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Navigating the Waves: Global Trends in Bulk Shipping Across Key Industries
January 30, 2024
In our global marketplace, with focus on export for GDP growth top of mind for all governments – alongside climate impact and sustainability targets – the trend towards bulk shipping, both liquid and dry, is making waves across diverse sectors.
Is bulk shipping growing?
Bulk transportation vessels are in demand, with vessels such as Intermediate Bulk Containers (IBCs), is set to grow with a CAGR of 3% between 2023 and 203. This will be worth 1.1 trillion by 2031accoring to Transparency Market Research. This growth is linked to key trends in the shipping of liquids and dry goods.
What are the key trends in the bulk shipping industry?
Here are 5 key trends we see impacting the bulk shipping market over the next 5 years.
- Automation and Digitalisation – enhancing traceability and efficiency.
From smart containers to predictive analytics for route optimisation, technology is streamlining operations and supply chain, and enhancing efficiency. This trend is especially crucial for the pharmaceutical sector, where precise temperature control and real-time monitoring are paramount during transportation. Sinay Maritime Data Solutions say companies using new technologies, tracing shipments in real-time is an asset for five main reasons:
- Enhanced security
- Management of risks
- Cost reductions
- Time saving
- Maximising ROI
- Sustainable Shipping Practices – reducing carbon footprints
As environmental concerns take centre stage, sustainable shipping practices are becoming imperative. The food and beverage industry, in particular, is aligning with eco-friendly shipping solutions to reduce carbon footprints. The Economist Impact reported in April 2023 on The International Maritime Organization’s target of reducing annual global greenhouse gas emissions by at least 50% by 2050, with a higher target for carbon intensity reduction.
- Emerging Market Dynamics: A Sea of Opportunities
The growth of emerging markets is reshaping the bulk shipping landscape. Countries in Asia and Africa are experiencing rapid industrialisation, driving demand for raw materials. A GUK Government report, Future of the sea: trends in the transport of good by sea, cites Dicken (2015, 341) and notes that, according to the UN, world population is set to increase to around 10.1 billion by 2100, with increased urbanisation and further rise of megacities key features of this population growth. This explosion of urbanisation, city expansion and new middle class will drive up both export and import in these market, with China already preparing via a proposed Nicaragua Canal.
- Safety and Security: Weathering the Storms
Ensuring safety and security in bulk shipments is a top priority. The cosmetic manufacturing industry, which often deals with high-value cargo, is particularly invested in robust security measures. Piracy and cyber process are two areas connected to safety and risk that need to be managed and fire is still a key cause of loss. Extreme weather is an ongoing concern linked to our climate crisis. Find out more >>>
- E-commerce Impact: Transforming the Last Mile
The rise of e-commerce is impacting bulk shipping dynamics and driving last mile targets linked to green logistics. For example, the wine industry is increasing it’s bulk shipping from single digits to double digits as a percentage of shipping, moving to packaging solutions in the end. Find out more at www.the-buyer.net or www.forbes.com
Bulk shipping packaging solutions
At Pharma Hygiene Products, we can customise vessels and mixers to meet your needs and have an expert team of engineers who can problem solve with you to ensure you get the most from your mixer. We have proven IBC mixers, high shear mixers, and propeller mixers to suit most needs. Send your enquiry info@adelphi.uk.com , or give us a call on +44 (0) 1444 472 300 now to see how we can help you. No question is a bad question!