Shipbroking Market Updates

Global Shipbroking Market size was valued at USD 1.2 billion in 2023 and is poised to grow from USD 1.24 billion in 2024 to USD 1.66 billion by 2032, growing at a CAGR of 3.7% during the forecast period (2025-2032).

To remain competitive in the Shipbroking sector, leading companies are focusing on digitalization, emissions compliance, and real-time analysis. 'Clarksons (United Kingdom)', 'Braemar (United Kingdom)', 'Simpson Spence & Young (SSY) (United Kingdom)', 'Maersk Broker (Denmark)', 'McQuilling Partners (United States)', 'BRS Group (France)', 'Howe Robinson Partners (Singapore)', 'EA Gibson Shipbrokers (United Kingdom)', 'Walter J Hinneberg (Germany)', 'Optima Shipping Services (Greece)', 'Grieg Shipbrokers (Norway)', 'Denholm Group (United Kingdom)', 'Lorentzen & Stemoco (Norway)', 'Barry Rogliano Salles (BRS) (France)', 'Fearnleys (Norway)'

Multinational companies' growth and rising global trade are major drivers of the Shipbroking market. With increasing businesses such as manufacturing, energy, and e-commerce, more transport services are required to export goods from one continent to another. Supply chains across the globe require efficient and reliable freight services, and hence shipbroking services are also required by Walmart and Amazon. Finally, multinational shipping lines and freight forwarders rely more and more on online platforms to streamline operations, further justifying the service of shipbrokers in these big networks.

Short-Term: Shipbrokers are more and more embracing automation, AI, and data platforms to make chartering easier and more transparent. AI-based freight estimators, auto-compliance reporting, and real-time monitoring systems for ships are transforming traditional brokerage models. They eliminate human overhead, accelerate transactions, and provide data-based decision-making support for customers.

Why is Europe Dominating the Shipbroking Market in 2024?