A yacht is a maritime vessel that is only utilised for leisure or pleasure reasons, such as cruising, entertainment, water sports, fishing, or year-round lodgings. Yachts are normally large enough to accommodate sleeping rooms, a kitchen and a restroom on board for overnight voyages. They are also huge enough to require more than human effort (such as rowi ..
The global container shipping market is predicted to reach US$10.93 billion in 2025, progressing at a CAGR of 8.49% over the period 2021-2025. The factors such as growing population, accelerating economic growth, rising demand for shipping containers, increasing steel production and rapid urbanization would drive the growth of the market. However, the market growth would be challenged by mounti ..
The global crude tanker fleet size is anticipated to reach 423 million dead weight tonnes (DWT) in 2020, as compared to 389 million dead weight tonnes (DWT) in 2018. The growth in the crude tanker market has been driven by fluctuating crude oil prices, rising oil demand and increasing urban population. The market faced challenges like fluctuating crude oil production and the US shale revolution ..
The global shipbuilding new orders reached 42.74 million GT in 2019. The factors such as increasing sea-borne trade, accelerating economic growth, growing energy consumption and rising demand of eco-friendly ships are expected to drive the market. However, growth of the industry would be challenged by the environmental regulations, risk of cyber breaches and trade wars. A few notable ..
The global dry bulk shipping market is anticipated to grow at a CAGR of 4.14% during the period spanning 2019-2023. The market is expected to be valued at US$402.65 billion in 2023. The growth of the market has been driven ..
The shipbuilding industry is responsible for the design and construction of oceangoing vessels all around the world. Most of the global ship production today is concentrated in Asian countries such as China, Japan and South Kor ..
The global dry bulk shipping industry is an essential part of the international shipping industry, with ocean-going vessels representing the most efficient, and often the only method of transporting lar ..