Despite current downturns in global seaborne trade because of COVID-19 pandemic, the global minor bulk trade has expanded considerably. Analysts at Future Market Insights (FMI) have estimated that global minor bulk traded has expanded up to 1.74 billion tons.
Production of steel and forest products has made up for 43% of minor bulk trade, says FMI report. In addition, metals and minerals have captured around 37% followed by agricultural products, which represents 20% of minor bulk trade.
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Agricultural yield is majorly concentrated on countries such as the US, Argentina, Brazil, China, and India, which accounts for over ¾ of 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 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 proper functioning of maritime transport is quintessential in overall progress of countries taking part in global trade. Port operation accents for heavy investments in manpower and equipment. 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
The COVID-19 pandemic is triggering huge supply chain disruptions for bulk terminals market due to strict lockdown measures, especially in Asian supplier regions. Such stringent measures have led to dearth of workers – truck drivers and labors – at port terminals.
In addition, the market is suffering because of a shortage of transportation facilities such as. Studies reveal that trucks and containers dropped by about 50% due to decreasing number of trailers and unavailability of drivers. This has further slowed down transshipping operations at terminals.
Driven by rising concerns regarding worker safety, several end-use industrial operators have brought manufacturing processes to a temporary halt, hurting the demand for bulk terminals.
To stay afloat amid the COVID-19 crisis, up-gradation in automation capabilities will be critical for bulk terminal market players in immediate future.
Bulk Terminals Market Players – Investments and Partnerships to Become Key Priority of Manufacturers
The global bulk terminals market is fragmented with presence of several large- and medium-scale players in competition landscape. Majority of players are conspicuous investments and strategic agreements in order to capture value at stake. For instance,
- Regulatory board of APM Terminals has granted approval to its expansion project that incorporates enhancing infrastructure for managing larger vessels and increasing container capacity to 1.6 million twenty-foot equivalent units (TEUs).
- China Merchants Port Holdings Co. Ltd. (CMPort ) has collaborated with CMA CGM to acquire 10 port terminals to Terminal Link – joint venture of the two firms. Further, CMPort organized virtual agreement ceremony with Thessaloniki Port Authority S.A. (ThPA) in Greece, Shenzhen, and Hong Kong and inked two agreements on strategic collaboration and port information system.
- Host Davant – subdivision of T. Parker Host – has taken over United Bulk Terminals Davant facility of Marquard & Bahls.
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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 transshipment collaboration with Acron Group to transship over 1.2 million tons per year (tpy) of mineral fertilisers.
- United 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.
Global bulk terminals market segmentation
By Bulk Type
- Dry Bulk
- Grain
- Coal
- Iron Ore
- Others
- Liquid Bulk
- Oil
- Gas
By Region
- North America,
- Latin America,
- Western Europe,
- Eastern Europe,
- Asia Pacific excluding Japan (APEJ),
- Japan,
- Middle East & Africa (MEA),
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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.