Tạp chí containerisation informa_ci_20140708.pdf

7/21/2019 Tp ch containerisation informa_ci_20140708.pdf

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www.dcatkàersh`ppàj.dcfNUMP/KUJUTW ?9;7

Gktk Huo> Mckg Bkdtcrs ..............................98

Gktk Huo> Zcrmg Bmeet Upgkte ...............;9

Wrkge _cutes> Ks`k-Tcuth Kfer`dk ........;7

Ycrts> KYF Werfàkms ..................................?9

UKTD> WHE TW_KWEJP

OEH@AG @WT BMEEW

EXYKAT@CA

Y49

EREAWT

WCD EU_CYE> AEZT

B_CF WHE EXH@O@W@CA

KAG DCABE_EADE

Y42

DK__@E_T

RKMEAD@K> TYKA@TH

YC_W BKDET D_@T@T

CB CRE_DKYKD@WP

Y4?

FC_E @AT@JHWYC_WT

K@F@AJ

WC OE

G@BBE_EAW

TKBFK_@AE

DH@EB EXEDUW@RE

WHE

J_KAW GKMP

@AWE_R@EZ


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4/53

Numy/Kujust ?9;7

TWKO@M@WP kppekrs tc oe ka kmèa dcadept à the dcatkàer

sh`ppàj agustry, wh`dh s cade kjkà jcàj thrcujh kacther

per`cg cb uphekvkm bcmmcwàj Dhàks renedt`ca cb the Y4

Aetwcrl oetweea Fkersl, Feg`terrkaeka Th`ppàj Dc kag

DFK DJF.

Z`thà k bew weels, the tcp twc hkg tekfeg up tc bcrf

the prcpcseg ?F kmm`kade, mekvàj DFK DJF tc mccl bcrkmterakt`ve cpt`cas a ka agustry where màes hkve tc wcrl

tcjether tc cotkà the edcacfès cb sdkme kag mcwer dcsts

aeegeg tc cverdcfe àkgequkte bre`jht rktes kag jeaerkmmy

uaskt`sbkdtcry prcb`ts.

Kmkstk`r H`mms kakmys`s cb b`rst-qukrter resumts à th`s `ssue

uagermàes nust hcw pccrmy fcst dkrrèrs kre perbcrfàj.

Out cae dcascm`gkt`ca ebbcrt seefs tc oe jcàj sfccthmy,

w`th Hkpkj-Mmcyg kag DTKR ca dcurse tc dcfpmete the

kfkmjkfkt`ca cb the`r dcatkàer kdt`v`tès oy Acvefoer.

@a ka àtervèw w`th Dcatkàer`skt ca @aterakt`cakm nust

gkys oebcre he steppeg gcwa ks dhèb exedut`ve, F`dhkem

Oehreagt tkmls kocut hcw s`ze fktters these gkys, kag why theJerfka màe w`mm oe mcclàj bcr fcre ferjer kag kdqu`s`t`ca

cppcrtua`tès, prcokomy à the Ks`k-Ykd`b`d rej`ca.

Ua`teg Krko Th`ppàj Dc hks tklea k g`bbereat kpprckdh

tc jrcwth, w`th k $?oa aewou`mgàj prcjrkffe thkt w`mm

àdmuge ;8,999 teu sh`ps, dktkpumtàj the màe atc the tcp

;9. @a th`s `ssue, UKTD dhèb exedut`ve Ncra Hàje tkmls tc

Dcatkàer skt`ca @aterakt`cakm eg`tcr Gkf`ka Orett kocut the

dcfpkays àvestfeat strktejy, the `fpcrtkade cb t`fàj, kag

hkvàj the dcab`geade tc crger whea fkrlet dcag`t`cas kre

wekl rkther thka strcaj.

Eg`tcr-à-dhèb Dcatkàers Nkaet Ycrter(+77 (9) ?9 :9;: 72;:) nkaet.pcrterIàbcrfk.dcf

Eg`tcrGkf`ka Orett(+77 (9) ?9 :9;: 5:57) gkf`ka.orettIàbcrfk.dcf

_epcrterMàtca A`jhtàjkme(+77 (9) ?9 :55; 0027) màtca.a`jhtàjkmeIàbcrfk.dcf

Tuo-eg`tàj, ges`ja kag prcgudt`caHekther Tw`bt

(+77 (9) ?9 :9;: 4?9:) hekther.sw`btIàbcrfk.dcf

Bem`d`ty Fcadltca(+77 (9) ?9 :55; 0408) bem`d`ty.fcadltcaIàbcrfk.dcf

Kgvert`sàj prcgudt`ca_ussemm Ocrj(+77 (9) ?9 :9;: 7705) russemm.ocrjIàbcrfk.dcf

Kgvert`sàj skmesKmka Hkrt(+77 (9) ?9 44:: 48?9) kmka.hkrtIàbcrfk.dcf

Kgvert`sàj skmesfkakjerA`rkn Lkpur(+77 (9) ?9 44:: 4828) a`rkn.lkpurIàbcrfk.dcf

Fkrletàj fkakjerMcu`se Dhkmmcaer(+77 (9) ?9 :9;: 5775) mcu`se.dhkmmcaerIàbcrfk.dcf

Tuosdr`pt`ca skmes Z`mm`kf Yurdhkse(+77 (9) ?9 :55; 05?0) d`.suosdr`pt`casIàbcrfk.dcf

_eteat`casYkumàe Teyfcur(+77 (9) ?9 :9;: 5924) pkumàe.seyfcurIàbcrfk.dcf

@abcrfk pmd, Dhr`stdhurdh Dcurt, ;9-;5 Aewjkte Ttreet, Mcagca ED;K :K^Wemephcae> +77 ?9 :9;: 5999

@adcrpcrktàj

www.dcatkàersh`ppàj.dcfNUMP/KUJUTW?9;7

GktkHu o>Mckg Bkdtcrs..............................98

GktkHu o>Zcrmg BmeetUpgkte ...............;9

Wrkge_cutes> Ks`k-TcuthKfer d k........;7

Ycrts>KYF Werfàkms..................................?9

UKTD> WHE TW_KWEJP

OEH@AG @WT BMEEW

EXYKAT@CA

Y49

EREAWT

WCD EU_CYE> AEZT

B_CF WHE EXH@O@W@CA

KAG DCABE_EADE

Y42

DK__@E_T

RKMEAD@K> TYKA@TH

YC_W BKDET D_@T@T

CB CRE_DKYKD@WP

Y4?

FC_E@AT@JHWYC_WT

K@F@AJ

WC OE

G@BBE_EAW

TKBFK_@AE

DH@EB EXEDUW@RE

WHE

J_KAW GKMP

@AWE_R@EZ

ka àbcrfkousaess

Kug`teg oy KOD. Wctkm d`rdumkt`ca ;9,9;: Nka Ged ?9;;

Dcatkàer`skt`ca @aterakt`cakm `s puom`sheg fcathmy oy@abcrfk pmd. Yràteg oy Zyagehkf Jrkaje, Tcuthw`dl,Tussex. G`stròuteg a the UT oy Yrcatc Fk`mersKsscd`kt`ca. UT Yer`cg`dkms Ycstkje Yk`g kt F`ggmesexAN 98872. YCTWFKTWE_> pmekse seag UT kggressdcrredt`cas tc> Dcatkàer`skt`ca @aterakt`cakm d/c YrcatcFk`mers Ksscd`kt`ca, Y.C.Ocx ;::, F`ggmesex, AN 98872.Tcurdes, uses kag g`sdmcsures cb perscakm gktk hemg oy@abcrfk pmd kre gesdròeg a the Cbb`d`km Gktk Yrctedt`ca

_ej`ster. Ac pkrt cb th`s puom`dkt`ca fky oe reprcgudeg,repràteg cr stcreg a kay emedtrca`d fegùf w`thcut theexpress perf`ss`ca cb the puom`shers.

@abcrfk pmd @TTA> 99;9-:4:0

Mcclàj kt the mktest gevemcpfeats ks the Y4Aetwcrl s renedteg kag ?F kmm`kade s prcpcseg

LEEY@AJ KO_EKTWCB WHE AEZT

Hempàj us leep korekst cb everythàj thkt `s hkppeaàj

à the agustry s Màtca A`jhtàjkme, whc ncàeg the

Dcatkàer`skt`ca @aterakt`cakm eg`tcr`km tekf k bew weels kjc,

oràjàj experèade cb the pcrts sedtcr, wh`dh `s kmsc jcàjthrcujh dhkmmeajàj t`fes ks dkrrèrs bcrje kmm`kades w`th ekdh

cther kag kgnust the`r sdhegumes kddcrgàjmy.

@a sudh k rkp`gmy-dhkajàj fkrletpmkde, Dcatkàer skt`ca

@aterakt`cakm s kome tc put these gevemcpfeats atc dcatext

kag gr`mm gcwa oehàg the hekgmàes. Out we gc act `jacre

gky-tc-gky eveats wh`dh kre dcvereg à getk`m camàe. Oe sure

tc leep a tcudh w`th kmm the mktest aews kag kakmys`s ca

www.dcatkàersh`ppàj.dcf.

Nkaet Ycrter, eg`tcr-à-dhèb

Ncà us ca>Jrcup akfe>

Dcatkàer`skt`ca @aterakt`cakmIDcatkàers@at

Tuosdr`pt`ca rktesUL> 079/EurcpeEU_;,?49_CZ> UTG;,8?5

Tuosdr`pt`cas hctmàe>Wem> +77 (9) ?9 :55; 05?0Bkx> +77 (9) ?9 :9;: :829d`.suosdr`pt`casIàbcrfk.dcf

Dustcfer serv`des>Wem> +77 (9) ?9 :9;: 5579Bkx> +77 (9) ?9 :9;: 72;7suosdr`pt`casIàbcrfk.dcf

NUMP/KUJUTW ?9;7

www.dcatkàersh`ppàj.dcf DCAWK@AE_@TKW@CA @AWE_AKW@CAKM9;


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Y_CB@WKO@M@WPY_CTYEDWT OMEKLMcj`d sujjests wekler pmkyers shcumg

w`thgrkw brcf the agustry, out whc3

Y;2

F@XEG BC_WUAET BC_HCAJ LCAJY4 dcmmkpse fky oe jccg bcr the pcrt, out

v`s`ts kre oeàj mcst tc cther kmm`kades

Y;0

Numy/Kujust ?9;7

JMCOKM TWKAGK_GTBC_ KYF WE_F@AKMTO`jjer sh`ps gr`ve the aeeg bcr h`jher

prcgudt`v`ty a strktejy sw`tdh-up

Y?9

DMCT@AJ WHE JKYHcw w`mm aew shkrehcmgers kag k dhkaje

cb fkakjefeat aueade the dumture kag

buture g`redt`ca cb Hkpkj-Mmcyg3

Y?4

GKWK HUO

W_KGE TWKW@TW@DTGcuome-g`j`t jrcwth a geepsek fpcrt

vcmufes guràj the rst qukrter fekas the

camy wky `s up

Y97

GKWK HUO

MCKG BKDWC_TMcclàj kt the m`lemy vessem ut`m`skt`ca rktes

bcr ley Eurcpeka trkge mkaes

Y98

GKWK HUO

ZC_MG BMEEW UYGKWETuppmy dcatàues tc jrcw khekg cb gefkag

ks ocxsh`p eet dkpkd`ty àdrekses kag

àkdt`ve eet shràls

Y;9

W_KGE _CUWE@AWEMM@JEADE@avestfeat s st`mm aeegeg a Tcuth Kfer`dkapcrts tc hkagme mkrjer ocxsh`ps dcfàj ca

tc the Ks`k-Tcuth Kfer`dk trkge mkae

Y;7

?9

Ze speag k mctcb t`fe w`th cur

pecpme mcclàj kt

hcw we gc thàjs,

ks wemm ks whkt

we gc

GKWK HUO

YC_WTDK__@E_T

YC_WT DK__@E_T

9? DCAWK@AE_@TKW@CA @AWE_AKW@CAKM www.dcatkàersh`ppàj.dcf

DCAWEAWT/NUMP/KUJUTW ?9;7

Y?2

J_KAW GKMP

R@EZ B_CF WHE O_@GJE


6/53

M@RE_YCCM @A BCDUTDcatkàer`skt`ca @aterakt`cakm geokte

revekms àgustry àterest à acrth-west pcrt

Y47

MCAGCA DKMM@AJWhe dcatkàer àgustry gesdeags ca

the UL dkp`tkm bcr WCD Eurcpe

Y42

AEZT _CUAGUYBrcf Y4 tc ?F

Y7;P`mg`r`f act surpr`seg oy Y4 renedt`ca

Y77

CCDM cpeas kppekm prcdess cver Dcurteaky

Kmmka fkasmkujhter rumàj

Y72

Numy/Kujust ?9;7

FKL@AJ KG@BBE_EADETkbfkràe dhèb exedut`ve Jrkat Gkmy

tkmls kocut the fpcrtkade cb serv`degèreat`kt`ca

Y?2

WHE K_W CBC_GE_@AJUKTDs Ncrje Hàje revekms the strktejy

oehàg the màes aewou`mgàj àvestfeat

prcjrkffe

Y49

D_@T@T @A RKMEAD@KWhe Tpka`sh pcrt s pmkjueg oy cverdkpkd`ty

kag gedmààj vcmufes

Y4?

_@T@AJ _@TL CBDPOE_D_@FEWW Dmuo dmk`fs exedut`ve F`le Pkrwccg

àvest`jktes the exteat cb dyoerdr`fetkrjeteg kt trkaspcrt cperktcrs

Y7:

Y_KJFKW@TF Z@ATWHE GKPAew dcatkàer we`jht ver`dkt`ca

feksures kre jccg aews bcr kmm, skys Dhr`s

Zemsh cb the Jmcokm Th`ppers Bcruf

Y78

OCX ZC_MG O_@EB@AJ

R@EZ B_CF WHE O_@GJE

DK__@E_T

YC_WT

EREAWT JUETW DCMUFA@TWT

www.dcatkàersh`ppàj.dcf DCAWK@AE_@TKW@CA @AWE_AKW@CAKM94

@TTUE 2/RCM 7:


7/53

97 DCAWK@AE_@TKW@CA @AWE_AKW@CAKM www.dcatkàersh`ppàj.dcf Numy/Kujust ?9;7

GKWK HUOW_KGE TWKW@TW@DT

TUYYMP/GEFKAG @AG@DKWC_T

BC_ DCAWK@AE_ TH@YY@AJ

GKWK Y_CR@GEG OP>

@A WHE Kpr m eg`t`ca cb Dcatkàer`sktca

@aterakt cakm, FGT Wrkasfcgkm gesdr oeg

the pcs`t`ve resumts coserveg a the mkst three

fcaths cb ?9;4, expmkààj thkt they were

fkàmy gue tc the ekrmy Dhàese Aew Pekr.

Usukmmy, th`s per cg `s kddcfpkaèg oy

the pressure cb seagàj cut dkrjc oebcre the

bkdtcry dmcsure bcr the hcm gky seksca, kag

à ?9;4 th`s pressure wks wcrseaeg oy the

bekr cb rcmmcvers exper eadeg oy sh`ppers theprev`cus yekr kag the remkt vemy shcrt per cg

oetweea the Dhr stfks kag muakr hcm gkys.

@a the skfe eg`t`ca, FGTW kmsc quest`caeg

whether gefkag wcumg hkve wekleaeg kbter

the Dhàese Aew Pekr per cg kag whkt mevem

cb gefkag sh`ppers shcumg hkve expedteg bcr

the b`rst qukrter cb ?9;7.

