About Dry Bulk Shipping
Dry bulk shipping referred to the movement of noteworthy commodities in bulk including major bulks such as iron ore, coal, and grain; together with ships carrying steel products such as coils, rods, and plates; lumber or log and other commodities classified as the minor bulks. Other cargo ships include ore bulk ore carriers, which are vessels able to trade alternately wet and dry cargoes. The importance of dry bulk shipping is significant, as global trade is dependent on it. The international steel industry is primarily dependent on it, as the transportation of raw materials like iron ore is reliant on it. Owing to the rapidly increasing international trade, dry bulk shipping has surged across the globe.
|Value (USD Million)
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that Greece Manufacturers will contribute the maximum growth to Global Dry Bulk Shipping market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Diana Shippping, Inc. (Greece), Star Bulk Carriers Corp (Greece), Scorpio Bulkers, Inc. (Monaco), Genco Shipping & Trading Limited (United States), GAC (United Arab Emirates), Freeseas Inc. (Greece), NYK Line (North America), Globus Maritime Limited (Greece), Western Bulk (Norway) and Berge Bulk (Singapore) are some of the key players that are part of study coverage.
AMA Research has segmented the market of Global Dry Bulk Shipping market by , Application (Iron Ore, Coal, Grain, Steel Products, Lumber or Log and Other Commodities) and Region.
On the basis of geography, the market of Dry Bulk Shipping has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Vessel Type, the sub-segment i.e. Capesize will boost the Dry Bulk Shipping market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Commodity Type, the sub-segment i.e. Iron ore will boost the Dry Bulk Shipping market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Adoption of Coastal Shipping and Containerization of Dry Bulk
Market Growth Drivers:
Increasing Global GDP, Rapid Urbanization and Increasing Steel Production
Fluctuating Scrapping Rate
High Transportation and Infrastructure Costs and Trade Barriers and Global Threat
Emerging Demand from Economies
Market Leaders and their expansionary development strategies
In October 2023, Japan's Kawasaki Kisen Kaisha (K Line) announced plans to merge with its smaller rival, MOL (Mitsui O.S.K. Lines). The combined company will be the world's third-largest dry bulk shipping company, with a fleet of over 400 vessels.
Key Target AudienceDry Bulk Shipping Traders, Industry Association, Downstream Vendors, Steel Traders and Importer/Exporter
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.