European shipping plays a pivotal role in securing the continent’s geopolitical standing, as highlighted by recent studies from Deloitte and CE Delft. The European shipping fleet, which accounts for approximately 35% of the global capacity across various segments, serves as a crucial facilitator for the import and export of goods, food, and energy within the region. While the EU generates about 15% of the world’s GDP, its sizable fleet, which includes 30% of global bulk carriers, 44% of container ships, 35% of tankers, and 33% of LNG carriers, positions it as a dominant player in international trade. However, the Deloitte study notes that the EU faces increasing competition for shipping activities, especially as other global fleets expand more rapidly.
As geopolitical tensions rise, European shipping emerges as a strategic asset that can help bolster the EU’s position within international supply chains. This underscores the necessity for the region to sustain a competitive shipping sector amid evolving challenges. The study points out that while the current EU regulatory and taxation framework supports the shipping industry, there is significant room for enhancement. Immediate priorities include addressing the investment gap for adopting cleaner technologies and fuels, easing administrative complexities, and achieving alignment with international regulations.
Sotiris Raptis, Secretary General of European Shipowners (ECSA), emphasized the critical nature of shipping for Europe’s energy and supply chain security, especially during the ongoing energy transition. He noted the importance of maintaining the competitive edge of the European fleet, which has seen growth, albeit not as rapidly as that of other global fleets. Strategic investments in clean technology and fuels will enhance the competitiveness of the maritime sector, benefiting the entire industrial cluster.