Ca the oks`s cb trkge gktk kvk mkome a

f`g-Nuae, FGTW est`fktes thkt expcrts brcf

Ks k (exdmugàj àtrk-rej`cakm trkge), kbter

k refkrlkome jrcwth cb 8.4% à the bcurth

qukrter cb ?9;4 dcfpkreg w`th the skfethree fcaths the prev`cus yekr, hkve jrcwa

oy k mcwer rkte cb 5% à the b rst qukrter cb

?9;7 dcfpkreg w th the dcrrespcagàj

per cg cb ?9;4, tc ;9.0f teu.

T`f mkrmy, oetweea the b rst three fcaths cb

?9;7 kag the skfe per cg mkst yekr, expcrts

brcf Acrth Kfer dk kre est fkteg tc hkve

àdrekseg oy :.2% yekr ca yekr. Dcas ger aj

the sekscakm ty, th`s perdeatkje kppekrs

evea fcre eadcurkjàj. Bcr the yekr khekg

kag okseg ca the occstàj perbcrfkades

coserveg à the mkst bew qukrters, FGTWest`fktes thkt expcrts brcf Acrth Kfer`dk

f`jht jrcw oy scfe 2% a ?9;7.

YCT@W@RE J_CZWH>WHE CAMP ZKP @T UY3

Acrth Eurcpe tc Acrth Kfer`dk Feg`terrkaeka tc Acrth Kfer`dk

Mekgàj àg`dktcrs> hekghkum brcf acrth Eurcpe 999 teu. @tkm`ds 6 prcnedtegDcffcg`ty ?9;? ?9;4 ?9;7 ?9;5

;; Oeverkjes ;88 ;87 ;80 ;07

:8 _ckg Reh dmes ;:7 ;:5 ;82 ;07

80 F`sdemmkaecus Fkaubkdtures ;20 ;09 ?94 ?;5

:7 Jeaerkm @agustr`km Fkdhàery ;24 ;52 ;78 ;57

2? _uooer Fkaubkdtures ;?0 ;42 ;47 ;5?

Cverkmm hekghkum àgex ;99 ;95 ;95 ;;;

Cverkmm okdlhkum àgex ;99 ;94 ;;? ;;8

Mekgàj àg`dktcrs> hekghkum brcf Feg`terrkaeka 999 teu. @tkm`ds 6 prcnedtegDcffcg`ty ?9;? ?9;4 ?9;7 ?9;5

22 Fàerkm Fkaubkdtures ;;8 ;40 ;70 ;2?

80 F`sdemmkaecus Fkaubkdtures 27 :2 88 04

8? Bura`ture 5: 25 :4 :5

;; Oeverkjes 5; 5? 7: 70

95 Rejetkomes & Bru`t, Auts 59 5? 58 29

Cverkmm hekghkum àgex ;99 ;90 ;;; ;;8

Cverkmm okdlhkum àgex ;99 ;92 ;95 ;;;

Acrth Kfer`dk tc acrth Eurcpe(999 teu)Acrth Kfer`dk àdmuges UT, Dkakgk, Fex`dc, Yuertc _`dc kag Jreeamkag

Feg`terrkaeka Acrth Kfer`dk (999 teu)Feg`terrkaeka àdmuges Acrth Kbr`dk kag the Omkdl Tek

;,:5:

;,985?,7:8

095;,8;?

4.;%

;,;84

0%

?,50?

7.2%

058

5.0%

;,0:?

8.8%

;,?9;

;.5%

?,29;

9.4%

078

-;%

?,9:?

5.;%

;,?85

:%

?,:2?

2.?%

;,99:

2.?%

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?9;5

Acrth Eurcpe tc Acrth Kfer`dk(999 teu)Acrth Eurcpe àdmuges acrthera Eurcpe, Tdkagàkv`k kag the Okmt`d

Acrth Kfer`dk tc Feg`terrkaeka (999 teu)Acrth Kfer`dk àdmuges UT, Dkakgk, Fex`dc, Yuertc _`dc kag Jreeamkag

Uagermyàj westocuag trkge jrew oy 4% a ?9;4 kag s expedtegtc jrcw oy scfe 0% a ?9;7. Uagermyàj ekstocuag trkge jrew oy 5% a ?9;4 kag s expedteg tcjrcw oy 9.4% a ?9;7. Cb the mekgàj hekghkum dcffcg`tès, rckg veh`dmes kag f`sd.fkaubkdtures shcw fcst jrcwth.

Kaaukm hekghkum jrcwth brcf ?9;4 tc ?9;: s bcredkst kt 7%. Terv`de dkpkd`ty westocuag à the b`rst qukrter cb ?9;7 `s est`fktegtc hkve refkàeg stkome dcfpkreg tc the b`rst qukrter cb ?9;4. P-c-P à the b`rst qukrter cb ?9;7, ut`m`skt`ca mevem `s est`fkteg tchkve `fprcveg fkrjàkmmy out bre`jht rktes kag prcb`ts kre est`fktegtc hkve gedrekseg (westocuag).

Uagermyàj westocuag trkge jrew oy 0% a ?9;4 kag s expedtegtc jrcw oy ?% a ?9;7. Uagermyàj ekstocuag trkge jrew oy 2% a ?9;4 kag s expedtegtc bkmm oy ;% à ?9;7. Cb the mekgàj hekghkum dcffcg`tès, fàerkm fkaubkdtures shcwsfcst jrcwth.

Kaaukm hekghkum jrcwth brcf ?9;4 tc ?9;: s bcredkst kt 5%. Terv`de dkpkd`ty westocuag à the b`rst qukrter cb ?9;7 `s est`fktegtc hkve àdrekseg fkrjàkmmy dcfpkreg tc the b`rst qukrter cb ?9;4. P-c-P à the b`rst qukrter cb ?9;7, ut`m`skt`ca mevem `s est`fkteg tchkve `fprcveg fkrjàkmmy out bre`jht rktes kag prcb`ts kre est`fktegtc hkve gedrekseg (westocuag).

?9;?

?9;?

?9;4

?9;4

?9;7

?9;7

?9;5

?9;5

Gcuome-g`j`t jrcwth àdrekse à geepsek `fpcrt vcmufes guràj rst qukrter


8/53

Ycs t ve resumts kre kmsc est fkteg bcr the cther gcfàkat fkrlets. Bcr acrth

Eurcpeka kag Feg terrkaeka expcrts, FGTW est fktes ka àdrekse cb krcuag 7%

oetweea the b rst qukrter cb ?9;4 kag the skfe qukrter th`s yekr.

Ycs t ve jrcwth rktes kre expedteg tc oe seea thrcujhcut the yekr kag kt k jmcokm

mevem. FGTW est fktes thkt exdmugàj àtrk-rej`cakm trkge tctkm mckgeg fkr t fe

vcmufe f`jht jrcw oy scfe 5%-2% th`s yekr.

Whe eadcurkjàj perbcrfkades à trkge gktk kre est fkteg tc hkve oeea

kddcfpkaèg oy pcs t ve perbcrfkade ca the mevem cb ut m skt ca exper eadeg oy the

sh`ppàj m aes.

Bcr exkfpme, à ts àter f repcrt bcr the b rst qukrter cb ?9;7, Fkersl Màe hks

repcrteg `fprcvefeats à octh cperkt cakm perbcrfkades kag ut m skt ca mevems.

FGTW est fktes k regudt ca à the jkp oetweea suppmy kag gefkag ks shcwa à

Jrkph K, wh`dh shcws kmfcst k okmkade à the b rst qukrter cb ?9;7 (?992 [; 6 ;99).

Bcr th`s eg t ca, FGTW bcduses ca the Eurcpeka trkge mkaes, wh`dh hkve repcrteg

k gcuome-g`j t jrcwth àdrekse à geepsek `fpcrt vcmufes tc acrth Eurcpe kag

the Feg terrkaeka gur aj the b rst three fcaths cb ?9;7 dcfpkreg w th the skfe

qukrter mkst yekr.

Wrkge brcf acrthera Eurcpe tc Kfer dk `s prcnedteg tc jrcw oy 9.4% oy the eag

cb ?9;7 kag t `s bcredkst tc dcat aue tc jrcw kt 2% per kaauf brcf ?9;7 tc ?9;:.Tped`km seg fkdhàery trkge jrew out jeaerkm àgustr km fkdhàery bemm. Wrkbb d à the

ekstocuag g redt ca `s expedteg tc àdrekse oy 0% à ?9;7.

Acrth Eurcpe tc F`g-Ekst Jumb & @ag`ka suodcatàeat Feg terrkaeka tc F`g-Ekst Jumb & @ag`ka suodcatàeat

Acrth Eurcpe tc F`g-Ekst Jumb & @ag`ka suodcatàeat(999 teu)Acrth Eurcpe àdmuges acrthera Eurcpe, Tdkagàkv`k kag the Okmt`d

Ks`k tc ED Tcuth Kfer`dk (999 teu)Feg`terrkaeka àdmuges Acrth Kbr`dk kag the Omkdl Tek

;,720 ;,2:8

;,97; 088

;,747

-?.7%

;,87;

0.:%

;,9:0

4.:%

;,908

;;.;%

;,587

;9.5%

;,055

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;,?78

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;,?4?

;?.?%

;,200

:.4%

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:.0%

;,4?0

2.5%

;,4?0

:.0%

?9;? ?9;??9;4 ?9;4?9;7 ?9;7?9;5 ?9;5

F`g-Ekst Jumb & @ag`ka suodcatàeat tc acrth Eurcpe (999 teu)F`g-Ekst Jumb & @ag`ka Tuodcatàeat admuges Jumb stktes, @ag`k, Ykl`stka, Tr` Mkalk & Okajmkgesh

F`g-Ekst Jumb & @ag`ka suodcatàeat tc Feg`terrkaeka (999 teu)F`g-Ekst Jumb & @ag`ka Tuodcatàeat admuges Jumb stktes, @ag`k, Ykl`stka, Tr` Mkalk & Okajmkgesh

Uagermyàj ekstocuag trkge bemm oy ?% à ?9;4 out `s expedteg tcjrcw oy ;;% à ?9;7. Uagermyàj westocuag trkge jrew oy 7% à ?9;4 kag `s expedteg tcjrcw oy ;2% à ?9;7. Cb the mekgàj hekghkum dcffcg`tès, bccg kag pkper shcw the fcstjrcwth.

Kaaukm hekghkum jrcwth brcf ?9;4 tc ?9;: `s bcredkst tc oe :%. Terv`de dkpkd`ty ekstocuag à the b`rst qukrter cb ?9;7 `s est`fktegtc hkve àdrekseg oy ?% dcfpkreg tc the b`rst qukrter cb ?9;4. P-c-P à the b`rst qukrter cb ?9;7, ut`m`skt`ca mevem `s est`fkteg tchkve refkàeg stkome, bre`jht rktes kre est`fkteg tc hkve gedmàeg outprcb`ts kre est`fkteg tc hkve `fprcveg (ekstocuag).

Uagermyàj ekstocuag trkge jrew oy kmfcst ;9% à ?9;4 kag `sexpedteg tc jrcw oy 2% à ?9;7. Uagermyàj westocuag trkge hks oeea jrcwàj oy ;;% à ?9;4 kag`s expedteg tc jrcw oy ;?% à ?9;7. Cb the mekgàj hekghkum dcffcg`tès, fàerkm fkaubkdtures, ka`fkmbeegs kag bru`t & vej shcw the fcst jrcwth.

Kaaukm hekghkum jrcwth brcf ?9;4 tc ?9;: `s bcredkst kt :%. Terv`de dkpkd`ty ekstocuag à the b`rst qukrter cb ?9;7 `s est`fktegtc hkve refkàeg stkome dcfpkreg tc the b`rst qukrter cb ?9;4. P-c-P à the b`rst qukrter cb ?9;7, ut`m`skt`ca mevem `s est`fkteg tchkve `fprcveg, out bre`jht rktes kag prcb`t kre est`fkteg tc hkvegedmàeg (ekstocuag).

?9;? ?9;??9;4 ?9;4?9;7 ?9;7?9;5 ?9;5

* Exdmuges àtrk-rej`c akm trkge. ** DKJ_ Bcredkst. Ca the oks`s cb trkge gktk kvk`mkome à f`g-Numy the dcasumtkady prcnedts the bcmmcwàj dhkajes a uagermyàj gefkag kmcaj the fkà trkgemkaes bcr mckgeg dcatkàers bcr the bcrthdcfàj ;? fcaths (7[ ?9;4 4[ ?9;7 ks dcfpkreg

w`th the prev`cus ;? fcaths). Bcr expmkaktcry actes thkt gebàe hcw gktk hks oeea crjka`segpmekse seewww.ocxtrkgeàtemm jeade.dc.ul.

?9;;-?9;?

?9;?-?9;4

?9;4-?9;:**

Acrth Kfer`dk tc Eurcpe -2% +7% +7.;%

Acrth Kfer`dk tc Ks`k (Bkr Ekst) +5% +8% +5.9%

Ks`k (Bkr Ekst) tc Eurcpe -4% +4% +5.4%

Ks`k (Bkr Ekst) tc Acrth Kfer`dk +2% +5% +4.7%Eurcpe tc Ks`k (Bkr Ekst) +;% +?% +7.2%

Eurcpe tc Acrth Kfer`dk +2% +2% +7.:%

Acrth Kfer`dk expcrts * +?% +5% +7.0%

Acrth Kfer`dk fpcrts * +2% +7% +4.:%

Ks`k (Bkr Ekst) Expcrts * +4% +5% +5.?%

Ks`k (Bkr Ekst) @fpcrts * +:% +5% +5.?%

Eurcpe & Feg Expcrts * +5% +7% +5.?%

Eurcpe & Feg @fpcrts * -?% +4% +7.0%

@atrk Ks`k (Bkr Ekst) +2% +7% +7.0%

@atrk Eurcpe +7% +2% +7.8%

Jmcokm cvervèw +5% +5% +5.?%


27 Ykper & Ykperockrg ;95 ;97 ;9? ;;9

95 Rejetkomes & Bru`t, Auts 28 5? :0 :0

90 F`sdemmkaecus Bccg Yrcgudts 22 :9 20 :2

:: Emedtr`dkm Fkdhàery 29 55 58 24

?8 Cres & Tdrkp 55 78 44 4:

Cverkmm hekghkum àgex ;95 ;97 ;9? ;;9

Cverkmm okdlhkum àgex 28 5? :0 :0

Mekgàj ag`dktcrs> hekghkum brcf Feg`terrkaeka 999 teu. @tkm`ds 6 prcnedtegDcffcg`ty ?9;? ?9;4 ?9;7 ?9;5

98 Ka`fkm Beegàjstubbs ?85 4?5 ?:0 45;

22 Fàerkm Fkaubkdtures ;:7 ;8? ;:; ;80

95 Rejetkomes & Bru`t, Auts ;2: ;8; ;80 ;0;

?: Druge Bert`m`sers & Fàerkms 00 05 ;99 ;94

80 F`sdemmkaecus Fkaubkdtures 2: :? :9 :7

Cverkmm hekghkum àgex ;99 ;;9 ;;: ;?2

Cverkmm okdlhkum àgex ;99 ;;; ;?5 ;47

Uagermyàj ua`t`seg kaaukm trkge jrcwth rktes

www.dcatkàersh`ppàj.dcf DCAWK@AE_@TKW@CA @AWE_AKW@CAKM95Numy/Kujust ?9;7



9/53

92 DCAWK@AE_@TKW@CA @AWE_AKW@CAKM www.dcatkàersh`ppàj.dcf Numy/Kujust ?9;7


Wrkge brcf the Feg terrkaeka tc Acrth Kfer dk `s prcnedteg tc

jrcw oy ;.5% oy the eag cb ?9;7, w th kmm mekgàj dcffcg t es r s aj.

Jrcwth brcf ?9;7 tc ?9;: `s bcredkst kt 2% per kaauf. Ekstocuag

trkbb d `s bcredkst tc bkmm oy ;% à ?9;7.

