Despite the economic downturn, Greek shipowners have proved once again to be the leaders of global shipping industry. It is worthy to note that they control the 16,25% of global fleet in terms of dwt, while they own the 23,5% and 18,5% of total tankers and bulkers respectively.
More than 90% of the world’s oceangoing tonnage is insured by the mutual P&I Clubs that are members of the International Group of P&I Clubs (IG P&I Clubs). The results this year reveal that The Japan Ship Owners’ Mutual and the UK P&I Club continue to dominate the market with 12.09%, and 12.03% of the global fleet respectively. In addition, The North of England and Gard P&I Clubs have increased their overall market share and now have an almost equal share of the global fleet standing at around 10.3%.
The following article was initially published in the Isle of Man Maritime Blog by Dick Welsh Director of Isle of Man Ship Registry. I recently attended London’s Inaugural International Shipping Week. A very successful week, with great support from all in the industry. During the week, I attended a number of high level conferences, with some very distinguished speakers, where the topic of fuel efficiency for ships was never far away.
United Nations Conference on Trade & Development (UNCTAD) releases every year an annual report with the aim of fostering the transparency of maritime markets and analysing relevant developments. This post refers to “The Review of Maritime Transport” for 2012 which covers data and events from January 2011 until June 2012. In this post we present an extract from the UNCTAD 2012 report regarding seaboarne trade by cargo type.
Real alternative to EU exports is born during recent talks in Moscow. Representatives of Chinese National Petroleum Company and Russia’s oil & gas giants Gazprom and Novatek have inked the agreement to sell abundant Siberian resources to the fast-growing Eastern market. The Chinese are investing billions to Russia’s fuel energy complex diversification program. Positive Fitch report on the historic deal indicates that both parties are planning to reach synergies and profit from cooperation.
UK Government announced yesterday its intention to increase funding for training and a cross-departmental approach to policy – following a summit of shipping industry leaders hosted by the Prime Minister to discuss UK competitiveness – at the start of London International Shipping Week. This made evident the support of the UK Government to the maritime sector.
The oil and gas sector is an important part of the Scottish economy. It is estimated to contribute around £25 billion to Scottish GDP, approximately 17% of the total in 2011. The sector is also a major exporter, with total UK production of oil and gas boosting the UK balance of payments by an estimated £40 billion in 2011. The growth of the oil and gas sector in Scotland has produced a wider supply chain to support the industry. There are estimated to be 2,000 companies in the oil and gas supply chain operating in Scotland, providing services to the offshore industry worldwide. In 2010, the Scottish supply chain generated sales of £16.3 billion, of which over £7.6 billion was accounted for by international sales.
Members of the influential Gas Exporting Countries Forum (GECF) gathered in Moscow 1-2 July 2013. Long-term contracts and infrastructure projects were high on the agenda. The GECF is an international club of major natural gas exporters including Russia, Iran, Qatar, Libya and Venezuela. Exporters strive to guarantee the stability of gas supplies, open new markets for this clean energy source and provide a balanced risk sharing mechanism between producers and consumers.
Europe’s LeaderSHIP 2020 strategy to increase the competitiveness of European maritime technology is the result of a close co-operation between the industry, the trade unions, maritime regions, Member States and the European Commission. The European ships and maritime equipment industry employs more than 500,000 people and has an average annual turnover of around €72bn but faces strong competition, and, like many other industries, the effects of an unprecedented crisis.
Subsea companies across the UK are set to grow by 20% or more in 2013, with some companies anticipating more than 50% growth. During last February a survey of Subsea UK members revealed that 100% of firms are predicting significant growth in the next 12 months. Almost half expect to grow by 30% and a third by more than 50%. Almost 90% of those surveyed saw turnover and profits rise in 2012 with over half reporting growth of 20% and a fifth reporting more than 50% growth.
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Officer of the Watch 