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  • 1. la nueva dimension de los puertos en el siglo XXI professor enrico musso università di genova dipartimento di economia e metodi quantitativi www.enricomusso.it Transportes marítimos y gestión portuaria Vigo, 27 de noviembre 2003 Instituto de estudios económicos de Galicia Fundación Pedro Barrié de la Maza
  • 2. Summary • The new port economics: – Changes in the economy – Changes in the transport industry – Consequences on demand of port services – Consequences on production and supply – The present scenario: new threats and new opportunities • The market structure of port industry – Competition and competitiveness – Port selection criteria – Is there an optimal size for ports and port terminals? – Vertical integration: the dedicated terminals – Horizontal integration: port networking • Micro and macro economic impacts • The role of ports and the agenda for policy makers
  • 3. Summary • The new port economics: – Changes in the economy – Changes in the transport industry – Consequences on demand of port services – Consequences on production and supply – The present scenario: new threats and new opportunities • The market structure of port industry – Competition and competitiveness – Port selection criteria – Is there an optimal size for ports and port terminals? – Vertical integration: the dedicated terminals – Horizontal integration: port networking • Micro and macro economic impacts • The role of ports and the agenda for policy makers
  • 4. The growth in world seaborne trade (millions of tons) 6000 5000 4000 3000 2000 1000 0 1929 1950 1957 1967 1973 1979 1984 1987 1990 1994 1998 2000 1950: 100 2000: 1104
  • 5. Shipping and the world economy • The growth of the world economy and the growth in world seaborne trade interact through labour specialisation and widening of markets shipping Enlarging Speciali Growth of markets sation world economy
  • 6. Some dramatic changes... • In the economy – The boost of seaborne trade (from 525 Mt in 1950 to 5800 Mt in 2000) – Spatial relocation of production – The growing importance of logistics • In maritime transport – Ships’ size – Specialisation – Unitisation (containerisation) – Transhipment • In the industrial organization of transport industry: – Cooperation: SAs, M&As, vertical integration, – control of intermodal and logistic cycles , logistics outsourcing
  • 7. Some dramatic changes... • Port operations become: – more capital intensive – labour saving – space consuming • In port market: – more competition between ports, lower tariffs and lower ports times (pressures from liners) – risk of overcapacity, – decreases in producer’s (terminal operator) surpluses and increases in demand (liners, MTOs) surpluses (caption of port economic rent) • In port economies: – relocation of formerly port-oriented industries – weaker spatial links with the port (intermodality, transhipment...)
  • 8. …and some of their consequences • Reduction of transport costs, increase in demand • “port costs” (costs of the port node for the transport industry, i.e. port + ship generalised costs) shift from ships to terminals • port service inputs shift from labour to capital and to land • space consumption and negative externalities are bigger, because of containerisation, overcapacity caused by port competition, dramatic increases in throughputs • the positive impact of ports tend to spread from local economy to national/global economy, including the hinterland and the shippers  Changes can cause gaps in spatial distribution of costs and benefits
  • 9. The present scenario •“Volatility” of lines •Hinterland Overlapping •Higher market power for shipping lines (M&A, Strategic alliances) •Increasing pressures aiming at : • reducing costs • reducing times in ports • increasing flexibility in services • enhancing ad hoc contracts Ports/terminals as the weakest contractual part •demand-driven planning and development •Overcapacity •search for short term competitive advantages