Wrkge brcf acrthera Eurcpe tc the Jumb kag @ag`ka suodcat aeat `s

prcnedteg tc jrcw oy krcuag ;9.5% oy the eag cb ?9;7, w th pkper

kag pkperockrg kag bccg prcgudts bcmmcwàj the treag, kag `s bcredkst

tc jrcw kt the rkte cb 5% per yekr brcf ?9;7 tc ?9;:.

Wrkge brcf the Feg terrkaeka tc the Jumb kag @ag`ka suo-Dcat aeat

`s prcnedteg tc jrcw oy 2.?% oy the eag cb ?9;7, meg oy ka`fkm

beegstubbs kag fàerkm fkaubkdtures. @t `s bcredkst tc jrcw kt the rkte cb

2% per kaauf brcf ?9;7 tc ?9;:.

Wrkge jrcwth brcf acrthera Eurcpe tc Ekst kag Tcuthera Kbr dk `s

prcnedteg act tc jrcw oy the eag cb ?9;7. @t `s bcredkst tc jrcw oy :%

per kaauf brcf ?9;7 tc ?9;:.

Wrkge brcf acrthera Eurcpe tc Kustrkmks k `s prcnedteg tc jrcw oy

kmfcst :% oy the eag cb ?9;7, oeàj meg oy emedtr dkm fkdhàery, kag

`s bcredkst tc jrcw oy 5% kaaukmmy brcf ?9;7 tc ?9;:.

Bcr expmkaktcry actes thkt gebàe hcw gktk hks oeea crjka`seg pmeksesee http>//www.ocxtrkgeàtemm jeade.dcf/krt dmes/dcfpkay.

Acrth Eurcpe tc Ekst & Tcuth Kbr`dk Acrth Eurcpe tc Kustrkmks`k & Cdeka`k

Acrth Eurcpe tc E&T Kbr`dk(999 teu)Acrth Eurcpe àdmuges acrthera Eurcpe, Tdkagàkv`k kag the Okmt`d

Acrth Eurcpe tc Kustrkmks`k & Cdeka`k (999 teu)Acrth Eurcpe àdmuges acrthera Eurcpe, Tdkagàkv`k kag the Okmt`d

449 458

4;9 ;59

447

;.?%

457

-;.;%

?0;

-2.;%

;42

-0.4%

447

9%

4:8

2.8%

?:5

-5.5%

;?7

-8.8%

42?

8.7%

797

2.0%

?25

-4.2%

;44

:.4%

?9;? ?9;??9;4 ?9;4?9;7 ?9;7?9;5 ?9;5

E&T Kbr`dk tc acrth Eurcpe(999 teu)E&T Kbr`dk àdmuges Ekst kag Tcuth Kbr`dk

Kustrkmks`k & Cdeka`k tc acrth Eurcpe(999 teu)Kustrkmks`k & Cdeka`k àdmuges Kustrkm`k, Aew êkmkag kag Ykd`b`d @smkags

Cverkmm scuthocuag trkge jrew oy ;% a ?9;4 kag s expedteg tcoe bmkt à ?9;7. Uagermyàj acrthocuag trkge bemm oy 2% à ?9;4 kag `s expedtegtc gc the skfe à ?9;7. Cb the mekgàj hekghkum dcffcg`tès acae shcw dcas`steatjrcwth. Kaaukm hekghkum jrcwth brcf ?9;4 tc ?9;: s bcredkst kt 2%. Terv`de dkpkd`ty scuthocuag à the b`rst qukrter cb ?9;7 `sest`fkteg tc hkve àdrekseg oy 8% dcfpkreg tc the b`rst qukrter cb?9;4. P-c-P à the b`rst qukrter cb ?9;7, ut`m`skt`ca mevem, bre`jht rktes kagprcb`ts kre est`fkteg tc hkve gedmàeg (scuthocuag).

Cverkmm scuthocuag trkge bemm oy ;% a ?9;4 kag s expedteg tcjrcw oy :% a ?9;4. Uagermyàj acrthocuag trkge bemm oy 0% à ?9;4 kag `s expedtegtc bkmm oy 0% à ?9;7. Cb the mekgàj hekghkum dcffcg`tès, rckg veh`dmes, f`sdfkaubkdtures kag pkper shcw dcas`steady. Kaaukm hekghkum jrcwth brcf ?9;4 tc ?9;: s bcredkst kt 2%.

Terv`de dkpkd`ty scuthocuag à the b`rst qukrter cb ?9;7 `s est`fktegtc hkve àdrekseg oy 7% dcfpkreg tc the b`rst qukrter cb ?9;4. P-c-P à the b`rst qukrter cb ?9;7, ut`m`skt`ca mevem `s est`fkteg tchkve fprcveg fkrjàkmmy out bre`jht rktes kag prcb`ts kre est`fktegtc hkve gedmàeg (scuthocuag).

?9;? ?9;??9;4 ?9;4?9;7 ?9;7?9;5 ?9;5

Wh`s gktk `s prcv`geg oy Ocx Wrkge @atemm`jeade à dcmmkocrkt`ca w`th FGT Wrkasfcgkm.Fudh fcre getk`m `s kvk`mkome g`redtmy brcf OW@ (www.ocxtrkgeàtemm`jeade.dc.ul),àdmugàj tcaakjes kag est`fkteg teu kt the dcuatry x dcuatry x 4,999 dcffcg`tès mevem,àg`v`gukm sh`p gepmcyfeat kag est`fkteg reveaue, prcb`t, rktes kag ut`m`skt`ca kt thetrkgemkae kag àg`v`gukm sh`p mevem.


:8 _ckg Reh`dmes ?8 ?0 ;0 ?427 Ykper & Ykperockrg ?7 ?7 ?4 ?5

?2 Wext`me Bòres ;0 ;0 ;0 ?;

98 Ka`fkm Beegàjstubbs ;: ;5 ;: ;8

:? Tped`km`seg Fkdhàery ;7 ;7 ;? ;4

Cverkmm hekghkum àgex ;99 ;9; ;9; ;;9

Cverkmm okdlhkum àgex ;99 07 80 85

Mekgàj àg`dktcrs> hekghkum brcf acrth Eurcpe 999 teu.@tkm`ds 6 prcnedtegDcffcg`ty ?9;? ?9;4 ?9;7 ?9;5

:? Tped`km`seg Fkdhàery ?8 ;0 ;0 ?9:8 _ckg Reh`dmes ?4 ?? ?9 ??

80 F`sdemmkaecus Fkaubkdtures ?; ?? ?9 ?;

27 Ykper & Ykperockrg ?9 ?; ;8 ;0

:: Emedtr`dkm Fkdhàery ;: ;2 ;4 ;7

Cverkmm hekghkum àgex ;99 00 ;95 ;;4

Cverkmm okdlhkum àgex ;99 0; 84 80

Tuppmy - okseg ca kdtukm gktk Gefkag - okseg ca kdtukm gktk

Gefkag sekscakmmy kgn

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Jrkph K>Jmcokm suppmy v gefkag kag sekscakmmy kgnusteggefkag àgex ?992 ([;6;99)


10/53


11/53

Numy/Kujust ?9;78 DCAWK@AE_@TKW@CA @AWE_AKW@CAKM www.dcatkàersh`ppàj.dcf

GKWK HUOMCKG BKDWC_T

DKYKD@WP _EGUDW@CATGkf`ka Oretttkles k mccl kt the m lemy fpkdt cb suppmy kag gefkag ca scfe cb theley Eurcpeka trkge mkaes

Eurcpe tc F`ggme Ekst Jumb & @ag`ka suodcatàeat

Whe hekghkum g`redt`ca cb th`s bàemy okmkadeg trkge mkae mccls set bcr k f`xeg yekr w`th kjccg b`rst s`x fcaths uagerfàeg oy k wekler sedcag hkmb.

Rcmufes kre expedteg tc adrekse oy nust cver :% th`s yekr out sedcag qukrter dkpkd`tywks up oy :.?% dcfpkreg w`th k yekr ekrmèr.

Whe trkge mkae s kmsc kbbedteg oy dkpkd`ty ged`s`cas ca Ks`k-Feg`terrkaeka serv`des w`thwkypcrt dkmms a F`ggme Ekst Jumb kag @ag`ka suodcatàeat.

Wh`s hks dcfe atc pmky cver the mkstthree fcaths ks mkrjer vessems werekggeg tc severkm serv`des brcf Ks`k.

Geg`dkteg serv`des were kmsc`fprcveg, w`th mkrjer sh`ps kmmcdktegtc DFK DJFs serv`de kag Fessàk kag

Okhr` gepmcyàj extrk vessems a the`rmccps.

Kmm a kmm, dkpkd`ty adrekseg oy5.?% kt the eag cb the sedcag qukrterdcfpkreg w`th the eag cb the b`rst threefcaths.

4

Acrthera Eurcpe tc ekst dckst cb Tcuth Kfer`dk

Ressem ut`m`skt`camevems ca th`s

trkge mkaehkve suggeamyàdrekseg kbterk mkrje kfcuatcb dkpkd`ty wksw`thgrkwa brcfthe fkrlet.

Whe dkpkd`tyw`thgrkwkm dkfeà the shkpe cbthe kxàj cb the Orkz`m Express serv`de thkt wks rua oy DTKR, DFKDJF kag Feg`terrkaeka Th`ppàj Dc.

Zh`me th`s serv`de wks dut, Km`kadk, Hkfourj Tg kagHkpkj-Mmcyg hkve upjrkgeg the Orkz`m _`ver Ymkte Express serv`dew`th the kgg`t`ca cb 0,:99 teu-;9,599 teu sh`ps, wh`dh hksfà`f`seg the `fpkdt sm`jhtmy.

Wh`s kmm kggs up tc k dkpkd`ty regudt`ca cb ;5.?% dcfpkreg w`th

the eag cb the b`rst qukrter.Fekawh`me, vcmufes kre expedteg tc àdrekse oy krcuag 4% th`syekr.

@a terfs cb ut`m`skt`ca mevems the regudt`ca hks `fprcveg thes`tukt`ca bcr dkrrèrs w`th mevems cb 07% expedteg bcr the th`rgqukrter kag 88% bcr the bcurth qukrter.

;

Ekst dckst cb Tcuth Kfer`dk tc acrthera Eurcpe

Whe sh`ppàj màes cperktàj ca th`s trkge mkae fkge k suggeadkpkd`ty w`thgrkwkm guràj the sedcag qukrter cb the yekr, w`th kDTKR, DFK DJF kag FTD ncàt serv`de refcveg brcf cperkt`ca.

Mkrjer vessems were kggeg tc kacther serv`de, out cverkmmdkpkd`ty hks oeea regudeg oy ;5.?% guràj the qukrter. Whedkpkd`ty regudt`ca dcfes ca the okdl cb expedtkt`cas bcr k sm`jhtregudt`ca à vcmufes ca the trkge mkae à ?9;7.

Ks k okdlhkum trkge, ut`m`skt`ca mevems kre expedteg tc refkàbk`rmy mcw, kmthcujhth`s trkge mkae `soetter thka fcstca the reverseg`redt`ca kagmckg bkdtcrs kreexpedteg tc rekdh8:% guràj thebcurth qukrter.

?

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7

Ekst Dckst Tcuth Kfer`dk tc acrthera Eurcpe>kverkje vessem ut`m`skt`ca

9

?9%

79%

29%

89%

;99%

[?;5

[;;5

[7;7

[4;7

[?;7

[;;7

[7;4

[4;4

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Acrthera Eurcpe tc Ekst Dckst Tcuth Kfer`dk>kverkje vessem ut`m`skt`ca

9

?9%

79%

29%

89%

;99%

[?;5

[;;5

[7;7

[4;7

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[7;4

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Eurcpe tc F`ggme Ekst Jumb> kverkje vessem ut`m`skt`ca

9

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79%

29%

89%

;99%

[?

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[;

;5

[7

;7

[4

;7

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;7

[;

;7

[7

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;4

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;4


12/53

Numy/Kujust ?9;7 www.dcatkàersh`ppàj.dcf DCAWK@AE_@TKW@CA @AWE_AKW@CAKM0

2

CU_ FEWHCGCMCJP>Whe bre`jht rkte bcredksts shcwa à the tkomes kre fkàmy okseg ca prcnedt`cas cb est`fkteg kverkje vessem ut`m`skt`ca à ekdh trkge mkae, dcfoàegw`th cther remevkat d`rdufstkades. Whe bummer the sh`p, the fcre m`lemy rktes w`mm r`se kag v`de versk. Dkrjc bcredksts kre okseg ca the mktest àbcrfkt`ca brcf kmm scurdes kvk`mkome tc

Dcatkàer`skt`ca @aterakt`cakms eg`tcr`km tekf. Whese w`mm kmwkys oe dcaservkt`ve, kag camy tkle kddcuat cb acrfkm sekscakm vkr`kt`cas. Bmeet dkpkd`ty àbcrfkt`ca `s ger`veg brcf

Mmcygs M`st @atemm`jeade. Durreat sh`pockrg dkpkd`ty à ekdh rcute `s est`fkteg oy gegudtàj spkde mcst bcr orclea stcws kag wkypcrt dkrjc brcf the cperktàj dkpkd`ty cbbereg ca

every vessem à thkt trkgemkae. Wh`s `s prcnedteg bcrwkrg oy est`fktàj where aewou`mgàjs kre m`lemy tc oe gepmcyeg, ks wemm ks where repmkdeg vessems kre m`lemy tc oe dksdkgeg àtc.

Kverkje vessem ut`m`skt`ca `s s`fpmy cae g`v`geg oy the cther. @t shcumg oe acteg, therebcre, thkt the resumtàj bre`jht rkte treags camy rebmedt whkt shcumg thecret`dkmmy hkppea `b cdeka

dkrrèrs dcatàue kdtàj kddcrgàj tc bcrf. Whey gc act tkle àtc kddcuat grkfkt`d dhkajes à strktejy, sudh ks fkss mky-ups, serv`de dcascm`gkt`ca kag fcre huo kag spcle cperkt`cas.

F`ggme Ekst Jumb & @ag`ka suodcatàeat tc Eurcpe

Kakmysts kreexpedtàjvcmufes ca th`strkge mkae tcàdrekse rkp`gmyà ?9;7. FGTWrkasfcgkm`s preg`dtàjka àdreksecb ;9.:%dcfpkreg w`th?9;4 tc ?.5fteu.

@ts jrcwth preg`dt`ca kppekrs tc oe prcvàj kddurkte. B`jures bcrthe b`rst b`ve fcaths cb the yekr brcf Dcatkàer Wrkges Ttkt`st`dsshcw k ;9.7% àdrekse dcfpkreg w`th the skfe per`cg k yekrkjc.

Hcwever, ks th`s `s the okdlhkum trkge, ut`m`skt`ca mevems kre actexpedteg tc oe the strcajest th`s yekr. Whkt sk`g, the s`tukt`ca `s`fprcvàj kag mckg bkdtcrs mccl set tc rekdh 82% guràj the b`rstqukrter cb ?9;5.

7

GKWK HUOB_E@JHW BC_EDKTWE_

AEXW EG@W@CA>KFE_@DKTGKWK HUO

MCKG BKDWC_T

Ks`k tc acrthera Eurcpe

Mckg bkdtcrs ca theKs`k-acrth Eurcpetrkge mccl set tcoe strcaj cver the

aext ;? fcaths ksvcmufes dcatàuetc àdrekse khekg cbdkpkd`ty kgg`t`cas.

Whe mktest b`juresbrcf DcatkàerWrkges Ttkt`st`dsshcw thkt guràj theb`rst b`ve fcaths cb the yekr, vcmufes hkve àdrekseg oy 8.7% yekr cayekr tc nust cver 7f teu.

