DUBLIN--(BUSINESS WIRE)--The "Global Shipbroking Market: Size and Trends with Impact Analysis of COVID-19 (2020 Edition)" report has been added to ResearchAndMarkets.com's offering. Laura Wood, Senior Press Manager If supply and demand are in harmony, much good will inevitably follow. Register now to get ahead of the trends. Perhaps the biggest challenge of all, however, is the need to maintain and increase technical innovation in ship and engine design, and to harness the required technology through the likes of Big Data and Artificial Intelligence – and then not to forget to plan for the seafarer of the future. The different categories of shipbrokers are sales & purchase brokers, bulkers brokers, tanker brokers and container brokers. Shipping is characterized as the physical procedure of transferring a thing, commodities, merchandise goods and cargo from one place to another. At the end of 2019, confidence in the industry was as high as it has been at any time in the past six years. Now, on the cusp of a new decade, whilst there is nothing comparable in prospect, there are nevertheless a number of very important fundamental changes in the offing, and moreover a number of reasons to be optimistic about the fortunes of the industry over the coming decade. For more info go to our Cookie Policy, Covid vaccine won’t be an ‘instant stimulus’ to the U.S. economy, warns economist, Shipping alliances help container industry boost freight rates in coronavirus pandemic, Little Tonnage Sold for Demolition as Pandemic Rages, Iron ore prices hurtle to a seven-year high, coking coal prices lag on quotas, Moody’s: Shipping Outlook turns stable on EBITDA growth, improving supply-demand balance, Guide for Carriage of Hazardous Materials, Subscribing I accept the privacy rules of this site, IMO’s global action to protect marine biodiversity, INTERCARGO.org: Crew Change – time is running out, The Panama Maritime Authority & COVID19 Measures, Here are 4 Signs the World is Embracing Natural Gas, Annual Report 2019 – A message from Remi Eriksen, Top 5 questions on maritime contracts and COVID 19. in International Shipping News Last year marked the 150th anniversary of the opening of the Suez Canal, which in many ways helped to revolutionise the conduct of global shipping markets. For U.S./CAN Toll Free Call 1-800-526-8630 Each has the potential to impact shipping in a positive and/or negative way. 1,216 Less than a minute. Shipowners own the ship and provide for commercial use for their own profit. Can the stalemate over Cyprus be overcome? Over decades, most markets historically rise as often as they fall. Elsewhere, operating costs are forecast to go up, while geopolitics and trade wars and sanctions will continue to exert their customary influence. There are a number of presidential and parliamentary elections scheduled for 2020, including those in the United States, Egypt, Greece, Hong Kong, New Zealand, Poland, Singapore and  Venezuela. For GMT Office Hours Call +353-1-416-8900, "Global Shipbroking Market: Size and Trends with Impact Analysis of COVID-19 (2020 Edition)", https://www.researchandmarkets.com/r/f2jz36, Rise in Global Trade & Industrial Production, Liquefied Natural Gas (LNG) As Fuel Alternative. Shipbroking suggests a movement of ships/cargo which is an integral part of the global shipping industry. LIBOR will not be replaced until the end of 2021, but the time to prepare is now. The first full financial reporting season with the new lease accounting standards in force will no doubt see bigger balance sheets for some in the industry. Shipping nevertheless faces some serious challenges in the immediate future, not least the need to comply with new regulations. Perhaps the biggest challenge of all, however, is the need to maintain and increase technical innovation in ship and engine design, and to harness the required technology through the likes of Big Data and Artificial Intelligence – and then not to forget to plan for the seafarer of the future. For more information about this report visit https://www.researchandmarkets.com/r/f2jz36, ResearchAndMarkets.com COVID-19 has led to reduced demand for goods from China. Environmental Social Governance (ESG) will assume increasing importance. IMO 2020 scrubber retrofits in drydock will continue to keep tonnage off the water, although shipments of low-sulphur fuel will boost the product tanker trades. The recovery in the shipping sectors like dry bulk and containers would be entirely dependent on a recovery in global economic activity, post abatement of the COVID-19 outbreak, starting from China. Photo courtesy of Jim Allen/FreightWaves. Ocean shipping begins the year with unusually high optimism in the crude-tanker sector and very strong sentiment in the product-tanker and liquefied petroleum gas (LPG) segments. However, as to when the COVID-19 impact would subside is difficult to predict as the crisis is still in an evolving stage. Shipping nevertheless faces some serious challenges in the immediate future, not least the need to comply with new regulations. As 2019 winds down, profitability remains a moving target for container shipping lines, and unpredictable trade flows out of Asia and poor supply-demand fundamentals are clouding the container shipping outlook. The shipping industry faces some very significant challenges over the coming years, but has a number of