQXQFLDWLRQRIWKH
United Nations Convention on a Code of Conduct for Liner Conferences, 1974.
Chapter 7
REVIEW OF REGIONAL DEVELOPMENTS: AFRICA
Every year, the Review of Maritime Transport gives attention to transport developments in a particular region.
The 2008 edition of the Review of Maritime Transport focused on developments in Latin America and the
Caribbean. The focus in 2009 is on developments in Africa since UNCTAD last reported on the region in 2006.
'HVSLWHWKHJOREDO¿QDQFLDOFULVLVWKHUHJLRQVWLOOH[SHULHQFHGVWURQJJURZWKLQSHUFHQWWKHWRS
performers being the resource-rich countries. Africa’s share of world trade remains at 2.7 per cent. Global port
RSHUDWLQJFRPSDQLHVKDYHVRXJKWWRH[SDQGDORQJWKHPDLQLQWHUQDWLRQDO$IULFDQVKLSSLQJURXWHVKRZHYHULQ
some countries, physical, legal, social and economic constraints have prevented them from doing so effectively.
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and delays are common. This has serious consequences in the case of landlocked countries, whose dependence
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of the need to improve port operations and inland connectivity in the region. Even when new investments are
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JURZWKUDWHUHTXLUHGIRUDFKLHYLQJ
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WKH 8QLWHG 1DWLRQV 0LOOHQQLXP
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'HYHORSPHQW*RDOV
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ORZHULQWKDQLQ+RZHYHU
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A.
ECONOMIC BACKGROUND
159
160
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Growth in Africa, oil vs. non-oil economies, 2006–2008
(in percentages)
7
6
5
4
3
2
1
0
2006
2007
Africa
Source:
Oil economies
2008
Non-oil economies
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7 - Review of Regional Developments: Africa
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Growth of GDP by African subregions 2006–2008
(percentages)
7
6
Growth rate (per cent)
5
4
3
2
1
0
2006
East Africa
Source:
2007
Southern Africa
North Africa
2008
West Africa
Central Africa
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Zimbabwe
Comoros
Eritrea
Chad
Guinea
Somalia
Botswana
Egypt
Malawi
United Republic of Tanzania
Democratic Republic of the Congo
Congo
Ethiopia
Liberia
Equatorial Guinea
Angola
-5
-3
-1
1
3
5
7
9
Annual Growth Rate of GDP
11
13
15
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Africa’s share of world trade, 1970–2007
(percentages)
7
6
5
4
3
2
1
0
1970
1973
1976
1979
1982
1985
Share of world trade
1988
1991
1994
1997
2000
2003
2006
Share of world exports
Source: 81&7$'VHFUHWDULDWEDVHGRQWKH:RUOG(FRQRPLF)RUXPAfrica Competitiveness Report 2009.
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remained low despite
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strong GDP growth rates.
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plays only a minor role in
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Share of intraregional trade in total African trade
(percentages)
Selected
subregions
2006
Share of
Intra-group Group trade
intra-group trade growth growth rate
trade
rate
1996–2006 average
Share of
Intra-group Group total
intra-group trade growth trade growth
trade
rate
rate
Africa
East Africa
Central Africa
North Africa
Southern Africa
West Africa
Source 81&7$'VHFUHWDULDW
164
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Main international shipping lanes, Africa
Iraq
Morocco
Algeria
Mauritania
Mali
Libya
Egypt
Saudi
Arabia
Niger
Chad
Iran
Yemen
Sudan
Nigeria
Ethiopia
Somalia
Kenya
DR Congo
Tanzania
Angola
International shipping lanes
Major
Minor
Mozambique
Zimbabwe
Namibia
Botswana
Global port or
terminal operator
Source:
Zambia
Madagascar
South
Africa
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operations in some countries
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165
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Performance indicators
(days)
Country name
Algeria
Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Central African Republic
Chad
Congo
Côte d’ Ivoire
Democratic Rep. of the Congo
Djibouti
Egypt
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea
Guinea-Bissau
Kenya
Lesotho
Malawi
Mali
Mauritania
Morocco
Mozambique
Namibia
Niger
Nigeria
Rwanda
Senegal
Sierra Leone
South Africa
Sudan
Swaziland
Togo
Tunisia
Uganda
Zambia
Zimbabwe
Averagea
a
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Time to import (days)
2006
2007
2008
Source: :RUOG%DQNDoing Business: Trading Across Borders.
Time to export (days)
2009
2006
2007
2008
2009
166
C.
AFRICAN SHIPPING NETWORKS
AND LINER SHIPPING
CONNECTIVITY IN AFRICA:
A DIFFICULT PATH
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168
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Indicators of African countries’ connectivity in liner shipping
LSCI: World
ranking
Algeria
Angola
Benin
Cameroon
Cape Verde
Comoros
Congo
Côte d'Ivoire
Democratic Republic
of the Congo
Djibouti
Egypt
Equatorial Guinea
Eritrea
Gabon
Gambia
Ghana
Guinea
Guinea-Bissau
Kenya
Liberia
Libyan Arab
Jamahiriya
Madagascar
Mauritania
Mauritius
Morocco
Mozambique
Namibia
Nigeria
Sao Tome and Principe
Senegal
Seychelles
Sierra Leone
Somalia
South Africa
Sudan
Togo
Tunisia
United Republic of
Tanzania
LSCI: Connectivity Index values
2004
2009
2004
2005
2006
2007
2008
2009
Source: 81&7$'VHFUHWDULDWXVLQJGDWDSURYLGHGE\Containerisation International Online.
a
Percentage of direct
country connections
with other african
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Mauritania
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United Republic
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a
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Burden of customs procedures in Africa, 2007
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3.8
3.8
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3
3
3
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Rank/25 a
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Africa
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Latin America and the Caribbean
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FRVWV DUH XQUHOLDEOH WUDQVSRUW FKDLQV high as 50 per cent.
GLPLQLVKLQJWKHYDQGDOLVPRIUDLOURDGV
GXH WR LQDGHTXDWH WUDQVLW SURFHGXUHV
DQG UHGXFLQJ DWWDFNV RQ WUXFNV LQ
RYHUUHJXODWLRQPXOWLSOHFRQWUROVDQG
WUDQVLW
SRRUVHUYLFHV
*RRGVGHVWLQHGIRUODQGORFNHGFRXQWULHVVSHQGWRRPXFK
