PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1880584
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1880584
The global shipbroking market continues to expand as global trade flows, fleet modernization, and shifting supply chain dynamics intensify the need for brokerage services across maritime sectors. According to the latest industry data, the shipbroking market was valued at USD 2.82 billion in 2024, driven by rising seaborne trade and a surge in commodity demand. The market is expected to grow further to USD 2.91 billion in 2025 and reach USD 3.75 billion by 2032, supported by freight rate volatility, new vessel orders, sustainability regulations, and expanding maritime infrastructure.
Growing Demand for Maritime Transport Drives Market Expansion
More than 80% of global trade moves by sea, as reported by UNCTAD, creating a strong foundation for the shipbroking industry. Rising movement of commodities-including metals, mining products, crude oil, LNG, agricultural goods, and manufactured items-continues to generate steady brokerage demand. The rise of e-commerce and global sourcing diversification has increased container shipping volumes, stimulating chartering activities. Additionally, investments in new port infrastructure and fleet development are supporting the market's expansion, particularly in fast-growing economies across Asia Pacific and the Middle East.
Leading market players-such as Clarksons Plc, Braemar Plc, IFCHOR GALBRAITHS, and Howe Robinson-are expanding service portfolios through acquisitions, technology upgrades, and regional office openings. These initiatives enhance global reach and strengthen their competitive positioning in the shipbroking ecosystem.
Impact of Tariffs and Trade Volatility
Reciprocal tariffs and trade tensions have reshaped global shipping routes, creating both opportunities and challenges for brokers. Tariff-related disruptions often lead to diversified trade routes, freight rate fluctuations, and increased demand for sale and purchase broking. As companies adjust their sourcing strategies, the complexity of maritime trade flows increases, leading to stronger reliance on shipbrokers for risk management, chartering agreements, and advisory services.
Market Trends: Rise of Clean Energy Commodities
A major emerging trend is the rising demand for clean energy commodities such as LNG, ammonia, hydrogen-derived fuels, and battery materials. Energy transition projects-such as solar, wind, and hybrid power installations-are boosting tanker trade volumes for renewable fuels. For example, in August 2025, Uganda approved a 100 MW solar PV project supplied by Energy America. Increasing transport of ammonia, biofuels, and battery components is reshaping global tanker and dry bulk trade, fueling demand for specialized broking services.
Segmentation Overview
By Service Type
Chartering services dominated the market in 2024 due to strong demand for dry bulk and tanker transportation. According to UNCTAD, dry bulk and tanker commodities accounted for over 70% of global seaborne trade in 2023, creating high-value chartering opportunities and brokerage commissions.
Newbuilding services are gaining momentum as shipowners invest in greener fleets, alternative fuels, and fleet renewal programs driven by decarbonization policies.
By Broking Type
Tanker broking generated the highest revenue in 2024, supported by volatile freight rates, rising energy trades, and increased routing complexities.
Futures broking is projected to grow the fastest through 2032 as forward freight agreements (FFAs) expand across dry bulk, LNG, tanker, and container segments.
By End Use
The mining sector held the largest share in 2024 due to strong dry bulk movements, long-term contracts, and large-volume shipments.
The renewable energy and power generation segment is expected to grow the fastest, driven by offshore wind development, rising biofuel demand, and clean energy shipping requirements.
Asia Pacific
Asia Pacific led the global market with USD 1.30 billion in 2024, underpinned by strong import and export flows of dry bulk commodities such as coal, iron ore, and steel. China plays a major role, importing over 1.24 billion tons of iron ore in 2024, marking 6.6% year-on-year growth.
Europe
Europe is expected to record the highest growth rate through 2032, supported by long-haul trade routes, re-routing strategies, and high dry and liquid cargo volumes. The U.K. remains the leading European hub, driven by the Baltic Exchange and major shipbroking firms.
North America
North America shows steady growth, supported by rising energy exports and supply chain realignment. In 2024, the U.S. exported over 55% of its crude oil and natural gas plant liquids to Mexico and other destinations, strengthening brokerage activities.
South America & Middle East & Africa
South America benefits from strong agricultural exports and rising demand for lithium and copper shipments. The Middle East & Africa market is driven by expanding LNG capacity, Red Sea trade routes, and rising crude oil exports.
Conclusion
With the market projected to reach USD 3.75 billion by 2032, the shipbroking industry is poised for steady expansion. Clean energy transitions, freight rate volatility, digitalization, and global supply chain restructuring will continue to elevate the role of brokers in global maritime trade.
Segmentation By Service Type
By Broking Type
By End Use
By Region
Companies Profiled in the Report Braemar Plc (U.K.)
BRS Group (France)
Clarkson Plc (U.K.)
E.A. Gibson Shipbrokers Ltd. (U.K.)
Howe Robinson Partners Pte Ltd. (Singapore)
IFCHOR GALBRAITHS (Switzerland)
Simpson Spence Young Ltd. (U.K.)
Maersk Broker K/S (Denmark)
Freight Investor Services (U.K.)
Fearnleys AS (Norway)