Review of Maritime Transport 2010 - Unctad

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12 Review of MaRitiMe tRanspoRt 2010 Figure 1.3. (a) World seaborne trade, by country group and region, 2009 (percentage share in tonnage) 70 60 50 40 30 20 10 0 Developed economies Developing economies Transition economies Loaded Unloaded Loaded Unloaded Source: Compiled by the UNCTAD secreariat on the basis of data supplied by reporting countries and as published on the relevant government and port industry websites, and by specialist sources. During the fourth quarter of 2008, the outlook for the dry bulk sector was looking bleak when the plummeting Baltic Exchange Dry Index (BDI) made the headlines. In tandem with the BDI, steel production – the main driver of dry bulk shipments (fig. 1.4 (a)) – fell sharply in 2009 (by 8.0 per cent); this brought total output down to 1,219.7 million tons (compared to 1,326.5 million tons in 2008). 28 A the same time, world demand for steel contracted by 6.7 per cent in 2009, with the total volume standing at 1,124.3 million tons. 29 Surprisingly, however, the dry bulk market, driven mainly by strong demand from China, did not perform as badly as expected, with volumes of iron ore – the key raw input material used for the production of steel – performing particularly well. iron ore shipments Together with coking coal, iron ore is the main ingredient used in the production of steel. The major iron ore producers include Australia, Brazil, Canada, China, India, the Russian Federation, South Africa, Sweden and the United States. The key players in the sector continue to be Vale in Brazil, BHP Billiton, and Rio Tinto (Australia/United Kingdom). With the failure of an earlier attempt by BHP Billiton to take over Rio Tinto, a non-binding agreement was signed between the two companies in 2009. The joint venture represents a major collaboration within the global iron 60 50 40 30 20 10 0 Africa Americas Oceania Asia Europe ore industry. Another important development relating to iron ore is the rapidly evolving pricing system, which will make the annually negotiated fixed contract prices less relevant in the future. Short-term quarterly benchmark prices are introducing a more dynamic pricing system and are replacing the annual contracts which prevailed for over 40 years. 30 The world’s iron ore shipments were estimated at 907 million tons in 2009, an increase of 8.6 per cent over 2008. Major exporters included Australia, Brazil, India and South Africa, while smaller exporters included Canada, Mauritania, Peru and Sweden. Together, Australia and Brazil accounted for about 70.0 per cent of world iron ore exports; Australia remained the world’s largest exporter with 362.4 million tons (an increase of more than 17.0 per cent compared to 2008). Exports from Brazil amounted to 266.0 million tons, a drop of 5.6 per cent measured against 2008. Figure 1.4 (b) highlights the main iron ore importers and exporters in 2009. Surging iron ore imports into Asia more than offset the falling imports in other regions, and they help to explain the resilience shown by the dry bulk market in 2009. The engine of growth was China, whose iron ore imports increased dramatically (by 40.1 per cent over 2008), owing in particular to the Chinese Government’s fiscal stimulus package, which boosted domestic demand for steel at a time when the export
CHapteR 1: DeveLopMents in inteRnationaL seaBoRne tRaDe 13 Figure 1.3. (b) Developing countries’ seaborne trade, selected years (percentage share in tonnage) Source: 70 60 50 40 30 20 10 0 1970 1980 1990 2000 2005 2006 2007 2008 2009 Loaded Unloaded Review of Maritime Transport, various issues. market was depressed. This was reflected in robust growth in China’s steel production, which expanded by 13.5 per cent to reach around 568 million tons, and which allowed China to remain the world’s leading steel producer. Other major importers included Japan (24.8 per cent less than in 2008), Western Europe (38.2 per cent less than in 2008) and the Republic of Korea (14.6 per cent less than in 2008). With the exception of Egypt, India, the Islamic Republic of Iran, and Qatar, all other smaller importers, such as Taiwan Province of China and Pakistan, reduced their iron ore imports. Looking ahead, global iron ore trade volumes are expected to expand by 7.9 per cent in 2010. While China’s exceptional performance in 2009 is not expected to be repeated in 2010, China will, nevertheless, continue to power growth in the global iron ore trade. As China continues to actively invest in overseas ventures in Africa, Australia and South America to provide raw materials to its growing economy, demand for bulkers and trade flow patterns are likely be affected, including through potential increases in distances travelled and ton-miles. coal shipments In 2009, the volume of coal shipments (thermal and coking) totalled 805 million tons, a volume equivalent to the 2008 level (799 million tons). Thermal coal exports increased by around 2.1 per cent and reached 590.0 million tons (73.3 per cent of world coal shipments). Shipments of coking coal, which is also used in steel production, fell by 2.7 per cent to 215 million tons. Together, Australia and Indonesia accounted for 62.2 per cent of the world’s thermal coal shipments, with Indonesia remaining the world’s leading exporter. Indonesia increased its thermal coal exports by a solid 16.8 per cent to reach 233.5 million tons, while Australia increased its thermal coal exports by around 7.1 per cent. Other major thermal coal exporters in 2009 included China, Colombia, the Russian Federation, South Africa and the Bolivarian Republic of Venezuela. Major coal importers and exporters are shown in figure 1.4 (c). As regards coking or metallurgical coal used in steel production, Australia remained the world’s largest exporter, with a total of 138 million tons – a marginal increase of about 1.0 per cent over 2008. Australia is well positioned to increase its share of global trade, given the number of mine expansions for coking coal scheduled to be developed over the next five years. These expansion plans suggest a firm commitment both by mines and by infrastructure operators and owners to support the long-term growth of Australia’s export coking coal industry. To benefit from the significant export opportunities associated with these expansion plans, a number of major port infrastructure
