Press release
Shipbroking Market Report, Size, Share, Growth, Trends, Industry Analysis, Forecast to 2033
Shipbroking Market
The new report published by The Business Research Company, titled Shipbroking Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the shipbroking market size has grown steadily in recent years. It will grow from $1.33 billion in 2023 to $1.39 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The shipbroking market size is expected to see strong growth in the next few years. It will grow to $1.69 billion in 2028 at a compound annual growth rate (CAGR) of 5%.
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What Is Driving The Growth Of The Global Shipbroking Market?
Rising Cargo Logistics Demand Spurs Shipbroking Growth
The rising demand for cargo logistics is expected to propel the growth of the shipbroking market going forward. Cargo logistics refers to the efficient planning, execution, and control of the movement and storage of goods from their origin to their destination. The demand for cargo logistics is rising due to the globalization of supply chains and increasing international trade, necessitating efficient and reliable transportation and storage solutions. Shipbroking enhances cargo logistics by negotiating and arranging sea transport, efficiently matching cargoes with vessels, and managing contracts and freight rates to ensure smooth and cost-effective movement of goods. For instance, in June 2024, according to the United States Department of Transportation, a US-based government department, in 2023, the domestic U.S. transportation through Water mode was 644 million tons, expected to reach 1,238 million tons in 2050 . Therefore, rising demand for cargo logistics is driving the growth of the shipbroking market.
What Is The Key Trend In The Global Shipbroking Market?
Digital Innovations Enhance Shipbroking Efficiency And Transparency
Major companies operating in the shipbroking market are focusing on developing advanced digital solutions, such as vessel auction platforms, to streamline vessel transactions and enhance market transparency. Vessel auction platforms are online platforms designed for the competitive bidding and selling of ships, promoting efficient and transparent transactions in the maritime industry. For instance, in September 2023, GMS Inc., a United Arab Emirates-based provider of ship recycling and cash buyer services, launched the Ship Recycling Portal, a groundbreaking digital platform to transform the ship recycling industry. The ship recycling portal revolutionizes ship recycling by simplifying the sale of end-of-life vessels directly to shipyards. This platform facilitates real-time auctions for end-of-life vessels, allowing ship recyclers to bid conveniently from their offices or homes, eliminating the need for in-person negotiations. The portal provides a transparent and efficient process, enabling buyers to see competing offers and make informed decisions. The platform is also open to other shipowners and cash buyers, positioning it as a potential primary method for delivering vessels to recycling yards in the future.
How Is The Global Shipbroking Market Segmented?
The shipbroking market covered in this report is segmented -
1) By Type: Container Vessels, Tankers, Dry Bulk, Valuations, Recycling
2) By Application: Bulker, Tanker, Other Applications
3) By End Use: Oil And Gas, Manufacturing, Aerospace And Defense, Government, Other End Users
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How Is The Competitive Landscape Of The Global Shipbroking Market?
Major companies operating in the shipbroking market are Maersk Broker K/S, Clarkson Plc, Barry Rogliano Salles International S.A., Simpson Spence Young Ltd, Howe Robinson Partners Pte Ltd, Poten and Partners Inc, SPI Marine LtdE.A. Gibson Shipbrokers Ltd, Galbraiths Ltd, ShipServ Ltd, Lorentzen and Stemoco AS, McQuilling Partners Inc, Maritime London Ltd, Braemar Shipping Services Plc, Agora Shipbroking Corporation, Anchor Shipbroking Inc, Bright Cook & Co Limited, Endole Ltd, Charles R. Weber Company Inc, Compass Maritime Services LLC, Fearnley Securities, Interocean Group, Seacore Shipbrokers Ltd, Shiplinks, Velian Ship Brokers
Contents Of The Global Shipbroking Market
1. Executive Summary
2. Shipbroking Market Report Structure
3. Shipbroking Market Trends And Strategies
4. Shipbroking Market - Macro Economic Scenario
5. Shipbroking Market Size And Growth
…..
27. Shipbroking Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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