Economic importance of the Flemish maritime ports: Report 2002

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TABLE 25 SUMMARY OF THE CHANGES IN VALUE ADDED AT OSTEND FROM 1995 TO 2002(continued)(millions of euros)Sectors:indirect effects 50 1995 1996 1997 1998 1999 2000 2001 2002 Relativeshare in2002(in p.c.)Changefrom 1995to 2002(in p.c.)Annualaveragechange(in p.c.)Total maritime............... 89.0 82.0 - 4.9 116.5 73.8 49.9 35.0 - 68.8 - 46.3 - 177.3 - 196.4Total non-maritime....... 105.6 119.1 112.0 126.4 245.5 273.6 214.9 217.5 146.3 105.9 10.9Indirect effects.............. 194.6 201.0 107.1 242.9 319.3 323.5 249.8 148.6 100.0 - 23.6 - 3.8Total value added......... 395.8 415.1 332.4 492.4 602.8 589.0 581.8 472.6 - 19.4 2.6Source: NBB.General changesBetween 1995 and 2002, the port of Ostend's total VA increased by 19.4 p.c., which corresponds to + 2.6 p.c. perannum on average (table 25). In contrast to Ghent, this growth seems primarily to be due to the companies underreview since their VA increased by 61.1 p.c. over the same period (+ 7.0 p.c. per annum on average) whereas theindirect VA decreased by 23.6 p.c. (- 3.8 p.c. per annum). The striking feature of 2001 was its record growth indirect VA (+ 25.0 p.c.), following the year in which it recorded its worst fall (- 6.3 p.c.). Indirect VA rose in 1998(+ 126.8 p.c.) and 1999 (+ 31.5 p.c.) in particular, before then falling back sharply in 2002 (- 40.5 p.c.). The largestincrease in total VA was recorded in 1998 (+ 48.1 p.c.), while in 2002 it fell by 18.8 p.c. (its second worst fall afterthat of 1997), thus following the indirect VA pattern. During this last year, the VA of the port companies contractedby just 1.7 p.c. The total VA related to port activity for the port of Ostend therefore amounted to 472.6 million euro.2000 saw the ratio of indirect VA to direct VA settle at 121.8 p.c. at the port of Ostend, its highest level. The sharpfall witnessed in 2001 was confirmed in 2002, when this ratio reached no more than 45.9 p.c. The fall inproduction noted in the fishing sector is in keeping with this phenomenon (see below).Changes by cluster in direct effectsTable 25 shows the quite contrasting changes in VA by respective cluster. For the period under review, 1999 wasthe year in which all records were set: following the increases in the preceding years, the direct VA peaked at283.4 million euro. The maritime cluster and logistics services both recorded their biggest increases in 1998(+ 13.7 p.c. and + 24.2 p.c. respectively). In 2001, industry recorded its second sharpest increase after 1996(+ 41.1 p.c.). 2002 was characterised by a fall in direct VA (- 2.4 p.c.). Production related to the maritime clustertherefore fell by 18.8 p.c. The VA of the wholesale trade and industry segments was down by 9.6 p.c. and2.0 p.c. respectively. The VA for transport and logistics services gained 9.8 p.c. and 21.2 p.c. respectively.Changes by sector in direct effectsThe predominant sectors as far as VA is concerned are metal-working, other industries and chemicals, followed toa lesser extent by public services, other services, fishing and road transport. The direct VA of the port of Ostendrecorded its largest increases in 1999 (+ 13.6 p.c.) and 2001 (+ 25.0 p.c.). In 1999, the VA of the metal-workingindustry rose by 56.1 p.c. After RMT ceased trading, the outer port was redeveloped, freeing up vast areas,favourable to the development of new activities. Besides the metal-working industry, the chemicals industry hasalso benefited from these favourable circumstances and has seen its VA go up by 7.6 p.c. Following a slight fall in2000, and a moderate recovery in 2001 which only affected the port companies and was not enough to offset thedrop in indirect VA, the aforementioned record fall was the characteristic feature of 2002, particularly in themaritime cluster.At the port of Ostend, the major changes recorded in 2002 for the direct VA in the main sectors were as follows:• The VA of the metal-working industry decreased by 9.5 p.c. to 118.5 million euro. In the same year, the VAfor Daikin was down 9 p.c. to 116 million euro;• The direct VA of other services (including wholesale trade) increased by 14.9 p.c. to reach 47.2 million euro.The bankruptcy of Onderlinge Visafslag should be mentioned in this context;• Following two gloomy years, production in the chemicals industry recovered by 44.7 p.c. and its VA was35.7 million euro. The VA of Proviron Fine Chemicals grew by 17.5 p.c. to 16.7 million euro and the company50The breakdown of the indirect effects by sector for the period 1995 - 1999 can be found in annex 5 (table 53).46 NBB WORKING PAPER No.56 - JUNE 2004
