Immersed in an increasingly globalized economy in recent years, the Spanish shipping sector has not escaped this widespread trend and its repercussions. In the last 15 years, since the gradual opening of international freight traffic was approved in 1986, Spanish shipping companies have been forced to face significant new changes and challenges.
This gradual liberalization towards internationalization in transport has been a revolution for Spanish companies in the sector. Shipping companies have suffered losses in the volume of their coastal shipping during this process, but have experienced increases in their efficiency.
During this period, with the emergence of European competition in Spanish ports, Spanish companies lost 60% of their tonnage and a large part of the fleet became part of foreign registries.
In short, the sector has successfully adapted to the new global market context. The gradual reduction in the costs of Spanish ships, the increase in investments for fleet renewal, the diversification and expansion of regular cabotage services (thanks mainly to the Royal Decree on Regular Maritime Cabotage Transport), and the sharp decrease in freight rates are some examples that demonstrate the good performance of this sector.
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