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16 Shipping and Shipbuilding Markets 2003 The BRS Web site www.brs-paris.com BRS offers a web site with regular updated information on international maritime transportation. In addition to the numerous pages with free access, BRS has available for clients PAGES WITH FREE ACCESS: data and on line services • Group profile adapted to their specific • Contacts for each department needs. • Annual review • Newsletters: – Weekly: dry cargo, crude oil and petroleum products – Monthly: liner shipping, LPG, sale and purchase PAGES WITH PRIVATE ACCESS: • A daily press report • Statistics (freights, prices, orderbooks…) • Weekly analyses • Specific studies
THE CRUISE MARKET IN 2002 After the drama of September 11, one could justifiably fear a difficult year for the cruise market, but very quickly bookings were back, and the cruise industry showed it was capable of confronting the worst kind of crisis. Within several months, bookings were close to their normal levels and owners were able to foresee a satisfactory year again, despite an inevitable drop in the net revenue per passenger. Cruise ships which avoided distant destinations were able to re-orientate themselves to shorter trips closer to their home base, and requiring less air travel. At the end of the year, the Cruise Lines International Association (CLIA) published some reassuring figures: the number of American cruise passengers should increase from 6,900,000 to 7,400,000 in 2002, a rise of 7 % with a load factor of 95 %. In Europe and Asia the load factor for the year should achieve 80 % and 75 % respectively, with the cruise industry finding it more difficult to develop the latter market. The predominant issue in 2002 has of course been the fight between Royal Caribbean Cruises (RCC) and Carnival Cruise Lines (CCL) to take control of P&O Princess. Having started the year before, this duel should reach a conclusion towards the end of the first quarter of 2003 with the marriage of CCL and P&O after having been approved by the European and American anti-trust authorities. By wishing to get closer to P&O, RCC might have provoked CCL into reacting, nonetheless the wisdom and rationality of such a marriage remains to be proven, as in comparison to other parts of the industry we have frequently had reason to question whether such mergers are necessarily beneficial to shareholders values, and a stimulus to the development of the market. The P&O Princess-CCL group, which will be quoted on the New York and London stock exchanges, will of course be the dominant (possibly overbearing) player in the cruise industry with nearly 50% of the The Cruise Market in 2002 17
Page 1 and 2: SHIPPING AND SHIPBUILDING MARKETS 2
Page 3 and 4: Once again we are outraged and help
Page 5 and 6: THE SHIPBUILDING MARKET IN 2002 The
Page 7 and 8: tives set at the beginning of the y
Page 9 and 10: Nb of vessels 60 50 40 30 20 10 0 T
Page 11 and 12: % 100 90 80 70 60 50 40 30 20 10 0
Page 13 and 14: Several European shipyards have gon
Page 15 and 16: % 100 90 80 70 60 50 40 30 20 10 0
Page 17: Prospects The 90’s were character
Page 21 and 22: in the more remunerative sectors of
Page 23 and 24: ◆ For Festival Cruises, the ‘Eu
Page 25 and 26: THE TANKER MARKET IN 2002 We tried
Page 27 and 28: US$/day 80,000 70,000 60,000 50,000
Page 29 and 30: The crisis that shook Venezuela in
Page 31 and 32: Minds more competent than ours will
Page 33 and 34: the ‘Afrapearl’, 86,417 dwt, bu
Page 35 and 36: US$/day 70,000 60,000 50,000 40,000
Page 37 and 38: The product tankers second-hand mar
Page 39 and 40: THE OFFSHORE AND SPECIALISED SHIPS
Page 41 and 42: Utilisation % 100 90 80 70 60 50 40
Page 43 and 44: Average reported day rates in £/da
Page 45 and 46: to become one of major importance i
Page 47 and 48: THE CHEMICAL CARRIER MARKET IN 2002
Page 49 and 50: number 20 18 16 14 12 10 8 6 4 2 0
Page 51 and 52: THE LIQUEFIED PETROLEUM GAS SHIPPIN
Page 53 and 54: ◆ The development of voyages conc
Page 55 and 56: Midsize carriers 22,000 to 43,000 c
Page 57 and 58: number 20 18 16 14 12 10 8 6 4 2 0
Page 59 and 60: THE LIQUEFIED NATURAL GAS SHIPPING
Page 61 and 62: Number of vessels 60 50 40 30 20 10
Page 63 and 64: approvals for deep-water oil projec
Page 65 and 66: LNG SHIPPING SOLUTIONS LNG Shipping
Page 67 and 68: THE DRY BULK MARKET IN 2002 The dry
Page 69 and 70:
up with a modest rise of 0,4 %. The
Page 71 and 72:
$/day 19,000 18,000 17,000 16,000 1
Page 73 and 74:
We have noted some 36 sales for fur
Page 75 and 76:
Market Cargoes Advancing with shipp
Page 77 and 78:
THE CONTAINERSHIP MARKET IN 2002 Th
Page 79 and 80:
Another factor which may have a str
Page 81 and 82:
$/day (Source: BRS-Alphaliner) 30,0
Page 83 and 84:
Maersk-SL + Safmarine Mediterranean
Page 85 and 86:
Ships of 2,000 to 3,000 teu One can
Page 87 and 88:
THE RO-RO MARKET IN 2002 Is the ro-
Page 89 and 90:
No ships 60 50 40 30 20 10 0 Ro-ro
Page 91 and 92:
THE REEFERSHIP MARKET IN 2002 Light
Page 93 and 94:
◆ During the autumn of 2002, P&O-
Page 95 and 96:
Million cu ft 400 390 380 370 360 3
Page 97 and 98:
THE MARINE INSURANCE MARKETS IN 200
Page 99 and 100:
Secondly, the drop in Stock Exchang
Page 101 and 102:
FRENCH SHIPYARDS DELIVERIES AND ORD
Page 103 and 104:
Chantiers Piriou Ships delivered in
Page 105 and 106:
Zhejiang (China) 093 Artha 2002 Pet
Page 108:
Shipbrokers since 1856 12-14, Rond-
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