Review of Maritime Transport 2013
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OF MARITIME TRANSPORT 2013 UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT REVIEW OF MARITIME TRANSPORT 2013 New York and Geneva, 2013 ii REVIEW OF MARITIME TRANSPORT 2013 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/2013). 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/2013 UNITED NATIONS PUBLICATION Sales no. E. 13.II.D.9 ISBN 978-92-1-112872-7 e-ISBN 978-92-1-054195-4 ISSN 0566-7682 ACKNOWLEDGEMENTS iii ACKNOWLEDGEMENTS The Review of Maritime Transport 2013 was prepared by the Trade Logistics Branch of the Division on Technology and Logistics, UNCTAD, under the coordination of Jan Hoffmann with administrative support and formatting by Florence Hudry and Wendy Juan, the supervision of José María Rubiato, and the overall guidance of Anne Miroux. The authors were Regina Asariotis, Hassiba Benamara, Jan Hoffmann, Azhar Jaimurzina, Anila Premti, José María Rubiato, Vincent Valentine and Frida Youssef. The publication was edited by John Rogers, Lucy Annette Deleze-Black and Maritza Ascencios. The cover was designed by Sophie Combette and Nadège Hadjemian. The desktop publishing was carried out by Nathalie Loriot. The considered comments and valuable input provided by the following reviewers are gratefully acknowledged: Chapter 1: Clarkson Research Services, Tracy Chatman, Socrates Leptos-Bourgi, Jan-Willem Vanhoogenhuizen. Chapter 2: Clarkson Research Services, Yann Duval, Thomas Pawlik. Chapter 3: Hannes Finkenbrink, Robert Piller, Jan-Willem Vanhoogenhuizen. Chapter 4: Mary R. Brooks, Ki-Soon Hwang, Dong-Wook Song. Chapter 5: Mahin Faghfouri, Stephen Fevrier, André Stochniol, Matthew Wilson. Chapter 6: Thanattaporn Rasamit, Gordon Wilmsmeier. Thanks are also due to Vladislav Chouvalov for reviewing the publication in full. iv REVIEW OF MARITIME TRANSPORT 2013 TABLE OF CONTENTS Note ..................................................................................................................................................................................ii Acknowledgements ...........................................................................................................................................................iii Abbreviations ..................................................................................................................................................................viii Explanatory notes.............................................................................................................................................................. x Vessel groupings used in the Review of Maritime Transport ................................................................................................. x Foreword ..........................................................................................................................................................................xi Executive summary ..........................................................................................................................................................xii 1. DEVELOPMENTS IN INTERNATIONAL SEABORNE TRADE ..........................................1 A. World economic situation and prospects .....................................................................................................2 B. World seaborne trade..................................................................................................................................6 C. Selected emerging trends affecting international shipping ...........................................................................25 2. STRUCTURE, OWNERSHIP AND REGISTRATION OF THE WORLD FLEET ....................35 A. Structure of the world fleet ........................................................................................................................36 B. Ownership and operation of the world fleet.................................................................................................42 C. Container ship deployment and liner shipping connectivity ......................................................................................51 D. Registration of ships .................................................................................................................................54 E. Shipbuilding, demolition and new orders ....................................................................................................58 3. FREIGHT RATES AND MARITIME TRANSPORT COSTS .............................................67 A. Freight rates .............................................................................................................................................68 B. Recent developments in shipping finance: greater involvement of private equity ..........................................78 4. PORT DEVELOPMENTS ..........................................................................................87 A. Port throughput ........................................................................................................................................88 B. Financing port investments........................................................................................................................88 C. Recent port developments .........................................................................................................................94 D. Assessing port performance ......................................................................................................................99 E. Conclusions ...........................................................................................................................................100 5. LEGAL ISSUES AND REGULATORY DEVELOPMENTS ..............................................103 A. Important developments in transport law ..................................................................................................104 B. Regulatory developments relating to the reduction of greenhouse gas emissions from international shipping and other environmental issues ..................................................................................................105 C. Other legal and regulatory developments affecting transportation ..............................................................114 D. Status of conventions ..............................................................................................................................122 E. International agreements on trade facilitation ...........................................................................................123 TABLE OF CONTENTS v 6. SECURING RELIABLE ACCESS TO MARITIME TRANSPORT FOR LANDLOCKED COUNTRIES .........................................................................................................139 A. Obstacles to transit chains ......................................................................................................................140 B. The cost of transit unreliability ...........................................................................................................143 C. A model for a change of paradigm in transit .............................................................................................145 D. Conclusions ...........................................................................................................................................149 Annexes I. World seaborne trade by country group (Millions of tons) .......................................................................152 II. (a) Merchant fleets of the world by flags of registration, groups of economies and types of ship, as at 1 January 2013 (Thousands of GT) .................................................................................................157 II. (b) Merchant fleets of the world by flags of registration, groups of economies and types of ship, as at 1 January 2013 (Thousands of DWT) ..............................................................................................162 II. (c) Merchant fleets of the world by flags of registration, groups of economies and types of ship, as at 1 January 2013 (Number of ships) ..................................................................................................167 III. True nationality of the 20 largest fleets by flag of registration, as at 1 January 2013 ...................................173 IV. Containerized port traffic (Alphabetical order)