7KHFRVWRILPSRUWLQJDSSHDUVWREHULVLQJHVSHFLDOO\ WLPHFURVVLQJERUGHUVDQGDUHVXEMHFWWRXQQHFHVVDULO\
LQ ODQGORFNHG FRXQWULHV ¿J $ UHFHQW VWXG\ RQ OHQJWK\ FOHDUDQFH SURFHGXUHV 0XFK RI WKH GHOD\ LV
WKHWUDGLQJFRVWVRIODQGORFNHGFRXQWULHVVXJJHVWVWKDW FDXVHG E\ UHG WDSH DW ERUGHU FOHDUDQFH DV ZHOO DV
LPSURYLQJ WKH FRQGLWLRQ RI URDG LQIUDVWUXFWXUH LV QRW LQHI¿FLHQW DQG FRPSOLFDWHG FXVWRPV SURFHVVHV )RU
VXI¿FLHQW WR HUDGLFDWH LQHI¿FLHQF\ DQG KLJK WUDQVSRUW H[DPSOHFDUJRERXQGIRU.HQ\D¶VLQODQGGHVWLQDWLRQV
FRVWV 7KH PDLQ SUREOHPV DUH DVVRFLDWHG ZLWK SRUW UHPDLQVLQWKHSRUWRI0RPEDVDRQDYHUDJHIRU¿YHGD\V
LQIUDVWUXFWXUH DQG WKH TXDOLW\ RI SRUW VHUYLFHV ZKLFK OHVVWKDQVLPLODUJRRGVWKDWDUHGHVWLQHGIRU8JDQGD7KLV
DIIHFWVWKHSURFHVVRIGLVSDWFKLQJJRRGVRXWRIWUDQVLW LVDOVRWKHFDVHIRUJRRGVWUDQVSRUWHGWRRWKHU//'&V
IURP RWKHU WUDQVLW SRUWV LQ$IULFD$ VWHDG\ UHGXFWLRQ
SRUWV
LQ WKH QXPEHU RI GRFXPHQWV UHTXLUHG IRU LPSRUWV WR
9DULRXVODQGORFNHGFRXQWULHVDUHSODQQLQJWRGHVLJQRU ODQGORFNHG FRXQWULHV LQ (DVW DQG &HQWUDO$IULFD KDV
XSJUDGHUDLOZD\OLQHVFRQQHFWLQJWKHPWRQHLJKERXULQJ EHHQREVHUYHGLQUHFHQW\HDUV¿JKRZHYHUPRUH
SRUWV IRU H[LVWLQJ WUDQVLW FRUULGRUV VHH ¿J )RU ZRUN LV QHHGHG WR UHGXFH WKHVH REVWDFOHV WR WUDGH E\
H[DPSOH UDLOZD\ OLQHV KDYH EHHQ SURSRVHG WR OLQN LPSOHPHQWLQJSROLFLHVWKDWLPSURYHELODWHUDORSHUDWLRQV
WKH 8QLWHG 5HSXEOLF RI 7DQ]DQLD¶V PDLQ SRUW RI 'DU EHWZHHQQHLJKERXULQJFRXQWULHV
HV6DODDP ZLWK %XUXQGL WKH 'HPRFUDWLF 5HSXEOLF RI
WKH&RQJRVRXWKHUQ 6XGDQDQG8JDQGD7KHVHOLQNV ,Q DQG LPSRUW WLPHV ZHUH VKRUWHU IRU
ZLOOPDNHWKH'DUHV6DODDPURXWHFKHDSHUDQGPRUH ODQGORFNHG FRXQWULHV LQ VRXWKHUQ$IULFD WKDQ IRU RWKHU
GLUHFWWKDQWKH0RPEDVDURXWHDQGPD\GLYHUWFDUJR ODQGORFNHG FRXQWULHV HVSHFLDOO\ WKRVH LQ :HVW DQG
WUDQVLWLQJWKURXJK8JDQGDWKHUHE\DIIHFWLQJ8JDQGD¶V &HQWUDO$IULFD¿J,Q(DVW$IULFDQODQGORFNHG
WUDGHVHFWRU7KLVLVZK\8JDQGDSODQVWRLPSURYHLWV FRXQWULHV VLJQLILFDQWO\ UHGXFHG WKH WLPH LW WRRN WR
QHWZRUN FRQQHFWLRQV VR WKDW LWV FXUUHQW UDLO DQG URDG LPSRUW7KHVH GHYHORSPHQWV FRXOG EH DWWULEXWHG WR WKH
QHWZRUN UHPDLQV WKH VKRUWHVW OLQN IURP WKH ,QGLDQ LQWURGXFWLRQRIPHDVXUHVDLPHGDWHQKDQFLQJWUDQVSDUHQF\
176
)LJXUH
Annual average cost of importing a container
US$
3 500
3 000
2 500
2 000
*
1 500
*
*
*
*
*
*
*
*
*
*
*
*
*
1 000
500
*
*
*
*
*
*
*
*
*
*
0
2006
Africa (LLDC)
2007
*
2008
Africa (coastal countries)*
Africa (islands)
2009
*
China
Source :RUOG%DQNDoing Business: Trading Across Borders.
)LJXUH
Main road, rail, sea, lake and river corridors in Africa
Cairo
Djibouti
Bangassou
Abidjan
Lagos
Douata
Berbera
Kampala
Kigali
Mombasa
Dar es
Salaam
Main road, rail,
river, lake and
sea corridors
Source %ROORUp, The Economist.
Cape
Town
2,000 km
United States
177
)LJXUH
Average number of documents required for import
Number of documents
15
13
11
9
7
5
2006
2007
Central Africa
(CC)*
West Africa
(LLDCs)
West Africa
(CC)*
2008
2009
East Africa
(CC)*
Central Africa
(LLDC)
East Africa
(LLDC)
*coastal countries
Source :RUOG%DQNDoing Business: Trading Across Borders.
)LJXUH
Time to import
(days)
90
75
60
45
30
15
West Africa
Central Africa
Southern
Africa
2006
East Africa
and Greater Horn
2007
Source :RUOG%DQN Doing Business: Trading Across Borders.
2008
North Africa
LLDC
Coastal
Coastal
LLDC
Coastal
LLDC
Coastal
LLDC
Coastal
LLDC
Coastal
0
Africa
178
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179
ENDNOTES
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181
Annex I
DEFG
&ODVVL¿FDWLRQRIFRXQWULHVDQGWHUULWRULHV
,'HYHORSHGHFRQRPLHV
&RGH
Bermuda
Canada
Greenland
Saint Pierre and Miquelon
United States of America
&RGH
Austria
Belgium
Bulgaria
Cyprus
Czech Republic
Denmark
Estonia
Faroe Islands
Finland
France
French Guiana
Germany
Gibraltar
Greece
Guadeloupe
Hungary
Iceland
Ireland
Italy
Latvia
Lithuania
Luxembourg
Malta
Martinique
Monaco
Netherlands
Norway
Poland
Portugal
Réunion
Romania
Slovakia
Slovenia
Spain
Sweden
Switzerland
United Kingdom of Great Britain and
Northern Ireland
&RGH
Israel
Japan
&RGH
Australia
New Zealand
&RGH
,Q(XURSH
Albania
Belarus
Bosnia and Herzegovina
Croatia
Montenegro
Republic of Moldova
Russian Federation
Serbia
The former Yugoslav Republic of
Macedonia
Ukraine
&RGH
,Q$VLD
Armenia
Azerbaijan
Georgia
Kazakhstan
Kyrgyzstan
Tajikistan
Turkmenistan
Uzbekistan
,,7UDQVLWLRQHFRQRPLHV
182
5HYLHZRI0DULWLPH7UDQVSRUW
Annex I (continued)
,,,'HYHORSLQJHFRQRPLHV
&RGH
1RUWK$IULFD
Algeria
Egypt
Libyan Arab Jamahiriya
Morocco
Tunisia
&RGH
:HVWHUQ$IULFD
Benin
Burkina Faso
Cape Verde
Côte d’Ivoire
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Mauritania
Niger
Nigeria
Saint Helena
Senegal
Sierra Leone
Togo
&RGH
(DVWHUQ$IULFD
Burundi
Comoros
Djibouti
Ethiopia
Eritrea
Kenya
Madagascar
Malawi
Mauritius
Mozambique
Rwanda
Seychelles
Somalia
Sudan
Uganda
Zambia
Zimbabwe
&RGH
&HQWUDO$IULFD
Angola
Cameroon
Central African Republic
Chad
Congo
Equatorial Guinea
Gabon
&RGH
6RXWKHUQ$IULFD
Botswana
Lesotho
Namibia
South Africa
Swaziland
&RGH
&DULEEHDQ
Anguilla
Antigua and Barbuda
Aruba
Bahamas
Barbados
British Virgin Islands
Cayman Islands
Cuba
Dominica
Dominican Republic
Grenada
Haiti
Jamaica
Montserrat
Saint Lucia
Trinidad and Tobago
Turks and Caicos Islands
United States Virgin Islands
$QQH[,&ODVVL¿FDWLRQRIFRXQWULHVDQGWHUULWRULHV
Annex I (continued)
&RGH
&HQWUDO$PHULFD
Belize
Costa Rica
El Salvador
Guatemala
Honduras
Mexico
Nicaragua
Panama
&RGH
6RXWK$PHULFD±
1RUWKHUQ6HDERDUG
Guyana
Suriname
Venezuela, (Bolivarian Republic of)
&RGH
6RXWK$PHULFD±
:HVWHUQ6HDERDUG
Chile
Colombia
Ecuador
Peru
&RGH
6RXWK$PHULFD±
(DVWHUQ6HDERDUG
Argentina
Bolivia (Plurinational State of)
Brazil
Falkland Islands (Malvinas) e
Paraguay
Uruguay
&RGH
:HVWHUQ$VLD
Bahrain
Iraq
Jordan
Kuwait
Lebanon
Oman
Qatar
Saudi Arabia
Syrian Arab Republic
Turkey
Yemen
&RGH
6RXWKHUQ$VLD
Afghanistan
Bangladesh
Bhutan
India
Iran (Islamic Republic of)
Maldives
Nepal
Pakistan
Sri Lanka
&RGH
(DVWHUQ$VLD
China
Democratic People’s Republic of
Korea
Hong Kong, China
Macao, China
Mongolia
Republic of Korea
&RGH
6RXWK(DVWHUQ$VLD
Brunei Darussalam
Cambodia
Indonesia
Lao People’s Democratic Republic
Malaysia
Myanmar
Philippines
Thailand
Timor-Leste
Singapore
Viet Nam
&RGH
2FHDQLD
American Samoa
Christmas Island (Australia)
Fiji
French Polynesia
Guam
Kiribati
Marshall Islands
Nauru
New Caledonia
Papua New Guinea
Samoa
Solomon Islands
Tonga
Tuvalu
Vanuatu
Wake Islands
183
184
1RWHVWR$QQH[,
a
7KLV FODVVL¿FDWLRQ LV IRU VWDWLVWLFDO SXUSRVHV RQO\ DQG GRHV QRW LPSO\ DQ\ MXGJHPHQW UHJDUGLQJ WKH VWDJH RI
development or the political situation of any country or territory.
