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Drivers of port competitiveness
A new port study explores the multidimensional nature of “port competitiveness” arguing that port competitiveness and its drivers are significantly affected by major changes in maritime industry . The latest port study of PortEconomics member Francesco Parola, co-author with Marcello Risitano , Marco Ferretti and Eva Panetti (all at University of Naples "Parthenope") reviews research on port competitiveness that has so far focused on the identification of the drivers of port competitiveness and their measurement. The analysis...
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Governance of Chinese ports in a fast changing market environment
By Theo Notteboom China is home to the largest port system in the world, certainly in terms of cargo volumes. Chinese ports are subject to a unique port governance framework which differs from the traditional landlord port system found in most key ports around the world. Port governance in China is the theme of a recent academic port study had been developed by PortEconomics member Theo Notteboom together with Yang Zhongzhen. The study is now available online and will be part of a special issue of the academic journal 'Research in...
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Measuring the economic impact of inland ports in the Netherlands
The last decades, freight transport worldwide has grown substantial. The growing volumes put pressure on the European transport network, and affect directly the demand for capacity in the transport network from seaport to hinterland. The size and number of inland ports is increasing. Both from a societal and academic perspective, interest on inland ports is growing, assuming that inland ports are important links in port systems. Nevertheless, limited attention has been paid to the measurement of the economic impact of inland ports to the...
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GREPORT 2016: Report on Greek ports available in English
With total throughput 6.36 million tonnes of dry bulk cargo, 3.98 million TEUs, 28.23 million coastal passengers and 2.07 cruise passengers in 2014, Greek ports are important actors in local, national and regional level. In 2014, their turnover exceeded the €326 million. GREPORT 2016, the Report on Greek Ports by PortEconomics members Thanos Pallis and George Vaggelas is the first comprehensive record and analysis of the developments of the Greek port industry over the last decade. The port study, published by Port &...
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The Hanjin shipping bankruptcy: how big of an impact?
By Jean-Paul Rodrigue For many years, the shipping industry has been in a situation of overcapacity, which was depressing rates and impairing the profitability of shipping lines. To make matters worse, almost every major shipping line was ordering larger containerships, caught in a vicious circle of trying to boost profitability with economies of scale. Capacity was growing faster than demand. In such as setting, there were discussion and rumors within the industry about which major shipping company would fold first in an environment...
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IPOs in ports: the determinants of the long-term aftermarket performance
Financial markets, traditionally, have been a secondary source of funds for the port industry, compared with alternative financial resources such as retained earnings, governmental support and corporate bank loans (Stopford, 2009). Nonetheless, the amount of money required for upgrading extant infrastructures, developing mega-projects and fuelling private terminal operators’ overseas expansion made the traditional sources of capital inadequate. In this perspective, recent empirical evidence suggests that equity capital markets will extend...
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Three irrelevant reasons why Maersk & co should not invest in more ultra large container ships
By Jan Hoffman Chief, Trade Facilitation Section at UNCTAD (Linkedin) Containerships have never been bigger than today, container freight rates have never been lower, and never has so much container carrying capacity been idle. Not a trilemma, but three sides of the same coin. And after several years of calmness at the M&A front, we have new mergers among liner companies. In March 2016, the idle container ship fleet stands at 1.6 million TEU, and a shipper may pay less than 200 US$ to have his twenty foot container...
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Tackling uncertainty in green pricing of port infrastructure
Seaports are large networked infrastructures, which have considerable spatial impacts. Such infrastructures must be prepared to accommodate future developments within a context of stakeholder pressure. Similar to other large industrial operations generating substantial externalities, transport industries are large polluters. In 2012, it was noted that international shipping accounted for nearly 1,000 million tonnes of CO2, CH4 and N2O, an equivalent of 2,2% of global green house gas emissions. These levels are even expected to increase...
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