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After a decade of falling and stagnation, the wind blows in the coastal navigation. This is evidenced by the latest XRTC report on Inland Coastal Navigation, titled "Starting a New Cycle with Many Equivalents", based on figures for 2017.
As reported in increased tourist traffic, a decline in international oil prices in recent years, and an increase in migration flows caused a sharp slowdown in corporate finances
. "This year's data show strong signs of a further upsurge in the coastal market, after a decade of decline and stagnation," says the report,
However, despite the trend forecast for another year, Coastal shipping companies appear to have limited effectiveness in terms of exploiting foreign demand. , supporting most of their income in goods traffic as well as domestic tourism
At the same time, it is interesting that, according to the official data of the National Statistics the global coastal traffic shows a trend on the rise, which seems to be exploited by the smaller "players" of the market and less the four "traditional" (ANEK, Minoan, Attica, HSW).
In the last year (2017 and up to July of this year), the main developments for the industry are summarized in the sale of 48.53 % of Hellenic Seaways (HSW), which was under the control of Minoan Lines. The buyer was the Attica group, which now controls 98.83% of Hellenic Seaways.
Minoan Lines also entered the Piraeus-Chania line, a market that was under the exclusive control of ANEK-Attica
After the last of these purchases, the Attica group is the largest figure of Greek coastal shipping, covering 30% of capacity and 33% of pbadenger demand
. ELSTAT data, the increase in short sea shipping was in the order of 10%, but the percentage Most remaining companies (unlisted), whose presence continues to increase, to both in terms of fleet and traffic, have been exploited.
In particular, according to XRTC, "quoted and HSW, faced with the swelling of their high investments and their loans, had to go ahead with strategies of deleveraging.
In order to 39, avoid bankruptcy, they narrowed, offering boats for sale and rationalizing the two lines where the and the number of routes. "
However, as indicated, the completion of their restructuring and the new conditions of competition with other companies may encourage large investors to invest in listed companies and HSW
. ] The bank is also a prerequisite, since the lack of bank financing is a hindrance to any investment movement
In the midst of this business environment, new "players" have decided to invest in the coastal market, the increased capacity offered the entry of the lines where HSW and HSW were forced to reduce.
It is significant that until 2013, the main players in the sector held a share of 64% of pbadengers movement As of 2014, this percentage is steadily decreasing to reach only 43% in 2017.
Companies that have gained market share include Seajets, Golden Star Ferries, Fast Ferries, Zante Ferries and Dodekanisos.
However, XRTC stresses the urgent need to modernize the institutional framework that will ensure the competitiveness of companies and the conditions of fair competition. the industry is still the volatility of oil prices and the euro / US dollar exchange rate
In 2017, the oil threat reappeared, which resulted in a significant reduction in the margin beneficiary of the four traditional "actors".
However, the risk of declining demand due to the state of the Greek economy seems to have faded, since the confidence of internal and external demand is restored and shows signs of recovery
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