Fekawh`me, sedcag qukrter dkpkd`ty wks up oy 5.8% dcfpkreg w`thk yekr kjc.

Tàde the eag cb the b`rst qukrter, dkrrèrs hkve àdrekseg dkpkd`ty oykrcuag 7.2% ks sh`ppàj màes hkve b`mmeg jkps à serv`des kag orcujhtà aew mkrjer tcaakje ks they prepkre bcr the pekl seksca.

Whese dhkajes àdmuge the DLPHE Kmm`kade kgnustàj `ts sdhegumestc àdmuge Everjreea, resumtàj à mkrjer sh`ps cb ;4,899 teu ncààj the

DEF/AE5 mccp.Whe J2 Kmm`kade dcatàueg tc àdrekse the s`ze cb sh`ps ca `ts Mccp: serv`de. Fkersl Màe kag Feg`terrkaeka Th`ppàj Dc b`mmeg jkps àserv`des kag the Gka`sh dkrrèr kmsc kggeg mkrjer sh`ps tc `ts KE? mccp.

2

Ks`k tc the Feg`terrkaeka

Dkrrèrs kredcatàuàjtc dkrebummyfkakje dkpkd`ty

ca the Ks`k-Feg`terrkaekarcute. Bcr exkfpme,dcfpkreg w`th thesedcag qukrter cbmkst yekr, dkpkd`tyhks kdtukmmy oeearegudeg oy ?.7%.

Fekawh`me, sàde the eag cb the b`rst qukrter, sh`ppàj màes hkvekggeg nust ?.;% cb dkpkd`ty tc the fkrlet.

Wh`s mcw àdrekse à dkpkd`ty `s gcwa tc the bkdt thkt the DLPHEKmm`kade rkt`cakm`seg `ts FG; kag FKY serv`de àtc k sàjme peagumufcperkt`ca ut`m`sàj ;9,999 teu sh`ps. Whe aew serv`de kmsc hkskgg`t`cakm dkmms à the Feg`terrkaeka.

@a terfs cb cverkmm jrcwth, uamess extrk serv`des kre mkuadheg wh`dh seefs uam`lemy tctkm dkpkd`ty à ?9;7 w`mm camy oe sm`jhtmyh`jher thka the ?9;4 mevem.

Zh`me dkpkd`ty `s oeàj dkrebummy fkakjeg, vcmufes kre surjàj,

kag Dcatkàer`skt`ca @aterakt`cakm est`fktes k :% jrcwth mevem bcrthe bumm-yekr ?9;7.

Whe strcaj vcmufe jrcwth kag mcw-mevem dkpkd`ty kgg`t`cas fekathkt ut`m`skt`ca mevems kre expedteg tc rekdh 09% à the th`rg qukrtercb the yekr.

5

4

9

?9%

79%

29%

89%

;99%

[?

;5

[;

;5

[7

;7

[4

;7

[?

;7

[;

;7

[7

;4

[4

;4

[?

;4

Ks`k tc acrthera Eurcpe> kverkje ut`m`skt`ca rktes

Ks`k tc Feg`terrkaeka> kverkje vessem ut`m`skt`ca

9

?9%

79%

29%

89%

;99%

[?

;5

[;

;5

[7

;7

[4

;7

[?

;7

[;

;7

[7

;4

[4

;4

[?

;4

F`ggme Ekst Jumb tc Eurcpe> kverkje vessem ut`m`skt`ca

9

?9%

79%

29%

89%

;99%

[?

;5

[;

;5

[7

;7

[4

;7

[?

;7

[;

;7

[7

;4

[4

;4

[?

;4

LEP>Jreea (87% kag kocve)> Dkrrèrs shcumg oe kome tc prctedt rktes cr evea `fprcve pr`des, uamess the fkrlet hks h`t the tcp cr seat`feat g`dtktes ctherw`se. Jrey (89%-84%)>Bre`jht rktes shcumg oe bk`rmy stekgy dcfpkreg w`th the prev`cus qukrter uamess fkrlet seat`feat g`dtktes ctherw`se. _eg (:0% kag oemcw)> Dkrrèrs kre m`lemy tc hkve k tcujh t`fe

`fprcvàj rktes kag pr`des dcumg wemm gedmàe dcfpkreg w`th the prev`cus qukrter, uamess the fkrlet hks h`t the octtcf cr seat`feat g`dtktes ctherw`se.


13/53

TUYYMP DCAW@AUET WCJ_CZ KHEKG CB GEFKAGWhe ocxsh`p eet dkpkd`ty adrekseg a Nuae tc rekdh ;:.5f teu, repcrts Nkfes Okler

Weu T`ze rkaje @a serv`de Nuae ?9;7 CutstkagàjCrgeroccl ?9;7

Ca Crger ?9;5 Ca Crger ?9;2+ Wctkm vessemsca crger

Wctkm teuca crger

Ac Weu Ac Weu Ac Weu Ac Weu

9-700 4?? 88,259 ; ?59 4 ?29 - - 7 5;9

599-000 :;: 57?,580 7 ?,049 ? ;,78; ; 579 : 7,05;

;,999-?,000 ;,85; 4,470,;:? 74 :5,;:? 22 ;?0,759 48 ::,?88 ;7: ?8;,0;9

4,999-7,000 0?9 4,894,5?4 ?9 87,588 ;; 7?,:99 0 47,299 79 ;2;,888

5,999-:,700 2;4 4,200,959 8 75,299 8 70,?99 - - ;2 07,899

:,599-0,000 454 4,94:,54? ?7 ?;;,05? 29 57;,287 ?5 ?4;,278 ;90 085,?87

;9,999-;?,000 :? :04,478 0 0:,282 ;: ;:8,42? ;; ;;?,9?9 4: 488,928

;4,999-;5,000 ;75 ;,025,49;8

;98,999?4

4?4,859 ?5 45?,599 52 :87,459

;2,999+ ;? ?;?,709 0 ;29,289 4; 552,0;9 ; ;8,899 7; :42,409

Wctkm 5,995 ;:,70;,255 ;?2 :82,858 ??; ;,8?4,80: ;;9 8?:,402 75: 4,748,;5;

Zcrmg Demmumkr Bmeet Nuae ?9;7(exdmugàj aewou`mg pcstpcaefeats kag dkademmkt`cas uager aejct`kt`ca)

FCm Mc`re wks gefcm`sheg a Nuae. Mky-up kag gefcm`t`ca dkaact leeppkde w`th the aufoer cb mkrjer vessems eateràj serv`de.

Yhctc> Gètfkr Hkseapusdh

ZHKW k g`bbereade k fcath

fkles.

Whe mkst t`fe th`s dcmufa

weat tc press, the Y4 kmm`kade

wks kwk`tàj `ts bàkm kpprcvkm

brcf Dhàese kuthcr`tès. K

bew shcrt weels mkter kag

Tcurde> Mmcygs M`st @atemm`jeade

GKWK HUOZC_MG BMEEW UYGKWE

;9 DCAWK@AE_@TKW@CA @AWE_AKW@CAKM www.dcatkàersh`ppàj.dcf Numy/Kujust ?9;7

the g`sduss`ca `s acw cver

whether the ?F vessem-shkràj

krrkajefeat cb Fkersl Màe

kag Feg`terrkaeka Th`ppàj

Dc w`mm cperkte w`thà the

dcabàes cb Dhàks kat`-

fcacpcmy mkws kag hcw th`s

aew pkrtaersh`p w`mm kbbedt the

àgustry.

Wc k dertkà exteat, hcwever,

th`s `s kmm nust k rekrrkajàj cb

gedldhk`rs. Zh`me kmm`kades

fky kmter the dcfpet`t`ve

mkagsdkpe oetweea màes, the

fkrlet cverkmm refkàs the

skfe> tcc fkay sh`ps kag tcc

bew dkrjces.

Cwaers dka bàg scfe remèb

à the bkdt thkt the aufoer cb

vessems ca the wkter hks bkmmea

sàde the eag cb Fky. Oy the


14/53


15/53


;? DCAWK@AE_@TKW@CA @AWE_AKW@CAKM www.dcatkàersh`ppàj.dcf Numy/Kujust ?9;7

Ressems mk`g-up Zeel eagàj Numy ;, ?9;7

Actes>Mmcygs M`st @atemm`jeadefca`tcrs repcrteg kag K@T fcvefeats cb dcfferd`km vessems wcrmgw`ge. Wh`s extrkdt `geatès vessems w`th ac redcrgegfcvefeat a the pkst ?5 gkys.

@akdt`ve teus`ze rkaje

Cwaer cperktcr Dhkrtereg a /ualacwa Wctkm % tctkm bmeet

Ac cb sh`ps Weu Ac cb sh`ps Weu Ac cb sh`ps Weu

9-700 ;2 5,27: :2 ;:,5;? 0? ?4,;50 ?5.0%

599-000 0 5,80; 59 47,248 50 79,5?0 :.5%

;,999-?,000 ;2 ?4,47? 7; 22,799 5: 80,:7? ?.:%

4,999-7,000 ? 0,;79 ;4 5?,284 ;5 2;,8?4 ;.2%

5,999-:,700 ? ;;,;97 4 ;:,072 5 ?0,959 9.8%

:,599-0,000 - - ; 8,299 ; 8,299 9.4%

;9,999-;?,000 - - - - - - -

;4,999+ - - - - - - -

Wctkm 75 55,;?7 ;87 ;0:,::0 ??0 ?5?,094 ;.7%


Ressems gem`vereg Nuae ?9;7

Ressem akfe Th`pykrg Weu _eeberpmujs

GZW Lacts Oeaeb`d`km cwaer Cperktcr Gepmcyfeat

Fktz Fkersl Gkewcc Th pou mg aj & Fkr aeEajàeeràj

;8,?:9 299 ;07,?87 ?4 K.Y. Fcmmer-Fkersl Fkersl M ae Ks`k-Eurcpe

Whkmkssk A`l` Hyuagk` Hekvy @agustrès ;4,899 ;5;,?99 ?4 A.T. Mefcs Everjreea Ks`k-Eurcpe

CCDM T ajkpcre Tkfsuaj Th`pou mgàj & Hekvy@agustrès

;4,?99 ;,;59 ;77,;50 ?4.5 Bàkad`km YrcgudtsJrcup

Crèat CverseksDcatkàer Màe

Ks`k-Eurcpe

Hyuagk Gr ve Gkewcc Th`pou mgàj & Fkr aeEajàeeràj

;4,959 ;75,0:0 ?7.8 Hyuagk` FerdhkatFkràe

Hyuagk` FerdhkatFkràe

Ks`k-Eurcpe

FCM Orkvc N`kajsu Aew Pkajz`n`kajTh`pou`mgàj

;9,999 ;;:,599 Zkshàjtca Fkràe F`tsu` C.T.L. M aes Ks`k-Eurcpe

Hkanà Kf` N`kajsu Pkajz` Xàbu Th`pou`mgàj ;9,999 ;;5,?29 Zkshàjtca Fkràe Hkanà Th`ppàj Ks`k-Eurcpe

DTDM Ochk` Tek Gkm`ka Th`pou`mgàj ;9,999 :99 ;?;,8?7 ?4.5 Dhàk Th`ppàj Dhàk Th`ppàjDcatkàer Màes

Wrkaspkd`b`d

Hkanà Akfu N kajsu Aew Pkajz n kajTh`pou`mgàj

;9,999 ;;5,4;8 ?4 Zkshàjtca Fkr ae Hkan a Th`ppàj Ks k-Eurcpe

Dkp Tka Tcua`c Hyuagk` Hekvy @agustrès 0,220 ?,;99 ;?4,959 A.T. Mefcs Hkfourj Tg Ks`k-Kbr`dk

UKTD Wkoul Hyuagk` Tkfhc Hekvy @agustrès 0,999 ;;?,;:; ?? Efo r dcs Jrcup Ua teg KrkoTh`ppàj Dc

Wrkaspkd`b`d

Z`ge Orkvc Hkan a Hekvy @agustrès (Tuo`d

Oky)

5,799 25,47: Ualacwa APL Màe Ks`k-Tcuth Kfer`dk

Z`ge Kmphk Hkanà Hekvy @agustrès (Tuo`dOky)

5,799 25,;5? ?? Oerahkrg TdhumteJrcup

APL Màe Ks`k-Tcuth Kfer`dk

PF Exdemmeade DTOD Dcrp 7,599 :99 52,299 ?5.2 Pkaj Fàj Fkràe Pkaj Fàj Fkràe -

Lctk Tkoks Gkm`ka Ac.? 4,099 5;,599 Ykd`b`d@aterakt`cakm Màes

Ykd`b`d@aterakt`cakmMàes

Ks`k-Kbr`dk

A`megutdh Oregk Thkajhk` Th`pykrg Dcfpkay 4,899 7:,999 ??.: A`me Gutdh A`me Gutdh Ks`k-Kbr`dk

Okrry Wrkger Jukajzhcu Zeadhcaj Th`pykrg ?,;09 709 ?5,999 ;0 Mcfkr Th`ppàj &Fkakjefeat

FDD Wrkaspcrt _ej cakm Ks k

Acrgm`ca ^hen`kaj Cuhuk Th`pou`mgàj ;,:99 459 ?4,5:7 ;8.5 _eegere` Acrg DCTDC DcatkàerMàes

-

Mkjkrbcss _cajdheaj Theabe` Th`pou`mgàj 8:5 ?49 ;?,999 ;8.4 E`fsl`p E`fsl`p -


eag cb Nuae, there were ;?

bewer sh`ps à the bmeet out, ks

usukm, yet fcre dkpkd`ty. Whe

kjjrejkte acfàkm teu dkpkd`ty

cb the 5,995 vessems àdrekseg

oy :8,599 teu tc rekdh ;:.5f

teu.

Aew gem`verès were meg oy

the mktest cb Fkersls Wr`pme-E

bmeet, the ;8,?:9 teu Fktz

Fkersl. Aew Wr`pme-Es kre

rcmmàj cbb the sm`pwky kt the

rkte cb cae k fcath, ekdh cae

w`th the acfàkm dkpkd`ty cb

bcur pkakfkxes, sc t s eksy tc

see hcw the tctkm bmeet dkpkd`ty

dcatàues tc jrcw.

Mky-up kag gefcm`t`ca

nust dkaact leep pkde w`th

the aufoer cb mkrjer vessems

eateràj serv`de. Cb the ;:

vessems ncààj the bmeet à

Nuae, ;? were pcst-pkakfkx

cr mkrjer, w`th e`jht cb thcse

hkvàj k acfàkm dkpkd`ty cb

;9,999 teu cr fcre.

Kt the cther eag cb the

m`bespka, the ;2 vessems

gefcm`sheg à Nuae were kmm

pkakfkx-s`zeg cr sfkmmer kag

kmm tcwkrgs the eag cb the`r

serv`dekome m`be. Whe ycuajest

were ;5-yekr-cmg beeger ua`ts

out the fkncr`ty were ;0-?7

yekrs cmg.

Whe aufoer cb vessems

returaàj tc kdt`ve serv`de

kbter oeàj a mky-up adrekseg

à Nuae, tklàj the aufoer

cb `gme vessems gcwa tc aewmcws, w`th camy ;.7% cb the

bmeet acw àkdt`ve. Whe bmeet

à mky-up, pr`fkr`my fkge up

cb beegersh`ps, stkags kt ??0

vessems dcfpr`sàj ?54,999

teu.

Whe surpr`se here wks thkt

cb the ?? vessems thkt dkfe

cut cb mky-up à Nuae, e`jht

were pkakfkxes. Whese sh`ps

kddcuateg bcr 45,999 teu cb

the 78,999 teu cb dkpkd`ty thktreturaeg tc serv`de.