b
The following are groups of countries or territories used for presenting statistics in this Review:
'HYHORSHG(FRQRPLHV: Codes 1, 2, 3 and 4
7UDQVLWLRQ(FRQRPLHV: Codes 5.1 and 5.2
'HYHORSLQJ(FRQRPLHV: Codes 6, 7, 8 and 9
of which:
in Africa:
Codes 6.1, 6.2, 6.3, 6.4 and 6.5
in America:
Codes 7.1, 7.2, 7.3, 7.4 and 7.5
in Asia:
Codes 8.1, 8.2, 8.3 and 8.4
in Oceania:
Code 9
c
In certain tables, where appropriate, open-registry countries are recorded in a separate group.
d
Trade statistics are based on data recorded at the ports of loading and unloading. Trade originating in or destined
for neighbouring countries is attributed to the country in which the ports are situated; for this reason, landlocked
FRXQWULHVGRQRW¿JXUHLQWKHVHWDEXODWLRQV2QWKHRWKHUKDQGVWDWLVWLFDOWDEXODWLRQVRQPHUFKDQWÀHHWVLQFOXGH
GDWDIRUODQGORFNHGFRXQWULHVWKDWSRVVHVVÀHHWV
e
A dispute exists between the Governments of Argentina and the United Kingdom of Great Britain and Northern Ireland
concerning sovereignty over the Falkland Islands (Malvinas).
185
Annex II - World seaborne trade by country groups
Annex II
World seaborne tradea by country groups
(In millions of tons)
Area a
Year
Goods loaded
Oil
Crude
Products b
Total
Dry
goods
cargo
loaded
Goods unloaded
Oil
Total
Dry
goods
Crude
Products b
cargo
unloaded
Developed economies
North America
2006
22.2
86.4
436.8
545.4
511.0
155.7
492.1
1 158.7
Code 1
2007
23.9
91.8
519.7
635.5
513.5
156.1
453.1
1 122.7
2008
24.3
91.5
544.8
660.6
453.9
148.1
492.6
1 094.5
Europe
2006
100.9
235.8
768.6
1 105.2
535.6
281.9
1 245.2
2 062.7
Code 2
2007
96.9
253.3
779.6
1 129.8
492.2
262.2
1 154.7
1 909.2
2008
79.3
269.7
839.3
1 188.3
483.4
251.0
1 188.5
1 922.8
Japan and Israel
2006
0.0
10.0
153.1
163.1
210.3
84.4
559.6
854.3
Code 3
2007
0.0
14.4
164.2
178.7
213.3
88.5
560.9
862.6
2008
0.0
10.0
162.7
172.7
215.2
92.7
597.0
904.8
Australia and New Zealand
2006
9.9
4.2
632.7
646.8
26.2
13.5
50.2
90.0
Code 4
2007
13.3
4.0
662.3
679.6
27.0
17.3
51.7
96.0
2008
13.3
4.1
703.0
720.5
28.4
19.1
59.0
106.6
2006
132.9
336.4
1 991.3
2 460.5 1 283.0
535.5
2 347.2
4 165.7
2007
134.2
363.5
2 125.8
2 623.6 1 246.0
524.0
2 220.5
3 990.5
2008
116.9
375.4
2 249.7
2 742.0 1 180.8
510.8
2 337.1
4 028.7
Economies in transition
2006
123.1
41.3
245.9
410.3
5.6
3.1
61.9
70.6
Codes 5.1 and 5.2
2007
124.4
39.9
253.7
417.9
7.3
3.5
66.0
76.8
2008
133.4
33.9
312.8
480.2
6.3
4.5
77.4
88.1
North Africa
2006
117.4
63.8
77.2
258.5
6.0
13.3
142.0
161.3
Code 6.1
2007
116.1
61.8
83.2
261.1
7.5
14.6
155.4
177.4
Subtotal: Developed economies
2008
116.6
61.3
78.3
256.2
7.7
15.1
144.2
166.9
Western Africa
2006
110.6
12.6
31.1
154.3
5.4
14.2
62.4
82.0
Code 6.2
2007
110.1
10.3
34.5
155.0
7.6
17.1
55.5
80.2
2008
99.1
11.9
34.3
145.3
7.6
16.0
65.6
89.3
Eastern Africa
2006
11.8
1.1
19.7
32.6
1.9
8.2
25.6
35.7
Code 6.3
2007
13.6
1.2
19.9
34.7
2.0
9.3
27.9
39.2
2008
11.6
1.4
21.6
34.6
1.9
9.7
28.4
39.9
Central Africa
2006
114.0
2.6
6.3
122.8
2.2
1.7
7.3
11.2
Code 6.4
2007
122.7
2.6
7.8
133.1
2.8
1.9
7.7
12.3
2008
131.5
3.1
6.4
141.0
3.0
1.7
8.4
13.1
Southern Africa
2006
0.0
5.9
129.9
135.8
25.6
2.6
39.1
67.4
Code 6.5
2007
0.0
5.9
129.9
135.8
25.6
2.6
39.1
67.4
2008
0.0
6.1
135.6
141.6
22.1
2.7
43.7
68.5
2006
353.8
86.0
264.2
704.0
41.1
39.9
276.5
357.5
2007
362.5
81.8
275.3
719.6
45.5
45.5
285.6
376.6
2008
358.8
83.7
276.2
718.7
42.2
45.2
290.3
377.7
Subtotal: Developing Africa
186
Annex II (continued)
Area a
Year
Goods loaded
Oil
Crude
Products b
Total
Dry
goods
cargo
loaded
Goods unloaded
Total
Oil
Crude
Dry
goods
Products b
cargo
unloaded
Caribbean and Central America
2006
108.4
34.6
73.5
216.6
18.5
42.1
101.5
162.2
Codes 7.1 and 7.2
2007
100.4
32.4
75.2
208.1
38.8
44.5
103.1
186.5
2008
92.3
36.4
80.1
208.8
39.2
45.5
102.1
186.8
South America: northern
2006
110.8
49.1
499.5
659.4
16.9
10.3
119.1
146.4
and eastern seaboard
2007
120.2
47.2
541.0
708.4
19.9
10.8
132.4
163.1
Codes 7.3 and 7.5
2008
132.3
51.8
563.5
747.6
20.4
10.9
132.9
164.2
South America:
2006
32.1
10.2
112.4
154.8
14.1
7.7
45.9
67.8
2007
31.6
10.5
118.3
160.4
17.2
8.7
47.5
73.4
western seaboard
Code 7.4
2008
33.9
12.0
133.3
179.3
19.2
9.0
53.5
81.7
Subtotal: Developing America
2006
251.3
93.9
685.5
1 030.7
49.6
60.1
266.6
376.3
2007
252.3
90.1
734.5
1 076.8
76.0
64.0
283.0
423.0
2008
258.6
100.1
776.9
1 135.6
78.8
65.4
288.5
432.8
Western Asia
2006
723.1
126.2
182.8
1 032.2
27.0
50.3
282.4
359.7
Code 8.1
2007
751.5
120.4
188.8
1 060.7
34.4
51.2
330.8
416.4
2008
758.9
122.3
194.2
1 075.5
36.1
54.2
350.2
440.4
Southern and Eastern Asia
2006
132.3
102.5
927.6
1 162.3
313.4
104.0
1 421.0
1 838.4
Codes 8.2 and 8.3
2007
128.1
104.7
964.2
1 197.0
455.0
106.9
1 598.1
2 160.1
2008
132.0
103.4
972.9
1 208.2
414.1
115.8
1 685.6
2 215.5
South-Eastern Asia
2006
62.3
78.7
597.2
738.2
113.5
95.3
330.1
538.8
Code 8.4
2007
56.4
90.7
632.3
779.4
130.8
104.0
369.6
604.5
2008
70.9
96.4
633.2
800.5
133.0
107.0
340.7
580.7
2006
917.6
307.5
1 707.7
2 932.7
453.9
249.6
2 033.5
2 737.0
2007
936.0
315.7
1 785.3
3 037.0
620.2
262.2
2 298.6
3 181.0
2008
961.8
322.1
1 800.3
3 084.2
583.2
277.0
2 379.4
3 239.7
Developing Oceania
2006
4.4
0.1
2.4
6.8
0.0
6.7
6.2
12.9
Code 9
2007
4.5
0.1
2.5
7.1
0.0
7.0
6.5
13.5
Subtotal: Developing Asia
2008
4.6
0.1
2.5
7.3
0.0
7.1
6.6
13.8
2006
1 527.0
487.5
2 659.7
4 674.2
544.6
356.4
2 582.8
3 483.7
economies
2007
1 555.3
487.8
2 797.5
4 840.6
741.7
378.7
2 873.6
3 994.1
and territories
2008
1 583.8
506.1
2 856.0
4 945.8
704.3
394.7
2 964.9
4 063.9
2006
1 783.0
865.2
4 896.9
7 545.0 1 833.2
895.0
4 991.9
7 720.1
2007
1 813.9
891.1
5 177.1
7 882.0 1 995.0
906.2
5 160.1
8 061.3
2008
1 834.1
915.3
5 418.6
8 168.0 1 891.4
910.0
5 379.4
8 180.7
Subtotal: Developing
World total
Source:
Compiled by the UNCTAD secretariat on the basis of data supplied by reporting countries, ports and specialized
sources and published on ports' websites. Data updated to most recent available and as revised at the source.
a
See annex I for the composition of groups.
b
Including LNG, LPG, naphtha, gasoline, jet fuel, kerosene, light oil, heavy fuel oil and others.