  • 10. 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 0 carriers top10 (av.) liners carriers top20 (av.) log. Prov. T-10 log. Prov. T-20 PSA P&O Ports Hutchison Wampoa SSA (Bloome, 2000) ECT (Rotterdam) Hessenatie Terminal operators (port logistics prov.) HHLA (Hamburg) Revenues global players, 1998, in million USD RMPM (Rotterdam) Antw erp PA PA Genoa PA
  • 11. Summary  The new port economics: – Changes in the economy – Changes in the transport industry – Consequences on demand of port services – Consequences on production and supply – The present scenario: new threats and new opportunities • The market structure of port industry – Competition and competitiveness – Port selection criteria – Is there an optimal size for ports and port terminals? – Vertical integration: the dedicated terminals – Horizontal integration: port networking • Micro and macro economic impacts • The role of ports and the agenda for policy makers
  • 12. Port competitiveness: what exactly do we mean? • Competition requires competitiveness • “Competitive”: who vs. whom? – Another terminal operator or company in the same port? – Another port? • In the same “range“ (= same coastline, same hinterland)? • In another “port range”? • Relevant scale / player: – port terminal / stevedoring company – port cluster / port authority – port range
  • 13. Port competitiveness: players, competition and traffic FIRMS Companies: One commodity Intra - ports TOs Specialization Inter - ports Stevedoring Co. Integrat. in supply ch LOCAL Port Authorities Inter - ports Many commodities Port Bodies Inter - clusters Land use Services ? NAT Inter - clusters All commodities (Governments?) Overall performance Inter - range (“Port systems”?) Land transp networks
  • 14. Port competitiveness: a matter of points of view… Players / stakeholders have different goals MANAGEMENT GOVERNANCE Forwarders Citizens MTOs Shippers Land carriers Port Port (local) operators authority governmt Lobbies Shipowners Business comm. EFFICIENT COMP EFFECTIVE COMP SUSTAINABLE COMP
  • 15. Competitiveness and competition: The market structure of port industry Competion implies competitiveness: What about industrial organisation? Which is the degree of competition / contestability of the market? Is there an “optimal size” for port terminals and ports? Which is the bargaining power of different players? Which is the degree of integration? •Vertical integration (e.g.: dedicated terminals) •Horizontal integration (port networks; stevedoring groups)
  • 16. Which are the criteria for selecting a port? Port competition Port selection Who are the economic players involved? What is the competitive advantage? Which elements influence the competitive advantage? Does the port/terminal operator control them?
  • 17. Port selection: players and criteria • PLAYERS: • shippers • carriers • CRITERIA • “Product, Price and Promotion decide for Place” (Kottler) • Current trend: a shift from “price” (port duties/taxes, handling tariffs, etc.) to “product” (service time, reliability, service to ships, service to goods) terminal port overall Handling prices Nautical services Hinterland Priority / Time windows (pilotage, mooring, towing) Labour organisation Congestion Connectivity and accessibility Inland transprt networks Equipment Port planning Port models Ratio of cargo handled Services to cargo <Capacity> <Capacity>
  • 18. Issues in competitiveness: the optimal size of the terminal High bargaining power High time costs of the ship for the ship vs the port terminal Need to reduce port times Increase in terminal Time windows Size/capacity Dedicated terminals
  • 19. Issues in competitiveness: vertical integration and dedicated terminals Time reduction No queues Cooperation Vertical integration Time windows Concession Dedicated terminals