Gesp`te th`s gefkag, the

vkmue cb pkakfkx tcaakje


16/53

www.dcatkàersh`ppàj.dcf DCAWK@AE_@TKW@CA @AWE_AKW@CAKM;4Numy/Kujust ?9;7


Rkmukt`cas bcr pcst-pkakfkx, pkakfkx kag hkagyfkx dcatkàer vessems

Kje Dkpkd`ty (teu) Nuae ;0,?9;7 ($f)

Fky ;0,?9;7 ($f)

Fcathmy dhkaje($f)

Nuae ;0,?9;4 ($f)

Pekrmy dhkaje($f)

9 7,?59 ?8.? 44.: -5.5 42.7 -8.?

5 7,?59 ?9.9 ?4.; -4.; ?5.5 -5.5

;9 7,999 ;?.2 ;4.4 -9.: ;5.: -4.;

;5 7,999 0.7 0.0 -9.5 0.8 -9.7

?9 4,:59 8.0 0.4 -9.7 :.: ;.?

?5 4,:59 8.0 0.4 -9.7 :.0 ;.9

Ykakfkx Tcurde> Ressemsvkmue.dcf


Fky ;0,?9;7 ($f)

Fcathmy dhkaje($f)

Nuae ;0,?9;4 ($f)

Pekrmy dhkaje($f)

9 ;,799 ;:.5 ;:.0 -9.7 ?;.; -4.2

5 ;,799 ;?.5 ;?.0 -9.7 ;7.5 -?.9

;9 ;,799 8.; 8.4 -9.? 8.2 -9.5

;5 ;,799 7.: 7.0 -9.? 7.: 9.9

?9 ;,799 4.2 4.8 -9.? 4.; 9.5

?5 ;,799 4.: 4.8 -9.; 4.? 9.5

Hkagyfkx Tcurde> Ressemsvkmue.dcf

Durreat kag h`stcr`dkm vkmues bcr tkalers, oumlers kag dcatkàers.Gk`my upgkteg skmes m`sts, vessem sped`dkt`cas kag cwaersh`pàbcrfkt`ca.Gktk expcrts, vkmukt`ca dert`dktes, aterkdt`ve dhkrts kagkutcfkteg kmerts


Fky ;0,?9;7 ($f)

Fcathmy dhkaje($f)

Nuae ;0,?9;4 ($f)

Pekrmy dhkaje($f)

9 :,999 22.9 25.; 9.0 58.? :.8

5 :,999 7:.: 78.9 -9.4 79.8 2.0

;9 2,599 49.2 ?0.7 ;.? ?7.8 5.8

;5 5,599 ;2.5 ;7.: ;.8 ;5.5 ;.9

?9 7,599 0.8 ;9.4 -9.5 8.5 ;.4

Ycst-pkakfkx Tcurde> Ressemsvkmue.dcf

Ressems gefcm`sheg Nuae ?9;7

Ressem akfe Ou`mt Weu Orclea gkte Orclea pmkde Th`poreklers Yrev`cus Oeaeb`d`km cwaer

Tuaay Cks`s ;005 7,:74 ;:-Nua-;7 Kmkaj @ag`ka Oreklers F`tsu` C.T.L. Màes

FCM Mc`re ;005 7,:?4 ? :-Nua-;7 Kmkaj @ag`ka Oreklers F`tsu` C.T.L. Màes

FCM Wyae ;005 7,:98 ; 4-Nua-;7 Kmkaj @ag`ka Oreklers F`tsu` C.T.L. Màes

_ckg ;004 7,??0 ;2-Nua-;7 Kmkaj @ag`ka Oreklers Tekbkrers Th`ppàj

Aew Crmekas Express ;080 4,94? ?0-Nua-;7 N kajy a Dh aese Oreklers Hkpkj-Mmcyg

Xà P aj Zka ;009 ?,0;: 97-Nua-;7 ^hcushka Dh aese Oreklers Hk aka Yka Cdeka

Bun` ;00: ?,:57 ;?-Nua-;7 Kmkaj @ag`ka Oreklers Dcat` Hcmgàj

FTD Hàk ;005 ;,748 ?8-Nua-;7 Kmkaj @ag`ka Oreklers Feg`terrkaeka Th`ppàj Dcfpkay

X ka X k Màj ;004 ;,;99 95-Nua-;7 ^hkajn kjkaj Dh aese Oreklers Dh ak Th pp aj

Beaj X kaj Màj ;007 ;,;99 ;9-Nua-;7 ^hkajn kjkaj Dh aese Oreklers Dh ak Th pp ajDhr`sty ;00: ;,955 ?2-Nua-;7 Km`kjk Wurl`sh Oreklers Geepgkme Th`ppàj

Tek Oreezer ;000 ::0 ;7-Nua-;7 Kmkaj @ag`ka Oreklers Cdeka Themm Th`ppàj

Ufelc ;000 527 ;;-Nua-;7 N `kajyà Dhàese Oreklers Dhàk Cdeka Th`ppàj

M`ka Beaj ;085 5?9 97-Nua-;7 ^hcushka Dhàese Oreklers Dhàk Ua`teg Màes

Lhugczha`l A._er lh ;080 709 98-Nua-;7 Dh`ttkjcaj Okajmkgesh Oreklers Bkr-Ekstera Th`pp aj Dcfpkay

X`kfea ;005 448 ;8-Nua-;7 Kmkaj @ag ka Oreklers Pkaj Fàj Fkr ae


dcatàues tc sm`ge, kddcrgàj

tc gktk brcf RessemsRkmue. Whe

vkmue cb k aew pkakfkx hks

bkmmea cver ?9% tc $?8.?f a

the yekr tc the eag cb Nuae.

T`f`mkr perdeatkje gedmàes

hkve oeea seea à vessems cb

b`ve kag ;9 yekrs cb kje ks

wemm.

Wh`s dcatrksts stkrlmy w`th

mkrjer vessems, the pr`de cb

wh`dh dcatàues tc surje. K

;9-yekr-cmg, 2,599 teu

pcst-pkakfkx hks seea k

?7% m`bt a vkmue tc $49.2f a

the yekr tc Nuae. Aew :,999

teu vessems, wh`dh dcumg oe

hkg bcr $58.?f, kre acw

vkmueg kt $22f, ka adrekse

cb ;4.5%.


17/53

GKWK HUO


UT@AJ bewer out mkrjer kag aewer sh`ps s k

treag cddurràj kdrcss kmm rcutes tc fkx`f`se

ebb`dèad es kag strekfmàe serv`de bmeets.

K bew yekrs kjc the kverkje sh`p s`ze ca

the Ks`k-Tcuth Kfer`dk rcute wks 5,999

teu kag there were k tctkm cb ;89 vessems à

cperkt`ca ca the trkge mkae.

Acw the kverkje sh`p s`ze `s 2,?99

teu, w`th k tctkm cb ;55 vessems. Usàj the

o`jjest sh`p bcr ekdh rcute fkx`f`ses smct

ebb`dèady, wh`me easuràj thkt the vessem

dka dkmm kt kmm pcrts oeàj serveg.

Hkmb cb the bmeet ca th`s rcute s acw

mess thka b`ve yekrs cmg, dcfpkreg w`th

the equ`vkmeat b`jure k yekr kjc cb 79%.

Whese aewer sh`ps kmsc kddcuat bcr hkmb cb

the reeber smcts kvk`mkome ca the rcute kag

shcumg cbber oetter buem ebb`dèady thka

cmger vessems.

Mmcygs M`st @atemm`jeade preg`dts thkt

cver the aext bew yekrs mkrjer, aewer sh`ps

cb up tc ;4,999 teu durreatmy ca crger w`mm

oe gepmcyeg ca the Ks`k-Tcuth Kfer`dkrcute. Wh`s s fkàmy gue tc the gepmcyfeat

cb umtrk-mkrje dcatkàersh`ps ca the fkà

ekst-west trkges, mekvàj the super pcst-

pkakfkx bmeet cb sh`ps, oetweea 8,999 teu

kag ;7,999 teu, tc oe dksdkgeg ca tc

acrth-scuth rcutes sudh ks Ks`k-Tcuth

Kfer`dk.

Where kre durreatmy ;70 super pcst-

pkakfkx sh`ps ca crger. Cb these, 74%

kre lacwa tc oe cperkteg oy the fkà

Ks`k-Tcuth Kfer`dk dkrrèrs> DFK DJF,

Dhàk Th`ppàj Dcatkàer Màes, Hkanà,Hkfourj Tg, Feg`terrkaeka Th`ppàj

Dc, Dcsdc Dcatkàer Màes, DDA@, Everjreea

kag DTKR.

@avestfeat s st mm aeegeg a Tcuth Kfer`dka pcrtstc hkagme mkrjer ocxsh`ps, wr`tes Tkrkh Oeaaett cbMmcygs M`st @atemm jeade

GETW@AKW@CA

TUYE_ YCTWYKAKFKX

Kddcrg aj tc k stugy oy the Ua`teg

Akt`cas Edcacf`d Dcff`ss`ca bcr Mktà

Kfer`dk kag the Dkròoeka, oetweea ?9;2

kag ?9;0 vessems cb ka kverkje s`ze cb

;4,999 teu w`mm krr`ve kt the ekst kag west

dcksts cb Tcuth Kfer`dk, wh`dh s pkrt cb

k jmcokm treag cb aterakt`cakm trkge a

sekrdh cb edcacfès cb sdkme kag edcacf`d

geas`ty.

@a prepkrkt`ca bcr mkrjer sh`ps,

Dh`me-okseg Werfàkm Ykd`b`dc Tur Rkmpkrk`sc

hks purdhkseg drkaes w`th ka cutrekdh

cb 2? f kag k skbe wcrlàj mckg cb 25

tcaaes uager k twà m`bt sprekger. Whese dka

kddcffcgkte sh`ps w`th orekgths cb up tc

2? f.Whe use cb reeber dcatkàers `s ka

`fpcrtkat pkrt cb the Tcuth Kfer`dk-

Ks`k trkge bcr trkaspcrtàj bresh bru`t kag

vejetkomes. Where kre k tctkm cb ;?9,999

reeber smcts ca ockrg ocxsh`ps ca th`s

trkge. DTKR, Hkfourj Tg, Fkersl kag FTD

dcatròute the fcst reeber smcts kt 29% ca

th`s rcute.

Whe fkncr`ty cb sh`ps kre oetweea 5,999

teu kag ;9,999 teu, kddcuatàj bcr 80%

cb the tctkm trkge rcute, w`th hkmb cb these

oeàj oetweea :,599 teu kag 0,000 teu.Whe mkrjest sh`p durreatmy servàj th`s

rcute `s the 0,:99 teu Dkp Tka Fkmeksca

Hkfourj Tgs KT@K serv`de, wh`dh w`mm

GKWK HUOW_KGE _CUWET

Tc bkr th`s yekr, 4; sh`ps cb th`s s`ze

hkve oeea gem vereg kag bcur cb these kre

gepmcyeg ca the Ks`k-Tcuth Kfer`dk rcute.

Whe cthers kre gepmcyeg ca the fkà ekst-

west trkges, wh`me k bew serve the Eurcpe-

Tcuth Kfer`dk rcute.

Ks the 85 sh`ps w`th fcre thka ;7,999

teu durreatmy ca crger kre gem vereg kag

gepmcyeg ca the fkà ekst-west trkges,

fcre cb the super pcst-pkakfkx bmeet w`mm

oe dksdkgeg catc acrth-scuth trkges sudh

ks Ks`k-Tcuth Kfer`dk.

@abrkstrudture àvestfeat, hcwever, `s

requ`reg a Tcuth Kfer`dk tc eakome pcrts

tc hkagme mkrjer vessems kag bcr àterfcgkm

serv`des tc hkagme h`jher dkrjc vcmufes.

B`jure ;>Weu rkaje prcpcrt`ca kfcajKs`k-Tcuth Kfer`dk cperktcrs


:,599-0,0004,999-7,000

5,999-:,700

% cb tctkm Ks`k-Tcuth Kfer`dk (teu)

9

;9

?9

49

79

59

29

:9

89

09

;99

;;%

72%

74%


18/53


W_KGE _CUWE @AWEMM@JEADEGKWK HUOW_KGE _CUWET

scca oe ncàeg oy twc cthers w`th the

skfe sped`b`dkt`cas. Where s st`mm sdcpe

bcr mkrjer vessems ks sevea cb the ;5 bummy

dcatkàer`seg serv`des ca th`s rcute st`mm use

sh`ps cb 7,999 teu.

T`x aewmy gem vereg dcatkàersh`ps kre

durreatmy gepmcyeg ca the Ks`k-Tcuth

Kfer`dk rcute. Bcur cb these kre oetweea

0,799 teu kag 0,:99 teu , w`th three

cperkteg oy FTD kag cae oy Hkfourj Tg.

Kt the skfe t`fe mkst yekr sevea aew, out

sfkmmer, sh`ps were gepmcyeg ca the rcute

w`th oetweea 7,499 teu kag 5,999 teu. Wh`s

treag cb aewer, mkrjer sh`ps ca the rcute `s

m`lemy tc dcatàue.

Fkersl Màe

FTD

DTKR

Everjreea Màe

Hkfourj Tug

DFK DJF

FCM

APL

Dhàk Th`ppàj

DCTDCA

L Màe

Y@M

Hkanà Th`ppàj

DDA@

Zka Hk`

HFF

^`f

9 ?,999 7,999 2,999 8,999 ;9,999 ;?,999 ;7,999 ;2,999 ;8,999 ?9,999

B`jure ?>Zeelmy cperkteg dkpkd`ty ca the Ks`k-Tcuth Kfer`dk trkge rcute oy màe


Dh`me-okseg Werfàkm Ykd`b`dc Tur Rkmpkrk`schks purdhkseg aew drkaes à prepkrkt`cabcr mkrjer sh`ps.


19/53


WHE b`rst qukrter cb ?9;7 shcweg m`ttme

dhkaje brcf the jeaerkm fkmk`se ev`geat

thrcujhcut ?9;4 bcr the fkncrs a màer

sh`ppàj.

Cverdkpkd`ty, gesp`te scfe adrekse

à vcmufe ca the fpcrtkat Ks`k-Eurcpe

trkge, dcatàues tc fpege prcjress

tcwkrgs kdhèvàj sustkàkomy oetter

rktes.

Ferjers kag kdqu`s`t`cas, dcas`gereg oy

fkay tc oe ka esseat`km emefeat cb tkdlmàj

the agustrys strudturkm prcomefs, kre st`mm

camy represeateg oy the Hkpkj-Mmcyg/DTKR

tè-up, kmthcujh the bcrfer hks stkteg ts

dcatàuàj aterest, pkrt`dumkrmy a the Ks`k-

Ykd`b`d rej`ca.

Whe màes dcst-duttàj ebbcrts gepeag

mkrjemy ca oualer pr`de regudt`cas ks fcst

cther kveaues bcr edcacfès hkve mcaj

sàde oeea exhkusteg.

Whe gem`very cb aew tcaakje dcatàuesuakokteg kag vessems ca crger represeat

cver ?9% cb durreat dkpkd`ty, w`th Fkersl

Màe kmcae expedtàj gem`very cb k burther

;7 Wr`pme-E dmkss sh`ps tctkmmàj ?5?,999 teu

guràj ?9;7 kag ?9;5.

Gemkys tc the Ykakfk Dkakm expkas`ca

hkve kmsc pcstpcaeg the oeaeb`ts thkt

dkrrèrs were expedtàj tc jkà brcf usàj

mkrjer vessems ca serv`des thkt trkas`t the

trkaspcrt krtery.

Burtherfcre, the aacvkt`ve kag

prcjress`ve Y4 krrkajefeat oetweea

Fkersl Màe, Feg`terrkaeka Th`ppàj Dc

kag DFK DJF wks renedteg oy Dhàks

dcfpet`t`ca kuthcr`ty, preveatàj ts

`fpmefeatkt`ca.

