Press release
Shipbroking Market Size, Trends and Forecast 2023
View the detailed report description here https://www.precisionbusinessinsights.com/market-reports/shipbroking-market
The global shipbroking market segmentation:
1) By Type: Dry Cargo Broking, Tanker Broking, Container Vessel Broking, Futures Broking, Other
2) By Application: Bulker, Tanker, Other
The dry cargo broking segment is anticipated to expand at notable CAGR in the global shipbroking market. Dry cargo vessels are used for transporting bulk commodities such as grains, coal, iron ore, and other dry goods. The dry cargo broking segment is highly sought after due to the consistent demand for these commodities in various industries, including agriculture, mining, and manufacturing.
The segment offers lucrative opportunities for shipbrokers to facilitate chartering agreements, negotiate freight rates, and match cargo requirements with available vessels, making it a key focus in the shipbroking market.
Asia Pacific Leads the Global Shipbroking Market.
Asia Pacific, the shipbroking market holds a market share of 36.7% in 2022 and the market is expected to grow at a significant CAGR during the forecast period. Rise of regional shipbroking hubs: Several countries in the Asia Pacific region, such as Singapore and Hong Kong, have emerged as prominent shipbroking hubs. These hubs provide a conducive business environment, advanced infrastructure, and a well-established network of industry professionals. Shipbroking firms and professionals in these hubs offer specialized services, market intelligence, and a deep understanding of the regional shipping landscape, attracting clients and fostering the growth of the shipbroking market in the Asia Pacific region.
Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.
The Shipbroking market further reveals that the key players increasingly adopting strategies such as the launch of newer products, frequent product approvals, and long-term alliances to improve market revenue share and gaining significant geographic presence across the region. In March 2023, Maersk and IBM partnered to develop a new blockchain-based platform for shipbroking: In March 2023, Maersk and IBM announced a partnership to develop a new blockchain-based platform shipbroking. The platform will use blockchain technology to improve the transparency and efficiency of the shipbroking process.
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Key players' profiles in the Shipbroking Market report 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.
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