Analysts at Future Market Insights (FMI) have estimated that global minor bulk traded has expanded up to 1.74 billion tons. Bulk terminals play instrumental role in industrial infrastructure, wherein they ensure safe and efficient movement of critical resources. Despite current downturns in global seaborne trade due to COVID-19 pandemic, the global minor bulk trade has expanded considerably.
According to the FMI report, steel and forest products account for 43 percent of minor bulk trade. Furthermore, metals and minerals have captured around 37%, followed by agricultural products, which account for 20% of minor bulk trade.
Dynamic markets that drive raw material demand necessitate operators and owners supplementing the effectiveness and flexibility of their high-investment bulk assets. Advanced supply chains emphasise the long-term penetration of the digital ecosystem and the automation of manufacturing methods.
Agricultural yield is concentrated primarily in countries such as the United States, Argentina, Brazil, China, and India, which account for more than 34 percent of export and import of several grains as minor bulk commodities.
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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 additional 49 under construction
- Markets in Europe and North America to generate relevant value through 2030
“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 accents 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 analyst at FMI.
COVID-19 Impact on Bulk Terminals Market
Due to strict lockdown measures, the COVID-19 pandemic is causing massive supply chain disruptions in the bulk terminals market, particularly in Asian supplier regions. Such stringent measures have resulted in a labour shortage – truck drivers and labourers – at port terminals.
Furthermore, the market is suffering from a lack of transportation facilities such as. According to studies, the number of trucks and containers dropped by about half due to a decrease in the number of trailers and a lack of drivers. This has slowed transshipment operations at terminals even more.
Because of growing concerns about worker safety, several end-use industrial operators have temporarily halted manufacturing processes, reducing demand for bulk terminals. Upgrading automation capabilities will be critical for staying afloat during the COVID-19 crisis.
Bulk Terminals Market – Competitive Intelligence
Leading players in global bulk terminals market are focused on inorganic growth strategies such as mergers and acquisitions (M&A) as well as contracts in order to boost theor market presence. Case in point,
- Ultramar Group has entered into transshipment collaboration with Acron Group to transship over 1.2 million tons per year (tpy) of mineral fertilizers.
- Noatum Maritime has taken over multi-purpose bulk terminal business from Noatum Ports.
- Teck Resources and Westshore Terminals have entered into an agreement for new throughput contract for export of metallurgical coal beginning in April 2021. The contract will witness 5-7 million mt of metallurgical coal exported from April through December 2021.
To Know More About Bulk Terminals Market:
A new market research report published by Future Market Insights (FMI) on the global bulk terminals market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2020-2030. The report examines the bulk terminals market through two different segments – bulk type, and region. The bulk terminals market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of barcode printers and product adoption across several end-use industries.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 6-years.
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