SHIPPING activities contribute an estimated EUR145 billion (US$199.7 billion) to the European economy, with the amount of registered tonnage in the European Union growing 70 per cent in gross tonnage terms since 2005.
But a study commissioned by the European Community Shipowners' Associations (ECSA) shows that the number of ships flagged in Europe grew at a slower rate, reflecting the trend towards larger vessels that offer greater economies of scale.
At the start of the year, the EU controlled 40 per cent of world gross tonnage, down from 41 per cent in 2005.
This reflects that EU shipping companies continue to face strong competitive pressure from other rapidly growing centres of world shipping, particularly in Asia and the Middle East, reported Lloyd' List.
Greece has the largest controlled fleet within Europe, equivalent to 36 per cent of gross tonnage. Germany represents a further 21 per cent of gross tonnage.
The EU-controlled fleet is dominated by three types of vessel: bulkers at 28 per cent of gross tonnage, oil tankers at 25 per cent and containerships at 25 per cent.
Offshore vessels recorded the strongest growth over the period under review. The EU's share of the world offshore fleet rose from 28 per cent in 2005 to 37 per cent in 2014 in gross tonnage terms.
In 2012, the EU shipping industry is estimated to have directly contributed EUR56 billion to GDP, employing 590,000 people and generating tax revenues of EUR6 billion.
It is estimated that four-fifths of posts, or 470,000 jobs, are based at sea. It is tentatively estimated that 40 per cent of these seafarers are EU or European Economic Area (EEA) nationals.
There were 38,000 students/cadets in maritime academy training in 2012, an 11 per cent increase from 2004.
Said ECSA secretary general Patrick Verhoeven: "The EU shipping industry continues to stay its ground in these hard times against fierce competition from third-country shipping centres, particularly those in Asia and the Middle East."
WORLD SHIPPING
08 April 2014 - 04:02
EU-controlled tonnage rises 70pc, but growth slows with bigger ships
SHIPPING activities contribute an estimated EUR145 billion (US$199.7 billion) to the European economy, with the amount of registered tonnage in the European Union growing 70 per cent in gross tonnage terms since 2005.
WORLD SHIPPING
08 April 2014 - 04:02
EU-controlled tonnage rises 70pc, but growth slows with bigger ships
This news 8456 hits received.
These news may also interest you