Italian Maritime Economy 2016 - English version

Italian Maritime Economy
Suez and Panama: new global routes increasing
the centrality of the Mediterranean basin
3rd Annual Report
2016
NORTHERN RANGE
SHIPPING
TERMINAL
PANAMA
MEDITERRANEAN
DEVELOPMENT
CONTAINER
SUEZ
LOGISTICS
SOUTHERN ITALY
Italian Maritime Economy
Suez, the role of China, the new Panama Canal:
from global routes a more central Mediterranean
Annual Report 2016
Giannini Editore
The analysis contained in this report represents the result of a specific SRM project and does not
claim to be comprehensive. In addition, it does not undertake or represent in any way the thoughts
and opinions of SRM’s founder and ordinary members.
The research is exclusively aimed at cognitive and informational knowledge, and is not, at any
purpose, an opinion, a suggestion of investment, a review of companies or individuals mentioned.
All the interviews carried out for the case studies and whose text has been regularly approved by
the interviewees have been edited by SRM, which is, under no circumstances, responsible for the
facts, opinions, news and data referred to, as in the case of chapters not directly processed by SRM.
The faithful reproduction of text, even partial, cannot be carried out without the authorisation of
SRM. The use of this research and of the information herein contained is only allowed for the
purpose of studying and researching the industry and shall be carried out quoting the source.
Publication based on data information available at May 2016.
Cover and editorial design: Marina RIPOLI
ISBN -978-88-7431-821-6
2016© Giannini Editore
Naples - 6/b, via Cisterna dell’Olio
www.gianninispa.it
“Joins the sea that separates the countries”
Alexander Pope
Published by
Research Authors
(Authors details on page 187)
Research director:
Massimo DEANDREIS
Head of “Maritime & Mediterranean Economy” Dept.:
Alessandro PANARO
Research Team:
Olimpia FERRARA (Coordinator), Michele ACCIARO, Anna Arianna BUONFANTI,
Matteo CHIMENTI, Michele DAL DOSSO, Massimo GUAGNINI, Hilde MEERSMAN,
Eddy VAN DE VOORDE, Thierry VANELSLANDER, Edwin VAN HASSEL.
Acknowledgments and Notes
The annual report Italian Maritime Economy 2016 is part of a wider web project
carried out by SRM called ‘Permanent observatory on Maritime Transport and Logistics’
that also led to the creation of a specialized portal: www.srm-maritimeconomy.com. Its
aim is to monitor and study the economic dynamics and the economic impact of this
industry on the Italian economy within a European and Mediterranean framework.
The Observatory was made possible through the support of COMPAGNIA DI
SANPAOLO for which SRM and all the report’s authors are very grateful.
Thanks to all the partners who support our project too: Assoporti, Autorità Portuale
di Taranto, Contship Italia, Federagenti, Federpesca, Grimaldi Group, Lotras, Unione
Industriali di Napoli.
A special thanks to BANCO DI NAPOLI NAPOLI for collaborating in the presentation
and during the dissemination of the research results. In particular, we would like to thank
Mr President Maurizio BARRACCO and the General Manager Mr Francesco GUIDO.
. We also thank the Mediocredito Italiano Desk Shipping for their active participation in
the research project.
Additional gratitude is also offered to the banks and the divisions of the INTESA
SANPAOLO group for the collaboration in the data acquisition and its dissemination
in particular: Alexbank, Intesa Sanpaolo Bank Luxembourg, Division Corporate and
Investment Banking of Intesa Sanpaolo. We would like to thank specifically Mr Dante
CAMPIONI, CEO ofAlexbank, Carlo PERSICO, Mr Carlo PERSICO, responsible for
the International SUPPORT & Subsidiaries, Intesa Sanpaolo.
A special thanks to: Mr Michele PAPPALARDO (President of Federagenti), Mr
Ambrogio PREZIOSO (President of the Industrial Association of Naples), Mr Michele
LIGNOLA (General Manager, Industrial Association of Naples), Mr Francesco TAVASSI
(President for the Logistics, Intermodality and Transports of the Industrial Association
of Naples), Mr Paul KYPRIANOU (Manager, External Relations of the Grimaldi
Group), Mr Sergio PRETE (President, Taranto Port Authority), Mr Daniele TESTI
(Marketing & Corporate Director, Contship Italiy), Mr Luigi GIANNINI (Vice president
FEDERPESCA), Mr Pasqualino MONTI (President of Assoporti), Mr Armando DE
GIROLAMO (Sole managing director of Lotras).
