Dublin, June 08, 2021 (GLOBE NEWSWIRE) -- The "Global Maritime Freight Transport Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The global maritime freight transport segment is expected to exhibit a growth of about 4% during the forecast period. The traditional port world is changing as the demographical, technological, and sustainability drivers are affecting the daily business and shaping several important trends. The global shipping industry is expected to face a number of challenges including geopolitical uncertainties, such as the US-China trade negotiations and Brexit.
China has a strong influence on the shipping sector since it is a major trade partner for several countries. Although, the container shipping market in China is facing some early year disruption due to COVID-19. Even though the bunker prices have been increased about 35-45% from January 2020, largely due to changes in fuel regulation on the usage of Low Sulphur Fuel by IMO 2020, the crash in the oil prices due to COVID-19 have nullified this effect.
Tanker rates have profited tremendously from high demand for floating storage, but the charter rates are expected to return closer to long-run averages in the second half of the year as broad economic weakness finds its way into the tanker market.
Key Market Trends
Containerization evolving as a Trend
According to UNCTAD (United Nations Conference on Trade and Development), international maritime trade is driven in particular by growth in containerized, dry bulk and gas cargos. However, uncertainties like the geopolitical tensions and global pandemic like COVID-19 remain an overriding theme in the current maritime transport environment, with risks tilted to the downside. The long-term trend towards the containerization of general cargo is upward rising. A large share of globalized containerized trade continued to be carried across the major East-West containerized trade arteries, namely Asia-Europe, the Trans-Pacific and the Transatlantic. Containerized and dry bulk trades are expected to grow at a compound annual growth rate of 4.5% and 3.9%, respectively, over the forecasting period.
Asia Pacific - the Fastest Growing Market
The Asia Pacific region consists of some of the fastest-growing economies in the world like China and India. This growth in the maritime transportation sector is supported by the trade exchanges by these countries of which, the majority of international trade takes place via sea routes. The central role of Asia in global trade and shipping is also highlighted by trends in global container port-handling activities. Asian countries are experiencing a large increase in intra-regional trade mostly based on manufacturing trades and reflecting fragmented production processes where parts are generally manufactured in multiple locations across Asia and assembled in another location. This is also expected to increase trade, supported by marine transportation. Demand growth originated mostly in Asia, bolstered by ongoing energy policy shifts and rising export capacity in Australia and the United States.
The global maritime transport market is fairly concentrated, with a few players accounting for significant amounts of shares in the market. Some of the prominent companies in the market are MSC, COSCO and AP Moller.
Maritime transport is a complex area of activity, owing to the inherently international nature of shipping and its multi-stakeholder dimension. The companies in the sector, currently are focusing on complying with the International Maritime Organization's lower global sulphur cap on marine fuels (IMO 2020) from January 2020 as the segment moves towards implementing the plans to reduce its carbon footprint and contribution to pollution.
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Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Current Market Scenario
4.2 Market Dynamics
4.3 Value Chain/Supply Chain Analysis
4.4 Technological Advancements
4.5 Government Regulations and Key Initiatives
4.6 Insights of Transshipment Trade
4.7 Insights on Containerized and Non-Containerized Shipments
4.8 Freight rates and Maritime Transport Costs
4.9 Insights on Intermodal/Container Utilization
4.10 Demand-supply Analysis
4.11 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Type
5.2 By Geography
5.2.1 North America
22.214.171.124 United States
126.96.36.199 Rest of North America
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 Rest of Asia-Pacific
5.2.4 Middle East & Africa
18.104.22.168 Saudi Arabia
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East & Africa
5.2.5 South America
188.8.131.52 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 AP Moller (Maersk)
6.2.2 Mediterranean Shipping Company S.A. (MSC)
6.2.4 China Ocean Shipping (Group) Company (COSCO)
6.2.6 ONE - Ocean Network Express
6.2.7 Evergreen Line
6.2.8 HMM Co. Ltd
6.2.9 Yang Ming Marine Transport
6.2.11 Wan Hai Lines
6.2.12 PIL Pacific International Line
7 FUTURE OF GLOBAL MARINE FREIGHT TRANSPORT MARKET
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