China Stevedoring & Marine Cargo Handling Industry Overview
|CAGR:||> 3.5 %|
*Disclaimer: Major Players sorted in no particular order
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China Stevedoring & Marine Cargo Handling Market Analysis
The size of China Stevedoring & Marine Cargo market is USD 12.8 billion in the current year and is anticipated to register a CAGR of over 3.5% during the forecast period.
- The dominance of the Chinese economy has been largely fueled by their focus on export trade. China is making the best of its maritime shipping networks which have been key to its export-oriented economic development. To this end, China has invested in some of the largest and busiest, and most well-connected ports on the planet. Before the pandemic, the ports in China handled a net worth of 242 million TEUs of cargo. This number is four times greater than the container throughput of the USA. For more than 10 years, the Port of Shanghai has been ranked as the busiest container port in the world. Additionally, several other Chinese ports in Ningbo Zhoushan, Qingdao, Tianjin, Hong Kong, and Guangzhou, also make it to the list of the top 10 busiest container ports in the world.
- Throughput at Ningbo-Zhoushan Port increased by 52.4% annually to 2.35 million twenty-foot equivalent units in February, setting a record high. There are a total of 262 container shipping routes. In 2021, Shanghai Port has already committed to achieve a container throughput volume of 44 million TEUs in order to keep its title as the largest container port in the world by capacity. Thus growth in maritime trade has driven the china stevedoring and marine cargo handling market. In June 2022, Vostochnaya Stevedoring Company has commenced handling new regular container services offering direct connections to the Chinese ports of Tianjin and Taicang. The services are operated by SWIFT LINE, a marine line of SWIFT Transport Group.
- China's trade-oriented economy depends heavily on sea freight transit, which has also contributed significantly to the growth of the nation. The main growth factors for the Chinese maritime freight transportation sector are as follows: Due to its high level of overall competitiveness, China is displacing other Asian nations in terms of market share through organic growth. The fundamental engine driving the sector is China's phenomenal rate of economic growth.
- Due to the covid-19 epidemic in 2020, manufacturing has halted, trade volumes in numerous countries have fallen, and the shipping market's expansion has been significantly affected. The internal pandemic was successfully controlled in a relatively short period of time, the economy gradually recovered, industrial production quickly recovered, domestic products were supplied to the international market, and demand for export trade increased.
China Stevedoring & Marine Cargo Handling Industry Segments
Stevedoring refers to the act of loading or offloading cargo to and/or from a ship. A person or company engaged in such act is known as a stevedore. The stevedores have to be able to handle dock equipment, such as cranes and forklifts, safely and efficiently, and they need to be aware of emerging safety issues, including hazardous materials on board the ship and around the docks.
The China Stevedoring and Marine Cargo Handling Market is segmented by Type (Stevedoring, Cargo and handling transportation, others), By Cargo Type (Bulk Cargo, Containerized Cargo, Other Cargo). The report offers China Stevedoring and Marine Cargo Handling Market size and forecast values (USD billion) for all the above segments.
|Cargo and handling transportation|
China Stevedoring & Marine Cargo Handling Market Trends
China’s increasing investments in the ocean freight shipping industry
The Chinese economy's dominance has been largely powered by its emphasis on export trade. China is maximizing the use of its maritime shipping networks, which have been essential to the country's export-focused economic growth. China has made investments in some of the world's busiest, biggest, and best-connected ports to achieve this goal. China's ports handled a net worth of 242 million TEUs of goods prior to the pandemic. This figure exceeds the USA's container throughput by four times. The Port of Shanghai has held the title of busiest container port in the world for more than ten years. Ningbo Zhoushan, Qingdao, Tianjin, Hong Kong, and Guangzhou are among the other Chinese ports that rank among the top ten busiest container ports in the world.
In addition to improving its own port infrastructure, China controls more than 100 ports in 63 different nations. Furthermore, China is well-suited for building massive ports thanks to its 14,500 kilometres of coastline and coastal cities. China's government made over $153 billion in investments between 2012 and 2019 to build and improve its maritime shipping infrastructure. The expansion of Chinese exports and these investments led to a sharp increase in port activity. The total volume of cargo processed at the six largest Chinese ports increased from 613.3 million MT to 3.5 billion
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Advancements and adoption of workflow automation
It is estimated that the market will benefit greatly from the developments in the sector of cargo handling. Because workflow automation is being used more frequently, there has been an increase in the need for cargo services, which has led to numerous attractive growth prospects for the industry over the anticipated term. A mismatch between digital and physical information results from the incapacity of current solutions to digitalize the physical process, which prevents operational efficiency from being realized. To offer potential prospects for the market's expansion, the manufacturers are actively concentrating on digitalizing solutions.
Breakbulk Optimiser uses cargo booking data and vessel route information to enhance planning capabilities, and enable fact-based decisions to be made that increase operational efficiency and business performance. The cloud-based service optimises asset utilisation by unifying information and creating a more disciplined way to plan cargo carriage. Variability in the cargo planning process is eliminated by the digital algorithm, resulting in a consistent approach being taken. It also enables a better ability to react to last minute changes and no-shows because the software optimises the stowage plan.
