Sea Freight Forwarding Market estimated to register a Strong Growth Rate during 2024 - 2031 | Kuehne + Nagel International AG, Sinotrans Limited, DB Schenker, CEVA Logistics, Expeditors International, Kerry Logistics

Sea freight forwarding is a crucial aspect of global trade and logistics, involving the transportation of goods via ocean vessels from one port to another. It encompasses a range of services provided by freight forwarders to facilitate the smooth movement of cargo At its core, sea freight forwarding involves coordinating the entire shipping process, from the initial booking of cargo space on a vessel to the final delivery at the destination port. This includes handling documentation, customs clearance, cargo insurance, and often warehousing and distribution services.

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Top Key Players Profiled in This Report:
Kuehne + Nagel International AG, Sinotrans Limited, DB Schenker, CEVA Logistics, Expeditors International, Kerry Logistics, Nippon Express Co. Ltd, UPS Supply Chain Solutions, Bollore Logistics, DHL Supply Chain & Global Forwarding and Others.

Due to the outbreak of COVID-19 pandemic, a lot of cargo ships were not allowed to dock at ports by local authorities. Hence a lot of merchant sailors were stranded on ship itself. Ship owners also had to pay additional cost since their ships were stranded on territorial water for an extended period. In addition, owing to the outbreak, movement of ships were restricted thus there were a lot of seafarers who reached to the end of their employment contract and needed them to be renewed. Moreover, to prevent the risk of spreading of COVID-19 there has been a decline in import and export of products and goods. Thus, COVID-19 severely affected freight forwarding market since, since there were a lot of ships whose lease had ended and required renewal but lessee where not able to pay due to financial constraint. COVID-19 has severely affected the shipping industry, which is expected to recover soon since, shipping plays a very important role in transportation worldwide.

Sea Freight Forwarding Market Dynamics
1. Drivers: Global Trade Expansion Propels Sea Freight Forwarding Market Growth.
2. Restraints: Supply Chain Disruptions and Port Congestion Hinder Sea Freight Operations.
3. Opportunities: Emerging Markets Present Lucrative Opportunities for Sea Freight Forwarders.
4. Challenges: Competitive Landscape Intensifies as Digital Disruption Reshapes Sea Freight Industry.

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Sea Freight Forwarding Market Segmentation by Service:
• Full Container Load
• Less-than Container Load
• Others

Sea Freight Forwarding Market Segmentation by Application:
• Agricultural
• Automotive
• Beverage
• Electronic
• Others

Sea Freight Forwarding Market by Regions:
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia etc.)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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