Greece Dry Bulk Shipping Market: Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Type, Application, and Region

Greece Dry Bulk Shipping Market Overview:

The Greece Dry Bulk Shipping Market analyzes and forecasts the market size, in terms of value, for the market. Further, the Greece Dry Bulk Shipping Market is segmented by Type, Application, and Region. Based on Type, the Greece Dry Bulk Shipping market is segmented under Supramax, Capesize, Panamax, and Handymsize. Based on the Application, the market is segmented under Phosphate rock, iron ore, coal, grains, and Bauxite/Alumina. For each segment, the market sizing and forecasts have been done based on value (in USD Million).

Greece Dry Bulk Shipping Market Dynamics:

The growing urbanization, industrialization, and economic growth are the main reason for the growth of Greece's dry bulk shipping market. As the economy was expected to grow by 6.7% in2023 and just under 5% in 2023 i.e., around USD 245.00 Bn. Dry bulk shipping is the process of carrying the major commodities in bulk, such as coal, steel plates, iron ore, etc. Greece has the dry bulk shipping of iron and steel (3.03%), Aluminium and articles (4.38%), electronic pieces of equipment (3.75%), plastic articles (3.32%), with car and motorcycle parts (2.72%). As there is an increase in construction projects that are done in industrial, residential, and non-residential by 16.2% in 2023, creating a demand for steel and iron that led to the import of US$1.78 billion in 2023. These led to a drastic change in the Dry Bulk Shipping Market share. Transportation by sea is considered to be the cheapest means of transportation. The increase in sea transport also created a growth hike in the dry bulk shipping market.

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The rapid urbanization in Greece has increased the growth opportunities for the Greece dry bulk shipping market. The increase in infrastructural construction has led to the growth in demand for steel. According to KPMG in Greece, approximately 90% of the world commodities’ trade (in terms of capacity) is seaborne. Greece ranks 1st globally in ownership of merchandise vessels, presenting a 28% increase in owned capacity in the last five years. The government has also paved the way for the growth of Greece’s dry bulk shipping market. As the manufacturers can ship their goods in the cheap way of transport.

The problem associated with the Greece dry bulk shipping is that the products must be kept dry. If any moisture affects the product, then the whole product gets wasted, which can bring a great loss for the manufacturers during shipping. Thus, the products need to be packed properly with extra care by the manufacturers to prevent the products from moisture. Also, the dry bulk cargo should be handled carefully after it gets dispatched. As the dry bulk cargo is expected to change its nature at the time of boarding. So, the Greece dry bulk cargo products should be handled with caution after receiving the load.

The intense changes occurring in climate and the greenhouse effect because of the emission of anthropogenic gas (GHG) have led to the creation of international treaties and regulations for ensuring the safety and sustainability of the marine environment in the Greece dry bulk shipping industry. The International Maritime Organization (IMO), 2008 has developed a vision and actions on greenhouse gas emissions internationally, aiming to reduce 50% and 70% of carbon emission by 2050. Also, actions have been taken the reduction of greenhouse gases and disasters caused by maritime transport. The framework of "Green Shipping" includes 7 milestones that have been recognized, which are associated with the regulatory principles of energy-efficient operational ways such as the development of alternative fuels, use of efficient technology, transparency and accuracy of data, "sustainable investment," carbon pricing policy and sustainability in each shipping business plan. These are factors creating challenges for the Greece Dry Bulk Shipping Market during the forecast period.

Greece Dry Bulk Shipping Market Segment Analysis:

By Type, the Capsize segment is has dominated the market share by holding the maximum market shares accounting for 34.8% in 2023. As the capsize segment is large it can hold large quantities of goods. The increase in daily freight rates of the Capsize ships is driving the market growth. It is mostly used for the transportation of iron in Greece. For instance, Greece has imported approx. US$1.78 billion in 2023.

By Application, the iron ore segment is dominating the market by holding the maximum market share accounting for 29.1%, and is expected to grow with a CAGR of 4.2% during the forecast period. The iron ore is largely imported from different countries by Greece. The total iron ore imported by Greece is approx. US$1.78 Billion in 2023. As a result, the high demand will drive the Greece Dry Bulk Shipping Market during the forecast period.

Greece Dry Bulk Shipping Market Key Players Insights:

The market is characterized by the existence of several well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the market, key players in the market, particularly in the Greece are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

The objective of the report is to present a comprehensive analysis of the Greece Dry Bulk Shipping market to the stakeholders in the industry. The report provides trends that are most dominant in the Greece Dry Bulk Shipping market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Greece Dry Bulk Shipping Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

The qualitative and quantitative data provided in the Greece Dry Bulk Shipping market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key industry players and their recent developments in the Greece Dry Bulk Shipping market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Greece Dry Bulk Shipping market.

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Greece Dry Bulk Shipping market. The report also analyses if the Greece Dry Bulk Shipping market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, and if the market is dominated by a few players, etc.

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Greece Dry Bulk Shipping market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Greece Dry Bulk Shipping market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Greece Dry Bulk Shipping market is aided by legal factors.

Greece Dry Bulk Shipping Market Scope:

Greece Dry Bulk Shipping MARKET KEY PLAYERS: 

• Bulk- COSCO shipping (Xicheng District, Beijing)
• star bulk careers (Greece)
• Bulk CareerChartering (Melbourne)
• Eagle Ships (Stamford, CT, United States)
• Nordic Bulk Carriers A/S (Hellerup, DK)