The first chapter of this work has been carried out thanks to the collaboration
with SRM, KLU-Kühne Logistics University of Hamburg, University of Antwerp –
TPR, Department of Transport and Regional Economics with whom we organised a
Scientific Mission in Antwerp, in January 2016, in order to observe and analyse the ports
management models of the Northern range.
The success of the scientific mission of the SRM in Antwerp was possible also
thanks to the active participation of the following companies/institutions: ECSAEuropean Community Shipowners’ Association, PORT of Antwerp, PORT of Antwerp
International, PSA, MSC, ZUIDNATIE.
We also want to thank; Mr John BELLER (Key Account Manager, MSC Belgium),
Ms Stefanie D’HERDE (Marketing Coordinator) for the interviews and the material
provided. We are also grateful to the Port of Antwerp, Mr Patrick MERLEVEDE
(Business Development Manager, Zuidnatie), Ms Inge NUYTEMANS (Business
Analyst Intermodality & Hinterland, Port of Antwerp), Mr Patrick VERHOEVEN
(Secretary General Ecsa), Mr Kristof WATERSCHOOT (Managing Director, Port of
Antwerp International) for the interviews and the material they provided.
The second chapter of this work has been carried out thanks to the collaboration
with the companies SCAFI and PANAMA TUGS Group, whose President and CEO, Mr
Giovanni MASUCCI, allowed us to execute a Scientific Mission in PANAMA, in April
2016, in order to analyse the infrastructural and economic aspects of the new Canal.
As for this, we would thank the PANAMA TUGS manager, Mr Giovanni COMPIANI
for the great assistance given during the logistics and operative phase of the mission,
which was fundamental in terms of information and analysis.
The success of the scientific mission of the SRM in PANAMA was also possible
thanks to the active participation of the following companies/institutions: Hutchinson
Port Holdings, Manzanillo International Terminal, Panama Canal Authority, Panama
Canal Pilots Association, Panama Maritime Authority, Panama Maritime Chamber, PSA.
We are grateful also for the interviews and the material provided by; Mr Oscar
BAZAN (Executive Vice President Planning and Business Development, Panama
Canal Authority), Mr Alessandro CASSINELLI (General Manager PSA Panama), Mr
Juan Carlos CROSTON (Vice President Marketing & Corporate Affairs, Manzanillo
International Terminal), Mr Jovani GONZALEZ (Deputy Director General Directorate
of Seafarers, Panama Maritime Authority), Ms Silvia DE MARUCCI (Executive
Manager, Vice Presidency for Planning and Business Development, Panama Canal
Authority), Mr Edgar PINEDA (CCO, HPH Panama), Mr Londor RANKIN (Panama
Canal Pilots Association, President), Mr Gerardo VARELA (General Director, Ports
and Maritime Ancillary Industries General Directorate, Panama Maritime Authority),
Mr Nicolas VUKELJA DUQUE (First Vice President, Panama Maritime Chamber), Mr
Ricardo UNGO (Manager Business Development Section, Executive Vice Presidency
for Planning and Business Development, Panama Canal Authority).
A very special thanks to the Ambassador of Italy in Panama, His Excellency Marcello
APICELLA for his availability, his invaluable suggestions and information.
We thank Prometeia for participating in the research project.
Further acknowledgements are due to the International Propeller Clubs, in particular
to President Umberto MASUCCI, for the operative contribution offered to this work,
specifically during the mission in Spain in April 2016, that gave us the opportunity to
analyse the Barcelona and Valencia ports.
A thanks to the Presidents of the Propeller Clubs of Barcelona and Valencia for the
support during the mission in Spain, Mr Albert ONATE and Mr Francisco PRADO
CONTRERAS.
A special thanks to all the Italian and Foreign Port Authorities which provided up-todate traffic data.
We also wish to thank for their collaboration: Ms Tiziana MURGIA (Assoporti), Ms
Teresa PUGLIESE (Mediocredito Italiano), Ms Paola RUSSO (Industrial Association of
Naples), Ms Felicetta STANCO (Industrial Associations of Naples).