  • 20. Effects of dedicated terminals on transit time: better scheduling of the service (reduced uncertainty on ship arrivals) no or little queueing time on quality / reliabity of service Service less variable and more reliable (“learning capacity” effect for the terminal operator who manages the “standard” fleet of the specific liner) standardisation in loading operations and yards’ management Pros: Cons: • Stronger link with main clients • Risk of loosing clients (for other users: • Securing investments by carriers increasing queuing times, lower service rates, more congested yards) • Barriers to entry
  • 21. M a in d e d ic a t e d te r m i n a ls in 2 0 00 A s ia N o r th A m e ric a E u ro pe ha ha ha NYK 74 h a NYK ha M a e rs k -S e a L a n d 209 h a T okyo 21 h a S e a t t le 1 6 h a S eaL an d 76 h a Y okoham a 15 ha L o s A n g e le s 5 4 ha K obe 25 h a O a k la n d 1 6 h a R o tte rd a m 5 6 h a T a iw a n 1 3 h a MO L ha A lg e c ir a s 2 0 h a M O L 90 ha M a e rs k 1 3 3 h a S e a t t le 1 5 h a T okyo 22 h a L o s A n g e le s 3 6 ha A lg e c ir a s 2 8 h a Y okoham a 10 ha O a k la n d 1 4 h a R o tte rd a m 7 5 h a K obe 20 h a K L in e ha B re m e n 3 0 h a O saka 8 h a M essin a 17 h a T a iw a n 3 0 h a T acom a 14 h a K L in e 7 4 h a Long B ea ch 40 ha G enoa 17 ha O a k la n d 1 2 h a CP S h ip s T okyo 21 h a APL ha Y okoham a 8 h a K obe 12 h a A n tw e rp S e a t t le 4 2 h a O saka 20 h a MSC L o s A n g e le s 5 2 ha T a iw a n 1 4 h a O a k la n d 3 3 h a A P L 79 h a S eaL an d ha A n tw e rp E v e rg re e n Y okoham a 10 h a T acom a 40 h a K obe 9 h a Long B ea ch 44 h a T a re n t o T a iw a n 6 0 h a O a k la n d 2 7 h a S in e s M a e rs k -S e a L a n d 1 6 6 h a N Y /N J 1 0 3 h a P & O N e d d l o yd M a e rs k h a T okyo 22 h a T a iw a n 2 6 h a R o tte rd a m T acom a 16 h a H ong K o ng 17 h a Long B ea ch 43 ha Y okoham a 22 h a O a k la n d 1 9 h a K obe 25 h a N Y /N J 2 6 h a Y okoham a 18 h a E v e rg re e n h a K obe 25 h a T a iw a n 1 3 h a E v e rg re e n 4 0 h a T acom a 14 h a L o s A n g e le s 4 8 ha Long B eac h T okyo 11 h a O a k la n d O saka 9 h a N Y /N J T a iw a n 2 0 h a H yu n d ai h a H a n jin 3 1 h a S e a t t le 4 3 h a T okyo 12 h a Long B ea ch 61 ha K a o h s iu n g 1 9 h a H a n jin ha O O C L 45 h a S e a t t le 2 0 h a O O CL - T a iw a n 45 ha Long B ea ch 22 ha
  • 22. Issues in competitiveness: horizontal integration and port networking Increasing size Vertical integration Overcapacity Dedicated terminals Weakness of ports/terminals •economies of scale / network •Market purposes (geographic penetration) •shareholders’ interests •response to concentration in maritime industry Horizontal integration as possible reaction
  • 23. Stevedores consolidation and networking 2001 world container throughput: 260 millions TEUs • Hutchison Port Holding: 9,5% • Port Authority of Singapore: 7,4% • Maersk (dedicated): 4,9% • Eurogate: 3,2% 4 players, 25% of the market! (top 20 liners, 2000: 55%)
  • 24. A push toward both competition and cooperation • Logistics outsourcing and supply chain integration • Economies of scale and of networks • Oligopolistic structure of the market •Between: •Terminal operators and maritime carriers Conceded and dedicated terminal Vertical •Terminal operators and networks •Terminal operators and inland terminals Integrations •Between terminal operators Horizontal •Between port authorities
  • 25. Hyerachies and networks: from mainport to brainport to chainport Territorial “Isolated“ ports Mainport paradigm protected markets Concentration Competitive and competition paradigm Brainport Ec. of scale Decentralisation Spatial hyerarchies Port networks Cooperative port/inland terminal netw paradigm Chainport Specialization Network cooperation
  • 26. Summary  The new port economics: – Changes in the economy – Changes in the transport industry – Consequences on demand of port services – Consequences on production and supply – The present scenario: new threats and new opportunities  The market structure of port industry – Competition and competitiveness – Port selection criteria – Is there an optimal size for ports and port terminals? – Vertical integration: the dedicated terminals – Horizontal integration: port networking • Micro and macro economic impacts • The role of ports and the agenda for policy makers
