IHK Nord with Economic Survey in the Maritime Industry

An economic survey by IHK Nord in the maritime industry showed a significant recovery in shipbuilding, port operations, and shipping. However, the figures are still below last year’s level. The goods shipping sector showed the strongest recovery.

(Hamburg) The economy of the maritime industry in Germany has recovered in autumn compared to spring 2020, but the figures are still below last year’s level. This is the result of the current survey by IHK Nord, the association of twelve northern German chambers of commerce and industry. The three sub-sectors of shipbuilding, port operations, and shipping are showing significant increases in the business climate index.

Cruise Shipping on the Ground or Ashore

The economic barometer in shipping has made the strongest gains: it recorded an increase of 67 points, rising to 75.8 points. “Overall, shipping has fared better through the crisis than expected in spring,” said Janina Marahrens-Hashagen, chairwoman of IHK Nord. However, there is a varied picture: while large shipping lines are once again making profits, cruise shipping is still largely on the ground. “The general warning against cruises on the website of the Federal Foreign Office is equivalent to a de facto industry lockdown. This warning should be reassessed at the cruise summit with politics and companies,” said the chairwoman of IHK Nord. The business climate index for shipyards has risen from 38.9 to 59.2 points, but not as strongly as in shipping. Four out of five surveyed companies see significant problems regarding foreign demand. “Especially cruise shipbuilding is suffering from the crisis,” said Marahrens-Hashagen. To sustain the shipyards and secure thousands of jobs at suppliers, the federal government should apply the so-called large guarantee program (parallel federal-state guarantees) unconditionally to shipbuilding and also use the economic stabilization fund specifically to support individual companies.

Port Operations Also on the Rise

In port operations, the sentiment barometer can also make gains. It rises by around 36 points and currently stands at 59.9 points. “Despite this encouraging news, especially the large German seaports have fallen further behind the competition from Rotterdam and Antwerp since the beginning of the pandemic,” said Marahrens-Hashagen. “It is positive to note that regional ports and the Baltic Sea ports have been less affected by the pandemic and can almost consistently achieve their previous year’s results in goods transport.”From the perspective of the northern German chambers of commerce and industry, the docking costs for ships at German seaports should be permanently reduced. The Corona pandemic has also made it very clear that digital solutions are needed in the maritime industry. Therefore, digitization, for example in ports, should be accelerated even more than before.Photo: © Loginfo24Graphic: © IHK Nordwww.ihk-nord.de      www.hk24.de