Global Waterborne - LATAM | Statista Market Forecast

Transportation intensity in Latin America is projected to amount to 6.33TKM/GDP.
Volume of goods transported in the Global Waterborne market is projected to amount to 1.76tn TKM in 2024.
Number of container transported in in Latin America is projected to amount to 58.85m TEU in 2024.

Definition

The Global Waterborne Freight market refers to the sector dedicated to the transportation of goods and cargo via sea routes. This market includes the logistics and operational aspects of shipping goods in containers, bulk, and other cargo forms using various types of maritime vessels. It focuses on commercial sea-based freight services and excludes passenger transport and non-maritime freight activities.

Additional Information

The market includes activities related to the commercial transport of goods via sea, including the management of shipping routes, port operations, and cargo handling. Key players in the Maritime Freight market include major shipping lines, freight forwarders specializing in maritime transport, and port operators. These companies are pivotal in shaping the market dynamics and driving innovations in maritime logistics and shipping technologies.

Maritime freight transportation
Container shipping

Inland Waterways shipping
Passenger cruise shipping
Naval and military maritime operations
Shipbuilding and repair services
Offshore oil and gas exploration services
Recreational and leisure boating services

Global waterborne freight market is essential for international trade, encompassing ocean and sea-based transport routes that move goods across continents and between countries. Ocean freight is the backbone of global logistics, offering a cost-efficient solution for long-distance trade. Container ships, bulk carriers, and tankers are integral to this system, providing high-capacity and reliable transport for a wide range of goods. These vessels navigate key maritime routes and strategic chokepoints, such as the Suez Canal, the Panama Canal, and the Strait of Malacca, which are crucial for global trade flows. The development of larger, more efficient ships and advancements in shipping technology have further enhanced the capability and reliability of waterborne freight services.

Waterborne freight often integrates with multimodal transportation networks, connecting seamlessly with road and rail to support the global supply chain. Major seaports serve as critical hubs for loading, unloading, and transshipment, enabling the efficient transfer of goods to their final destinations. This integration helps optimize logistics, reduces transportation costs, and enhances global connectivity.

From an environmental perspective, waterborne freight is considered one of the most sustainable modes of mass transportation. It generally has lower greenhouse gas emissions per ton-mile compared to road and air transport. The maritime industry is actively working towards reducing its carbon footprint by adopting cleaner fuels, improving vessel designs, and implementing slow steaming practices to reduce fuel consumption and emissions.

Investment in port infrastructure, including the expansion of container terminals, deepening of channels, and modernization of cargo handling equipment, is crucial to accommodate larger vessels and increase throughput capacity. Additionally, maintaining navigational safety and compliance with international regulatory frameworks, such as the International Maritime Organization (IMO) standards, are vital for promoting safe and environmentally responsible shipping practices.

As a vital component of the global economy, waterborne freight enables the efficient movement of goods across the world, supporting economic growth and global trade. By providing a reliable and cost-effective means of transporting a wide variety of cargoes, the global waterborne freight market continues to play a key role in the sustainable development of international commerce.

Data coverage:

The data encompasses B2B enterprises. Figures are based on the activities of the Global Waterborne freight market.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting transportation activity due to the non-linear growth of this market

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

Ocean shipping is an integral part of the supply chain for most industries, making it a backbone of global trade. It is estimated that an overwhelming majority of goods, around 80 percent, are transported by ships. The volume of seaborne trade has been showing a growing trend since 1990. Between 1990 and 2021, the volume of cargo transported by ships more than doubled, from four to nearly 11 billion tons. Hand in hand with the rise in seaborne trade goes the increasing capacity of the global merchant fleet. Between 2013 and 2021, the capacity of the worldwide merchant fleet grew by about 43 percent, reaching almost 2.1 million deadweight tons in 2021.