Page 86 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - ΜΑΙΟΣ 2024

INTERNATIONAL WATERS

BLUE SETTING SAIL TO BUILD 10,000
The volume of SUSTAINABLE AND DIGITALISED
investments ECONOMY VESSELS IN EUROPE BY 2035
in the blue SEA Europe, the association representing the
economy sector European maritime technology industry, com-
reached more INVESTMENTS IN THE BLUE ECONOMY prising shipyards and maritime equipment man-
than €13 ARE ON THE INCREASE ufacturers, has issued a resounding call to action
billion between The BlueInvest Investor Report 2024, published to European policymakers. SEA Europe is urging
2018 and 2023. by the EU, shows a remarkable increase in blue them to formulate a comprehensive European
economy investments in recent years. Maritime Industrial Strategy.
Findings show that an investment ecosystem to The maritime technology industry is pivotal for
support blue economy innovation is taking shape, Europe’s strategic independence. It builds, equips,
and the BlueInvest initiative has been a driving and maintains vessels and platforms crucial for
force behind this change. transporting goods, people, and energy, con-
Five key insights on the blue economy invest- necting maritime regions, and bolstering the Blue
ments landscape in the EU: Economy. Furthermore, it provides naval capabil-
• The volume of disclosed investments ities essential for Europe’s defence and security.
in the blue economy has significantly Despite its strategic role, the European mari-
increased. It is three times larger time technology industry has faced considera-
than it was ten years ago, reaching ble challenges over the past years, mainly due to
more than €13 billion between 2018 longstanding competition distortions from Asia.
and 2023. Consequently, Europe has experienced a signif-
• Since 2018, the number of deals in the icant erosion in its merchant and offshore ship-
blue economy has increased. About building. This decline has not only jeopardised the
270 deals have been closed every industrial capacity of European shipyards but also
year in the blue economy, at least 30 undermined the entire supply chain ecosystem
private equity/venture capital funds encompassing equipment, systems, and technol-
are focused on blue economy deals, ogies and harmed naval shipbuilding capabilities.
and the number is growing. This trend Because of substantial price differentials of 30%
indicates a positive outlook and a to 40%, combined with advantageous finan-
strong growth pattern for the sector. cial incentives – especially offered by Chinese
• 3. 75% of European blue economy banks – European shipowners have increasingly
deals occur within the EU, with half opted for Asian shipbuilders. As a result, Euro-
of the investors coming from non-EU pean shipyards have seen a significant decline
countries. That shows how EU com- in orders. This trend not only poses a substan-
panies create substantial business tial economic risk but also undermines Europe’s
opportunities that attract investors strategic autonomy, particularly amidst current
from other regions. geopolitical tensions.
• In terms of the number of deals, Christophe Tytgat, Secretary-General of SEA
mergers and acquisitions represent Europe, underscored the urgency of the situation:
about 38%, followed by early-stage “It is imperative to regain Europe’s shipbuilding
equity investments (34%), ahead of capacity by securing orders from shipowners,
growth-equity investments (11%), including European shipowners. The transition
and grants (7%), suggesting a lim- towards sustainability and digitalisation within
ited average level of maturity of the waterborne transport and the Blue Economy is a
blue economy sector overall, par- promising opportunity for Europe to surpass global
ticularly given the relatively modest competitors in quality, efficiency, and safety. Our
amounts being invested into growth- ambition is clear: by 2035, we aim to supply 10,000
stage companies. sustainable and digitalised vessels to strategic sec-
• The three most dynamic sectors are tors of the European Blue Economy”.
blue renewable energy, blue tech and Christophe Tytgat emphasised the critical need
ocean observation, and aquaculture. for EU policymakers to enact a Maritime Indus-
At the other end of the spectrum, trial Strategy as a matter of priority for Europe’s
sustainable coastal and maritime strategic autonomy: “We call upon EU policymak-
tourism, as well as environmental ers to urgently put in place a Maritime Industrial
protection and regeneration, have Strategy to support the business cases of the
closed fewer deals. European maritime technology industry.

82