The Latest Shipping Industry Statistics Explained
The size of the global shipbuilding industry was estimated at $159.2 billion U.S. dollars in 2020.
This statistic indicates that the global shipbuilding industry’s total economic value or output in 2020 was estimated to be $159.2 billion U.S. dollars. This figure encompasses the total value of all ships constructed worldwide during the year, including commercial vessels, cruise ships, military vessels, and others. The size of the shipbuilding industry is a key indicator of economic activity within the maritime sector and reflects the demand for new ships across various industries. This statistic emphasizes the industry’s significant contribution to the global economy, highlighting its scale and importance in terms of both production and revenue generation.
Asia produces over 90% of the global shipbuilding capacity by gross tonnage.
The statistic that “Asia produces over 90% of the global shipbuilding capacity by gross tonnage” indicates that the majority of the world’s shipbuilding activities, in terms of both quantity and size of vessels produced, take place in Asian countries. This dominance of Asia in the shipbuilding industry is driven by several factors including lower labor costs, availability of skilled workforce, advanced technology and infrastructure, government support, and strong demand for ships in the region. The concentration of shipbuilding capacity in Asia has significant implications for global trade and maritime transportation, as well as for the economies of the countries involved in the industry.
The container shipping market’s freight rates soared by over 300% during 2020 and 2021.
The statistic indicates a significant and rapid increase in the freight rates within the container shipping market over the course of 2020 and 2021. A surge of over 300% in freight rates demonstrates a substantial inflation in the costs associated with shipping goods via containers during the stated period, likely due to a combination of factors such as increased demand for shipping services, disruptions in global supply chains, and capacity constraints. Such a sharp rise in freight rates within a relatively short timeframe may have implications for businesses relying on container shipping, potentially leading to higher costs for transporting goods and impacting profit margins.
Panamax and New Panamax ships, which are too large to pass through the Panama Canal, account for about 32% of the global fleet.
The statistic indicates that Panamax and New Panamax ships, which are too large to pass through the Panama Canal, collectively make up approximately 32% of the entire global fleet of ships. This suggests that a significant portion of the world’s maritime transport capacity is comprised of vessels that are not able to navigate through the Panama Canal due to their size. This has implications for global shipping routes and logistics, as these large ships may have to take alternative routes or utilize different transportation methods to reach their destinations. The dominance of Panamax and New Panamax ships in the global fleet underscores the importance of understanding their impact on the efficiency and cost-effectiveness of shipping operations worldwide.
As of January 2021, the largest container ship globally had a capacity of 24,000 twenty-foot equivalent units (TEU).
The statistic indicates that as of January 2021, the largest container ship in the world had the capability to carry a total of 24,000 twenty-foot equivalent units (TEU) of cargo. This figure represents the maximum carrying capacity of the ship in terms of the standard unit of measurement used in the shipping industry. The size and capacity of container ships have continued to increase over the years due to advancements in technology and economies of scale, allowing for more efficient transportation of goods across the globe. The 24,000 TEU capacity of the largest container ship highlights the scale and magnitude of modern maritime transport operations, reflecting the ongoing trend towards larger and more efficient vessels in the industry.
The global maritime shipping industry is responsible for over 2% of the world’s CO2 emissions.
This statistic indicates that the global maritime shipping industry contributes significantly to carbon dioxide (CO2) emissions on a global scale, accounting for more than 2% of the total emissions worldwide. This highlights the substantial environmental impact of shipping activities, which rely heavily on the burning of fossil fuels for propulsion, resulting in the release of greenhouse gases into the atmosphere. The statistic underscores the importance of addressing and mitigating emissions from maritime shipping to reduce its contribution to climate change and work towards sustainability in the industry. Efforts to improve fuel efficiency, transition to cleaner energy sources, and implement stricter regulations can help reduce the environmental footprint of the maritime shipping sector and mitigate its impact on global CO2 emissions.
As of 2022, approximately 64% of the global container ship fleet is chartered, not owned by the operators.
This statistic indicates that by the year 2022, around 64% of the total container ship fleet worldwide is under charter arrangements rather than being owned outright by the operators. This implies that a significant portion of the global shipping industry relies on leased vessels rather than assets owned by the companies themselves. Chartering ships offers flexibility to shipping operators, allowing them to adjust their fleet size based on market conditions without committing to the long-term costs associated with owning vessels. This statistic highlights the prevalent practice of chartering within the maritime sector, showcasing the importance of these arrangements in meeting the dynamic demands of global shipping and trade.
The total value of seaborne trade is estimated at around 14 trillion USD.
The statistic that the total value of seaborne trade is estimated at around 14 trillion USD refers to the sum of all goods and commodities transported by sea between countries for trade purposes. Seaborne trade plays a crucial role in the global economy, representing a significant portion of international trade. This statistic underscores the immense volume and value of goods transported by sea, highlighting the importance of maritime transportation in facilitating global commerce and economic growth. The figure of 14 trillion USD reflects the substantial economic activity generated by the shipping industry and its role in connecting markets and enabling the exchange of goods on a global scale.
As of 2020, the global cruise ship orderbook was worth around $57.8 billion.
The statistic indicates that as of 2020, the global cruise ship industry had a total orderbook value of approximately $57.8 billion, representing the total value of orders placed for the construction of new cruise ships. This figure reflects the significant investments being made by cruise ship companies to expand their fleets and meet the growing demand for cruising worldwide. The large orderbook value suggests optimism and confidence in the future of the industry, despite temporary setbacks such as the impact of the COVID-19 pandemic. It also highlights the competitive nature of the market as companies strive to attract passengers with innovative features and amenities on new ships.
Artificial intelligence is expected to add USD 29 billion of value to the marine shipping industry by 2030.
This statistic suggests that artificial intelligence (AI) is projected to generate approximately USD 29 billion worth of benefits for the marine shipping industry by the year 2030. The implementation of AI technologies in this sector is expected to lead to improvements in various aspects such as operational efficiency, cost savings, risk management, and customer service. By leveraging AI tools for tasks like route optimization, predictive maintenance, and cargo management, marine shipping companies can streamline their operations, enhance decision-making processes, and ultimately enhance their competitive advantage in the industry. The estimated value of USD 29 billion signifies the significant potential impact that AI can have on the marine shipping sector over the next decade.
References
0. – https://www.www.globaltrademag.com
1. – https://www.www.statista.com
2. – https://www.www.wto.org
3. – https://www.www.imf.org
4. – https://www.www.maritime-executive.com
5. – https://www.financesonline.com
