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Global Dry Bulk Shipping Industry Report: 2011 Edition
Koncept Analytics, May 2011, Pages: 38
Economies of the various nations of the world, both developing and developed have grown manifold over the past few decades. One of the most important features of growth in world economies and globalization in recent years is the dry shipping market which constitutes the back bone of the international trade. Having shown a growth over the past several years with the exception of year 2009, the global seaborne dry bulk trade is expected to continue to grow at a CAGR of approximately 4.6% during the period spanning 2011 to 2013.
Iron ore constitutes the largest share in seaborne dry bulk trade, followed by coal, grain and other minor bulks. The global seaborne iron ore trade has shown constant growth in the past decade and the same is expected to continue in the years ahead due to expected growth in demand and production of steel in many major economies, mainly in China and Japan. Coal, used worldwide as a source of energy and steel production, is another important constituent of global seaborne dry bulk trade. The demand for coal, both thermal and coking coal, increased in 2010 in the light of growth in all major markets and the same is anticipated to continue to increase due to growing imports of thermal coal by China and rising demand for coking coal, particularly from Japan. The worldwide seaborne grain trade also increased in 2010 after registering a decline in 2009, on the back of economic recovery in the importing regions.
Of all the seaborne dry bulk trade, Asian nations are the largest consumers with China being the largest consumer of iron ore and Japan being the largest importer of thermal coal. The major exporters of dry bulk commodities are Australia, Brazil, South Africa, Indonesia, and North America. The total dry bulk fleet, which comprises our types of vessels: capesize, panamax, handymax, and handysize; is showing a steady growth on the back of increased new orders and reduced scrapping of dry bulk vessels.
The growing increase in industrial production in emerging and developing economies like China and South East Asian countries constitutes a major driving force and is expected to translate into continued increase in demand for dry bulk commodities in the following years. Another major factor of growth of seaborne dry bulk trade is rising steel production and growing demand for energy, necessitating increased trade of iron ore and coal. Rising world population and economic recovery in the importing regions will drive the demand and trade of grains, thus contributing in the overall growth of global seaborne dry bulk trade.
The global dry bulk shipping market is intensely competitive and fragmented with no single owner accounting for clear majority share. However, due to low entry barriers in the market, there stands a risk of increased competition by new entrants. The companies operating in the industry compete mainly on the basis of vessel capacity, fleet size, and price, among other such factors.
The report provides an analysis of the global seaborne dry bulk industry with a focus on major commodities like iron ore, coal and grain. It assesses the factors that are influencing the demand and supply of dry bulk vessels. It also presents a competitive landscape of the dry bulk shipping industry with a focus on leading carriers and their respective business strategies.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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