***
NOTES:
Although the editing and responsibility into the overall design of this work and the
subsequent drafting of the entire report is attributed to SRM, the specific assignments of
each Chapter are as follows:
•
•
•
•
Chapters I, II and VI by SRM;
Chapter III by Massimo GUAGNINI;
Chapter IV by Matteo CHIMENTI and Michele DAL DOSSO;
Chapter V by Michele ACCIARO, Hilde MEERSMAN, Eddy VAN DE VOORDE,
Thierry VANELSLANDER and Edwin VAN HASSEL
See page 187 for further details.
Contents
Preface
11
Introduction
13
Part One
Economic and competitiveness scenarios of maritime transport
Chapter I – The scenario of maritime transport shipping and portuality
1. The economic scenario and the value of shipping
21
2. Containerized traffics
3. Dry Bulk
4. Liquid Bulk
5. General cargo. RO-RO traffic
6. Shipping in Italy between competitors and port reforms
7. Conclusions
Focus. Port strategy in the Islamic Republic of Iran
Statistical Appendix
23
30
32
36
38
41
45
51
Chapter II – The Italian Maritime and logistic system: a comparison with the best players in
terms of competitiveness
1. Foreword
65
2.
3.
4.
5.
6.
66
71
75
77
79
The position and trend of Italy in maritime competitiveness
The position and trend of Italy in logistic competitiveness
The position of Italy in ‘Quality of infrastructure’
Big phenomena and transformations
Conclusions
Chapter III – The
economic impact of ports and the effects caused by the expansion of
maritime transportation
1. Foreword
2. The methodological and operational aspects
3. The economic importance of ports
81
82
85
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Chapter IV – The big alliances in the shipping sector: Vessel Sharing Agreements
1. Foreword
2. Shipping companies
3. Vessel Sharing Agreement
4. Naval gigantism
5. Container services on Italian ports
6. Conclusions
95
95
98
103
106
111
Part Two
Big phenomena and transformations
Chapter V – The port of Antwerp and the Northern-European future maritime economic
development
1.
2.
3.
4.
5.
Foreword
The port of Antwerp system
The economic impact and cluster performance of other Hamburg-Le Havre ports
Impact of macro-drivers
Conclusions
Chapter VI – The Panama Canal:
115
117
125
133
151
development and perspectives of a strategic
infrastructure for global trade
1.
2.
3.
4.
5.
Foreword
Trends and trade characteristics
The new Panama Canal
The players’ vision: the results of an ad hoc mission of SRM
Conclusions: the Relations between the routes of Panama and the Mediterranean
151
153
163
169
175
Bibliography
179
Authors Details
187
10
Preface
The “Italian Maritime Economy” Annual Report has come to its third edition and
bears witness to another intense year of activity for SRM which, through its studies,
draws attention to the value of the maritime economy and to the factors which make it an
undisputed, competitive asset.
I would like to stress that the distinctive character of our research is that we verify in
the field, what is behind the statistics and data we so often read. Only by exploring this
territory can one have real knowledge of the dimension of a phenomenon.
As a matter of fact, the Mediterranean is crossed daily by all kinds of shipping; either
they transport containerized, bulk goods or vehicles (as in the case of the Ro-Ro or the
Motorways of the Sea) and represents the center of a maritime activity which has global
scope.
In the 2015 report, we highlighted that the expansion of the Suez Canal might have
enhanced the centrality of the Mediterranean. This process is now more and more evident.
The 2016 report dwells on some elements which reinforces this trend; for example, China
intensified its presence in the Mediterranean area by purchasing the port of Piraeus.
Also, the decision of the authority of the Egyptian Canal which announced a significant
decrease in transit fees in order to further promote transits.
The increased centrality of Mediterranean in the maritime economy is a trend which
continues despite the political instability which characterizes the area and the specific
incidents with regard to some of these countries.
As for Northern Europe, the stage of port infrastructural expansion with investment
in new terminals, dredging and new technologies continues. The same is happening in
some Northern African ports which, thanks to their free zones, they can attract investment
and companies which plan to become international. Italy is between these two port hubs
and is having to react to the changes.
The port reform represents a significant step forward, but more needs to be done. The
process has started and must be carried out as soon as possible, as our logistics and
maritime competitiveness should be approaching high levels of excellence.