  • 27. Container throughput in main Northern E.U. ports 7000000 6000000 5000000 Rotterdam Hambourg Anvers 4000000 Felixstowe Breme Le Havre 3000000 Southampton Zeebrugge Thamesport Amsterdam 2000000 1000000 0 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
  • 28. Container throughput in main Southern E.U. ports 2500000 2000000 Gioia Tauro 1500000 Algeciras Barcelone Genes Valence Masaxlokk Le Pirée 1000000 La Spezia Marseille Livourne 500000 0 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
  • 29. Container throughput variation by country (1999 - 2001) -10,00% -5,00% 0,00% 5,00% 10,00% 15,00% 20,00% 25,00% 30,00% 35,00% 40,00% D EL S E SLO I B TR M F GB NL
  • 30. Port freight traffic 1980 - 2000 (.000 tons) PORTS 1980 1990 2000 1990 - 1980 2000 - 1990 2000 - 1980 Algeciras (Bahía de) 22.954 26.347 47.560 14,78% 80,51% 107,20% Alicante 2.552 2.556 3.047 0,16% 19,21% 19,40% Almería - Motril 4.590 6.803 8.964 48,21% 31,77% 95,29% Avilés 5.143 3.824 4.138 -25,65% 8,21% -19,54% Baleares 3.094 6.380 10.574 106,21% 65,74% 241,76% Barcelona 16.839 18.421 30.160 9,39% 63,73% 79,11% Bilbao 24.234 30.066 28.639 24,07% -4,75% 18,18% Cádiz (Bahía de) 1.899 3.144 4.653 65,56% 48,00% 145,02% Cartagena 13.767 13.795 17.349 0,20% 25,76% 26,02% Castellón 5.509 7.896 9.889 43,33% 25,24% 79,51% Ceuta 2.504 3.597 2.896 43,65% -19,49% 15,65% Ferrol - San Ciprian 864 1.279 8.499 48,03% 564,50% 883,68% Gijón 12.558 11.801 19.807 -6,03% 67,84% 57,72% Huelva 10.078 10.138 17.870 0,60% 76,27% 77,32% La Coruña 9.298 12.590 12.615 35,41% 0,20% 35,67% Las Palmas 5.993 9.649 16.206 61,00% 67,96% 170,42% Málaga 8.171 9.246 3.765 13,16% -59,28% -53,92% Marín - Pontevedra 511 659 1.684 28,96% 155,54% 229,55% Melilla 359 471 802 31,20% 70,28% 123,40% Pasajes 5.233 3.824 4.671 -26,93% 22,15% -10,74% Sta. Cruz de Tenerife 14.580 13.158 16.974 -9,75% 29,00% 16,42% Santander 4.410 4.140 5.349 -6,12% 29,20% 21,29% Sevilla 3.414 3.071 4.492 -10,05% 46,27% 31,58% Tarragona 19.832 24.826 27.573 25,18% 11,07% 39,03% Valencia 8.004 12.172 25.394 52,07% 108,63% 217,27% Vigo 2.545 3.225 3.877 26,72% 20,22% 52,34% Villagarcía 1.253 511 1.002 -59,22% 96,09% -20,03% C.A.P.G.(Motril, S.Ciprian) 16.800 4.340 -- -74,17% - - Other ports -- 8.326 10.056 - 20,78% - TOTAL 226.988 256.255 348.505 12,89% 36,00% 53,53%
  • 31. Containerised port traffic 1980 - 2000 (.000 tons) PORTS 1980 1990 2000 1990 - 1980 2000 - 1990 2000 - 1980 Algeciras (Bahía de) 2.145 4.920 20.334 129,37% 313,29% 847,97% Alicante 335 342 855 2,09% 150,00% 155,22% Almería - Motril -- 12 -- - - - Avilés -- -- -- - - - Baleares 701 1.371 2.143 95,58% 56,31% 205,71% Barcelona 1.218 4.577 12.989 275,78% 183,79% 966,42% Bilbao 949 1.989 4.368 109,59% 119,61% 360,27% Cádiz (Bahía de) 474 724 687 52,74% -5,11% 44,94% Cartagena 99 247 355 149,49% 43,72% 258,59% Castellón 123 44 240 -64,23% 445,45% 95,12% Ceuta 2 24 75 1100,00% 212,50% 3650,00% Ferrol - San Ciprian -- 1 1 - 0,00% - Gijón 5 61 185 1120,00% 203,28% 3600,00% Huelva 4 -- -- - - - La Coruña 2 4 -- 100,00% - - Las Palmas 761 2.025 4.514 166,10% 122,91% 493,17% Málaga 6 34 22 466,67% -35,29% 266,67% Marín - Pontevedra -- 5 238 - 4660,00% - Melilla 2 41 124 1950,00% 202,44% 6100,00% Pasajes 51 163 -- 219,61% - - Sta. Cruz de Tenerife 802 1.423 3.144 77,43% 120,94% 292,02% Santander 9 4 53 -55,56% 1225,00% 488,89% Sevilla 198 283 654 42,93% 131,10% 230,30% Tarragona 44 152 380 245,45% 150,00% 763,64% Valencia 957 3.934 14.136 311,08% 259,33% 1377,12% Vigo 211 529 1.363 150,71% 157,66% 545,97% Villagarcía -- -- -- - - - C.A.P.G.(Motril, S.Ciprian) 758 -- -- - - - Other ports -- 125 -- - - - TOTAL 9.856 23.034 66.860 133,71% 190,27% 578,37%
  • 32. What’s going on beyond traffic data? Who benefits from port efficiency? Who pays? Ports are still a business? For whom? (is the whole port industry sustainable?)
