Dry Bulk Shipping Market research scope: In-depth Growth Analysis, Development, share and Revenues by 2030
COVINA , CALIFORNIA, UNITED STATES, March 14, 2023 /EINPresswire.com/ —
Dry Bulk Shipping involves many processes like storage and modification which includes technical issues and pre-delivery inspections. Dry bulk shipping is primarily used for coal and iron, and due to rapid increase in consumption of electricity there is huge demand for importing and exporting coal.
Further, dry bulk shipping service includes storage and modification including technical issues or pre-delivery inspections.
Rapid urbanization, industrialization, economic growth is likely to propel the dry bulk shipping market across the globe. Moreover, development in supply chain, rise in sea transportation, technological development is expected to boost the dry bulk shipping market.
Dry Bulk Shipping Market is estimated to be US$ 476.53 million by 2030 with a CAGR of 4.8% during the forecast period
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Key Development:
• In early 2021, Castor Maritime Inc. acquired a Panamax dry bulk carrier in order to increase the size of its fleet. Due to the increased trading of commodities, this acquisition is expected to generate enormous profits.
Key players in Dry Bulk Shipping Market:
• Diana Shipping, Inc.
• Dry Ships, Inc.
• Genco Shipping & Trading Ltd.
• Baltic Trading
• Navios Maritime Holdings
• Star Bulk Carriers.
Market segmentation-
By Type- Time Charter and Voyage
By Application– Iron Ore, Coal, Grain, Steel Products, and Lumber or Log
Regional scope
North America-
• U.S.
• Canada
Europe-
• UK
• Germany
• Spain
• France
• Italy
• Russia
• Rest of Europe
Asia Pacific –
• Japan
• India
• China
• South Korea
• Australia
• Rest of Asia-Pacific
Latin America –
• Brazil, Mexico, Argentina
• Rest of Latin America
Middle East & Africa –
• South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Frequently Asks Questions about Dry bulk shipping market:
1. What is the current state of the dry bulk shipping market?
The dry bulk shipping market is highly cyclical and volatile. In recent years, the market has been characterized by overcapacity, resulting in low freight rates and poor earnings for ship owners.
2. What are the factors that affect the dry bulk shipping market?
The factors that affect the dry bulk shipping market include global economic growth, supply and demand of dry bulk commodities, changes in trade patterns, vessel supply and demand, fuel prices, and regulatory changes.
3. Who are the major players in the dry bulk shipping industry?
The major players in the dry bulk shipping industry include shipowners, charterers, and brokers. Some of the largest dry bulk shipping companies are Diana Shipping Inc., Scorpio Bulkers Inc., and Star Bulk Carriers Corp.
4. What are the challenges faced by the dry bulk shipping industry?
The challenges faced by the dry bulk shipping industry include volatile freight rates, overcapacity, rising fuel costs, and regulatory changes such as new environmental and safety regulations.
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