According to recent official statistics from the Italian
Ministry for Infrastructure and Transport (2012–13), gross
fixed investment in the Italian transport sector represented 8.3 to
9.9 per cent of the total economy between 2000 and 2013.
A globalised sector such as air transport will be influenced by
the general European trend of the gradual decline of the national
flag carrier (in Italy, this would be Alitalia), entailing that
fewer and fewer public funds are invested and more private capital
enters the sector. Moreover, traditional carriers are losing ground
to foreign low-cost carriers and also face increased competition
from high-speed trains on some critical national routes. This has
triggered important developments in terms of industrial
infrastructure and capital.
With respect to shipping, Italy is traditionally known for its
family shipping businesses, few listed companies and analysts, and
a very traditional approach to financing. Shipping represents a
major branch of Italy's maritime economy, which in turn plays a
key role in the national economy: the turnover of the sector was
around €40 billion.
Finally, regarding the railway sector, Italy's national
railway company FS, formerly a public agency, became a limited
company in 1992. The rail market was also liberalised but
Trenitalia, wholly-owned by FS, remains the major Italian rail
carrier of passengers and goods. The public sector has in fact
financed rail transportation in Italy with considerable
It is clear that the various transport segments in Italy have
been significantly affected by the economic crisis, but since 2009,
each has responded differently.
What sectors will face the biggest challenges in 2016/2017 in the UK & Europe? This series offers industry insights, real time updates, analysis of the market and key considerations for stakeholders to emerge stronger.
It is common practice for traders, usually when they are the sellers of the goods and the charterers of a vessel, to instruct the carrier to discharge cargoes without production of the original bills of lading and to agree to indemnify the carrier against the consequences of doing so.
As you may be aware, one of South Korea's largest shipowners, Hanjin Shipping Co Ltd ("Hanjin"), has applied for court rehabilitation in Korea.
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