187
$QQH[,,,D0HUFKDQWÀHHWVRIWKHZRUOGLQWKRXVDQGVRI*7
Annex III (a)
0HUFKDQWÀHHWVRIWKHZRUOGE\ÀDJVRIUHJLVWUDWLRQaJURXSVRIFRXQWULHVDQGW\SHVRIVKLSE
DVRI-DQXDU\
(In thousands of GT)
7RWDOÀHHW
DEVELOPING ECONOMIES OF AFRICA
Algeria
748
Angola
59
Benin
1
Cameroon
17
Cape Verde
29
Comoros
757
Congo
4
Côte d'Ivoire
9
14
Djibouti
4
Egypt
1 070
Equatorial Guinea
27
Eritrea
13
Ethiopia
118
Gabon
14
Gambia
35
Ghana
117
Guinea
20
Guinea-Bissau
7
Kenya
15
276
Madagascar
33
Mauritania
52
Mauritius
41
Morocco
495
Mozambique
38
Namibia
122
Nigeria
612
Saint Helena
4
23
Senegal
46
Seychelles
207
Sierra Leone
612
Somalia
6
South Africa
195
Sudan
26
Togo
75
Tunisia
142
41
6 122
Total
2LO
WDQNHUV
%XON
FDUULHUV
*HQHUDO
FDUJRc
&RQWDLQHU
VKLSV
Other
W\SHV
17
5
0
0
3
90
0
1
1
0
201
1
2
0
1
4
3
0
0
5
195
5
0
0
9
0
0
402
0
1
0
120
36
1
5
1
5
16
9
121
0
0
0
0
161
0
0
0
0
388
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
10
0
4
0
0
25
0
0
0
14
17
0
45
12
0
2
9
378
0
0
0
0
259
2
10
118
4
27
13
1
1
0
33
12
1
14
26
6
3
12
0
15
1
43
411
2
0
22
41
5
21
0
0
0
0
0
13
0
0
0
0
54
0
0
0
0
0
0
0
0
0
0
0
0
0
82
0
0
0
0
0
0
0
12
0
27
0
0
0
0
565
42
1
14
18
114
4
8
12
4
168
24
1
0
9
4
101
19
5
10
48
15
51
28
377
32
120
188
4
4
45
44
128
4
163
3
15
104
11
1 1138
740
1 549
189
2 506
188
Annex III (a) (continued)
7RWDOÀHHW
2LO
WDQNHUV
%XON
FDUULHUV
*HQHUDO
FDUJRc
&RQWDLQHU
VKLSV
Other
W\SHV
DEVELOPING ECONOMIES OF AMERICA
Anguilla
Argentina
Aruba
Barbados
Belize
Brazil
Cayman Islands
Chile
Colombia
Costa Rica
Cuba
Dominica
Dominican Republic
Ecuador
El Salvador
Falkland Islands d
Grenada
Guatemala
Guyana
Haiti
Honduras
Jamaica
Mexico
Nicaragua
Paraguay
Peru
Suriname
Trinidad and Tobago
Uruguay
Venezuela (Bolivarian Republic of)
Total
DEVELOPING ECONOMIES OF ASIA
Bahrain
Bangladesh
Brunei Darussalam
Cambodia
China
1
785
0
725
1 215
75
2 359
2 978
863
91
4
60
1 018
10
318
7
48
3
4
41
2
705
218
1 279
1 564
7
54
285
939
6
54
1
109
1 016
16
0
340
0
160
29
21
984
1 296
240
5
0
15
308
0
190
0
0
0
0
5
0
120
0
608
99
1
3
59
118
2
4
0
8
487
0
0
69
0
233
186
4
506
931
187
0
0
6
541
0
0
0
0
0
0
0
0
63
126
53
81
0
0
0
293
0
0
0
0
147
0
1
71
0
241
714
36
242
540
122
39
0
9
100
5
6
0
1
1
0
23
2
247
47
43
1 100
0
40
25
443
3
3
0
9
46
1
0
13
0
0
3
0
210
0
17
0
0
0
0
0
0
0
0
0
0
0
0
2
40
0
81
0
6
0
2
0
0
0
0
0
0
0
292
0
91
283
14
417
210
297
47
4
30
69
5
122
7
47
2
3
14
0
273
5
575
203
5
5
200
83
1
47
1
92
336
16
16 859
5 102
3 428
4 160
373
3 796
498
440
494
2 096
26 811
81
64
1
54
4 765
58
52
13
357
11 364
1
254
3
1 533
4 808
247
35
0
19
3 869
111
35
478
133
2 006
189
7RWDOÀHHW
2LO
WDQNHUV
%XON
FDUULHUV
*HQHUDO
FDUJRc
39 100
8 776
19 587
2 552
7 447
739
India
9 283
4 793
2 513
510
268
1 200
Indonesia
5 810
1 365
647
2 023
463
1 313
1 096
80
347
287
167
216
Iraq
159
48
0
39
0
72
Jordan
285
139
0
55
14
77
Korea, Democratic People's Republic of
983
98
132
632
22
99
14 145
1 617
8 261
1 276
1 515
1 475
2 366
1 754
23
98
269
221
Hong Kong (China)
Korea, Republic of
Kuwait
Lao People's Democratic Republic
&RQWDLQHU
VKLSV
Other
W\SHV
0
0
0
0
0
0
141
1
34
103
0
3
2
0
0
0
0
2
Malaysia
7 078
2 692
279
472
704
2 932
Maldives
144
9
1
121
0
12
Mongolia
669
17
393
235
0
23
Myanmar
166
3
14
119
0
29
26
1
0
2
0
23
409
218
36
130
0
25
5 029
411
2 404
1 338
208
668
Lebanon
Macao (China)
Oman
Pakistan
Philippines
Qatar
903
302
37
1
335
227
1 350
527
0
271
204
347
Singapore
39 886
17 342
7 374
3 834
7 933
3 403
Sri Lanka
174
10
45
85
12
22
Saudi Arabia
317
1
26
277
8
5
2 672
759
1 223
108
375
207
Thailand
2 842
416
877
1 057
252
241
1
0
0
0
0
1
5 181
794
2 010
1 513
425
438
Timor-Leste
Turkey
1 075
404
55
78
345
192
Viet Nam
2 993
762
591
1 306
99
235
30
11
0
6
0
13
Total
174 658
DEVELOPING ECONOMIES OF OCEANIA
48 316
58 754
25 127
25 237
17 223
Yemen
American Samoa
25
0
0
0
0
25
Fiji
33
0
0
9
0
24
French Polynesia
55
0
0
30
0
26
3
0
0
0
0
3
Guam
Kiribati
270
30
92
124
0
23
New Caledonia
10
0
0
2
0
8
Papua New Guinea
90
4
5
65
0
16
190
7RWDOÀHHW
Samoa
10
Solomon Islands
11
Tonga
68
Tuvalu
1 052
Vanuatu
2 065
3 693
Total
201 332
DEVELOPING ECONOMIES TOTAL
DEVELOPED ECONOMIES
Australia
1 828
Austria
14
Belgium
4 242
Bulgaria
876
Canada
2 962
Denmark
10 536
Estonia
363
Finland
1 565
France
6 245
French Guyana
1
Germany
15 283
Greece
36 822
Guadeloupe
7
Iceland
169
Ireland
186
Israel
437
Italy
13 600
Japan
13 536
Latvia
290
Lithuania
424
Luxembourg
730
Martinique
1
Netherlands
6 684
New Zealand
388
Norway
18 311
Poland
213
Portugal
1 096
Reunion
5
Romania
262
Slovakia
190
Slovenia
2
Spain
3 055
Saint Pierre and Miquelon
1
Sweden
4 389
Switzerland
640
2LO
WDQNHUV
%XON
FDUULHUV
*HQHUDO
FDUJRc
&RQWDLQHU
VKLSV
Other
W\SHV
0
0
1
655
95
0
0
6