  • 33. Micro and macro impacts of the port Competitiveness Micro impact for as efficiency (for the port operator) the port / transport / and effectiveness (for the port user) logistics industry Input demand: • owners of the inputs • local commnunity Macro impact for the port economy Output demand: the hinterland • Shippers •(producers, consumers)
  • 34. How do changes affect the economy? • Labour per cargo unit dramatically decreases • Capital and entrepreneurship shift outside the local control (horizontal and vertical integrations in port industry) • Land price for port uses is low since: – port competition pushes down prices of stevedoring – competition and low prices transfer on input markets – land price lowers around the opportunity cost (or even below) • Substantial and increasing external costs (road/rail traffic, congestion, marine and air pollution, etc.) • Regional multipliers possibly lower  A threat for port local economy?
  • 35. Employment and throughput 50.000 10.000 45.000 9.000 40.000 8.000 35.000 7.000 30.000 6.000 tons/1000 PEA 25.000 5.000 20.000 4.000 15.000 3.000 10.000 2.000 5.000 1.000 0 0 Venezia Civitavecchia Genova Savona Ancona Livorno Ravenna La Spezia Bari Taranto Augusta Carrara Napoli Salerno Catania Cagliari Gioia Tauro Trieste Palermo Messina Piombino Brindisi Merci (escl.petroliferi) Totale merci Addetti "Aa+Ac" 1996 1991: 288.000 (316.000) 1996: 278.000 (298.000) The relationship seems weak!
  • 36. Summary  The new port economics: – Changes in the economy – Changes in the transport industry – Consequences on demand of port services – Consequences on production and supply – The present scenario: new threats and new opportunities  The market structure of port industry – Competition and competitiveness – Port selection criteria – Is there an optimal size for ports and port terminals? – Vertical integration: the dedicated terminals – Horizontal integration: port networking  Micro and macro economic impacts • The role of ports and the agenda for policy makers
  • 37. A changing role... Mode exchanger Link in the supply chain New / growing tasks: Hinterland connect. Local development Vertical integration Safety Regulator for Environment Maritime and Fair comp. / antitrust Intermodal transport
  • 38. Models of port management... Terminal Other Land Safety Management Services Ownership Environment Public or Public Public Public Public service port (corp./ comm) Tool port Private Public Public Public Landlord port Private Private Public Public - “anseatic” - “latin” Private port Private Private Private Public - No P.A.
  • 39. … and their performance Purpose: Better for: Risks: • Private ports Efficiency “Market” control of Uncertain networking supply chain • “Landlord ports” Competition (H and V) local impact – “anseatic” – “latin” Planning • Tool ports Land use “Institutional” No or little market Public funds Networking Orienteding • Public ports
  • 40. Equilibrium between different tasks / needs Market failures: •Natural monopolies Competitive environment •externalities •Public goods Non-market failures Port planning and land use Public Port Territory Port services plants Commercial Environment spaces Infrastructure Services Services constr/manut. (pil, tow, moor)
  • 41. Issues in port organization and regulation (anti-trust control) Public planning Self production for the market in the market Concessions Competition Competition rent Public Port Territory Port services plants Commercial Environment spaces Infrastructure Services Services constr/manut (pil tow moor) TAX
  • 42. Thank you for your attention la nueva dimension de los puertos en el siglo XXI enrico.musso@unige.it www.enricomusso.it Transportes marítimos y gestión portuaria Vigo, 27 de noviembre 2003 Instituto de estudios económicos de Galicia Fundación Pedro Barrié de la Maza