Press release -
Crude Oil Carriers Market: World Market Sales, Consumption, Demand and Forecast 2018–2024
Infinium Global Research added Latest Research Report titled “Crude Oil Carriers Market by Manufacturers, Regions, Product Type and Application, Forecast to 2024” to its Large Report database.
The main objective of this report is to define, describe, and forecast the global “Crude Oil Carriers” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.
Bulk transport of oil or its products to promote growth in the Crude Oil Carriers market
Increasing demand for crude oil and its by-products are the key factors driving the growth of the crude oil carriers market. In addition, growing transportation industry across the world, rising number of automotive and aviation industry, use of growth in various end-use industry and increasing industrialization creates a demand for crude products. However, high logistics cost and decreasing oil imports that are beating into renewable solar power are likely to hamper the growth of the crude oil carrier market during the forecast period.
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On the other hand, the high cost of capital required to acquire ships is also anticipated to create a negative impact on the market growth. Furthermore, Longer hauls and fewer triangulation options or backhaul routes to reduce ballasting are likely to present growth opportunities for industry participants. Increasing oil imports and stabilizing relations between OPEC and NON-OPEC nations are creating huge opportunities over the upcoming years. Moreover, ongoing low global oil prices and high supply from the organization of the petroleum exporting countries are anticipated to boost the demand for carriers demand over the years to come. Therefore, Low bunker fuel prices are likely to spur increased earnings, leading to greater carrier application and demand across the globe.
Asia Pacific region to contribute to growth in the global Crude Oil Carriers market
Asia Pacific dominated the crude oil carriers market. High oil refining, production, and trade activities in UAE, Kuwait, Saudi Arabia, Iraq, and other Middle Eastern countries with large financial resources led to highest industry share for this region.
Maersk Tankers enters into strategic partnership with hedge fund Cargo Metrics
Maersk, Tankers had entered an equity agreement with Cargo Metrics Technologies LLC (Cargo Metrics), a Boston-based hedge fund specializing in quantitative trading models derived from shipping data. The agreement established a strategic partnership between Maersk Tankers and Cargo Metrics, providing Maersk Tankers access and exclusive rights to Cargo Metrics' analytical models, algorithms and capabilities. Cargo Metrics is a technology-driven investment company. Its edge comes from a patented analytical platform that incorporates advances in big data, satellite sensors, and scalable computing technologies to effectively monitor real-time global seaborne activity.
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Report Highlights:
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global crude oil carriers market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of crude oil carriers market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the crude oil carriers market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the crude oil carriers market to understand the present and future trends in this market and formulate their strategies accordingly.
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