A barge market is a flat-bottomed ship, built mainly for river and canal transport of heavy goods. Some barges are not self-propelled and must be towed or pushed by towboats, canal barges or towed by draft animals on an adjacent towpath.
Growing export and import trade coupled with improving economic conditions in most part of the world are particularly playing a significant role in stimulating market growth. Increasing domestic trade is boosting the need for an efficient mode of transportation. Barge transportation can particularly cater to this need. Additionally, advancements in barge manufacturing technologies are anticipated to further trigger the growth of the market over the forecast period.
The market holds immense growth potential over the forecast period owing to several factors, including increasing investments and initiatives undertaken by various governments for development of effective inland water infrastructure and research activities undertaken by major industry incumbents to develop new designs and upgrade existing designs of barges. For instance, hybrid LNG barges can be considered as a fuel-efficient and environment-friendly alternative for conventional diesel-fired ones.
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Barges can be majorly divided into three types, namely covered, open, and tank. Covered type is primarily used to haul dry goods such as agricultural produce, pharmaceutical products, and electronic & digital appliances. On the other hand, tank ones are used to transport commodities such as crude oil, petrochemicals, and liquid chemicals as well as food pulps and juices.
In terms of type of cargo, the market is classified into liquid cargo, gaseous cargo, and dry cargo. The liquid cargo segment covers carriage of petrochemicals, refined petroleum products, pressurized products, liquid fertilizers, and black oil products, among others. Gaseous cargo involves transportation of products such as LPG and CNG. The dry cargo segment covers carriage of commodities such as coal, fertilizers, and grains.
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Dry cargo is estimated to dominate the market through 2025 owing to large quantities of coal as well as growing volumes of agricultural products being transported in barges. However, dwindling demand for coal is poised to hinder the growth of the segment over the coming years. On the other hand, the liquid cargo segment is likely to register a significant CAGR over the forecast period owing to burgeoning demand for petrochemicals and increasing production of shale oil in the U.S.
Major Key Players in this market Include Campbell Transportation Company, Inc.; Alter Logistics; American Commercial Lines LLC; Heartland Barge; and Kirby Corporation.
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Kuehne Nagel entered into a definitive agreement with XPO Logistics, American transportation, and logistics company, to sell a major part of its UK contract logistics portfolio.
The scope of the transaction includes drinks logistics, food services, and retail & technology businesses.
These operations generated a turnover of approximately CHF 750 million in 2019 and are supported by 7,500 employees.
Currently, there is a huge market for third party logistics, as the retailer success can alter significantly if the product is not delivered on time that too in good condition.
Various 3PL logistics are currently functional in various parts of India, such as Third party logistic company in Pune or Third Party Logistic Company in Mumbai, etc.
but to be the leader they should maintain their quality as well as integrity in delivering the product in any part of India, in an exclusive Omni channel manner.In this regard, the content is intended to provide our readers complete guidance related to third party logistics and its obvious advantages, in a current era.
What exactly is 3 PL?
Today, it becomes too tough as well as costly for a manufacturer to stock all the products in advance and arrange their supply as per the scheduled delivery.
In this regard, various third party logistics, such as third party logistics in Bhiwandi are functional currently, that are being outsourced by many manufacturers to deliver numerous supply chains that are being manufactured by them.