Cajcàj dhkmmeajes

Dcatàuàj g`bb`dumtès dhkmmeaje the màer

sh`ppàj agustry tc surv`ve kag prcsper`ty

`s st`mm scfe wky cbb.

B`rst-qukrter vcmufes ks shcwa a

Wkome ; kre bcr fcst cb the fkncr dkrrèrs,

w`th thcse ssuàj qukrtermy abcrfkt`ca

rej`steràj jrcwth cb oetweea ?% kag 0%

yekr ca yekr.

Mekgàj the adrekses were atrk-Ks`k/

Kustrkmks`k kag Eurcpe trkges, w`th bmkt cr

bkmmàj vcmufes ca the Ykd`b`d kag Ktmkat`dtrkges.

@a the dkse cb CCDM, the adrekses were

cver ;7% ca atrk-Kustrkm`k kag 0.:% ca

Eurcpe out k ;.;% gedmàe ca the Ktmkat`d.

Wh`s perbcrfkade s f`rrcreg oy

Hkpkj-Mmcyg w`th suostkat`km, kag ac

gcuot wemdcfe, jrcwth a the Eurcpe-

Ks`k (;9.:%) kag Tcuth Kfer`dk (8.0%)

Mcj`d sujjests wekler pmkyers shcumg w`thgrkw

brcf the dcatkàer m ae agustry, out whc w mm om alrst3Kmkstk`r H mm repcrts

Y_CB@WKO@M@WPY_CTYEDWT_EFK@A OMEKL

KAKMPT@T/DCFYKAP B@AKAD@KMT

DK__@E_T

CCDM KYM DFK DJF Fkersl DTKR Hkpkj-Mmcyg ^@F

Rcmufes ;,45? :85 ?,899 7,799 772 ;,400 2;:

Dhkaje P-c-P 8.0% ;.:% 5.8% :.4% ?.4% 5.5% ?.9%

Wkome ;>Wctkm vcmufes [; ?9;7 (999 teu)

Tcurde> Dcfpkay repcrts


20/53

www.dcatkàersh`ppàj.dcf DCAWK@AE_@TKW@CA @AWE_AKW@CAKM;:Numy/Kujust ?9;7

trkges, cbbset oy jeaerkmmy bmkt perbcrfkade

emsewhere. DFK DJF repcrteg ;?% jrcwth

à ts atrk-Ks`k/Kustrkm`k ousàess kag 5.;%

ca whkt s gesdròeg ks ekst-west trkges.

Hcwever, reveaues per ua`t, ks shcwa a

Wkome ?,hkve seea s`ja`b`dkat bkmms ks the

màes refkà uakome tc fpmefeat rkte r`ses

thkt kdtukmmy st`dl. Whe b`jures bcr atrk-Ks`k/

Kustrkm`k gefcastrkte hcw the reveaue per

teu experèade ca the cther trkgeshks acw sprekg tc thkt rcute, h`thertc

remkt`vemy uasdktheg oy the prcomefs

emsewhere.

Kt mekst ua`t reveaue rktes seef tc

bcmmcw the mkws cb suppmy kag gefkag thkt

kppkreatmy emuge cther kspedts cb the màer

àgustry.

Uamess kverkje rktes per teu r`se oy kt

mekst $;99-$;?9 bcr the whcme cb ?9;7

kag acthàj emse dhkajes, fkay màes w`mm

oe uakome tc orekl evea, met kmcae fkle

prcb`ts, sc the cutmccl bcr ?9;7 refkàs

omekl. Wh`s kmsc reàbcrdes the perdept`ca

thkt the jeaerkm rkte adrekses atrcgudeg

ca k rejumkr oks`s oy màes bk`m tc hcmg

oeycag the per`cg ffeg`ktemy bcmmcwàj

`fpmefeatkt`ca.

Whe resumts suffkr`seg aWkomes 4 kag

7revekm thkt tctkm reveaue kag prcb`ts

hkve shcwa m`ttme fprcvefeat exdept

bcr Fkersl kag DFK DJF, where the`r

gcfàkat fkrlet pcs`t`ca kag cperkt`cakm

dcst kgvkatkjes ger`vàj brcf mkrjer

vessems kag fcre buem-ebb`dèat sh`ps hkve

orcujht oeaeb`ts geaèg tc fkay cb the`rdcfpet`tcrs.

Cae dka rekscakomy kssufe the`r

erstwh`me Y4 pkrtaer FTD hks eancyeg

s`f`mkr resumts, perhkps k bkdtcr à the

renedt`ca oy Dhàk cb the prcpcseg

dcfoàkt`ca. Whe pcs`t`ca cb octh DTKR kag

^`f s dcas`steat w`th the`r w`ger prcomefs,

out Hkpkj-Mmcyg kag KYMs perbcrfkade

sujjests s`ja`b`dkat weklaess a the`r

respcase tc the sedtcrs g`bb`dumtès.

Tteps tc suddess

Tc whkt dka the màes gc tc reou`mg thepkrmcus stkte cb the`r bàkades3

Where kre bew steps mebt tc thef thkt

hkve act kmrekgy oeea bummy expmc`teg.

Cverdkpkd`ty refkàs the ouraàj ssue

à terfs cb àgustry strudture kag `s

dcas`gereg oy fcst ks scfethàj thkt

aeegs tc oe gekmt w`th oy the agustry ks k

whcme.

Oeycag the Hkpkj-Mmcyg/DTKR

krrkajefeat there hkve oeea ac cther

exkfpmes cb dcascm`gkt`ca. Fkay màes a

thkt f`ggme jrcuag cuts`ge the tcp b`ve

tc ;9 màes kag therebcre nust oemcw oeàj

k tctkmmy jmcokm cperktcr shcumg oe fcre

cpea tc scfe bcrf cb dcfoàkt`ca thka

the j`kats, out there s ac ev`geade cb kay

kdt`v`ty.

Ks fkay màes kre cwaeg cr suostkat`kmmy

dcatrcmmeg oy stkte eat`tès, bàkad`km

g`sd`pmàe hks jeaerkmmy dcfe ks k

sedcagkry dcas`gerkt`ca where avestfeat

kag prcb`tko`m`ty kre dcaderaeg kag th`s

fust geterfàe the`r aterest a seelàj

suddess thrcujh dcrpcrkte gevemcpfeats.

Gesp`te th`s, fkay fust beem thkt theaejmedt cb bàkad`km suddess dkaact oe

sustkàeg agebà`temy kag the pressure

tc dcfoàe, ferje cr tkle cver dka camy

Whe gem`very cb aew tcaakjedcatàues> Fkersl Màe kmcae s

expedtàj gem`very cb ;7 Wr pme-Esh`ps a ?9;7 kag ?9;5.


DK__@E_T


_eveaue $;,9?2 $;,;;2 $;,79: $;,4;7 - $;,7?? $;,?;4

Dhkaje P-c-P -2.2% -2.9% -?.0% -5.;% - -8.9% -5.7%

Wkome ?> _eveaue per teu [; ?9;7 ($)

*Ekdh màe repcrts prcb`t g`bbereatmy sc these aufoers kre act g`redtmy dcfpkrkome Tcurde> Dcfpkay repcrts


_eveaue $;,488 $;,8:8 $4,22: $2,724 $:75 $;,557 $82:

Dhkaje P-c-P ;.:% -7.5% 4.4% ?.7% -;5.9% -5.0% -5.2%

Wkome 4>Wctkm reveaue [; ?9;7 ($f)



Yrcb`t/mcss - -$84 $0: $757 -$22 -$88 -$2?

Wkome 7> Wctkm prcb`t [; ?9;7 ($f)



21/53


ou`mg. Cae cb the fkncr agepeageat

màes `s repcrtegmy eajkjeg à k ser`cus

exkfàkt`ca cb ts buture a the m`jht cb the

prcomefs a the agustry.

Z`thcut the edcacfès cb sdkme kbbcrgeg

oy cperktàj ;8,999 teu vessems, ac cae

w`mm oe kome tc fktdh the perbcrfkade cb

the màes pcssessàj sudh vessems. Wh`s w`mm

gr`ve burther dkpkd`ty àdrekses mekgàj

tc dcatàuàj rkte pressure umt`fktemy

gkfkjàj the octtcf màe.

Whe respcase tc dkpkd`ty adrekses

shcumg oe fcre sdrkppàj out, ks w`th

ferjers cr kdqu`s`t`cas, fcst kre remudtkat

tc tkle the bàkad`km h`t cb gefcm`shàj

remkt`vemy fcgera tcaakje. T`f`mkrmy,dksdkgàj f`g-rkaje dkpkd`ty vessems tc

sedcagkry rcutes feremy adrekses the

rkte pressure ca thcse trkges, wh`dh hkve

up uat`m acw esdkpeg the wcrst cb the rkte

wkrs.

Dka trkge jrcwth hemp3 Jmcokm trkge

jrcwth bcredksts bcr ?9;7 sujjest

àdrekses a the 4.5%-5% rkaje, wh`dh s

oemcw whkt s aeegeg tc koscro the gemuje

cb aewou`mgàjs hkajàj cver the fkrlet.

Ks`k-Eurcpe hks shcwa k s`ja`b`dkat

àdrekse a m`btàjs th`s yekr cb krcuag ;9%yekr ca yekr, wh`dh hks oeea cb ffease

vkmue tc the màes avcmveg. Hcwever, cther

fkncr trkges refkà suogueg kag the pekl

seksca perbcrfkade b, uam`le the pkst

twc yekrs there s kay g`sderaòme pekl

seksca w`mm aeeg tc oe very jccg tc

àg`dkte kay suostkat`km turakrcuag.

Jecpcm`t`dkm ssues

Dcst dcatrcm, k dcatròutcr tc steffàj

mcsses, hks oeea gue mkrjemy tc the ebbedt

cb bkmmàj oualer pr`des, wh`dh dka kfcuat

tc a exdess cb ?9% cb cperktàj reveaue.

Fcst màes g`sdmcseg thkt oualer pr`de

dhkajes hkve oeea pcs`t`ve a the rkaje

cb 5%-:% à the b`rst qukrter cb ?9;7,

represeatàj krcuag $79 per tca, mekgàj tc

ka kverkje pr`de cb scfe $509 per tca.

Whe ebbedt cb th`s ca the buemdcasufpt`ca cb k màe sudh ks DFK DJF

wcumg oe a the rej`ca cb $59f per qukrter

kag therebcre k s`ja`b`dkat dcatròutcr

tc b`rst-qukrter dcst regudt`cas kdrcss kmm

cperktcrs oebcre kay OKB dhkajes.

Hcw fudh mcajer th`s w`mm pers`st `s

cpea tc geokte, pkrt`dumkrmy w`th durreat

jecpcm`t`dkm ssues ou`mgàj a c`m prcgudàj

rej`cas kag w`th the pr`de cb oualers acw

kpprckdhàj ?9;4 mevems.

Where kre kmsc burther oualer prcomefs

à stcre brcf ?9;5 whea the mcw sumphuref`ss`cas rej`fe a dertkà ef`ss`ca dcatrcm

kreks, sudh ks the Acrth kag Okmt`d Tek,

uagerjc k fkss`ve dhkaje w`th fkncr kgverse

dcst fpm dkt`cas bcr sh`ppàj dcfpkaès.

Whe cutmccl, therebcre, refkàs jmccfy

w`th the wemm-gcdufeateg g`bb`dumtès

pers`stàj atc ?9;5 kag oeycag, out t dka

oe expedteg thkt the erstwh`me Y4 fefoers

w`mm prcjress`vemy grkw burther khekg cb

the`r dcfpet`tcrs.Whe dkp`tkm efpmcyeg

stkteg oy Fkersl kag `ts shkre cb jmcokm

trkge sujjests the àgustry hks dkp`tkm

efpmcyeg cb scfe $;59oa-$?99oa.

Where fust oe oetter wkys tc àvest

thkt dkp`tkm thka à dcatkàer sh`ppàj

w`th `ts p`t`bum prcb`tko`m`ty, sc mcj`dkmmy

dksukmtès kre àev`tkome kag cae cr twc

pmkyers mccl vumaerkome, out whc w`mm

omàl b`rst kag whea g`g dcfferd`km mcj`deater the f`x3

Bkmmàj oualer pr`des hkve dcatròuteg tcsteffàj mcsses. Whe ebbedt cb pr`des ca buem

dcasufpt`ca cb k màe sudh ks DFK DJF wcumg oeà the rej`ca cb $59f per qukrter.


DK__@E_T

Kmkstk`r H`mm s k qukm`bèg kddcuatkat w`th

cver 49 yekrs experèade a the dcatkàer

sh`ppàj kag w`ger trkaspcrt agustry

hkvàj stkrteg w`th Tek Dcatkàers a

dcfferd`km kag ousàess gevemcpfeat

pcs`t`cas . He hks wcrleg bcr L Màe UL,

UWW (@aterouml) a the Bkr Ekst kag cther

tkal kag gry ocx messcrs kag fkakjers.

He s ka agepeageat dcasumtkat/àter`ffkakjer kag hks kmsc wcrleg a [ktkr

kag Juykak ca gevemcpfeat prcnedts.


22/53

WHE dcfpet`t`veaess cb Hcaj Lcajs pcrt `s

typ`dkmmy oefckaeg oy the d`tys ousàess

dcast`tueats.

Hutdh`sca Ycrt Hcmgàjs, the pcrt krf cbHutdh`sca Zhkfpck, scmg the ouml cb ts

stkle a Hcaj Lcajs Werfàkm 8 a Fkrdh bcr

$4;0f tc Dhàks Dcsdc Ykd`b d kag Dhàk

Th`ppàj Werfàkm Gevemcpfeat.

Whe skme reaeweg spedumkt`ca thkt Hcaj

Lcajs pr fc tydcca M Lk-shàj, whc dcatrcms

Hutdh`sca, hkg mcst dcab geade a Hcaj

Lcajs jrcwth stcry. Hutdh`sca Ycrt Hcmgàjs

kmsc spua cbb scfe cb ts cperkt`cas, m stàj

thef ks k ua`t trust a Tàjkpcre a ?9;;.

G`vestfeat brcf Hcaj Lcajs pcrt seefs

rekscakome, kt mekst, j`vea redeat treags a

sh`ppàj thkt bkvcur kmm kades. Whese pkdts kre

kmter aj sh`ppàj trkbb d, kggàj scfe dkmms tc

pcrts kag sheer aj kwky cthers.

Hcaj Lcaj kppekrs tc the o`jjest mcser

cb these dhkajes th`s yekr evea b t hks

gcgjeg k fudh fcre grkfkt`d regudt`ca a

dkmms bcmmcwàj the dcmmkpse cb the Y4 Kmm kade.

Kddcrgaj tc b jures octh brcf Tek@atem kag

Kmphkm aer, weelmy pcrt dkmms cb dcatkàershps

à Hcaj Lcaj grcp oy b ve k weel whea

sdhegumes cb ex`stàj kmm kades J2 kag DLPHE

à ?9;7 kre tklea atc kddcuat.

B`ve bewer dkmms dka oe koscroeg, cb dcurse,out the ebbedt cb the ?F w`mm m lemy suotrkdt kt

mekst severkm fcre. Cae ag`dktcr s thkt the

acw-gerk`meg Y4 wcumg hkve dut ;9 ocxsh`p

v`s`ts per weel< scfe cb thkt mcss w`mm m lemy oe

retkàeg a the ?Fs pmkas.

Tcuth Lcreks Ouska Ycrt s sedcag-hkrgest

h`t, w`th k regudt`ca cb b ve pcrt dkmms k weel

uager the J2, out w`th the DLPHE, there s ka

kgg`t`ca cb cae dkmm tc k tctkm cb bcur per weel.