reasons to be cheerful as it enters a new decade, according to BDO. Charterers, a person or the company who hires the ship/vessel for use to transport cargo. The shipping industry faces some very significant challenges over the coming years, but has a number of reasons to be cheerful as it enters a new decade, according to BDO. The Financial Mirror weekly newspaper was established in 1993 and is the primary source of news and analysis about the Cyprus economy. The speedy spread of COVID-19 has had a major impact on global shipping markets. press@researchandmarkets.com Over decades, most markets historically rise as often as they fall. Other issues facing the shipping industry at the dawn of a new decade include exchange rate volatility, and the question of whether US interest rates will continue to fall. If supply and demand are in harmony, much good will inevitably follow. Outlook 2020: Will the global economy bounce back to life? US-Cyprus: Working together for Cybersecurity, Silver could outperform gold in massive metals rally, Avengers: The age of ultra-famous Cypriot academics. Each has the potential to impact shipping in a positive and/or negative way. The different types of shipbrokers are sales & purchase brokers, dry cargo brokers, tanker brokers and container brokers. Copyright ©2019 Financial Mirror. With IMO 2020 in effect, the fuel price differential becomes a significant factor from day one of the new decade, and it will be instructive to see whether freight rates will cover the increased costs thus incurred. The first full financial reporting season with the new lease accounting standards in force will no doubt see bigger balance sheets for some in the industry. This report provides an analysis of the global shipbroking market with detailed qualitative analysis of the impact of COVID-19 on different segments within shipbroking. Last year marked the 150th anniversary of the opening of the Suez Canal, which in many ways helped to revolutionise the conduct of global shipping markets. If it can meet the financial, technological and regulatory challenges which it faces, it will continue to be attractive to existing and new investors alike. Shipping has weathered the past decade better than many predicted, and so enters the new one all the stronger for that. Shipping has weathered the past decade better than many predicted, and so enters the new one all the stronger for that. The major components involved in shipping are Shipowners, Charterers and Shipbrokers. We now know that Brexit really does mean Brexit, but what does Brexit itself really mean? 07/01/2020. Financialmirror.com is the leading English-language business news site in Cyprus, reporting on business, the economy, energy and shipping. Environmental Social Governance (ESG) will assume increasing importance. There are different types of chartering named as Voyage Charter, Time Charter, Bareboat Charter and Demise Charter. By continuing to use this site, you agree to our use of cookies. Elsewhere, operating costs are forecast to go up, while geopolitics and trade wars and sanctions will continue to exert their customary influence. All Rights Reserved, By Sandra Nebritova This month, the Securities and Exchange Commission. With IMO 2020 in effect, the fuel price differential becomes a significant factor from day one of the new decade, and it will be instructive to see whether freight rates will cover the increased costs thus incurred. New fuel solutions will doubtless continue to be trialled, while it will become clearer whether the Poseidon Principles can be the new global framework for responsible ship finance. The Shipping Outlook: 2020 and beyond Shipping faces another year of uncertainty in 2020, underpinned by political, technological and regulatory disruption. There are a number of presidential and parliamentary elections scheduled for 2020, including those in the United States, Egypt, Greece, Hong Kong, New Zealand, Poland, Singapore and Venezuela. Outlook 2020: Top questions for ocean shipping. This, in turn, is having a cascading effect on shipping markets be it container ships or oil tankers. A Look into the 2020 Shipping Industry. For E.S.T Office Hours Call 1-917-300-0470 Despite a general slowdown in global GDP, demand for the industry’s services remains strong, while a contraction in the number of newbuildings on order and a steady stream of recycling has brought supply under stricter control. The report also includes an assessment of the market in terms of value and segment. Emily Ricks Thursday, November 7, 2019. IMO 2020 scrubber retrofits in drydock will continue to keep tonnage off the water, although shipments of low-sulphur fuel will boost the product tanker trades. Richard Greiner is Partner, Shipping & Transport at accountancy and business advisory firm BDO, https://www.bdo.co.uk/en-gb/industries/shipping-and-transport, Cyprus announced on Wednesday it would introduce local lockdowns in, Cyprus announced four more deaths of coronavirus patients, for a, Greek Prime Minister Kyriakos Mitsotakis has hailed the importance of, UK Foreign Secretary Dominic Raab has assured President Nicos Anastasiades. Over the last decade, the global shipbroking market was supported by various growth drivers, such as, increasing global seaborne trade, falling oil prices, accelerating economic growth, rising global energy consumption, etc.