The Global Shipbroking Market Report is a compilation of comprehensive research studies of various aspects of the Shipbroking Market. With accurate data and highly authentic information, a brilliant attempt is made to paint a true, transparent picture of the current and future situations of the global Shipbroking market. Market participants can use this powerful tool when creating effective business plans or making major changes to their strategies. The report discusses the growth of the global as well as regional markets. It also throws light on high-growth segments of the global Shipbroking market and how they will evolve in the years to come.
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In terms of revenue, the shipbroking market was valued at US$ 1,237.7 Mn in 2022 and is growing at a CAGR of 2.9% over the forecast period. . Barry Rogliano Salles International S.A, Braemar Shipping Services PLC, Bright Cook & Co (S&P) Limited, Charles R. Weber Company, Inc, CLARKSON PLC, Compass Maritime Services, LLC, E.A. Gibson Shipbrokers Ltd, Howe Robinson Partners, INTEROCEAN SHIPPING COMPANY, Maersk Broker K/S, McQuilling Partners, Inc, Poten and Partners Group, Inc, Simpson Spence Young, SPI Marine, and Velian Ship Brokers amongst others.
Shipping companies have undergone major structural changes since its inception. Earlier these companies were involved in operations related to shipbuilding contract, staffing, technical and all commercial activities. With the increase in complexities in documentations related to financing of the ships and its security, the commercial activities have now been recognized as a separate entity and are generally carried out by brokers who are commonly known as ship brokers who act as intermediaries between the cargo operators and the ship owners. This in turn has increased the demand for shipbrokers across all shipping companies which is directly influencing the growth of the shipbroking market.
The shipbroking market is majorly driven by stringent government norms that safeguard companies and brokers from any unforeseen claims and liabilities. For instance, government bodies across various geographies such as United States and Europe have made insurance policies to save charterers from any loss due to sinking or other activities on a long term charter. There are two types of commission covers, one where the charter is destroyed or cancelled due to various marine perils like bad weather, fire, and theft amongst others and the other where the vessels suffer a major loss due to the negligence of the master or crew of the vessel. These insurance policies cover the overall risk of the shipbrokers thereby influencing the growth of the shipbroking market. On the other hand, the manufacturing segment contributes to the maximum revenue of the shipbroking market. This is attributed to the increased production capacities across industries like fashion and steel owing to the implementation of internet of things in areas like supply chain management, safety and security management amongst others. This is enabling countries like India and France to produce at larger scale and export across the globe. This in turn is rising the demand for shipbroking services for a smooth flow of cross border movement of the manufactured products.
According to the research carried out by Absolute Market Insights, maximum share of revenue for the shipbroking market is derived from chartering services segment. These services include vessel charting services and custom sea freight services across container vessels, tankers and dry cargoes. The documentation process involved in sending cargos cross borders are complex and extensive and requires thorough knowledge of the same. Due to lack of this professional knowledge in vessel owners they hire charterer for the process which in turn is rising the demand for charting services in the shipping industry. In terms of regional bifurcation Asia Pacific is contributing for the maximum share followed by Europe and North America in 2018. The growth of Asia Pacific is attributed by the presence of major players in the region like Howe Robinson Partners and Interocean Shipping Company. Both of these companies are involved in offering a wide range of shipbroking services such as marine evaluations, sales & purchase and specialized tankers amongst others. Thus, such factors are anticipated to propel the shipbroking market during the forecast period.
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Shipbroking Market:
- By Services
- Charting
- Container Vessels
- Tankers
- Dry Bulk
- Sales and Purchase
- Valuations
- Recycling
- Offshore
- New buildings
- Salvage and Towage
- Charting
- By Vertical
- Oil and Gas
- Manufacturing
- Aerospace and Defense
- Government
- Others
- By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
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