SRM has always supported this idea. It is necessary for Italy, and especially the
Mezzogiorno, to aim at realizing the 4 As of the manufacturing sector (Agribusiness,
Aerospace, Automotive, Apparel-Fashion) along with a logistics system worthy of the
name, as the competition challenge, is also played on the internationalization capability,
achieved by making our products in various markets, quickly available, efficient and
effective . We should not forget that Italy is and has always been a maritime country;
located at the centre of the Mediterranean, with an enviable geographic position, our
ports and shipping industry still represent one of the economic symbols of Italy.
Italian maritime imports and exports account for €220 million with 0.5 billion tonnes
of cargo handled p.a. In addition, Italy ranks 1st in the Short Sea within the Mediterranean
and Black Sea, and many other primacies could be listed. In addition, what applies to
Italy is even truer for the Mezzogiorno, which represents a natural logistic platform in
the center of the Mediterranean.
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Investments in infrastructure, intermodality and in human capital development – in
the maritime sector – are three principles on which our country has to work in order to
to take full advantage of our own geographical position and of our brainpower.
Furthermore, this year we will have to face a new challenge; another infrastructure
that will undoubtedly impact on maritime world balance is about to be inaugurated:
the Panama Canal. Once again, SRM has carried out a specific on-site research in
Panama last April, in order to analyse, along with the main protagonists, the effects of
the expansion on global traffic.
The expansion of the Canal will give further impulse to trade relations between
Europe and the Americas and to shipping routes passing through the Mediterranean to
reach the United States, as well as to the routes from China and bound for the Central
American hub.
Our Observatory has grown, as proven by our partnerships with the Universities of
Antwerp and Hamburg, among the most prestigious in the world. Researchers of the
two universities wrote this work with us and this is meant to represent one of the many
synergies that our study center intends to put at the service of the country’s development.
Italy as well, should begin to think about what to invest in and to what extent, and
SRM still firmly believes that a starting point could be investing in those industries for
which Italy has established and recognized know-how, just as in the entire maritime
industry.
The overt ambition to which our Observatory aspires to, is to become a point of
reference for operators, institutions, industry associations, and clearly, for the banking
sector – of which SRM is an expression – by providing ideas, analysis and reflection
which may offer a contribution in the understanding of the greatness and importance of
the maritime sector for Italy. With the South acting as a protagonist.
Paolo SCUDIERI
12
Introduction
Objectives and organization of the Annual Report
This third edition of the Annual Report ‘Italian Maritime Economy’ represents the
consolidation of the objectives SRM posed itself back in 2014 through the establishment
of the research project named ‘Permanent observatory on the economy of maritime
transport and logistics’.
The need to highlight the phenomena linked to both maritime economy and to the
consequences these have on our country proved utterly necessary and was fulfilled with
the main aim of offering knowledge and ideas to the operators of this sector who witness
its events on a daily basis.
SRM is aware of the fact that portuality, shipping and the entire logistic chain represent
a crucial asset for Italy to be competitive and for allowing the entrepreneurial system
to internationalize its operations in all the areas of the world. Nevertheless, maritime
economy is not only synonymous with mere internationalization. Sea policy, in fact, is
an aspect that belies the culture of any country wishing to be competitive and to employ
strategies of sustainable economic growth.
As a matter of fact, founding a country’s economy on maritime transport and logistics
implies developing infrastructures and companies, building up international relations,
strengthening relations between universities and businesses and, last but not least,
creating jobs and innovation. It is no coincidence that 80% of world trade in volume and
70% in value is transported by sea.
Our country is at the centre of the Mediterranean and should, both now and in the
future, carry out the right policies needed to face the competitive challenges this position
poses. This is the diktat which moved our research project. Monitoring and analysing the
dynamics, routes, projects and players which are more often looking at mare nostrum as
an area of strategic interest.
In its first edition, the Report had already called attention to the phenomenon of
megaships, to the increasing number of orders regarding these giant vessels and to
the growing number of liner alliances. It is now plainly clear that the aforementioned
phenomena represent some of the most critical issues our ports have to tackle. A closer
look at the orderbook for 2019 reveals that the container fleet will grow by over 44%
in the size category 18-21 thousand TEU. Overcapacity is expected to continue and this
excess of hold offer will make competition stiffer between carriers who are believed to
keep on optimizing routes and services (e.g. Korean Hanjin Shipping has started new
‘fast’ services calling at fewer ports) and making the criteria for the selection of ports
even more stringent.
