Future Market Insights has launched its latest ‘Bulk Terminal Market’ report. The following represents some of the report’s key findings.
Despite current downturns in global seaborne trade due to the COVID-19 pandemic, the global minor bulk trade has expanded considerably. A study by Future Market Insights (FMI) has estimated that the global minor bulk trade has expanded up to 1.74 billion t.
Production of steel and forest products has accounted for 43% of minor bulk trading, says FMI’s report. In addition, metals and minerals have captured around 37%, followed by agricultural products, which represents 20% of minor bulk trading.
Agricultural yield is predominantly concentrated on countries such as the US, Argentina, Brazil, China, and India, which accounts for over three quarters of the export and import of several grains as minor bulk commodities.
Bulk terminals market size study
- Sales of bulk terminals to remain stable over forecast period, 2020 - 2030.
- Dry bulk continues to generate greater total returns to shareholders (TRS).
- Nearly 190 terminals were under expansion worldwide in June 2019, with an additional 49 under construction.
- Markets in Europe and North America to generate relevant value through 2030.
“The majority of global trades are performed through coastal routes, as such, proper functioning of maritime transport is quintessential in overall progress of countries participating in global trade. Port operation accounts for heavy investments in manpower and equipment. Consequently, various countries are embracing public-private partnership (PPP), wherein operations and management duties are outsourced to private firms, while respective governments own certain land and assets,” says an FMI analyst.
The impact of COVID-19 on the bulk terminals market
The COVID-19 pandemic is triggering huge supply chain disruptions for the bulk terminals market due to strict lockdown measures, especially in Asian supplier regions. Such stringent measures have led to a dearth of workers – truck drivers and labourers – at port terminals.
In addition, the market is suffering due to a shortage of transportation facilities. Studies have revealed that the quantity of truck and container shipments has dropped by approximately 50%, due to a decreased number of trailers and increased unavailability of drivers. This has further slowed down transhipping operations at terminals.
Driven by rising concerns regarding worker safety, several end-use industrial operators have brought their manufacturing processes to a temporary halt, thereby hurting demand for bulk terminals.
In an effort to stay afloat amid the COVID-19 crisis, upgrading automation capabilities will be critical for bulk terminal market players in immediate future.
Bulk terminals market – competitive intelligence
Leading players in the global bulk terminals market are focused on inorganic growth strategies, such as mergers and acquisitions (M&As), as well as contracts in order to boost their market presence. Case in point:
- Ultramar Group has entered into a transhipment collaboration with Acron Group to tranship over 1.2 million tpy of mineral fertilizers.
- Noatum Maritime has taken over a multi-purpose bulk terminal business from Noatum Ports.
- Teck Resources and Westshore Terminals have entered into an agreement for a new throughput contract for export of metallurgical coal beginning in April 2021. The contract will witness 5 - 7 million t of metallurgical coal exported from April through December 2021.
Read the article online at: https://www.drybulkmagazine.com/dry-bulk/03092020/future-market-insights-launches-latest-bulk-terminal-market-report/