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Hellas: Shipping retains No1 global place during 2009 |
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Friday, 05 February 2010 |
 Despite 2009 being among the most challenging years for the shipping industry, Hellenic ship owners have managed to remain in the first place, in terms of market share of the global fleet. According to figures compiled by leading shipping brokers and consultants N.Cotzias Shipping Group, ship owners control a fleet of over 4,500 ships (over 1,000 gross tons).
This number represents a 8.5% share of the active global and under
construction fleet and a 15.5% share in terms of dwt capacity (13.5% in
gross tonnage). In fact, it’s the actual capacity that comes to show
the strength of the country’s maritime industry.
When one looks at the two main subsectors of the industry, the
Hellenic-owned fleet in terms of capacity controls 19.5% of the global
dry bulk fleet (in deadweight tonnage) and 20.5% of the global tanker
fleet. Both of these percentages include the current orderbook of
newbuildings. The respective share of the container ship market stands
at 6.5% and at roughly 6% for passenger ships. In its report, Cotzias
says that one particular sector which showed increased growth, was that
of the LNG/LPG where the Hellenic-owned market share of the global
fleet has risen at close to 10%.
In terms of comparison within the European border, Hellas controls
approximately 43% of the continent’s ship carrying capacity. Also,
Hellenic ship owners are responsible for about 11% -13% of the current
global orderbook of newbuilding vessels, with about 1,100 ships on
order. Of them 50% is for dry bulk carriers, with another 35% being
attributed to tankers.
As a result of a constant process of fleet renewal, through newbuilding
deliveries and selling of older vessels mainly at Chinese owners,
undergoing from the beginning of the decade, the average age of the
Hellenic-controlled fleet has tumbled to 11.8 years, down fro 12.4 just
a year ago (2008). Just for comparison, the average age in 2000 stood
at about 20 years old. At the same time, the carrying capacity has been
increased, despite the fact that the actual number of ships has fallen.
This is a clear testament that owners have turned towards larger and
more efficient vessels. In terms of the tanker fleet, it is now rated
as the youngest worldwide, with an average of just 5.3 years, as
compared to the global average of 6.7 years.
Unfortunately, this level of quality growth, hasn’t been translated to
a relative enhancement of the Hellenic Registry. According to Cotzias,
ships flying the Hellenic flag represents just a small percentage of
the whole fleet (about 25%). In particular, the total number of dry
bulk carriers flying the country’s flag stands at 1,033 ships of 67
million tons. Similarly, just 393 ships currently on order will run
under the country’s registry. In total (including new buildings) the
registry numbers 1,426 ships, which bring it to just the 13th place
globally. Commenting on this, the broker stated that an imrpovement of
the registry towards its competitiveness, through more incentives could
help deal with the flow of ships towards “flags of convenience”. This
would increase the numbers of Hellenic crews and help reduce
unemployment in the country, not to mention enhance the youth’s
relationship with the sea and the maritime profession.
Towards this direction, the recently formed Ministry of Economy,
Competitiveness and Shipping, under Mrs. Katseli has promised that
during 2010 there will additional measures to help the attractiveness
of the Hellenic Registry, improve maritime education and attact more
seafarers. After all, during a more than challening 2009, shipping
brought to the country an estimated 18 billion euros, which could be
even more if the country’s registry was stronger in numbers. But, one
mustn’t forget that ship owners are looking to cut costs, especially in
today’s market conditions, which often leads them to other more
cost-efficient registries, like those of Panama, Liberia, Malta and
Cyrpus. This practice makes financial sense and maybe is necessary
today, in order for some companies to survive, but as market conditions
improve, some owners should reconsider their strategies.
Nikos Roussanoglou, Hellenic Shipping News Worldwide
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