Dry Bulk Shipping is fastest growing segment fueling the growth of...

Dry Bulk Shipping is fastest growing segment fueling the growth of the Global Shipbroking Market

Posté 2023-12-08 12:37:19

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Shipbroking refers to the business of arranging shipping contracts for transportation of cargo by ship. Shipbroking helps shipping companies optimize cargo utilization and provides an efficient platform for carriers and cargo owners to connect. Dry bulk carriers that transport commodities like coal, iron ore and grains represent a major segment served by shipbrokers.

The Global Shipbroking Market Demand is estimated to be valued at US$ 251.32 Mn in 2023 and is expected to exhibit a CAGR of 2.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The dry bulk shipping segment within the overall shipbroking market is witnessing significant growth driven by rising global seaborne trade of major dry bulk commodities. Growing energy and construction sector across developing economies is driving the demand for dry bulk commodities like coal and iron ore. Adoption of advanced digital technologies by major shipbrokers to offer online platforms for chartering is also supporting the market growth. This is helping bulk cargo owners and ship owners conduct business remotely and track shipments in real-time.

Segment Analysis

The global shipbroking market is segmented based on type into dry cargo brokerage and tanker brokerage. The dry cargo brokerage segment is expected to dominate the shipbroking market during the forecast period. This is because dry cargo ships account for the majority of global ship tonnage and shipping volumes. They handle dry commodities like coal, grain, steel, and other raw materials. There is a constant demand for transportation of such bulk goods, fueling sales opportunities for dry cargo brokers.

Key Takeaways

The global shipbroking market is expected to witness high growth, exhibiting CAGR of 2.9% over the forecast period, due to increasing global seaborne trade volumes.

Regional analysis
Asia Pacific region is expected to be the fastest growing as well as dominating region in the shipbroking market during the forecast period. This is attributed to the presence of major shipbroking markets in countries like China, Singapore, Japan and South Korea. These countries account for a significant share of global shipping tonnage.

Key players
Key players operating in the shipbroking market are Aries Shipbroking (Asia) Pte Ltd.,Braemar Shipping Services Plc,BRS Group,Chowgule Brothers Pvt. Ltd.,Clarkson PLC,E.A. Gibson Shipbrokers Ltd.,Fearnleys AS,Galbraiths Ltd.,Howe Robinson Partners Pte Ltd.,INTEROCEAN,Lorentzen & Stemoco AS,Maersk Broker KS,Maritime London Ltd.,McQuilling Partners Inc.,Poten and Partners Inc.

For more details on the report, Read-

https://perfectinsights.blogspot.com/2023/12/shipbroking-is-estimated-to-witness.html