174
938
8
2
47
116
346
0
0
0
9
25
2
8
14
98
661
785
55 341
1 214
64 136
750
31 587
35
25 833
908
24 434
246
0
1 124
18
533
2 566
5
363
2 591
0
517
20 881
0
0
13
3
3 806
2 123
62
3
160
0
365
54
6 565
7
279
0
30
0
0
562
0
534
46
408
0
1 483
595
1 237
339
0
26
176
0
418
10 667
0
0
0
0
2 265
2 910
0
0
178
0
3
12
2 334
0
113
0
0
10
0
27
0
26
325
149
10
320
153
102
446
16
494
105
0
416
371
1
1
95
4
2 283
2 663
46
230
127
0
2 607
146
4 443
40
324
0
76
178
0
317
0
2 622
82
7
4
116
54
16
5 851
0
29
1 626
0
13 233
2 577
0
0
5
422
958
486
0
13
33
0
1 654
7
5
0
32
0
0
0
0
226
0
0
170
1 017
0
1 199
56
1 073
1 333
343
654
1 748
0
699
2 326
6
167
72
9
4 288
5 354
182
178
232
1
2 054
168
4 964
165
348
5
156
1
2
1 923
1
1 208
17
191
7RWDOÀHHW
United Kingdom
United States
DEVELOPED ECONOMIES Total
TRANSITION ECONOMIES
Albania
Azerbaijan
Croatia
Georgia
Kazakhstan
Moldova (Republic of)
Montenegro
Russian Federation
Turkmenistan
Ukraine
TRANSITION ECONOMIES Total
0$-2523(1$1'
INTERNATIONAL REGISTRIES
Antigua and Barbuda
Bahamas
Bermuda
Cyprus
Isle of Man
Liberia
Malta
Marshall Islands
Panama
MAJOR 10 OPEN AND
INTERNATIONAL
REGISTRIES Total
8QNQRZQÀDJ
WORLD TOTAL e
2LO
WDQNHUV
%XON
FDUULHUV
*HQHUDO
FDUJRc
&RQWDLQHU
VKLSV
Other
W\SHV
16 855
11 237
3
173 447
1 448
2 215
0
47 122
1 594
1 194
0
26 341
2 457
1 585
0
22 909
7 908
3 114
0
38 547
3 447
3 129
3
38 528
66
726
1 445
678
60
179
14
7 527
54
1 087
11 836
0
240
569
20
29
10
0
1 277
6
32
2 184
0
0
638
97
0
38
0
445
0
83
1 302
64
109
97
478
3
122
12
2 876
17
591
4 368
0
0
0
11
0
4
0
122
0
29
166
2
377
141
71
28
4
2
2 807
30
353
3 815
9 537
46 543
9 592
20 109
8 965
82 389
31 633
42 637
183 503
5 203
16
16 983
1 312
4 944
5 137
32 010
10 862
19 978
36 945
210
826
7 388
1 776
8 437
1 590
15 817
13 355
11 466
77 912
1 822
3 195
7 157
101
1 569
361
3 973
3 639
1 556
24 176
2 499
5 413
1 739
770
3 954
160
25 641
1 878
4 484
30 763
150
87
13 276
5 634
1 206
1 716
4 948
1 899
5 153
13 708
522
440 113
3 932
830 660
128 396
612
233 656
140 389
497
232 665
48 227
1 312
108 403
74 953
43
139 542
48 149
1 467
116 393
193
$QQH[,,,E0HUFKDQWÀHHWVRIWKHZRUOGLQWKRXVDQGVRIGZW
Annex III (b)
0HUFKDQWÀHHWVRIWKHZRUOGE\ÀDJVRIUHJLVWUDWLRQaJURXSVRIFRXQWULHVDQGW\SHVRIVKLSE
DVRI-DQXDU\
(In thousands of dwt)
7RWDOÀHHW
Algeria
Angola
Benin
Cameroon
Cape Verde
Comoros
Congo
Côte d'Ivoire
Djibouti
Egypt
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea
Guinea-Bissau
Kenya
Madagascar
Mauritania
Mauritius
Morocco
Mozambique
Namibia
Nigeria
Saint Helena
Senegal
Seychelles
Sierra Leone
Somalia
South Africa
Sudan
Togo
Tunisia
Total
2LO
WDQNHUV
%XON
FDUULHUV
*HQHUDO
FDUJRc
&RQWDLQHU
VKLSV
Other
W\SHV
755
51
0
10
22
978
1
5
17
1
1540
16
14
150
8
12
86
10
2
14
425
30
25
37
346
30
73
897
1
29
19
287
754
5
125
29
98
83
43
25
8
0
0
4
156
0
1
2
0
347
2
3
0
1
5
5
0
0
8
358
7
0
0
14
0
0
673
0
1
0
199
60
2
9
1
8
24
16
204
0
0
0
0
251
0
0
0
0
679
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
13
0
7
0
0
39
0
0
0
25
26
0
55
15
0
3
12
472
0
0
1
0
302
2
10
150
4
5
16
0
0
0
39
16
1
12
24
11
2
19
0
19
2
56
548
1
0
26
57
7
25
0
0
0
0
0
17
0
0
0
0
63
0
0
0
0
0
0
0
0
0
0
0
0
0
83
0
0
0
0
0
0
0
17
0
30
0
0
0
0
471
27
0
6
5
83
1
4
14
1
150
12
1
0
4
2
65
10
2
6
28
7
24
26
224
19
71
191
1
2
17
32
90
3
86
1
9
25
2
7 028
1 938
1 245
1 913
210
1 723
194
Annex III (b) (continued)
7RWDOÀHHW 2LOWDQNHUV
Anguilla
1
Argentina
1 066
Aruba
0
Barbados
1 003
Belize
1 389
102
Brazil
3 423
11
Cayman Islands
4 314
Chile
1 049
Colombia
113
Costa Rica
0
Cuba
77
Dominica
1 786
Dominican Republic
7
Ecuador
399
El Salvador
2
d
Falkland Islands
35
Grenada
1
Guatemala
3
Guyana
41
Haiti
2
Honduras
791
Jamaica
310
Mexico
1 629
2 027
Nicaragua
3
Paraguay
62
Peru
225
1 334
Suriname
7
Trinidad and Tobago
19
0
Uruguay
70
Venezuela (Bolivarian Republic of)
1 503
Total
22 805
Bahrain
596
Bangladesh
616
Brunei Darussalam
445
Cambodia
2 785
China
39 998
Democratic People's Republic of Korea
1 390
Hong Kong (China)
64 183
Other
W\SHV
%XON
FDUULHUV
*HQHUDO
FDUJRc
0
590
0
247
44
33
1 585
0
2 217
398
8
0
25
544
0
327
0
0
0
1
7
0
216
0
1 005
172
1
4
98
182
3
4
0
11
837
0
116
0
386
286
7
863
0
1 553
316
0
0
9
1 019
0
0
0
0
0
0
0
0
108
208
89
148
0
0
0
489
0
0
0
0
244
1
101
0
298
827
48
284
1
256
94
55
0
13
142
6
6
0
1
1
0
28
2
328
50
32
1 319
1
50
37
610
3
0
0
12
63
0
18
0
0
3
0
266
0
0
21
0
0
0
0
0
0
0
0
0
0
0
0
2
51
0
102
0
6
0
2
0
0
0
0
0
0
241
0
72
231
14
425
10
288
220
50
0
31
81
1
66
2
34
0
2
7
0
136
1
503
287
1
1
91
52
1
14
0
47
358
8 558
5 841
4 669
472
3 265
154
111
1
84
8 091
165
15 769
85
89
20
562
19 583
219
35 779
2
344
3
2 036
6 281
902
3 341
271
48
0
25
4 628
30
8 570
83
23
421
78
1 415
75
724
&RQWDLQHU
