European shipowners, represented by ECSA, have released two studies highlighting the strategic importance of European shipping, according to ECSA's release.
A Deloitte study on EU Shipping Competitiveness and a CE Delft study on the economic value of European shipping reveal that European shipping constitutes a "geopolitical asset" for the region.
The CE Delft study indicates that European shipping represents approximately 35% of the global fleet in terms of tonnage, despite the EU representing only about 15% of global GDP.
European shipping controls significant portions of the global fleet, including 30% of bulk carriers, 44% of container ships, 35% of tankers, and 33% of LNG carriers.
The Deloitte study emphasizes that the EU faces increased international competition and recommends strengthening the sector through a forward-looking maritime strategy, regulatory simplification, closing the investment gap for clean technologies, and promoting upskilling.
Sotiris Raptis, Secretary General of ECSA, stated, "Shipping is a cornerstone of Europe’s energy and supply chain security and is in the frontline of the energy transition. European shipping is a success story. Europe represents 35% of the global fleet against the EU’s 15% share of global GDP. The European fleet and our tonnage have been growing, but others have been growing faster. For Europe to retain shipping as a geopolitical asset, we need to maintain its international competitiveness and invest in the energy transition. Investing the EU and national ETS revenues in clean tech and clean fuels will make the whole maritime industrial cluster more competitive."
The studies recommend aligning EU regulations with international standards, particularly those set by the IMO, and addressing the need to upskill approximately 800,000 seafarers globally, with 250,000 in Europe, over the next decade.
ECSA (European Community Shipowners' Associations) represents the interests of European shipowners, promoting a competitive and sustainable shipping industry within the EU and globally.