LONDON--(BUSINESS WIRE)--Please replace the release dated November 11, 2016 with the following corrected version due to multiple revisions.
The corrected release reads:
GLOBAL SEA LOGISTICS MARKET TO WITNESS GROWTH THROUGH 2020, IN ALL 3 GEOGRAPHIES, REPORTS TECHNAVIO
The global sea logistics market’s share of purchasing spend was more than USD 374 billion during 2015, according to Technavio’s category spend intelligence researchers.
This report covers the market outlook and growth prospects of the global sea logistics market for 2016-2020. The report also labels APM-Maersk, Mediterranean Shg Co., CMA CGM Group, COSCO Container Lines, and Evergreen Line as the top global suppliers in the market.
The global sea logistics supply market is fragmented, as there are many regional players. However, major clients (typically Fortune 500 companies) prefer engaging with larger global suppliers as they have expertise in managing different kinds of sea cargo and can minimize risks of damage and loss. APM Maersk and Mediterranean Shg Co. are the top global suppliers that offer a wide range of services and together they accounted for 28% of the global market share (in 2015) in terms of TEU.
Angad Singh, a category specialist at Technavio, says, “Global demand for dry bulk shipping accounted for a major portion of the overall market spend. By 2017, the demand for this segment is expected to account for more than 50% of the total spend. This can be attributed to the decline in service prices resulting from the decrease in bunker fuel costs, relaxation of global regulatory compliances, and economies of scale procured by such shipments.”
The report segments the global sea logistics market into the following key regions:
EMEA: most major suppliers have a strong foothold in this market
In EMEA, the supply market of sea logistics is highly fragmented, with many regional players competing with global suppliers. Most major suppliers have a strong foothold in this market.
In 2014, the Dubai port operated the highest container terminal throughput of 15,200,000 TEU in the EMEA region, closely followed by Rotterdam, Hamburg, and Antwerp with container throughputs of 12,298,000 TEU, 9,729,000 TEU, and 8,978,000 TEU, respectively.
APAC: home to 13 ports that feature in the list of top 20 ports
The top five suppliers from APAC accounted for more than 20% of the global sea logistics market in 2015. The market grew at a CAGR of 4.5% in 2015 due to the significant growth in the manufacturing and oil and gas sectors, both of which have ample sea freight transportation requirements.
APAC has 13 ports that feature in the top 20 list of ports with the highest container terminal throughput in the world. The Shanghai and Singapore ports recorded the highest container terminal throughput globally (35,290,000 TEU and 33,869,000 TEU, respectively).
Americas: Panama has the highest number of registered fleet vessels
In 2014, containerized cargo flow on major trade routes such as transpacific (Asia-North America) and transatlantic (Europe-North America) was 14.7 million TEU and 3.9 million TEU, respectively. Ports in Los Angeles and Cuba recorded the highest container terminal throughput each (8,340,000 TEU and 300,836 TEU, respectively) in the Americas in 2014.
Panama has the highest number of registered fleet vessels (8,351), accounting for 9.33% of all the vessels around the world.
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