VKLSV
195
India
Indonesia
Iraq
Jordan
Korea, Republic of
Kuwait
Lao People's Democratic Republic
Lebanon
Macao (China)
Malaysia
Maldives
Mongolia
Myanmar
Oman
Pakistan
Philippines
Qatar
Saudi Arabia
Singapore
Sri Lanka
Thailand
Timor-Leste
Turkey
Viet Nam
Yemen
%XON
FDUULHUV
*HQHUDO
FDUJRc
&RQWDLQHU
VKLSV
Other
W\SHV
15 300
7 025
1 515
202
396
22 600
3 865
2
155
2
9 391
192
1 011
193
14
671
6 750
1 206
1 667
60 798
245
453
4 246
4 218
0
7 476
1 410
4 663
27
8 629
2 192
120
78
293
2 890
3 219
0
1
0
4 796
19
30
5
2
396
658
546
881
31 118
18
2
1 296
730
0
1 391
685
1 248
17
4 334
1 061
600
0
0
15 142
39
0
54
0
477
2
659
24
0
66
3 819
59
0
13 653
75
41
2 238
1 446
0
3 429
88
980
0
686
2 594
367
54
64
1 653
86
2
97
0
572
164
304
151
2
184
1 637
0
271
2 786
120
399
147
1 503
0
1 888
88
2 053
3
328
609
225
0
18
1 766
292
0
0
0
858
0
0
0
0
0
239
366
221
9 429
17
8
468
339
0
530
378
133
0
1 324
570
203
70
21
1 149
229
0
3
2
2 688
8
18
14
11
26
396
235
294
3 812
15
2
96
201
0
238
172
250
6
DEVELOPING ECONOMIES OF ASIA Total
265 709
American Samoa
2
Fiji
16
French Polynesia
35
Guam
2
Kiribati
401
New Caledonia
5
Papua New Guinea
103
Samoa
10
Solomon Islands
6
Tonga
74
Tuvalu
1 803
Vanuatu
2 593
DEVELOPING ECONOMIES OF OCEANIA Total
5 051
300 594
DEVELOPING ECONOMIES Total
85 634
104 622
30 783
29 798
14 873
0
0
0
0
48
0
3
0
0
2
1 207
191
1 451
97 580
0
0
0
0
172
0
6
0
0
7
318
1 535
2 039
113 746
0
7
28
0
169
3
83
9
2
57
169
223
749
38 115
0
0
0
0
0
0
0
0
0
0
13
29
41
30 521
2
9
7
2
11
2
12
1
5
9
96
615
771
20 632
196
%XON
FDUULHUV
*HQHUDO
FDUJRc
&RQWDLQHU
VKLSV
Other
W\SHV
DEVELOPED ECONOMIES
Australia
Austria
Belgium
Bulgaria
Canada
Denmark
Estonia
Finland
France
French Guyana
Germany
Greece
Guadeloupe
Iceland
Ireland
Israel
Italy
Japan
Latvia
Lithuania
Luxembourg
Martinique
Netherlands
New Zealand
Norway
Poland
Portugal
Reunion
Romania
Slovakia
Slovenia
Spain
Sweden
Switzerland
United Kingdom of Great Britain
and Northern Ireland
DEVELOPED ECONOMIES Total
2 146
18
6 631
1 243
3 419
12 668
95
1 219
7 917
0
17 949
63 036
5
71
193
533
14 415
15 417
248
370
964
1
6 815
361
23 541
136
1 146
2
263
252
0
2 711
2 513
1 012
426
0
2 150
26
879
4 239
9
609
4 744
0
850
38 750
0
0
18
5
6 279
3 896
103
4
249
0
567
85
11 494
11
503
0
48
0
0
1 025
789
68
649
0
2 896
953
1 900
652
0
38
346
0
828
19 913
0
1
0
0
4 223
5 121
0
0
315
0
6
17
4 149
0
189
0
0
15
0
43
36
577
140
12
218
165
93
389
20
404
58
0
474
418
2
1
140
5
1 410
2 473
44
284
83
1
3 222
164
3 517
33
255
0
91
235
0
221
1 395
106
10
6
145
64
17
6 514
0
37
1 797
0
15 439
2 832
0
0
7
518
1 065
511
0
18
40
0
1 905
8
7
0
41
0
0
0
0
287
0
236
922
0
1 222
36
530
874
67
131
972
0
358
1 122
4
69
27
5
1 439
3 415
101
65
277
0
1 115
87
4 373
92
158
2
124
1
0
1 135
293
25
18 092
11 961
1
2 276
3 769
0
2 982
2 271
0
1 885
855
0
9 043
3 325
0
1 906
1 742
1
217 365
83 874
48 120
18 812
43 870
22 689
197
%XON
FDUULHUV
*HQHUDO
FDUJRc
&RQWDLQHU
VKLSV
0
0
1 130
159
0
56
0
623
0
134
2 103
91
118
114
662
2
162
14
3 243
15
672
5 092
0
0
0
16
0
6
0
126
0
27
176
1
177
35
44
21
5
1
1 297
23
205
1 810
1 332
13 043
3 438
15 009
3 035
28 372
23 943
20 852
141 357
3 209
4 121
6 724
113
1 945
406
3 708
4 181
1 693
18 842
3 243
6 875
1 942
813
4 774
206
30 372
2 294
5 487
34 345
188
101
9 033
3 497
738
1 708
5 815
873
4 188
12 591
367
253 589
44 978
87 296
38 910
798
1 885
56
854
Other
W\SHV
TRANSITION ECONOMIES
Albania
92
0
Azerbaijan
635
339
Croatia
2 344
1 064
Georgia
915
35
Kazakhstan
73
50
Moldova, Republic of
248
19
Montenegro
15
0
Russian Federation
7 140
1 851
Turkmenistan
47
8
Ukraine
1 092
53
12 601
3 420
TRANSITION ECONOMIES Total
0$-2523(1$1',17(51$7,21$/5(*,675,(6
Antigua and Barbuda
12 455
26
Bahamas
62 013
31 271
Bermuda
10 298
2 437
Cyprus
31 388
8 922
Isle of Man
14 516
9 160
Liberia
125 993
57 726
Malta
50 666
19 374
Marshall Islands
68 451
36 231
Panama
273 961
66 826
7 400
394
MAJOR 10 OPEN AND
657 141
232 368
INTERNATIONAL REGISTRIES Total
8QNQRZQÀDJ
4 617
1 024
WORLD TOTAL
e
Notes to Annex III
Source:
Lloyd’s Register–Fairplay.
7KHGHVLJQDWLRQVHPSOR\HGDQGWKHSUHVHQWDWLRQRIPDWHULDOLQWKLVWDEOHUHIHUWRÀDJVRIUHJLVWUDWLRQDQGGRQRW
imply the expression of any opinion by the Secretariat of the United Nations concerning the legal status of any
a
country or territory, or of its authorities, or concerning the delimitation of its frontiers.
b
6KLSVRI*7DQGRYHUH[FOXGLQJWKH*UHDW/DNHVÀHHWVRIWKH8QLWHG6WDWHVDQG&DQDGDDQGWKH8QLWHG6WDWHV
Reserve Fleet.
c
Including passenger/cargo.
d
A dispute exists between the Governments of Argentina and the United Kingdom of Great Britain and Northern Ireland
concerning sovereignty over the Falkland Islands (Malvinas).