SRM has also been calling attention to the growing competitiveness of North African
portuality. Tanger Med, where new investments have just been announced by APM from
the Maersk Line group, and Port Said, which has recently been enlarged, are increasingly
improving their infrastructure and logistics, reaching leading positions in the sector.
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Last year the Report highlighted the great importance of the doubling of the Suez
Canal and the centrality of the route Mediterranean-Suez-Gulf which was predicted to go
up some places in the world ranking because of the enlargement of the Egyptian canal.
This topic remains ever present also due to the new routes of some megacarriers
which go through Suez coming from the Far East and the Gulf area.
Italy has reached a critical moment of its port history. An important reform is under
discussion and this should help the country retrieve the competitiveness and central role it
used to have and which have been gradually fading. Our ports have always been excellent
examples of efficient infrastructure at our territory’s disposal but constantly faced with
the problems posed by an opposing bureaucracy, a confused activity of planning and
coordination and the lack of investments targeted towards strategic projects.
Therefore, our country has to compete with fierce competitors who invest, attract
foreign capital, carry out projects and invite the new big colossi of the liner shipping sector
to set themselves in their port areas which are cheaper and equipped with specialized
workforce, appropriate seabeds, low taxes and state-of-the-art technology in terminals.
This year’s Report is dedicated to the profiling of these new scenarios, and its main
aim is to provide some analyses and reasoning, in order to inspire efficient maritime-port
policies in Italy and in the Mezzogiorno.
The report starts off from a wish to highlight the increasingly central position of
the Mediterranean in global maritime traffic. We are used to thinking that goods and
ships increase in number only if the economy grows but we also have to admit that
the doubling of the Suez Canal, the enlargement and renewal of terminals in the Med
basin (e.g. Valencia, Tanger-Med, Port Said, Piraeus) along with the emergence of new
markets (UAE and Iran) are all remarkable phenomena which call for a reaction and will
have long-term consequences, overcoming the circumstance.
The list of events aforementioned is enriched by the event of the year, to which our
Report dedicates a specific chapter: the inauguration of the new Panama Canal. The new
infrastructure, which is scheduled to open on 26th June 2016, will allow bigger ships to
pass through (up to 13-14,000 TEU from the 4-5,000 of the old canal which will remain
in operation) and will make it possible to speed up crossings due to the fact that the two
canals will be able to operate three vessels instead of two at the same time.
The new canal, as has come to light from the results of a special mission SRM
carried out in Panama, will boost the economy of the country and of the whole central
American area. In fact, the US ports close to Panama have already planned renewals
and reinforcement of their infrastructure and also the terminal operators who run the
platforms of the most important ports, have announced plans for expansion. Panama will
call attention to the traffic coming from the Far East directed to the East Coast of the
US and to that coming from the deep-sea routes, Med-West Coast of the US. Obviously,
it remains to be seen the extent to which tolls will affect all of this and which policies
of attraction will be implemented by the ports of the area. These topics are specifically
addressed in the report. The central American canal is expected to be more of a big
regional American infrastructure that will mainly affect US portuality by strengthening
it on the Atlantic coast.
On the other hand, Suez confirms its role as a global-impact canal. Nevertheless, the
new Panama canal has already had some consequences in the shipping sector.
14
introduction
German liner Hapag Lloyd, for instance, has ordered five vessels belonging to
category ‘Valparaiso Express’ (10,500 TEU, specially designed to enter the locks
of the new canal). Several ports in Central America are carrying out plans aimed at
obtaining new docks (e.g. Corozal). Also the planned Transatlantic Trade and Investment
Partnership (TTIP) between Europe and the U.S. will have significant consequences and
will represent a big opportunity for the entire global maritime system.
Another important phenomenon this report would like to call attention to, is the
increasingly more significant presence of the ‘Dragon’ in the Mediterranean maritime
system. Between 2000 and 2015 Chinese trade towards the south of the Mediterranean
grew tenfold, exceeding € 50 billion and doubling its value each year. Today, China is
the second trade partner for the area after the U.S. and the first in terms of percentage
growth rate. The new Suez Canal contributed to increasing China’s strategic interest in
the Mediterranean.