concluded a contract with Tractebel to manage, operate and maintain the supplies and facilities on thePlassendale Chemie site;• The VA of fishing registered its biggest drop over the period, falling 42.2 p.c. to 17.5 million euro. Morubel,whose VA was worth 10 million euro in 2001, was incorporated into Morubel Holding (industry other thanfishing according to the NACE-Bel nomenclature); Stolt Sea Farm and De Zwerver lost 13 and 6 p.c.respectively of their VA, recording 2.6 and 1.1 million euro;• The VA of road transport increased by 9.4 p.c. to 18.5 million euro.VA Top 10 at the port of Ostend in 2002Daikin Europe, a company in the metal-working industry and specialising in the manufacture of air-conditioningsystems, heads this table. Proviron continues to expand, as demonstrated in particular by the growth ofProvironftal, a subsidiary which since 2001 has specialised in the production of phthalic anhydride and otherphthalates. Compared to 2001, a number of companies no longer figure in this table because they are not obligedto file annual accounts; this is the case with De Oesterbank, a non-profit-making organisation whose NACE-Belcode of 85.322 (« Protected Workshops ») is not comparable to that of any cluster or segment. The absence fromthis list of Hoverspeed Holyman Ltd is due to the fact that it is a foreign company which does not file accounts atthe Central Balance Sheet Office.TABLE 26 VALUE ADDED TOP 10 AT THE PORT OF OSTEND IN 2002(millions of euros)Ranking Company name Sector VA1 DAIKIN EUROPE NV Metal-working industry 116.32 PUBLIC ADMINISTRATION Public sector 25.73 BAGGERWERKEN DECLOEDT EN ZOON Other industries 21.44 PROVIRON FINE CHEMICALS Chemicals 16.75 PROVIRONFTAL Chemicals 13.06 MORUBEL HOLDING Other services 10.37 NAVY (DEFENCE ACTIVITIES) Public sector 7.88 TRANSPORT MAENHOUT Road transport 6.69 CHOCOLATERIE JACALI Food industry 6.110 INTERCOMMUNALE VOOR VUILVERWIJDERING... * Other industries 5.6Total 229.4Source: NBB.* INTERCOMMUNALE VOOR VUILVERWIJDERING EN -VERWERKING VOOR OOSTENDE EN OMMELANDNBB WORKING PAPER No. 56 - JUNE 2004 47
Page 3: AbstractThis paper provides an exte
Page 8 and 9: conditions than those in Europe in
Page 10 and 11: 1 INTERNATIONAL CONTEXTIn 2002 the
Page 12 and 13: average 41.1 p.c. of the traffic in
Page 14 and 15: The study goes on to describe some
Page 16 and 17: 3.1.2 Changes in indirect VAAs poin
Page 18 and 19: 3.3 Comparison of change in value a
Page 20 and 21: 3.5.1 Contract type and human resou
Page 22 and 23: GRAPH 4TOTAL NUMBER OF STAFF EMPLOY
Page 24 and 25: as a whole (0.8 p.c. in 2002). Desp
Page 26 and 27: • A slight decline in solvency wa
Page 28 and 29: 4.1.2 Value addedTABLE 7 SUMMARY OF
Page 30 and 31: • The car manufacturing rose by 4
Page 32 and 33: TABLE 9 SUMMARY OF CHANGES IN EMPLO
Page 34 and 35: TABLE 11 SUMMARY OF CHANGES IN INVE
Page 36 and 37: 4.1.5 Financial ratios (private com
Page 38 and 39: 4.2 Port of Ghent4.2.1 Significant
Page 40 and 41: TABLE 16 SUMMARY OF CHANGES IN VALU
Page 42 and 43: 4.2.3 Salaried employmentTABLE 18 S
Page 44 and 45: At the port of Ghent, the major cha
Page 46 and 47: investments was seen (+ 26.9 p.c.),
Page 48 and 49: Binnenvaart Bulk en Container Trans
Page 50 and 51: 4.3 Port of Ostend4.3.1 Significant
Page 56 and 57: Changes by sector in direct effects
Page 58 and 59: continued in 2002. Hence, investmen
Page 60 and 61: TABLE 32RATIOS BY SECTORSectorsRetu
Page 62 and 63: 4.4 Port of Zeebrugge4.4.1 Signific
Page 64 and 65: TABLE 34(continued)SUMMARY OF THE C
Page 68 and 69: • Following two good years for th
Page 70 and 71: 36.0 p.c. in industry and by 51.9 p
Page 72 and 73: By sectorTABLE 41RATIOS BY SECTORSe
Page 74 and 75: 5 SUMMARY OF THE MAIN RESULTS AND P
Page 76 and 77: 5.2 Prospects for the Flemish marit
Page 78 and 79: List of abbreviationsd.w.t.ESA 95EU
Page 80 and 81: TABLE 45CLUSTERSClustersNACEcodesDe
Page 82 and 83: 3.2 SelectionNon-maritime companies
Page 84 and 85: Comment: This is why there is a two
Page 86 and 87: o 3413 early retirement (*)o 3423 d
Page 88 and 89: 5.2 Estimation of indirect effects5
Page 90 and 91: means that this value grew by 4.0 p
Page 92 and 93: 86 NBB WORKING PAPER No.56 - JUNE 2
Page 94 and 95: - ten zuiden: het kanaal Plassendal
Page 96 and 97: Haven van Gent - Port de Gand - Por
Page 98 and 99: Haven van Zeebrugge - Port de Zeebr
Page 100 and 101: Suttak Nace-bel Cluster Sector Defi
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Suttak Nace-bel Cluster Sector Defi
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ANNEX 4:LIST OF PUBLIC ADMINISTRATI
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1.2 EMPLOYMENTTABLE 50SUMMARY OF TH
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TABLE 59BREAKDOWN OF FINDINGS BY CL
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TABLE 63BREAKDOWN OF FINDINGS BY CL
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Table 65(continued)SOCIAL BALANCE S
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ANNEX 8: MARITIME TRAFFIC BY PORT I
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ANNEX 9:GLOSSARY AND MARITIME TRANS
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3 Intermodality 86In the transport
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KB Weekly Bulletin no. 51/16 (May 1
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NATIONAL BANK OF BELGIUM - WORKING
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53. « Does Financial Liberalizatio
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