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Review of Maritime Transport 2016 Review of Maritime Transport UNCTAD UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT REVIEW OF MARITIME TRANSPORT For further information on UNCTAD’s work REVIEW on trade logistics, please visit: http://unctad.org/ttl OF MARITIME and for the TRANSPORT Review of Maritime Transport 2016: http://unctad.org/rmt E-mail: 2016 [email protected] To read more and to subscribe to the UNCTAD Transport Newsletter, please visit: http://unctad.org/transportnews 2016 UNITED NATIONS ISBN 978-92-1-112904-5 Layout and printed at United Nations, Geneva 1623510 (E)–November 2016 – 2,102 UNCTAD/RMT/2016 United Nations publication Sales No. E.16.II.D.7 : © Jan Hoffmann Photo credit UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT REVIEW OF MARITIME TRANSPORT 2016 New York and Geneva, 2016 ii REVIEW OF MARITIME TRANSPORT 2016 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 or editorial corrections that may prove necessary, based on comments made by Governments, will be reflected in a corrigendum to be issued subsequently. * * * Symbols of United Nations documents are composed of capital letters combined with figures. Use of such a 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 symbol (UNCTAD/RMT/2016). A copy of the publication containing the quotation or reprint should be sent to the UNCTAD secretariat at the following address: Palais des Nations, CH1211 Geneva 10, Switzerland. UNCTAD/RMT/2016 UNITED NATIONS PUBLICATION Sales no. E.16.II.D.7 ISBN 978-92-1-112904-5 eISBN: 978-92-1-058462-3 ISSN 0566-7682 ACKNOWLEDGEMENTS iii ACKNOWLEDGEMENTS Preparation of the UNCTAD Review of Maritime Transport 2016 was coordinated by Jan Hoffmann with administrative support and formatting by Wendy Juan, under the overall guidance of Shamika N. Sirimanne. Contributors were Regina Asariotis, Hassiba Benamara, Jan Hoffmann, Anila Premti, Vincent Valentine and Frida Youssef. The publication was edited by Deniz Barki and Lucy Deleze-Black. The cover was designed by Sophie Combette. The desktop publishing was carried out by Nathalie Loriot. The considered comments and valuable input provided by the following reviewers are gratefully acknowledged: Samantha Barnwell, Alex Charvalias, Trevor Crowe, Jörg Erdtmann, Mahin Faghfouri, Dalibor Gogic, Ki-Soon Hwang, Rouben Indjikian, Ulrich Malchow, Hafiz Mirza, José María Rubiato, Ma Shuo, Dong-Wook Song, André Stochniol, Antonella Teodoro, Miluše Tichavska, Wang Wei and Clarksons Research. Thanks are also due to Vladislav Shuvalov for reviewing the publication in full. iv REVIEW OF MARITIME TRANSPORT 2016 TABLE OF CONTENTS Note ................................................................................................................................................................................... ii Acknowledgements ............................................................................................................................................................. iii list of tables, figures and boxes ............................................................................................................................................ v Abbreviations ...................................................................................................................................................................... vii Explanatory notes................................................................................................................................................................ viii Vessel groupings used in the Review of Maritime Transport ................................................................................................... ix Executive summary ............................................................................................................................................................. x 1. DEVELOPMENTS IN INTERNATIONAL SEABORNE TRADE ............................................ 1 A. World economic situation and prospects ........................................................................................................ 2 B. World seaborne trade.................................................................................................................................... 5 C. Other developments affecting seaborne trade, and potential opportunities for developing countries.................... 20 D. Outlook ........................................................................................................................................................ 24 2. STRUCTURE, OWNERSHIP AND REGISTRATION OF THE WORLD FLEET ........................ 29 A. Structure of the world fleet ............................................................................................................................ 30 B. Developing country participation in maritime business .................................................................................... 33 C. Ownership and operation of world fleet .......................................................................................................... 36 D. Container ship deployment and liner shipping connectivity .............................................................................. 41 E. Registration .................................................................................................................................................. 44 F. Seafarers ..................................................................................................................................................... 44 G. Shipbuilding, demolition and new orders ........................................................................................................ 47 H. Outlook ........................................................................................................................................................ 48 3. FREIGHT RATES AND MARITIME TRANSPORT COSTS ................................................. 51 A. Container freight rates .................................................................................................................................. 52 B. Dry bulk freight rates .................................................................................................................................... 56 C. Tanker freight rates ...................................................................................................................................... 57 D. Outlook ........................................................................................................................................................ 58 4. PORTS ...................................................................................................................... 61 A. Opportunities for developing countries to improve port performance ................................................................ 62 B. Port statistics .............................................................................................................................................. 62 C. Container port developments ......................................................................................................................... 68 D. Overall port developments ............................................................................................................................ 69 E. Conclusion .................................................................................................................................................. 73 5. LEGAL ISSUES AND REGULATORY DEVELOPMENTS .................................................... 77 A. Important developments in maritime transport law .......................................................................................... 79 B. Regulatory developments relating to the reduction of greenhouse gas emissions from international shipping and other environmental issues ..................................................................................................................... 82 C. Other legal and regulatory developments affecting transportation .................................................................... 90 D. Status of conventions .................................................................................................................................... 96 TABLE OF CONTENTS v LIST OF TABLES, FIGURES AND BOXES Table 1.1 World economic growth by selected country grouping, 2013–2016 (Percentage change).................................. 3 1.2 Growth in merchandise trade volume by selected country grouping, 2013–2015 (Percentage change) .............. 4 1.3 Developments in international seaborne trade, selected years (Millions of tons loaded) ...................................... 6 1.4 (a) World seaborne trade by type of cargo and country grouping, 2006–2015 (Millions of tons).............................. 8 1.4 (b) World seaborne trade by type of cargo and country grouping, 2006–2015
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