The phenomenon of Chinese settlements should be looked at also with regards to
other events such as the acquisition of 67% of Piraeus Port by Cosco. This partly stateowned Chinese operator recently merged with giant CSCL (China Shipping Container
Lines) which strengthened its presence in Spain. Cosco (renamed COSCOCS after the
merger) will invest € 350 million in the Greek port over the next ten years. This operation
clearly shows the extent to which China intends to strengthen its logistic base in the Med
area.
Nevertheless, these actions should also be interpreted along with some other
elements: 1) China already owns 20% of ‘Suez Canal Container terminal’ running one of
the biggest terminals of Port Said, right at the entrance of Suez; 2) a ‘Memorandum’ has
recently been signed by global carriers Cosco (China), CMA CGM (France), Evergreen
Line (Taiwan) and Orient Overseas Container Line (Hong Kong) to start a new alliance
called ‘Ocean Alliance’ which will have 40 liner services on the routes Asia-Europe,
Asia-Med, Asia-Red Sea, Asia-Middle East, Trans-Pacific, Trans-Atlantic and Asia-US
East coast. It will also be of interest to monitor the alliance between France and the Far
East in order to observe the effects it will have on the overall maritime equilibrium; 3)
terminal group Cosco Pacific, member of shipowning group Coscocs (Cosco & China
Shipping), is about to buy 35% of terminal company Euromax Terminal Rotterdam
which runs one of the container terminals in the area of Maasvlakte I in the Dutch port,
where several ships to and from the Mediterranean transit.
Also the phenomenon of big alliances is addressed in this report. Besides the
aforementioned ones and the renown 2M (Maersk-MSC), new deals are being discussed
which will result in increasingly marked processes of selection of the ports of call and
in a higher number of giant ships requiring optimum logistic and intermodal efficiency.
‘The Alliance’ will be one of the most remarkable and it will involve Hanjin, HapagLloyd, K-Line, MOL, NYK, Yang Ming and probably UASC too. This alliance will
come into force in April 2017 with a fleet of more than 620 container ships and a capacity
of 3.5 million TEU.
It is nevertheless true that container traffic is not the only one and that we should also
consider those of dry and liquid bulk (e.g. petroleum, chemical and agriculture products)
which follow different dynamics. At the same time, we should not overlook the fact
that Italy shows an excellent performance in Ro-Ro traffic. All in all, though, a question
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remains: do we want to be players or do we accept being marginalized from the spectrum
of the big game played by maritime alliances?
Ro-Ro traffic in Italy, more than 50% of which is generated in the South, was one
of the main focuses of SRM’s first annual report. This sector still represents a big asset
for our country with excellent shipowners holding terminals all over the world and it
needs to be supported and stimulated in order to avoid losing market share right in the
segments where our know-how is more solid and renown.
Also, many of our ports (Livorno, Civitavecchia, Taranto, Napoli) are either planning
or already building big container terminals and logistic platforms and are taking action to
create free zones because they want to have their share in these kinds of traffic.
It is therefore necessary to rapidly carry out the ongoing process of reform and to
work hard to obtain the facilities and the market needed by our existing infrastructure.
This can be achieved through suitable policies of attraction of investments and by
developing intermodal projects that favour connections between ports and the areas
of production. Better efficiency and reduction in times represent the only way we can
convince companies to use our ports rather than those of Northern Europe or of other
Mediterranean countries.
Southern Italy, which generates about 50% of national port traffic and where
international seaborne trade represents 2/3 of the regional total, should be regarded as
holding a privileged position and deserve special investments and strategies. This area
of our country is fairly close to the Suez Canal and right on the major routes leading
to the markets of Northern Europe and the Middle and Far East. This should produce
careful reasoning as to the role this territory could play in terms of economic growth of
the whole country.
The fact that Maersk has opened offices in Naples, the port of Gioia Tauro overcoming
several difficulties and still holding a prominent position on the global stage, Cagliari
holding its position, Taranto continuing to believe in recovery and the presence of
shipowners and logistic operators who are willing to use their resources and invest, are
all positive signs which point to a wish to make our country grow.
It is with this project that SRM would like to contribute to understanding these
complex and constantly transforming phenomena. In fact, the world of maritime trade is
fast and maritime-economic aspects need to be constantly monitored along with the big
changes they usually produce.
