Economic importance of the Flemish maritime ports: Report 2002

4.3.4 InvestmentTABLE 29 SUMMARY OF THE CHANGES IN INVESTMENT AT OSTEND FROM 1995 TO 2002(millions of euros)Sectors(direct effects)1995 1996 1997 1998 1999 2000 2001 2002 Relativeshare in2002(in p.c.)Changefrom 1995to 2002(in p.c.)Annualaveragechange(in p.c.)Maritime clusterShipping agents andforwarders ................... 0.3 1.6 0.1 0.3 0.5 0.7 0.8 0.5 0.8 58.2 6.8Cargo handlers ........... 0.4 0.8 0.8 2.7 8.6 9.1 5.3 4.6 7.5 1,079.5 42.3Shipping companies ... 111.9 1.0 0.0 0.6 0.0 0.0 0.0 0.6 0.9 - 99.5 - 53.2Other services............. 0.0 0.0 0.0 0.0 0.2 0.2 0.0 0.1 0.1 - -Fishing......................... 5.9 12.2 5.7 11.0 17.8 19.1 6.8 4.0 6.5 - 32.1 - 5.4Shipbuilding andrepair........................... 0.9 0.2 0.4 0.7 2.9 2.3 0.8 0.4 0.6 - 57.5 - 11.5Other industries........... 1.4 0.9 30.4 18.7 42.7 6.2 0.8 0.6 0.9 - 59.5 - 12.1Public sector ............... 0.6 2.8 1.5 1.9 0.0 0.0 1.7 0.0 0.0 - 100.0 - 100.0Total maritime ........... 121.4 19.5 38.9 35.9 72.6 37.6 16.3 10.7 17.4 - 91.2 - 29.4Non-maritime clusterTotal wholesale trade.. 5.4 3.5 7.0 10.4 7.0 7.4 4.3 6.0 9.8 11.7 1.6Energy......................... 0.0 0.0 0.1 0.1 0.1 0.2 0.1 0.0 0.0 - -Oil industry .................. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 - -Chemicals ................... 3.1 10.5 8.9 18.5 12.5 20.6 7.6 7.3 12 140.6 13.4Car manufacturing ...... 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 - -Electronics .................. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 - -Metal-working industry 6.2 5.0 7.2 11.3 11.8 14.0 17.3 7.7 12.6 25.3 3.3Food industry .............. 0.6 0.0 0.0 0.0 1.3 0.3 4.0 1.0 1.6 56.6 6.6Other industries........... 1.6 1.5 1.2 0.8 0.7 0.8 1.2 0.7 1.1 - 57.5 - 11.5Total industry .............. 11.5 17.0 17.5 30.8 26.4 35.8 30.2 16.8 27.4 46.1 5.6Other services............. 4.0 1.8 2.2 1.1 2.3 2.6 5.4 7.6 12.5 89.1 9.5Other industries........... 0.0 0.0 0.0 4.4 0.7 0.4 0.4 1.4 2.2 - -Public sector ............... 13.0 16.7 23.7 19.6 16.1 17.4 6.2 12.0 19.5 - 8.1 - 1.2Total logistics services 17.0 18.5 25.9 25.2 19.2 20.4 12.0 21.0 34.2 23.0 3.0Road transport ............ 3.3 2.5 2.7 3.4 2.6 3.7 4.5 3.4 5.6 3.5 0.5Other services............. 0.2 0.5 0.8 1.0 0.4 0.5 1.4 3.5 5.7 1534.5 49.1Total transport............. 3.5 3.0 3.5 4.4 3.0 4.2 5.9 6.9 11.3 96.8 10.2Total non-maritime ... 37.4 42.0 53.9 70.9 55.6 67.8 52.3 50.7 82.6 35.4 4.4Direct effects ............. 158.8 61.5 92.8 106.8 128.3 105.4 68.6 61.3 100.0 - 61.4 - 12.7Allocation (p.m.).......... 4.7 10.7 2.7 5.3 10.6 7.9 3.8 2.8 - - 39.8 - 7.0Source: NBB.General changesOver the period under review, the total investment at the port of Ostend fell by an average of 12.7 p.c. per annum(table 29). The sharpest fall in the total was recorded in 1996 (- 61.3 p.c.), the year when investments at RMTceased (the « Regie » acquired the Prins Filip ferryboat in 1995). The trend then rose in 1997, in particular withregard to port infrastructures, increasing by 50.8 p.c. in total. On the other hand, over the last three years, therewas a sustained fall in investment: of 17.8 p.c. in 2000, 35.0 p.c. in 2001 and 10.6 p.c. in 2002, the year for whichinvestment at the port of Ostend reached 61.3 million euro, 2.8 million of which were from allocation.Changes by clusterFrom 1995 to 2002, the most noticeable changes in investments at the port of Ostend were in the maritimecluster. At this level, the sharpest fall (- 83.9 p.c.) was observed in 1996 (table 29). This can be explained to avery great extent by the cessation of investments at RMT. 1997 saw an improvement in investments at the port ofOstend. For the maritime cluster, growth was 100.0 p.c., as was also the case for the wholesale trade segment,while growth for the logistics services was 39.7 p.c. The rise continued until 1999, followed by a structural declinein 2000, the year when RMT officially ceased trading. This downturn was confirmed in 2001 and the trendNBB WORKING PAPER No. 56 - JUNE 2004 51