Overview:
The global ship leasing industry took off in the mid-1950s with the growing prevalence of container shipping. It has grown to become a significant element in maritime trade.
Containerized shipping is carried out all around the globe, but the key regions are the major manufacturing economies in Asia and the major consuming economies in North America as well as Europe. Within Asia, the rising trade activity between countries is connecting the region’s rapidly expanding markets. The growth in containerized trade has risen significantly with the internationalization of manufacturing supply chains. Ship leasing comes into the picture by means of growing demand for marine transportation in this department.
Global ship leasing works in the form of a time charter agreement. Under this agreement, the lessor provides the vehicle – here, it would be the ship – to the lessee, for a stipulated period of time, for undertaking activities as prescribed within the agreement. Ship leasing is typically carried out for the transportation of consumer and manufactured goods. The lessor undertakes the operating costs and crew costs of the ship. The fuel costs are undertaken by the lessee for the duration of the lease period.
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The expansion of the global economy is one of the key driving factors for the growth of the ship leasing market. With the boost in inter-continental and intra-continental trade, ships are becoming an important need for transporting cargo and goods. With rising prices in fuel and maintenance, several companies are opting to lease ships for their transportation needs. Globalisation of trade and cost-cutting measures are the key drivers in the growth of the ship leasing market.
Key Players :
Hamburg Commercial Bank
Maersk
First Ship Lease Hoiding
Bank of Communications Financial Leasing
ICBC Leasing
Galbraith’s
CCB Financial Leasing
Minsheng Financial Leasing
Global Ship Lease
CMB Financial Leasing
Segmentation:
The ship leasing market is segmented based on product type and application. Based on product type, the market is segmented into periodic tenancy, bare boat charter, and real-time lease. Periodic tenancy involves the consistent renewal of the tenancy agreement between the owner and tenant, until the tenant has put an end to the agreement. A bare boat charter involves the leasing of a boat or a ship without crew or operations managers. A real-time lease is the most common form of ship leasing for a stipulated period of time.
On the basis of application, the ship leasing market can be segmented into container ships or bulk carrier ships.
Regional Overview:
The ship leasing market study is conducted based on the market activity in the following regions – Americas, United States, Canada, Mexico, Brazil, APAC, China, Japan, Korea, Southeast Asia, India, Australia, Europe, Germany, France, UK, Italy, Russia, Spain, Middle East & Africa, Egypt, South Africa, Israel, Turkey, and GCC Countries.
Industry News:
In light of the global economic crisis that prevailed in 2008, the shipping industry suffered some major setbacks in terms of market growth and development. Traditional financing for ships is available only to the minority of the “blue chip” ship-owning companies, leading other ship-owing companies to seek non-traditional ways to stay afloat. Ship sale and leaseback has become a common venture amongst shipping companies today. The absence of capital outlay, and the freedom to invest in other areas of the business is the primary driving factor for companies pursuing ship sale and leaseback.
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