The Asia Pacific Shipbroking Market was valued at USD 771.93 million in 2023 and is projected to grow at a CAGR of 3.2% over the forecast period.
Market Definition:
Shipbroking is a financial service integral to the shipping industry. Shipbrokers act as intermediaries between ship owners and charterers, or between buyers and sellers of ships. Some brokerage firms have expanded into major entities with specialized departments for different shipping sectors, such as Dry Cargo Chartering, Tanker Chartering, Container Chartering, Sales and Purchase, and Demolition. Major global hubs for shipping and shipbroking include London, New York, Singapore, and Tokyo. Shipbroking activities generally fall into three main categories: Dry Cargo Chartering, Tanker Chartering, and Ship Sale and Purchase.
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Market Dynamics:
Market Dynamics:
Growth Drivers: The growth of the shipbroking market in Asia Pacific is primarily driven by technological advancements, government initiatives, and digitalization. Increased investments in the marine sector have spurred demand for Automatic Identification Systems (AIS) for vessel tracking. Unlike radar systems, AIS operates without manual intervention and remains effective under various weather conditions, offering extended wavelength capabilities, especially at night. Initially used for collision prevention and safety, AIS technology now supports cost-effective navigation and dynamic information transfer. Oil companies and large shipping operators are key users of AIS. Additionally, the expansion of global sea trade and rapid globalization are significant contributors to the market’s growth.
Challenges: In 2020, the shipbroking market faced challenges, including a 12% decline in ship deliveries due to labor shortages caused by lockdowns, which disrupted marine-industrial activities. Delivered ships were predominantly bulk carriers, followed by oil tankers and container ships. To address the tight supply of vessels, operators began purchasing more second-hand ships, leading to price increases. New ship orders dropped by 16%, exacerbated by unexpected demand for containerization and logistical issues that constrained shipping capacity and led to container shortages.
Market Segment Analysis:
By Type: The Asia Pacific shipbroking market is segmented into Container Vessels, Tankers, Dry Bulk, Valuations, and Recycling. In 2023, the Dry Bulk segment held the largest market share and is expected to maintain its dominance throughout the forecast period. Dry bulk commodities, which are raw materials shipped in large, unpackaged quantities, include items like iron ore, coal, grain, bauxite, sand, gravel, and scrap metal. These commodities are essential for manufacturing and production processes, contributing to the segment’s continued prominence.
Container Vessels
Tankers
Dry Bulk
Valuation
Recycling
by End-Use
Oil and Gas
Manufacturing
Aerospace and Defense
Government
For a thorough exploration of this study, visit this link:https://www.stellarmr.com/report/req_sample/Asia-Pacific-Shipbroking-Market/1307
Asia Pacific Shipbroking Market Key Players:
Clarkson Plc
EA Gibson Shipbrokers Ltd
Howe Robinson Partners Pte Ltd
Lorentzen and Stemoco AS
Maersk Broker KSÂ
McQuilling Partners Inc
Poten and Partners Inc
Simpson Spence Young Ltd
Braemar Shipping Services
Compass Maritime Services LLC
BRIGHT COOK and CO LIMITED
Visit this link to explore the complete findings of the study:https://www.stellarmr.com/report/Asia-Pacific-Shipbroking-Market/1307
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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