e
([FOXGLQJHVWLPDWHVRIWKH8QLWHG6WDWHV5HVHUYH)OHHWDQGWKH8QLWHG6WDWHVDQG&DQDGLDQ*UHDW/DNHVÀHHWV
199
Annex IV - UNCTAD Liner Shipping Connectivity Index
Annex IV
UNCTAD Liner Shipping Connectivity Index
Rank
2009
Index points
Albania
Algeria
American Samoa
Angola
Antigua and Barbuda
Argentina
Aruba
Australia
Bahamas, The
Bahrain
Bangladesh
Barbados
Belgium
Belize
Benin
Bermuda
Brazil
Brunei Darussalam
Bulgaria
Cambodia
Cameroon
Canada
Cape Verde
Cayman Islands
Chile
China
Colombia
Comoros
Congo
Costa Rica
Côte d'Ivoire
Croatia
Cuba
Cyprus
Czech Republic
Democratic Republic
of the Congo
Denmark
Djibouti
Dominica
Dominican Republic
Ecuador
Egypt
El Salvador
Equatorial Guinea
Eritrea
Estonia
Faeroe Islands
Fiji
Finland
France
French Polynesia
Gabon
Gambia
Georgia
Germany
Ghana
2004
2005
2006
2007
2008
2009
Average annual
growth
2004 – 2008
Growth
2009/2008
0.40
10.00
5.17
9.67
2.33
20.09
7.37
26.58
17.49
5.39
5.20
5.47
73.16
2.19
10.13
1.54
25.83
3.91
6.17
3.89
10.46
39.67
1.90
1.90
15.48
100.00
18.61
6.07
8.29
12.59
14.39
8.58
6.78
14.39
0.44
0.40
9.72
5.30
10.46
2.56
24.95
7.52
28.02
15.70
4.34
5.07
5.77
74.17
2.59
10.23
1.57
31.49
3.46
5.61
3.25
10.62
39.81
2.28
2.23
15.53
108.29
19.20
5.84
9.10
11.12
14.52
12.19
6.51
18.53
0.44
0.40
8.70
4.86
9.46
2.43
25.58
7.53
26.96
16.19
4.44
5.29
5.34
76.15
2.62
10.99
1.57
31.61
3.26
4.47
2.93
11.41
36.32
2.76
1.79
16.10
113.10
20.49
5.39
9.12
15.08
12.98
10.47
6.43
17.39
0.44
2.28
7.86
6.28
9.90
3.76
25.63
5.09
26.77
16.45
5.99
6.36
5.79
73.93
2.61
11.16
1.57
31.64
3.70
4.83
3.25
11.65
34.40
2.45
1.78
17.49
127.85
29.13
5.51
9.61
15.34
14.98
12.33
6.71
18.01
0.44
1.98
7.75
6.44
10.22
3.82
25.70
5.09
38.21
16.35
5.75
6.40
5.36
77.98
2.32
12.02
1.57
30.87
3.68
5.09
3.47
11.05
34.28
3.63
1.78
17.42
137.38
21.64
5.15
11.80
12.78
16.93
15.36
6.12
11.81
3.20
2.30
8.37
4.60
11.31
2.66
25.99
3.52
28.80
19.26
8.04
7.91
4.75
82.80
2.30
13.52
1.57
31.08
3.94
5.78
4.67
11.60
41.34
5.13
1.76
18.84
132.47
23.18
5.00
11.37
14.61
19.39
8.48
5.92
13.31
0.44
0.39
-0.56
0.32
0.14
0.37
1.40
-0.57
2.91
-0.29
0.09
0.30
-0.03
1.21
0.03
0.47
0.01
1.26
-0.06
-0.27
-0.11
0.15
-1.35
0.43
-0.03
0.48
9.34
0.76
-0.23
0.88
0.05
0.63
1.70
-0.16
-0.65
0.69
0.31
0.62
-1.84
1.09
-1.16
0.29
-1.57
-9.40
2.91
2.29
1.51
-0.61
4.82
-0.02
1.50
0.00
0.21
0.26
0.70
1.20
0.55
7.06
1.50
-0.02
1.42
-4.91
1.54
-0.16
-0.43
1.83
2.46
-6.88
-0.20
1.50
-2.76
154
96
123
75
152
40
144
36
55
99
101
119
8
155
70
159
33
134
109
121
73
21
115
158
56
1
44
117
74
67
53
94
108
71
160
3.05
11.56
6.76
2.33
12.45
11.84
42.86
6.30
4.04
3.36
7.05
4.22
8.26
9.45
67.34
10.46
8.78
4.91
3.46
76.59
12.48
3.03
24.25
7.59
2.51
13.95
12.92
49.23
7.32
3.87
1.58
6.52
4.40
8.32
10.16
70.00
11.14
8.76
6.13
3.81
78.41
12.64
2.66
25.39
7.36
2.33
15.19
14.17
50.01
8.07
3.76
2.23
5.76
4.43
7.24
8.58
67.78
8.91
8.72
4.80
2.94
80.66
13.80
2.68
22.10
10.45
2.40
19.87
14.30
45.37
7.90
3.36
5.78
4.45
7.35
10.70
64.84
8.60
8.57
4.74
3.22
88.95
14.99
3.36
26.49
10.43
2.31
20.09
13.16
52.53
8.67
3.86
3.26
5.48
4.20
10.31
9.72
66.24
9.01
8.93
4.97
4.03
89.26
18.13
3.80
27.68
17.98
2.73
21.61
17.09
51.99
10.34
3.73
3.26
5.71
4.20
8.74
10.15
67.01
8.39
9.16
7.53
3.83
84.30
19.33
0.08
3.73
0.92
0.00
1.91
0.33
2.42
0.59
-0.05
-0.02
-0.39
0.00
0.51
0.07
-0.28
-0.36
0.04
0.01
0.14
3.17
1.41
0.45
1.19
7.56
0.41
1.53
3.93
-0.55
1.67
-0.12
0.00
0.24
0.00
-1.57
0.43
0.77
-0.62
0.23
2.56
-0.20
-4.96
1.21
137
37
58
151
47
59
17
81
141
145
110
128
89
82
13
95
88
103
136
7
54
200
Annex IV (continued)
Rank
2009
Index points
Greece
Greenland
Grenada
Guam
Guatemala
Guinea
Guinea-Bissau
Guyana
Haiti
Honduras
Hong Kong, China
Iceland
India
Indonesia
Iraq
Ireland
Israel
Italy
Jamaica
Japan
Jordan
Kenya
Kiribati
Kuwait
Latvia
Lebanon
Liberia
Lithuania
Madagascar
Malaysia
Maldives
Malta
Marshall Islands
Mauritania
Mauritius
Mexico
Micronesia
(Federated States of)
Montenegro
Morocco
Mozambique
Myanmar
Namibia
Netherlands
New Caledonia
New Zealand
Nicaragua
Nigeria
Northern Mariana
Islands
Norway
Oman
Pakistan
Palau
2004
2005
2006
2007
2008
2009
Average annual
growth
2004 – 2008
Growth
2009/2008
30.22
2.32
2.30
10.50
12.28
6.13
2.12
4.54
4.91
9.11
94.42
4.72
34.14
25.88
13.69
1.40
8.78
20.37
58.13
21.32
69.15
11.00
8.59
3.06
5.87
6.37
10.57
5.29
5.25
5.22
6.90
62.83
4.15
27.53
3.49
5.36
13.13
25.29
29.07
2.32
2.52
10.52
13.85
6.89
5.19
4.37
3.43
8.64
96.78
4.88
36.88
28.84
14.23
1.63
9.66
20.06
62.20
21.99
66.73
13.42
8.98
3.28
6.77
5.82
12.53
5.95
5.17
5.88
6.83
64.97
4.08
25.70
3.68
5.99
12.26
25.49
31.29
2.27
3.37
9.56
18.13
8.71
5.03
4.60
2.91
8.29
99.31
4.75
42.90
25.84
17.37
4.06
8.18
20.44
58.11
23.02
64.54
12.98
9.30
3.05
4.14
5.10
25.57
4.55
4.71
5.66
8.31
69.20
3.90
30.32
3.26
6.25
11.53
29.78
30.70
2.27
4.09
8.73
15.40
8.47
5.14
4.28
2.87
8.76
106.20
4.72
40.47
26.27
23.59
2.61
8.85
21.42
58.84
25.50
62.73
16.46
10.85
3.06
6.22
5.87
30.01
4.50
6.59
6.83
7.97
81.58
4.75
29.53
3.06
7.90
17.17
30.98
27.14
2.36
4.20
8.56
15.44
6.41
5.34
4.36
3.44
9.26
108.78
4.72
42.18
24.85
22.91
1.20
7.64
19.83
55.87
18.23
66.63
16.37
10.95
3.06
6.14
5.52
28.92
4.25
5.36
7.76
7.82
77.60
5.45
29.92
3.06
7.93
17.43
31.17
41.91
2.27
4.13
8.57
14.73
8.32
3.54
4.34
4.40
10.68
104.47
4.73
40.97
25.68
28.90
5.11
7.60
18.65
69.97
19.56
66.33
23.71
12.83
2.85
6.54
5.18
29.55
5.49
9.43
8.11
8.64
81.21
5.43
37.71
2.85
7.50
14.76
31.89
-0.77
0.01
0.48
-0.48
0.79
0.07
0.81
-0.05
-0.37
0.04
3.59
0.00
2.01
-0.26
2.31
-0.05
-0.29
-0.14
-0.56
-0.77
-0.63
1.34
0.59
0.00
0.07
-0.21
4.59
-0.26
0.03
0.63
0.23
3.69
0.32
0.60
-0.11
0.64
1.08
1.47
14.77
-0.09
-0.07
0.00
-0.71
1.91
-1.80
-0.02
0.95
1.42
-4.30
0.01
-1.21
0.83
5.99
3.90
-0.04
-1.17
14.10
1.33
-0.30
7.34
1.88
-0.20
0.40
-0.34
0.63
1.23
4.07
0.35
0.82
3.61
-0.02
7.78
-0.20
-0.44
-2.67
0.73
20
156
130
93
65
97
143
125
124
78
2
120
22
41
35
116
102
57
12
52
14
42
72
147
106
114
34
112
84
98
91
10
113
24
148
104
64
31
2.80
2.92
9.39
6.64
3.12
6.28
78.81
8.16
9.83
20.88
4.75
12.83
2.87
2.92
8.68
6.71
2.47
6.61
79.95
8.23
10.34
20.58
5.25
12.79
1.94
2.96
8.54
6.66
2.54
8.52
80.97
7.82
9.00
20.71
8.05
13.02
3.13
2.96
9.02
7.14
3.12
8.37
84.79