China Stevedoring & Marine Cargo Handling Market Competitor Analysis
ASEAN Seas Line Co., Limited, China (Shenzhen) International Logistics and Supply Chain Fair (CILF), China Merchants Jinling Shipyard (Weihai) Co., Ltd, China Ocean Shipping Company, China Shipbuilding Trading Co., Ltd. (CSTC), CSSC Huangpu Wenchong Shipbuilding Co., Ltd. (HPWS), Guangzhou Shipyard International (GSI) , Qingdao Port International Limited, Shenzhen Yihaitong Global Supply Chain Management Co., Ltd, Taizhou Sanfu Ship Engineering Co., Ltd are market participants for China Stevedoring and Marine Cargo Handling. The competition amongst service providers is further heightened by the strict regulatory requirements that must be met. Businesses participate in M&A transactions to develop their product lines and expand regionally.
China is one of the major participants in global marine trade. Several factors like enhanced maritime connectivity, government prioritization, development of port infrastructure, etc. have generated fantastic economic benefits for the country driving the Stevedoring and Marine Cargo Handling market in china.
China Stevedoring & Marine Cargo Handling Market Top Players
ASEAN Seas Line Co., Limited
China (Shenzhen) International Logistics and Supply Chain Fair (CILF)
China Ocean Shipping Company
China Shipbuilding Trading Co., Ltd. (CSTC)
Guangzhou Shipyard International (GSI)
*Disclaimer: Major Players sorted in no particular order
China Stevedoring & Marine Cargo Handling Market Recent Developments
- July 2022: China’s first indigenously developed offshore oil and gas extraction facility, subsea “Xmas Tree” system, was put into operation in the Yingge Sea, south China’s Hainan Province. The system is able to produce about 200 million cubic meters of natural gas per year, according to China National Offshore Oil Corporation (CNOOC).
- May 2022: The world’s first LNG dual-fuel ultra-large crude oil tanker, YUAN RUI YANG, finished the unloading of cargo in Vietnam and successfully completed its maiden voyage, marking the success of COSCO SHIPPING Energy in promoting the application of LNG as the main fuel of ultra-large crude oil tankers. This new development made China to explore green, low-carbon and sustainable maritime energy transportation.
China Stevedoring & Marine Cargo Handling Market Report - Table of Contents
1.1 Market Definition and Scope
1.2 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Current Market Scenario
4.2 Market Dynamics
4.3 Value Chain/Supply Chain Analysis
4.4 Technological Advancements
4.5 Government Regulations and Key Initiatives
4.6 Insights into Transshipment Trade
4.7 Insights into Containerized and Non-containerized Shipments
4.8 Freight Rates and Maritime Transport Costs
4.9 Demand-Supply Analysis
4.10 Impact of COVID-19 on the Market
4.11 Industry Attractiveness - Porter's Five Forces Analysis
4.11.1 Bargaining Power of Suppliers
4.11.2 Bargaining Power of Consumers/ Buyers
4.11.3 Threat of New Entrants
4.11.4 Threat of Substitute Products
4.11.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.2 Cargo and handling transportation
5.2 Cargo Type
5.2.1 Bulk Cargo
5.2.2 Containerized Cargo
5.2.3 Other Cargo
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 ASEAN Seas Line Co., Limited
6.2.2 China (Shenzhen) International Logistics and Supply Chain Fair (CILF)
6.2.3 China Merchants Jinling Shipyard (Weihai) Co., Ltd
6.2.4 China Ocean Shipping Company
6.2.5 China Shipbuilding Trading Co., Ltd. (CSTC)
6.2.6 CSSC Huangpu Wenchong Shipbuilding Co., Ltd. (HPWS)
6.2.7 Guangzhou Shipyard International (GSI)
6.2.8 Shenzhen Yihaitong Global Supply Chain Management Co., Ltd
6.2.9 Taizhou Sanfu Ship Engineering Co., Ltd
6.2.10 Qingdao Port International Limited*
7. FUTURE OF CHINA STEVEDORING AND MARINE CARGO HANDLING MARKET
China Stevedoring & Marine Cargo Handling Market Research FAQs
What is the study period of this market?
The China Stevedoring and Marine Cargo Handling Market is studied from 2019 - 2028.
What is the growth rate of China Stevedoring and Marine Cargo Handling Market?
The China Stevedoring and Marine Cargo Handling Market is growing at a CAGR of >3.5% over the next 5 years.
Who are the key players in China Stevedoring and Marine Cargo Handling Market?
ASEAN Seas Line Co., Limited, China (Shenzhen) International Logistics and Supply Chain Fair (CILF), China Ocean Shipping Company, China Shipbuilding Trading Co., Ltd. (CSTC), Guangzhou Shipyard International (GSI) are the major companies operating in China Stevedoring and Marine Cargo Handling Market.
China Stevedoring and Marine Cargo Handling Industry Reports
In-depth industry statistics and market share insights of the China Stevedoring and Marine Cargo Handling Market sector for 2020, 2021, and 2022. The China Stevedoring and Marine Cargo Handling Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the China Stevedoring and Marine Cargo Handling Market report PDF.