This report is indeed only a part of numerous in-depth analyses, papers and interviews
that the observatory carries out and that it will continue to do in order to keep alive the
attention on our maritime sector.
***
The organization of this research reflects the aims it intends to pursue, with the
first part pertaining to the economic situation and the second being dedicated to two
monographs.
As far as part one is concerned, the first chapter offers an updated framework of the
features of the sector on the European and global stage through in-depth analyses of the
dynamics of the different segments of traffic. Also, it looks at the value of the sector in
16
introduction
the Italian economic and territorial context with reference to some distinctive features
such as fleet, volumes handled, routes and port traffic.
Chapter two provides an analysis of Italy’s competitiveness profiles in comparison
with a panel of competitor countries based on some indexes such as Unctad’s LSCI
(Liner Shipping Connectivity Index) and LSBCI (Liner Shipping Bilateral Connectivity
Index) and World Bank’s LPI (Logistics Performance Index). These indicators allow
the monitoring of the effectiveness of current investments in maritime and logistic
infrastructure or the extent to which ports react (either positively or negatively) to the
big changes we have hereby reported.
The aim of chapter three is to measure the impact ports have on the economy of
regions and to assess the effects of a possible expansion of capacity of the port system
with a special focus on the strengthening of the port structure in Southern Italy. This
complex research is very interesting and from its analyses it emerges clearly that in
order to assess the economic and occupational role of the port industry it is necessary to
consider not only direct effects (added value and employment within the cluster) but also
the consequences on the other sectors of the regional economy and on the other regions.
The distinction between impact on a regional level and on the overall Italian economy
provides a potentially very powerful key of interpretation since it highlights the weight
of inter-relations between regions: on average, more than 60% of added value generated
by ports located in a certain region has an effect on other regions.
Chapter four focuses on a topic SRM has been carefully following for a long time,
which is ‘Vessel Sharing Agreements’ and their related evolutions. For at least two
years we have witnessed a marked tendency of global carriers to sign alliances aimed
at creating economies of scale, in order to optimise routes and costs and to make target
markets grow. We have already mentioned 2M and Ocean Alliance but this chapter also
offers an overview of the real size of this phenomenon and of its impact on the different
routes.
After that, the report moves on to the monographs which start from chapter five
dedicated to the ports of the Northern Range. This article, produced thanks to a
collaboration between SRM, the University of Antwerp and the Kühne Logistics
University of Hamburg, is divided into three sections: a) the first and more markedly
statistical part, is dedicated to showing the importance of the port of Antwerp in the
Belgian economy. This is done through the application of the input-output matrix; b)
the second part illustrates the economic impact of the ports of Rotterdam and Hamburg
on the Northern Range area and carries out a comparison with Antwerp; c) the last
part is mainly focused on the developments these ports could implement following the
inauguration of the new Panama Canal.
Finally, the sixth chapter of this report is dedicated to the new Panama Canal because
this is considered by SRM a remarkable event which will have both long term and
short term consequences on maritime trade. This new infrastructure, in fact, will attract
bigger ships to the American continent, which will result in ports responding with new
infrastructure needed to receive these vessels. Also, this canal, as already happened in
the case of Suez, will probably produce some adjustments of routes and plans for the
alliances currently being formed. Last but not least, the new canal will also justify new
investments in the area of Central America. Here an example will serve the purpose
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italian maritime economy
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of illustrating how attractive to business the area will become: when the authorities
invited international tenders to run the container terminal Corozal (Panama), four
maritime colossi answered: APM Terminals (Denmark), Terminal Link (France), PSA
International (Singapore) and Terminal Investment (the Netherlands).
The analyses contained in this last chapter are particularly interesting because they
are enriched by know-how acquired in the field by SRM in a mission that took place
in April 2016 when all the main operators involved in the project were heard. In this
chapter there is further elaboration aimed at understanding the quantitative impact in
terms of ships and goods transiting the Panamanian hub.
The main aim, ultimately, is to provide some policy indications and to spot transferable
elements of significant experiences.
***
I wish to conclude this introduction to the volume by thanking SRM’s researchers
and the partners of this project who believe in our work and in this adventure we
have embarked upon. A special thanks goes to all the authors who have contributed to
increasing the value of this research.
Hoping we have been able to provide some factual support to those convinced that
the development of the economy of maritime transport and logistics is a priority for our
country. The challenge has been set.