Whkt fekas the aet mcss uager aew kmm kades

exdmug aj ?F w mm oe bcur v s ts per

weel. Wclyc mcses three pcrt v`s ts th`s yekr,dcfpkreg tc the mkst, kmm gue tc the J2.

@a dcatrkst, uager ex`stàj kmm kades,

Tàjkpcre mcses three pcrt v`s`ts per weel, kmm

uager DLPHE sdhegumes. Where wcumg hkveoeea ac regudt`ca cb pcrt dkmms uager the Y4.

Hcaj Lcajs prcomefs kre dcfpcuageg oy

aufoer cb bkdtcrs, admugaj the rse cb dcfpet tve

pcrts mle thcse kt Theazhea kag Jukajzhcu

gredtmy tc the acrth, the smcwaj a expcrt trkge

brcf Tcuthera Dhak jeaerkmmy, kag smcwaess tc

respcag oy Hcaj Lcaj a fklaj upjrkges thkt

wcumg kmmcw the ojjest aew shps tc v s t the pcrt.

Camy ;5 cb the ?7 oerths dka kddcffcgkte

sh`ps oetweea ;;,999 teu tc the mkrjest

s`zes cb krcuag ;8,999 teu. Hcaj Lcaj pmkas

tc gregje cver the aext twc tc three yekrstc kmmcw ;8,999 teu sh`ps tc trkas`t, out

the Thelcu Ycrt a Theazhea hks kmrekgy

dcfpmeteg gregjàj cb ts Wcajju Dhkaaem.

Whe dcmmkpse cb the Y4 kmm kade, bcmmcwàj krenedt`ca cb the ateageg jrcups kppm dkt`ca

tc Oe`n ajs Fà`stry cb Dcfferde, jkve Hcaj

Lcaj k repr eve, kt mekst uat`m the fpkdt cb

the breshmy kaacuadeg ?F kmm kade oetweea

Fkersl kag Feg`terrkaeka Th`ppàj Dc s bemt.

Out repr eves kre remkt ve. Rcmufe b jures

bcr Hcaj Lcaj hkve oeea grcppàj sàde

?9;;, whea ?7.7f teu a thrcujhput wks

redcrgeg. Rcmufes à ?9;? kfcuateg tc

?4.;f teu. @a ?9;4, a wh`dh the Hutdh`scas

pcrt cperkt`cas were h`t oy k str le, vcmufes

grcppeg tc ??.7f teu. Hcaj Lcaj, mcajthe wcrmgs th`rg-ousèst pcrt, wks pusheg

àtc bcurth pmkde oy Theazhea pcrt, wh`dh

redcrgeg vcmufes cb ??.0f teu à ?9;4.


DKMM DHKAJET/KMM@KADET

YC_WT

Ycrt DLPHE-KE J2-WY Y4-KE/WY Wctkm

Cmg Aew Cmg Aew Cmg Aew Cmg Aew Dhkaje

Dh`wka - - 4 - ;4 ;: ;2 ;: ;

Wk`pe` ; ? - - - - ; ? ;

Wkanuaj Yemepks 2 7 - - ;7 ;: ?9 ?; ;

Pclchkfk - - 7 5 5 5 0 ;9 ;

Gkdhka Oky - - 4 ? - - 4 ? -;

Gkm`ka ; ; - - 5 7 2 5 -;

Lcoe - - 7 4 ? ? 2 5 -;

Teagk` - - ; - - - ; - -;

W`kanà ? ; - - - - ? ; -;

Lwkajykaj ; ; 4 4 5 4 0 : -?

Akjcyk - - 5 4 ? ? : 5 -?

Thelcu 4 ? - - ; 9 7 ? -?

Xàjkaj - - ; ; 2 7 : 5 -?

Tàjkpcre ;4 ;9 4 4 ?9 ?9 42 44 -4Wclyc ; ; : 7 - - 8 5 -4

Akashk 4 ? - - : 7 ;9 2 -7

[àjgkc 5 7 7 ? ;; 0 ?9 ;5 -5

Pkat`ka ;; 8 : 2 ?: ?2 75 79 -5

Ouska 4 7 ;7 0 ;5 ;4 4? ?2 -2

Lkchsùaj 2 7 0 5 7 7 ;0 ;4 -2

Aàjoc ;9 : 7 7 ?4 ?9 4: 4; -2

Ycrt Lemkaj - - - - ;? 5 ;? 5 -:

Hcaj Lcaj ;; : : 2 ?? ;? 79 ?5 -;5

Ycrts w`thcut dhkajes ?9 ;8 ;5 ;5 7; 74 :2 :2 9

Jrkag tctkm 0: :2 07 :; ?45 ?;9 7?2 45: -20

Y4s dcmmkpse fky oe jccg bcr the wcrmgs bcurth-mkrjest pcrt, out ve ocxsh`pv`s`ts per weel hkve oeea mcst tc J2 kag DLPHE kmm kades, repcrts Wcf Mekager

F@XEG BC_WUAETBC_ HCAJ LCAJ

Wkome ;> Zeelmy pcrt dkmm dhkajes cb kmm`kade à ?9;7> Ks`k

Tcurdes> Kmphkmàer, Tekàtem


23/53

WHE dcatkàer sh`ppàj agustry dhkajes

rkp`gmy.

@a ekrmy Nuae the wcrmg wks prepkràj

`tsemb bcr the stkrt-up cb the mkrjest kmm`kade

cb ocx màes the agustry hkg ever lacwa

w`th the estkom`shfeat cb the Y4 Aetwcrl

cb Fkersl Màe, Feg`terrkaeka Th`ppàj Dc

kag DFK DJF.

Oy the f`ggme cb the fcath, thekmm`kade hkg oeea kokagcaeg kag the ?F

pkrtaersh`p wks a the prcdess cb oeàj

bcrfeg.

Out t s act camy the sh`ppàj màes thkt

kre dhkajàj the`r kpprckdh ks sh`ps jet

o`jjer kag fkrjàs jet t`jhter dcatkàer

terfàkm cperktcrs kre kmsc a the f`gst cb k

per`cg cb dhkaje.

KYF Werfàkms s cae sudh dcfpkay.

Cver the mkst yekr, the terfàkm cperktcr

hks fpmefeateg k bkr-rekdhàj dhkaje cb

strktejy thkt t hcpes w`mm kmmcw t tc kgkpttc gefkags bcr h`jher mevems cb prcgudt`v`ty

wh`me easuràj thkt t rekdhes ts bàkad`km

tkrjets.

Dhèb dcfferd`km cbb`der Fkrtà Jkkrg

Dhr`st`kasea expmkàs thkt ekdh terfàkm

prev`cusmy cperkteg agepeageatmy out t s

acw gevemcpàj jmcokm dcfpeteadès kag

gr`vàj stkagkrg`skt`ca kdrcss ts bkd`m`tès.

Zh`me oeàj the dhèb dcfferd`km cbb`der,

Fr Dhr`st`kasea tccl ka ater`f rcme ks

dhèb cperktàj cbb`der bcr krcuag k yekr

tc gevemcp the strktejy kag tc j`ve h`f kaàs`jht atc octh s`ges cb the ousàess.

K ley reksca bcr fe hkvàj thkt àter`f

rcme wks tc oràj dcfferd`km dmcser tc

cperkt`cas, he skys.

Ze very cbtea reàveat the wheem mcdkmmy

oy act hkvàj k stkagkrg`seg prcdess bcr

hcw we gekm w`th the vkr`cus cperkt`cakm

prcdesses.

Acw we kre jcàj fudh fcre tcwkrgs

k jmcokm wky cb wcrlàj whea we bàg

cut whkt wcrls wemm a cae terfàkm we tkle

thkt prcdess kag beeg t cut tc the ctherterfàkms.

Cae cb Fr Dhr`st`kaseas pr`cr`tès s

the g`bb`dumt tksl cb fcvàj kwky brcf

the trkg`t`cakm trkaskdt`cakm dustcfer

remkt`cash`p tc k fcre scmut`cas-okseg

uagerstkagàj.

Wh`s s buemmeg oy the aeeg bcr bkster

turakrcuag t`fes ks the resumt cb ka

àdrekse a the aufoer cb umtrk-mkrje

dcatkàer vessems.

@a jeaerkm mkrjer tcaakje s oeàj

gepmcyeg a kmm trkges w`th k mct cb dhkajestc the vessem-shkràj kjreefeats kag

kmm`kade set-ups kag, ks k resumt, cdeka

dkrrèrs requ`re k fcre stkome, preg`dtkome

kag ebb`dèat prcgudt, he expmkàs.

Whkt fekas the dcfpmex`ty cb

cperkt`cas kre adreksàj bcr us kag we

wkateg tc fkle sure we bcdus cur ktteat`ca

ca whkt fktters bcr cur dustcfers.

Ze aeeg tc fcve kwky brcf the fcre

trkg`t`cakm trkaskdt`cakm kpprckdh oetweea

the màes kag the cperktcr where the fkà

bcdus hks oeea ca the DP \dcatkàer ykrgVrktes, kag fcve tcwkrgs semmàj t`fe kag

ebb`dèady a the pcrt.

@t s kmsc kppmyàj k fcre jmcokm

WE_F@AKMT/KYFW

YC_WT

?9 DCAWK@AE_@TKW@CA @AWE_AKW@CAKM www.dcatkàersh`ppàj.dcf Numy/Kujust ?9;7

O`jjer sh`ps gr`ve the aeeg bcr h`jher prcgudt`v`ty a strktejy sw`tdh-up bcrterfàkm cperktcr, repcrts Gkf`ka Orett

KYFW KYYM@ETJMCOKM TWKAGK_GT

Yhctc> KYFW


24/53

www.dcatkàersh`ppàj.dcf DCAWK@AE_@TKW@CA @AWE_AKW@CAKM?;Numy/Kujust ?9;7

WE_F@AKMT/KYFW

YC_WT

kpprckdh tc the fkàteakade cb equ`pfeat

tc fprcve rem`ko`m`ty kag therebcre

prcgudt`v`ty.

He skys thkt wh`me the dhkaje tc k fcre

jmcokm kpprckdh s st`mm kt ka ekrmy stkje,

there hkve kmrekgy oeea fprcvefeats a

perbcrfkade.

Brcf k dcfferd`km perspedt`ve the

dhkmmeaje refkàs tc dcavàde dustcfers tc

pky fcre, a màe w`th the aew kpprckdh.

Ze hkve seea k sh`bt where cur

dustcfers kre kdlacwmegjàj thkt there

`s vkmue a k fcre stkome prcgudt`v`ty, he

skys.

@t fekas sh`ppàj màes dka stkrt tklàj

oubbers cut cb the`r sdhegumàj. Kag b we

dka gefcastrkte thkt we, ca k rem`kome

preg`dtkome oks`s, kre gem`veràj thkt, theawe dka hkve k g`bbereat rkte g`sduss`ca.

Kag we w`mm thea dcatrkdt adeat`ves

kag peakmtès krcuag kjreeg serv`de

pkrkfeters.

Ze kre skyàj b we gcat gem`ver the

prcgudt thkt we hkve prcf`seg thea we kre

w`mmàj tc kddept k peakmty ks mcaj ks there

`s ka adeat`ve bcr us whea we perbcrf

oetter thka dcatrkdteg.

Ze hkve sudh fedhka`sfs a scfe cb

cur dcatrkdts tcgky, kag t s the g`redt`ca

we wkat tc tkle the g`kmcjue w`th

dustcfers.

@fprcvàj trkaspkready

Fr Dhr`st`kasea skys thkt tc `fprcve the

mevem cb serv`de t kmsc aeegs tc fprcve

the trkaspkready oetweea dkrrèr kag

terfàkm.

He expmkàs thkt `b the terfàkm

cperktcr kag dkrrèr shkre fcre

àbcrfkt`ca, thea the terfàkm dka oetter

prepkre bcr the vessem krr`vkm kag `b

there kre `ssues kt the terfàkm thea the

sh`ppàj màe dka oe kmerteg oebcre thevessem krr`ves.

He m`leas the s`tukt`ca tc k

Bcrfumk Cae p`t stcp, w`th the gr`ver

kag p`t drew shkràj àbcrfkt`ca a

crger tc fkle the stcp ks sfccth ks

pcssòme.

Cae cther dhkmmeaje thkt dcfes w`th k

dhkaje cb strktejy s kdhèvàj aterakm

ouy-à. @t `s act kmwkys eksy tc dcavàde

the tekf brcf cae terfàkm tc dhkaje

the wky they hkve oeea ruaaàj the

cperkt`ca.Whe strktejy hks oeea ou`mgàj up

brcf ka admus`ve kpprckdh sc weve

hkg the terfàkm tekfs kag the suonedt

fktter experts hekv`my àvcmveg a

ou`mgàj the strktejy, he skys.

Whkt wks very `fpcrtkat tc jet

the ouy-à, sc `ts act k hekgqukrters

`fpcseg strktejy.

KYF Werfàkms o`jjest dustcfer s

Fkersl Màe, wh`dh kddcuats bcr krcuag

59% cb `ts vcmufes, sc `t `s `fpcrtkat

thkt `ts s`ster dcfpkay `s prepkreg tc

pky bcr the `fprcveg serv`de mevems thktthe aew strktejy w`mm oràj.

K redeat kakmys`s oy Kmphkmàer

sujjesteg thkt KYF Werfàkms hkg the

mcwest ekraàjs, oebcre aterest, tkx,

gepred`kt`ca kag kfcrt`skt`ca, cb the

mekgàj cperktcrs.

KYF Werfàkms rebuteg the sujjest`ca

thkt th`s mcw fkrjà wks dkuseg oy

Fkersl Màe pkyàj mcwer pcrt tkr`bbs

thka cther màes. Whe terfàkm cperktcr

skys the fkrjà `s mcwer gue tc the bkdt

thkt `ts r`vkms hkve bmkjsh`p terfàkmsw`th h`jh pcrt tkr`bbs.

Fekawh`me, KYF Werfàkms skys t

hks k orckger jmcokm pcrtbcm`c w`th ac

bmkjsh`p terfàkm, kag hks k s`ja`b`dkat

preseade à the UT kag Eurcpe, w`th ??

cb `ts ex`stàj terfàkms mcdkteg à these

fkture fkrlets.

Acaethemess, the bkdt thkt Fkersl

Màe `s the terfàkm cperktcrs mkrjest

dustcfer fekas `ts respcase tc the

à`t`kt`ve s fpcrtkat.

Fkersl Màe hks oeea qu`te cpea tc

th`s dcadept bcr k wh`me out cthers krekmsc cpeaàj up tc th`s g`sduss`ca, skys

Fr Dhr`st`kasea.

Ze aeeg tc jet à ekrmèr evea

oebcre the aetwcrl `s pmkaaeg kag

àbmueade the`r pcrt ged`s`ca kag thkt

requ`res thkt we hkve kddess tc act camy

the prcdurefeat crjka`skt`ca out kmsc

the serv`de kag aetwcrl crjka`skt`ca.

Ze hkve whkt we dkmm k ley dmèat

fkakjers set-up, where bcr ekdh

kmm`kade we hkve k aufoer cb ley dmèat

fkakjers thkt suppcrt the kmm`kades cak jmcokm mevem. Out ycu dcumg sky Fkersl

Màe wks the b`rst dkrrèr thkt wks cpea

tc th`s g`bbereat dcfferd`km kpprckdh.

Dhr`st`kasea> Zekre jcàj fudhfcre tcwkrgsk jmcokm wky cbwcrlàj.


