Global Dry Bulk Shipping Market: Information by Type (Capesize, Panama, Supramax and Handysize), Application (Iron Ore, Coal, Grains, Bauxite/Alumina and Phosphate Rock) and Geography – Forecast till 2025
Overview
The Global Dry Bulk Shipping Market is expected to gain an unprecedented volume of USD 6,100.0 Million tons by 2025 with a CAGR of 4.65% during the forecast period (2018–2025). Market Research Future (MRFR) in their report envelops segmentations and drivers for a better glimpse of the market in the coming years. Dry bulk shipping denotes the movement of significant bulk commodities, such as iron ore, coal, and grain in vessels, which also carry lumber, steel products, such as coils, plates, and rods, and other commodities. During the forecast period, the market is expected to be driven by various factors, such as the rise in seaborne trade and increase in coal and iron ore transportation. However, stagnant economic conditions might hamper the market growth during the forecast period. Geographical Analysis
Competitive Analysis
Some of the prominent players operating in the global dry bulk shipping industry are Scorpio Bulkers, Inc (Monaco), Star Bulk Carriers Corporation (Greece), Pacific Basin Shipping Limited. (Hong Kong), Golden Ocean (Bermuda), Diana Shipping Inc. (Greece), Dampskibsselskabet Norden A/S (Denmark), DryShips Inc (Greece), Masterbulk Pte Ltd (Singapore), Genco Shipping & Trading Limited (US), Belships ASA (Norway), Western Bulk (Norway), Ultrabulk A/S (Denmark), Oldendorff (Germany), Marine Services Co. Ltd. (Saudi Arabia), Marquette Transportation Company LLC. (US).
For instance, in May 2019 Scorpio Bulkers Inc. signed a contract with CMB Financial Leasing Co., Ltd. (China) to sell and leaseback three Ultramax vessels and four Kamsarmax vessels. This agreement is expected to increase company’s liquidity up to USD 57.2 million in aggregate.
In May 2019, Star Bulk Carriers Corp signed a contract with Delphin Shipping LLC to acquire eleven operating dry bulk vessels for an aggregate purchase price of USD139.5 million. Due to this, Delphin Shipping LLC is expected to own approximately 4.6% of the outstanding common shares of the company.
Segmentation
The global dry bulk shipping market is segmented based on type and application. On the basis of type, the global dry bulk shipping market is segmented as capesize, panama, supramax, and handysize. The capesize segment is expected to dominate the market.
On the basis of application, the global dry bulk shipping market is segmented as iron ore, coal, grains, bauxite/alumina, and phosphate rock. The ironore segment is expected to dominate the market, as iron ore is the largest traded commodity across various developing and developed nations.
Key Questions Addressed by the Report
- What was the historic market size (2018)?
- Which segmentation (Type/ /Application) is driving the market?
- What will be the growth rate by 2025?
- How are the key players in this market?
- What are the strategies adopted by key players?
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