2020 Outlook on the Worldwide Shipbroking Industry - Increasing Global Seaborne Trade is Driving the Market - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Shipbroking Market: Size and Trends with Impact Analysis of COVID-19 (2020 Edition)" report has been added to ResearchAndMarkets.com's offering.

This report provides an analysis of the global shipbroking market with detailed qualitative analysis of the impact of COVID-19 on different segments within shipbroking. The report also includes an assessment of the market in terms of value and segment.

Shipping is characterized as the physical procedure of transferring a thing, commodities, merchandise goods and cargo from one place to another. The major components involved in shipping are Shipowners, Charterers and Shipbrokers.

Shipowners own the ship and provide for commercial use for their own profit. Charterers, a person or the company who hires the ship/vessel for use to transport cargo. There are different types of chartering named as Voyage Charter, Time Charter, Bareboat Charter and Demise Charter.

Shipbrokers, act as an intermediary between ship owners and ship charterers. The different categories of shipbrokers are sales & purchase brokers, bulkers brokers, tanker brokers and container brokers.

Shipbroking suggests a movement of ships/cargo which is an integral part of the global shipping industry. The shipbrokers part is to act as a middle people amongst shipowners and the charterers who utilize ships to transport payload, or amongst purchasers and venders of ships. The different types of shipbrokers are sales & purchase brokers, dry cargo brokers, tanker brokers and container brokers.

Over the last decade, the global shipbroking market was supported by various growth drivers, such as, increasing global seaborne trade, falling oil prices, accelerating economic growth, rising global energy consumption, etc.

The speedy spread of COVID-19 has had a major impact on global shipping markets. COVID-19 has led to reduced demand for goods from China. This, in turn, is having a cascading effect on shipping markets be it container ships or oil tankers. The recovery in the shipping sectors like dry bulk and containers would be entirely dependent on a recovery in global economic activity, post abatement of the COVID-19 outbreak, starting from China. However, as to when the COVID-19 impact would subside is difficult to predict as the crisis is still in an evolving stage.

Market Dynamics

Drivers

• Increasing Global Seaborne Trade
• Accelerating Economic Growth
• Rising Global Energy Consumption
• Falling Oil Prices

Challenges

• Environmental Protocols
• Security Threats
• Low Demand and Oversupply

Market Trends

• Rise in Global Trade & Industrial Production
• Digital Sensoring
• Use of Renewable Resources
• Green Shipping
• Liquefied Natural Gas (LNG) As Fuel Alternative
  

Companies Profiled

• A.P. Moller-Maersk Group
• Braemar Plc
• Clarkson Plc

For more information about this report visit https://www.researchandmarkets.com/r/f2jz36