Massimo DEANDREIS
18
Authors details
This Report was designed, coordinated, and written by SRM.
The contributing authors are:
Massimo DEANDREIS, General Manager, SRM
Alessandro PANARO, Head of “Maritime & Mediterranean Economy” Department, SRM
Anna Arianna BUONFANTI, Researcher, Maritime Observatory, SRM
Chapter I -“The scenario of maritime transport shipping and portuality”.
Chapter VI -“The Panama Canal: development and perspectives of a strategic
infrastructure for global trade”.
Olimpia FERRARA, Head of Maritime Observatory, SRM
Chapter II -“The Italian Maritime and logistic system: a comparison with the best
players in terms of competitiveness”.
Chapter VI -“The Panama Canal: development and perspectives of a strategic
infrastructure for global trade”.
Massimo GUAGNINI, Partner of Prometeia, Bologna
Chapter III - “The economic impact of ports and the effects caused by the expansion of
maritime transportation”.
Matteo CHIMENTI, Project Manager, Consorzio ZAI Interporto Quadrante Europa,
Verona
Michele DAL DOSSO, Manager Junior Area, Comac S.p.A, Verona
Chapter IV – “The big alliances in the shipping sector: Vessel Sharing Agreements”
Michele ACCIARO, Associate Professor of Maritime Logistics, the Kühne Logistics
University
Eddy VAN DE VOORDE, Full Professor, Faculty of Applied Economics, University of
Antwerp
Hilde MEERSMAN, Full Professor, Faculty of Applied Economics, University of
Antwerp
Thierry VANELSLANDER, Research professor, Faculty of Applied Economics,
University of Antwerp
Edwin VAN HASSEL, Assistant Professor, Faculty of Applied Economics, University
of Antwerp
Chapter V - The port of Antwerp and the Northern-European future maritime economic
development
187
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Autorità Portuale
di Taranto
This edition of the Italian Maritime Report analyses the new phenomena that are currently
shaping trends in maritime trade and looks closely at the situation in Italy.
Our country is facing some unprecedented difficulties in the Mediterranean area. Firstly,
some fierce competitors in the sector of ports, such as those of the North African and
Northern European sides, are investing in new infrastructures, technologies and logistics.
Secondly, it is extremely important that Italy completes the process of the reform of its port
system that has already started and which will help our country to regain the leading position
it deserves due to its geographical location.
The Mediterranean has also been targeted by China through the implementation of some
effective policies aimed at reinforcing its logistic bases. This has been done by acquiring ports
and directing Chinese carriers towards the strategic alliances necessary to serve routes
towards Europe and the United States. At the same time, the tendency to build megaships is
continuing and this is bound to start more marked processes of selection of ports.
Additionally, the new Panama Canal represents a noteworthy piece of news since this
infrastructure will bring about new changes in the portuality of America and of the world.
The first part of the report is concerned with a study of the competitiveness and economic
scenarios of the Italian maritime system through data, statistics and indexes that analyse
the competitiveness of the country. In the second part there are two monographic papers:
one is about the ports of the Northern Range whilst the other is about the Panama Canal.
The first paper highlights the importance of the port of Antwerp for the Belgian economy and
for the whole Northern Range area. It also provides a comparison with the ports of
Rotterdam and Hamburg and it focuses on the potential developments of these ports which
may take place as a consequence of the opening of the new Panama Canal. This event, in
fact, will generate medium and long-term effects on maritime trade. This is why it has been
analysed in the second monographic paper. This study has been made possible thanks to the
know-how SRM acquired during a mission it carried out in Panama in April 2016, when all the
main operators involved in the realization of the infrastructure were heard.
Many challenges have been set and this SRM’s report aims to talk about the changes Italy
needs to be ready to face immediately and also to let the Mezzogiorno play a prominent role.
SRM
Study Centre based in Naples, connected to the Intesa Sanpaolo Group, originally an
intellectual and scientific safeguard, has the objective to improve the knowledge about the
territory in terms of infrastructural, productive and social assets with the European and
Mediterranean vision. Specialized in the analysis of regional dynamics, and with a particular
eye on the South of Italy, it also deals with the permanent monitoring of the relationships
between Italy and the Mediterranean and of the economic phenomena regarding the
maritime and logistics industry.
www.sr-m.it
€ 30.00