25/53

DOT EXEDUW@RE FOK@A TH@YY@AJ & MCJ@TW@DT

EXEDUW@RE FOK@A TH@YY@AJ KAG MCJ@TW@DT

(WHE OMUE FOK)Bumb`m ycur kfo`t`ca tc rekdh the tcp w`th the wcrmgs prefèr Exedut`veFOK ges`jaeg sped`b`dkmmy bcr ousy prcbess`cakms à the sh`ppàjkag mcj`st`ds àgustrys.

Zcrl thrcujh the ateraet brcf kaywhere à the wcrmg ca th`s ua`que fcgume-okseg sh`pp aj

kag mcj`st`ds EFOK, ncààj up bcr nust 8 cae-weel sess`cas sprekg cver ?? fcaths.

Dmkss stkrt> Teptefoer ?9;5. www.dos.gl/fos


26/53

HKYKJ-Mmcygs fpcsàj hekg cbb`de

cvermcclàj the Kmster mkle a deatrkm

Hkfourj s the ep`tcfe cb trkg`t`cakm

vkmues kag k prcug peg`jree.

Whe pr`fe mcdkt`ca ca the prest`j`cus

Okmmàgkff, kag spkd`cus eatrkade hkmm

w`th ts fkrome bmccrs, dcmufas kag gcuome-

he`jht de`màj, kre ges`jaeg tc `fpress.

Out b thkt fpress`ca s cb k dcfpkay

mcdleg a the pkst, thea t wcumg oe k

f`smekgàj cae.

Bcr oehàg the dmkss`d bkdkge, Hkpkj-Mmcyg s eforkdàj dhkaje. @ageeg, ?9;7

`s ca dcurse tc oe k mkagfkrl yekr bcr

Jerfkays mkrjest dcatkàer màe.

Whe d`ty cb Hkfourj kag cther Jerfka

àterests, admugàj the bre`jht-bcrwkrgàj

eatrepreaeur kag o`mm`cak`re Lmkus-F`dhkem

Lhae, fky hkve bcujht hkrg tc leep

Hkpkj-Mmcyg cut cb bcre`ja hkags s`x yekrs

kjc, out th`s s act k dcfpkay rebusàj

tc kgkpt tc k rkp`gmy dhkajàj wcrmg.

Dcaversemy, t s thkt w`mmàjaess tc oe

bmexòme thkt hks eakomeg the sh`pcwaer tcsurv`ve scfe tufumtucus t`fes.

Hkpkj-Mmcyg wks bcrfeg a ;0:9

ks k resumt cb the ferjer cb Hkfourj-

Kfer`lka`sdhe Ykdletbkhrt-Kdtèa-

Jesemmsdhkbt kag Acrth Jerfka Mmcyg. Out

the cr`jàs cb thcse twc màes jc okdl fudh

burther, w`th Hkpkj bcuageg a Hkfourj a

;87: oy mcdkm ferdhkats kag AGM set up a

Orefea a ;85:. Octh mcst the`r bmeets tw`de,

kbter Zcrmg Zkrs Cae kag Wwc.

@a fcre redeat yekrs, Hkpkj-Mmcyg hks

gevemcpeg atc cae cb the fcst suddessbum

dcatkàer màes a the wcrmg, w`th bcrfer

dhk`rfka Hkas-Nklco Lruse whc gèg

ekrmèr th`s yekr astrufeatkm a tssuddess.

Pet cver the pkst gedkge, the Hkfourj

màe hks mcst jrcuag tc three cther Eurcpeka

dkrrèrs> Fkersl Màe, Feg`terrkaeka

Th`ppàj Dc kag DFK DJF. Acae cb thcse

hkve sudh k mcaj kag mmustr`cus h`stcry ks

Hkpkj-Mmcyg, yet the tr`c acw gcfàktes

the jmcokm dcatkàer trkges kag seefs tc

oe pummàj khekg cb the rest gesp`te oeàj

bcrdeg tc kokagca the Y4 vessem-shkràj

kjreefeat kbter k vetc brcf Dhàk.

Whe kdqu`s`t`ca cb DY Th`ps a ?995pusheg Hkpkj-Mmcyg brcf ;4th pmkde tc

aufoer b`ve a the wcrmg, out t hks sàde

sm`ppeg okdl tc s`xth pmkde. Fcrecver,

bmeet dkpkd`ty s camy krcuag k th`rg cb

thkt cb e`ther Fkersl cr FTD, gesp`te k

aewou`mgàj prcjrkffe w`th k serès cb

;4,?99 teu sh`ps redeatmy gem`vereg.

Pet fcre thka ever, s`ze fktters, skys

F`dhkem Oehreagt, whc steppeg gcwa ks

dhèb exedut`ve kt the eag cb Nuae.

Mcaj jcae kre the gkys whea k màe dcumg

oe rkaleg, sky, ;7th cr ;5th a the wcrmg

kag st`mm fkle k very dcfbcrtkome m`vàj ks k

jmcokm cperktcr cr mkrje rej`cakm pmkyer.

Z`th m`ttme dcatrcm cver pr`des, dkrrèrs dkacamy fprcve the`r octtcf màe thrcujh k

t`jht jr`p ca expeases, kag thkt fekas the

dhekpest smct-dcsts pcssòme, oest kdhèveg

thrcujh edcacfès cb sdkme.

Hkpkj-Mmcygs bàkad`km resumts hkve oeea

remkt`vemy mkdlmustre dcfpkreg w`th agustry

mekger Fkersl, w`th the màe pcstàj k mcss

à the b`rst qukrter cb the yekr. Kgf`ttegmy,

severkm cther dkrrèrs were kmsc a the reg,

out the Gka`sh màe s prcvàj thkt t s

pcssòme tc fkle fcaey, evea a g`bb`dumt

trkgàj dcag`t`cas.Tc dka Hkpkj-Mmcyg reverse the treag

kag dmcse the jkp ca the agustry mekgers,

octh a terfs cb prcb`tko`m`ty kag bmeet s`ze3

DHKAJET KW WHE WCY/HKYKJMMCPG

DK__@E_T

www.dcatkàersh`ppàj.dcf DCAWK@AE_@TKW@CA @AWE_AKW@CAKM?4Numy/Kujust ?9;7

Hcw w mm aew shkrehcmgers kag k dhkaje cb fkakjefeat aueade the dumturekag buture g`redt`ca cb Hkpkj-Mmcyg,ksls Nkaet Ycrter

DMCT@AJ WHE JKY

Bcrfer Hkpkj-Mmcyg dhèbexedut`ve F`dhkem Oehreagt kagh`s suddesscr _cmb Hkooea Nkaseap`dtureg kt k bkrewemm redept`ca@a Hkfourj bcr the cutjcàj dhèbexedut`ve kag Umr`dh Lrka`dh.Yhctc> Hkpkj-Mmcyg


27/53

DK__@E_T

DHKAJET KW WHE WCY/HKYKJMMCPG

?7 DCAWK@AE_@TKW@CA @AWE_AKW@CAKM www.dcatkàersh`ppàj.dcf Numy/Kujust ?9;7

Bà`shàj tcudhes

Hkvàj fkge `t dmekr thkt Hkpkj-Mmcyg

hkg tc jrcw kag thkt he hkg k h`tm`st

cb ferjer cr kdqu`s`t`ca tkrjets, Fr

Oehreagt rcuageg cbb h`s ;4 yekrs ks

hekg cb the màe oy puttàj the bà`shàj

tcudhes tc k ferjer w`th the dcatkàer

sh`ppàj krf cb Dh`mes Dcfpkk Tug

Kfer`dkak ge Rkpcres tc bcrf whkt w`mm

oe the wcrmgs bcurth-mkrjest dcatkàer

màe à terfs cb dkpkd`ty, w`th scfe ?99

sh`ps tctkmmàj ;f teu.

Whe gekm `s act expedteg tc oe

dcadmugeg uat`m Acvefoer, cade

rejumktcry dmekrkade s cotkàeg, out the

shkrehcmgers cb ekdh màe hkve kmrekgy

j`vea the`r dcaseat tc the tè-up.Out thkt `s uam`lemy tc oe the eag cb the

expkas`ca gr`ve, w`th Fr Oehreagt skyàj

thkt the màe w`mm thea tura `ts ktteat`ca

tc the Ks`k-Ykd`b`d rej`ca where t sees

the aeeg tc hkve k strcajer preseade.

Cade the DTKR gekm s dcfpmeteg,

Fr Oehreagt w`mm ncà the superv`scry

ockrg ks dhk`rfka, repmkdàj Nrjea

Zeoer, whc ged`geg tc step gcwa ekrmy

à crger tc easure dcatàu`ty guràj the

àtejrkt`ca prcdess.

Kmthcujh m`ttme pmkaaàj dka oe gcae

uat`m kat`trust kuthcr`tès hkve j`vea

the jreea m`jht, the pr`cr`ty `s tc fcve

ks bkst ks pcssòme, w`th Fr Oehreagt

hcpàj the twc ousàesses w`mm oe bummy

kfkmjkfkteg w`thà the yekr.

Wh`s w`mm act oe k gefcdrkt`d prcdess,

w`th Hkpkj-Mmcyg mekraàj brcf ts

tklecver cb DY Th`ps wh`dh `t beems

weat wemm kag mess suddessbum àgustry

ferjers sudh ks thkt cb Y&C Dcatkàers

kag _cykm Aegmmcyg, thkt cae s`ge hks tc

oe à dcatrcm.

@a the dkse cb the DTKR gekm, thehekgqukrters w`mm oe à Hkfourj, w`th

Rkmpkrk`sc oedcfàj k fkncr rej`cakm

cbb`de, ks the Jerfka màe tkles dhkrje

kag retkàs ts akt`cakm `geat`ty.

DTKR w`mm oedcfe k fkncr shkrehcmger

à Hkpkj-Mmcyg, w`th ka eveatukm stkle

cb 47%. Whkt w`mm eakome cther àvestcrs,

whc hkve oeea mcclàj bcr ka ex`t rcute

sàde dcfàj tc the resdue cb Hkpkj-

Mmcyg a ?998 kbter pràd`pkm shkrehcmger

Wu` sk`g `t wkateg tc semm, tc regude the`r

àterests.Whe d`ty cb Hkfourj, thrcujh the

Hkfourjer Jesemmsdhkbt br Rerfjeas

uag Oete`m`juajsfkakjefeat

dcascrtùf, w`mm oe kome tc dut `ts stkle

brcf kmfcst 4:% tc nust cver ?4%,

wh`me Fr Lhaes àterest w`mm jc gcwabrcf ?8.?% tc ?9.8%. Wu` w`mm cwa ;7%

cb the equ`ty kt the eag cb th`s prcdess,

kjkàst ??% acw.

Whe jckm `s tc thea hkve ka à`t`km

puom`d cbberàj w`thà k yekr cb the

ferjer, w`th k fàcr`ty stkle a the aew

eat`ty tc oe scmg tc aew shkrehcmgers.

Out the oks`d cwaersh`p strudture w`mm

st`mm oe very g`bbereat brcf thkt cb the tcp

three, wh`dh kre ekdh à the dcatrcm cb

pcwerbum kag hkags-ca bkf`mès.

Whkt `s pkrt`dumkrmy the dkse bcr FTD

kag DFK DJF, wh`dh kre kome tc oeaeb`t

brcf k bkst ged`s`ca-fklàj prcdess.

Fkay à the àgustry kre dcavàdeg thkt

the bk`mure cb fcst Ks`ka màes tc leep

korekst cb the`r Eurcpeka r`vkms `s gcwa

tc aterakm ourekudrkdy thkt preveats k

rkp`g respcase tc fkrlet dcag`t`cas cr

àvestfeat cppcrtua`tès.

Fr Oehreagt renedts the gek

thkt Hkpkj-Mmcygs fcre spmàtereg

cwaersh`p, octh acw kag à the buture,

w`mm oe k hkag`dkp ks `t str`ves tc dktdh

up w`th fkrlet mekgers.@ kf very hkppy w`th the t`fe cur

ged`s`ca fklàj prcdess tkles

whea `t wks aedesskry tc oe bkst, we

kmwkys dcumg oe, out scfe rumes kag

gcuome-dhedls kre aeegeg. @ m`le tc oe

spcatkaecus, out `b @ àvest o`mm`cas @

m`le tc thàl tw`de, he sk`g à k w`ge-

rkajàj atervèw w`th Dcatkàer`skt`ca

@aterakt`cakm.

Jrcwth pcteat`km

Tpeklàj nust gkys oebcre ret`r aj brcfthe dhèb exedut`ve pcs`t`ca kag tklàj

k bew fcaths orekl, Fr Oehreagt

dcas`gereg whether Hkpkj-Mmcyg kag

Hkfourj Tg wcumg ever ferje, kbter

twc bk`meg kttefpts, cae ks redeatmy ks

mkst yekr.@t dcumg oe pcssòme, out `t `s act k

pr`cr`ty ca cur kjeagk, he sk`g, w`th

DTKR acw j`vàj jrekter kddess tc the

Tcuth Kfer`dka fkrlets, wh`dh wcumg

hkve oeea the fkà reksca bcr tekfàj

up w`th Hkfourj Tg.

@astekg, the ferjer kag kdqu`s`t`ca

bcdus `s m`lemy tc sw`tdh tc the Ks`k-

Ykd`b`d rej`ca where Hkpkj-Mmcyg sees

jrcwth pcteat`km.

Ksleg `b Hkpkj-Mmcyg hkg oeea

àv`teg tc tekf-up w`th the cther three

Eurcpeka màes tc bcrf whkt wcumg hkve

oeea the Y7 vessem-shkràj kjreefeat,

Fr Oehreagt sk`g there hkg aever oeea

ka kpprckdh. Ks k fefoer cb the J2

kmm`kade kmcaj w`th b`ve Ks`ka màes,

Hkpkj-Mmcyg `s bummy dcff`tteg tc thkt

dcascrtùf, he sk`g.

Hkpkj-Mmcyg `s act camy kocut tc jkà

k aew fkncr shkrehcmger, out k g`bbereat

tekf cb sea`cr exedut`ves ks wemm, w`th

Fr Oehreagt oeàj suddeegeg oy _cmb

Hkooea Nkasea, the bcrfer hekg cb

KY Fcmmer-Fkersls bre`jht bcrwkrgàjsuos`g`kry, Gkfdc.

K Gutdh akt`cakm, he w`mm kmsc oe the

b`rst aca-Jerfka tc rua Hkpkj-Mmcyg.

He w`mm oe suppcrteg oy Kathcay B`rfà,

whc hks tklea cver brcf Umr`dh Lrka`dh ks

dhèb cperktàj cbb`der, kag whc `s Or`t`sh.

Tc Hkpkj-Mmcyg fky ca the bkde cb

`t refkà k quàtesseat kmmy Jerfka

dcfpkay. Out oehàg the sdeaes,

Okmmà Hcuse `s tklàj ca k very

àterakt`cakm bmkvcur thrcujh ts aew

Dh`meka shkrehcmger kag bcre`ja tcpfkakjefeat thkt prcf`se tc oràj

dumturkm g`vers`ty tc th`s p`mmkr cb the

Hkfourj estkom`shfeat.

Umr`dh Lrka`dh,F`dhkemOehreagt,Dhr`stàe kagLmkus-F`dhkemLhae kt theeveat à HkfourjYhctc> Hkpkj-Mmcyg


28/53

Hcst Tpcascr

Jmcokm Ycrt Ykrtaer Tuppcrteg oy Tpcascrs @agustry Ykrtaers Jmcokm Feg`k Tpcascr Crjka`seg oy

;9-;; Gedefoer ?9;7

Whe Kug`tcrùf

Tkatk Druz ge Weaer`be

www.tcd-fkrletorèaj.dcf

AEZ Dcabereade &

Aetwcrlàj eveat à Weaer`be

Fkx`f`sàj ZestKb

Documents

Tạp chí containerisation informa_ci_20140708.pdf