9.22
8.81
20.60
7.89
13.69
3.85
3.20
29.79
8.81
3.63
11.12
87.57
8.56
9.23
20.48
8.91
18.30
3.85
0.02
38.40
9.38
3.79
13.61
88.66
8.57
8.74
10.59
10.58
19.89
0.26
0.07
5.10
0.54
0.13
1.21
2.19
0.10
-0.15
-0.10
1.04
1.37
0.00
-3.18
8.61
0.57
0.16
2.49
1.09
0.01
-0.49
-9.89
1.68
1.59
135
161
23
85
139
69
4
92
90
79
80
50
2.17
9.23
23.33
20.18
1.04
2.20
8.31
23.64
21.49
1.04
1.85
7.34
20.28
21.82
1.87
2.86
7.80
28.96
24.77
3.07
3.76
7.91
30.42
24.61
3.79
3.76
7.93
45.32
26.58
3.79
0.40
-0.33
1.77
1.11
0.69
0.00
0.03
14.90
1.98
0.00
140
100
19
38
138
201
Annex IV - UNCTAD Liner Shipping Connectivity Index
Annex IV (continued)
Rank
2009
Index points
Panama
Papua New Guinea
Paraguay
Peru
Philippines
Poland
Portugal
Puerto Rico
Qatar
Republic of Korea
Romania
Russian Federation
Saint Lucia
Saint Vincent and
the Grenadines
Samoa
Saudi Arabia
Senegal
Seychelles
Sierra Leone
Singapore
Slovenia
Solomon Islands
Somalia
South Africa
Spain
Sri Lanka
Sudan
Suriname
Sweden
Switzerland
Thailand
Togo
Tonga
Trinidad and Tobago
Tunisia
Turkey
Ukraine
United Kingdom
United Republic
of Tanzania
Uruguay
Vanuatu
Venezuela (Bolivarian
Republic of)
Viet Nam
Yemen
Source:
2004
2005
2006
2007
2008
2009
Average annual
growth
2004 – 2008
Growth
2009/2008
32.05
6.97
0.53
14.79
15.45
7.28
17.54
14.82
2.64
68.68
12.02
11.90
5.49
3.70
29.12
6.40
0.53
14.95
15.87
7.53
16.84
15.23
4.23
73.03
15.37
12.72
5.32
3.72
27.61
4.67
6.32
16.33
16.48
7.50
23.55
14.68
3.90
71.92
17.61
12.81
5.59
3.43
30.53
6.86
6.25
16.90
18.42
7.86
25.42
15.96
3.59
77.19
22.47
14.06
6.16
4.21
30.45
6.92
0.65
17.38
30.26
9.32
34.97
15.62
3.21
76.40
26.35
15.31
6.19
4.25
32.66
6.58
0.00
16.96
15.90
9.21
32.97
10.92
2.10
86.67
23.34
20.64
3.08
4.25
-0.40
-0.01
0.03
0.65
3.70
0.51
4.36
0.20
0.14
1.93
3.58
0.85
0.18
0.14
2.21
-0.34
-0.65
-0.42
-14.36
-0.12
-2.00
-4.70
-1.12
10.28
-3.02
5.32
-3.11
0.00
28
105
162
60
61
87
27
77
157
5
43
48
146
126
3.56
5.44
0.91
35.83
10.15
4.88
5.84
81.87
13.91
3.62
3.09
23.13
54.44
34.68
6.95
4.77
14.76
3.53
8.54
59.56
31.01
10.19
3.81
13.18
8.76
25.60
1.77
11.18
38.06
81.69
3.58
5.33
1.28
36.24
10.09
4.93
6.50
83.87
13.91
4.29
1.28
25.83
58.16
33.36
6.19
4.16
26.61
3.40
11.84
63.74
31.92
10.62
4.75
10.61
7.62
27.09
3.00
10.81
39.22
79.58
3.40
5.09
1.57
40.66
11.24
5.27
5.12
86.11
11.03
3.97
2.43
26.21
62.29
37.31
5.67
3.90
28.17
3.20
11.29
65.64
33.89
11.09
4.45
11.18
7.04
27.09
3.22
14.88
46.70
81.53
4.34
6.50
1.64
45.04
17.08
5.29
5.08
87.53
12.87
4.13
3.05
27.52
71.26
42.43
5.66
4.29
25.82
3.27
14.20
62.43
35.31
10.63
4.07
13.72
7.23
32.60
3.76
16.73
48.21
76.77
4.52
6.66
2.54
47.44
17.64
4.49
4.74
94.47
15.66
4.16
3.24
28.49
67.67
46.08
5.38
4.26
30.27
3.01
12.72
62.58
36.48
12.56
4.23
12.88
6.95
35.64
3.81
23.62
48.80
77.99
4.13
4.62
2.38
47.30
14.96
4.90
5.56
99.47
19.81
3.96
2.82
32.07
70.22
34.74
9.28
4.16
31.34
2.74
11.03
60.90
36.78
14.42
3.99
15.88
6.52
31.98
3.70
22.81
60.45
84.82
0.24
0.31
0.41
2.90
1.87
-0.10
-0.28
3.15
0.44
0.13
0.04
1.34
3.31
2.85
-0.39
-0.13
3.88
-0.13
1.05
0.75
1.37
0.59
0.10
-0.08
-0.45
2.51
0.51
3.11
2.69
-0.92
0.40
-2.04
-0.16
-0.14
-2.67
0.40
0.83
5.01
4.15
-0.20
-0.42
3.58
2.56
-11.34
3.89
-0.10
1.07
-0.27
-1.70
-1.67
0.30
1.86
-0.24
3.01
-0.43
-3.66
-0.11
-0.81
11.65
6.83
131
122
153
18
63
118
111
3
51
133
149
29
11
26
86
129
32
150
76
15
25
68
132
62
107
30
142
45
16
6
8.10
83.30
16.44
3.92
8.59
87.62
16.58
4.48
8.71
85.80
16.81
4.41
10.58
83.68
21.28
4.34
10.46
82.45
22.88
4.36
9.54
82.43
22.28
4.22
0.59
-0.21
1.61
0.11
-0.92
-0.02
-0.60
-0.15
83
9
46
127
18.22
12.86
19.21
19.90
14.30
10.18
18.62
15.14
9.39
20.26
17.59
14.28
20.46
18.73
14.44
20.43
26.39
14.61
0.56
1.47
-1.19
-0.03
7.65
0.17
49
39
66
UNCTAD, calculated from data of Containerisation International Online, www.ci-online.co.uk.
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United Nations
United Nations Conference
on Trade and Development
UNCTAD/RMT/2009/Corr.1
Sales No. E.09.II.D.11
13 September 2010
Arabic, English, French, Russian
and Spanish only
Review of Maritime Transport 2009
Corrigendum
1.
Page xi
In line 5, for Loss read Lessors.
2.
Page 16
In figure 5, in the pie chart headed “World oil consumption, 2008” for Middle East
8% read South and Central America 8%.
3.
Page 17
In column 2, line 2, for 118 mbp read 118 mbd.
4.
Page 63
In column 1, paragraph 2, line 8, for 2007 read 2008.
In column 2, line 1, for 2007 read 2008.
5.
Page 75
In column 2, paragraph 2, line 8, for table 23 read table 24.
6.
Page 77
In figure 17, on the Y axis, add Thousands of ton-miles.
7.
Page 78
In figure 19, on the Y axis, add Thousands of ton-miles.
8.
Page 79
In column 1, line 1, for table 26 read table 25.
9.
Page 83
In the subheading to the table, for 2007 data (trade) and beginning of 2008 data (fleet)
read 2008 data (trade) and beginning of 2009 data (fleet).
10.
Page 87
In column 1, line 4, for Arabian Gulf read Persian Gulf.
11.
Page 89
GE.10-
UNCTAD/RMT/2009/Corr.1
12.
Page 90
13.
Page 100
In column 2, line 7, for COSCO’s read COSCON’s.
14.
Page 101
15.
Page 105
In the title of table 35, for 2009 read 2008.
16.
Page 107
In endnote 14, for Europe’s old 15 read The European Union’s old 15.
17.
Page 118
In table 40, in the headnote, for km read tons.
18.
Page 120
In column 2, paragraph 3, line 14, delete millions of.
19.
Page 126
In column 1, line 11, for article r. 2 read article IV r. 2.
In column 2, paragraph 4, line 2, for chapter 10 read chapter 9.
In the lower box, for chapter 10 read chapter 9.
20.
Page 129
In column 1, paragraph 4, line 1, for chapter 10 read chapter 9.
21.
Page 150
In endnote 1, line 5, for A/RES/62/122 read A/RES/63/122.
In endnote 8, line 1, after Transport insert of Goods.
22.
Page 154
In endnote 57, line 2, for Shopowners read Shipowners.
In endnote 57, line 4, for Association read Federation.
23.
Page 155
In endnote 78, for para. 19 read para. 10.
In endnote 79, line 6, delete Djibouti.
24.
Page 172
In table 47, as a footnote to the table, add
a
Regional comparison.
b
Global comparison.
2

review of maritime transport 2009

Transcription

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