Page 1 and 2: United nations ConferenCe on trade
Page 3 and 4: ii NOTE Review of MARitiMe tRANspoR
Page 5 and 6: CoNteNts ACKNOWLEDGEMENTS The Revie
Page 7 and 8: CoNteNts 7. Review of regional deve
Page 9 and 10: CoNteNts 7.4. World’s 10 busiest
Page 11 and 12: CoNteNts ABBREvIATIONS AND EXPLANAT
Page 13 and 14: List of AbbReviAtioNs rta regional
Page 15 and 16: Vessel groupings used in the Review
Page 17: exeCUtive sUMMARy Freight rates 200
Page 20 and 21: 2 A. World economic SituAtion And P
Page 22 and 23: 4 - were surpassing the pre-crisis
Page 24 and 25: 6 Table 1.2. Growth in the volume a
Page 26 and 27: 8 remaining single-hull tankers, ev
Page 28 and 29: 10 Table 1.4. World seaborne trade
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Page 36 and 37: 18 goods are mainly carried by cont
Page 38 and 39: 20 Figure 1.6. Global container tra
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Page 48 and 49: 30 a. structure of the world fleet
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Page 52 and 53: 34 Container production and leasing
Page 54 and 55: 36 Table 2.5. Age distribution of t
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Page 72 and 73: 54 Table 2.12. World tonnage on ord
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3 PRODUCTIVITY OF THE WORLD FLEET,
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CHapteR 3: pRoDUCtivitY of tHe woRL
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74 Introduction to freight rates Th
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76 Figure 4.1. Tanker freight marke
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78 in 2009 equated to approximately
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80 exporter, with an expected marke
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82 amounted to 32,594,000 tons in J
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84 Table 4.3. Dry cargo freight ind
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86 Table 4.4. Container ship time c
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88 Table 4.5. Freight rates (market
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90 Figure 4.6 . Quarterly average l
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92 Review of MaRitiMe tRanspoRt 201
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94 A. port developments Container p
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98 Table 5.3. Average LSCI rankings
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100 Improvements in port performanc
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102 ore storage shed, two warehouse
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104 Table 5.6. Road transportation
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106 Figure 5.3. Trans-African highw
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108 Table 5.8. Major world railway
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110 Table 5.8. Major world railway
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114 Table 5.13. Extent of physical
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116 endnotes Review of MaRitiMe tRa
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118 A. LEGAL ISSUES AND REGULATORY
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120 Index (EEDI) and on the Energy
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122 (ii) Another proposal, which hi
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124 basic approval to a further eig
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126 Businesses that are awarded the
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128 unanticipated delays resulting
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130 participants from developing co
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132 more than 65 international labo
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134 C. THE WTO NEGOTIATIONS ON TRAD
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136 ENDNOTES Review of MaRitiMe tRa
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142 A. ECONOMIC SItuAtION ANd PrOSP
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144 Table 7.1. Asia-Pacific economi
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148 share of exports to developing
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150 busiest seaports In 2009, the 1
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152 Table 7.7. Container port throu
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156 Table 7.10. Merchant fleet by f
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158 Box 7.1. The ASEAN Single Windo
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160 certificates of origin (fig. 7.
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162 Figure 7.8. A snapshot of tradi
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164 Figure 7.11. Number of days nec
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166 Box 7.3. Lessons learned from a
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168 has hit Asian countries and sub
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statistical annex I. Classification
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statistical annex 173 Annex I. Clas
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statistical annex 175 Annex I. Clas
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statistical annex 177 Annex II. Wor
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statistical annex 179 Annex III. (a
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statistical annex 185 Annex III. (b
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statistical annex 187 Annex III. (b
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statistical annex 189 Annex IV. UNC
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statistical annex 191 Annex IV. UNC
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QUESTIONNAIRE Review of Maritime Tr
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