Economic importance of the Flemish maritime ports: Report 2002

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By sectorTABLE 41RATIOS BY SECTORSectorsReturn on equity after tax(in p.c.)Liquidity in broad senseSolvency(in p.c.)2000 2001 2002 2000 2001 2002 2000 2001 2002Shipping agents andforwarders .............................. 5.2 9.4 7.8 1.0 1.0 0.9 18.9 25.2 22.5Cargo handlers ...................... 3.1 4.2 8.3 0.8 0.8 1.0 59.3 61.3 65.7Shipping companies .............. - 3.7 - 1.2 2.9 3.2 3.7 3.2 71.1 73.6 73.8Road transport ....................... 5.8 8.3 12.0 0.9 1.1 1.2 37.1 43.1 44.6Other services........................ 0.8 2.6 0.7 1.1 1.4 1.4 30.6 37.8 39.8Energy.................................... 18.0 9.3 11.4 1.3 1.4 1.7 26.5 48.6 52.0Oil industry............................. n. n. n. n. n. n. n. n. n.Chemicals .............................. 24.9 18.8 18.4 1.5 1.3 1.2 41.6 42.8 42.9Shipbuilding and repair.......... 11.5 12.6 9.0 1.1 1.2 1.4 18.4 23.4 33.8Car manufacturing ................. 19.5 10.8 11.0 1.6 1.4 2.4 68.2 49.6 66.3Electronics ............................. 14.5 - 14.9 - 388.9 1.5 1.2 1.8 50.9 47.1 14.0Metal-working industry........... 2.6 18.2 4.5 1.1 1.1 1.2 29.2 31.3 31.6Fishing ................................... - 3.5 12.5 1.7 0.8 0.7 0.6 28.1 27.2 30.8Food industry......................... 4.4 - 7.3 - 25.5 1.2 1.2 1.0 25.1 24.5 21.0Other industries ..................... 5.0 5.0 3.3 1.1 1.2 1.5 31.6 34.7 38.9Public sector .......................... n. n. n. n. n. n. n. n. n.Weighted average................ 5.5 5.9 2.8 1.2 1.2 1.3 37.6 43.4 45.2Source: NBB.• The average profitability of those companies at the port of Zeebrugge fell substantially in 2002. Industry wasdirectly affected by this drop, mainly metal-working, other and electronics industries (table 41). For the latter,changes can be explained by the drastic financial restructuring programme at Philips Industrial Activitieswhere record losses were recorded (nearly 142 million euro for the Bruges-Zeebrugge site in 2002);• Liquidity increased slightly in 2002, especially in the electronics industry. The liquidity ratio for PhillipsIndustrial Activities advanced from 1.1 to 1.8;• Solvency increased, especially in the maritime cluster – principally in the cargo handling, fishing and othermaritime industries sectors: Belgian New Fruit Wharf, Brugse Visrokerij Alloo and Baggerwerken Decloedt enZoon in particular witnessed a sharp fall in their debts.66 NBB WORKING PAPER No.56 - JUNE 2004
4.4.6 Cargo traffic in the port of Zeebrugge in 2002SummaryTABLE 42ZEEBRUGGE(thousands of tonnes)Unloaded Loaded Total 2002 Change 2001- 2002(in p.c.)Share 2002(in p.c.)Containers................ 5,260 6,605 11,865 12.1 36.1Roll-on/roll-off........... 5,636 8,015 13,651 - 4.9 41.4Other general cargo. 638 148 786 - 23.8 2.4Liquid bulk................ 4,042 880 4.922 18.9 14.9Dry bulk.................... 1,667 45 1,712 - 13.4 5.2Total......................... 17,243 15,693 32,936 + 2.7 100.0Source: Vlaamse Havencommissie Annual Report 2002Following an average annual fall in traffic of 1.2 p.c. since 1998, a 2.7 p.c. increase was observed in 2002, due togrowth in the container transport lines (36.0 p.c. of total goods transhipped at Zeebrugge). Given the importanceof this activity, the port authorities have for several years been working towards establishing a structure that wouldenable organisational improvements in container transportation via rail, coastal and inland waters to be made.This initiative, now called PortConnect, enabled 65,000 TEU, or 715,000 tonnes, to be transported in 2002. Thedecrease in transhipment of dry bulk is attributable to a fall in sand and gravel supplies. The increase in liquid bulkis due to liquid natural gas (LNG) distribution, which grew by 49.4 p.c. The fall observed in Ro-Ro volumes can beexplained by the decline in traffic with the United Kingdom, in particular following the restructuring of the P&Ofleet. More than 770,000 passengers passed through Zeebrugge port in 2002.For those interested additional information on cargo traffic at the port of Zeebrugge in 2002 is presented intable 69 of annex 8, by categories of goods.4.5 Breakdown of findings by company sizeThis relates only to the findings for port companies in the narrow sense (before allocation of the findings forcompanies situated outside the port areas).TABLE 43 SUMMARY OF FINDINGS BY PORT IN 2002Number of companiesDirect value addedDirect salaried employmentInvestment(millions of euros)(in FTE)(millions of euros)PortLargeSMEsLargeSMEsLargeSMEsLargeSMEscompaniescompaniescompaniescompaniesAntwerp 342 1,112 6,530.2 406.2 53,796 5,676 1,392.0 89.3Ghent 169 508 2,744.6 184.4 25,656 2,653 768.3 34.1Ostend 29 224 263.2 50.6 3,097 862 42.1 16.4Zeebrugge 69 314 554.1 109.1 7,691 1,774 86.9 23.1Total 609 2,158 10,092.1 750.4 90,241 10,965 2,289.3 162.9Source: NBB.The large companies, which in quantitative terms represent only one-fifth of the companies under review,accounted for a total of 89.2 p.c. of overall staff and were responsible for 93.1 p.c. of the VA undertaken in thefour ports. They absorbed 93.4 p.c. of the amounts invested. A breakdown by sector is given in annex 6.NBB WORKING PAPER No. 56 - JUNE 2004 67
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AbstractThis paper provides an exte
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conditions than those in Europe in
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1 INTERNATIONAL CONTEXTIn 2002 the
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average 41.1 p.c. of the traffic in
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The study goes on to describe some
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3.1.2 Changes in indirect VAAs poin
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3.3 Comparison of change in value a
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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 52 and 53: TABLE 25 SUMMARY OF THE CHANGES IN
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 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
Page 102 and 103: Suttak Nace-bel Cluster Sector Defi
Page 104 and 105: ANNEX 4:LIST OF PUBLIC ADMINISTRATI
Page 106 and 107: 1.2 EMPLOYMENTTABLE 50SUMMARY OF TH
Page 114 and 115: TABLE 59BREAKDOWN OF FINDINGS BY CL
Page 116 and 117: TABLE 63BREAKDOWN OF FINDINGS BY CL
Page 118 and 119: Table 65(continued)SOCIAL BALANCE S
Page 120 and 121: 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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