Asia Pacific Container Transshipment Market

Asia Pacific Container Transshipment Market Size

The Asia Pacific container transshipment market size was valued at USD 9.4 billion in 2023 and is projected to grow at a CAGR of 3.3% between 2024 and 2032. Strategic port infrastructure development is addressing major market needs and opportunities. The particularization and new developments of port’s base facilities in specific areas extend the capacity, reduce the congestion, and initiate new international shipping lines. This sustains the trade growth in the regions and enhances the region's status as a transshipment hub.

The new port constructions are anticipated to boost global trade connections through improved effectiveness and reducing dependency on already established major hubs. This will change the scope and presence of Asia Pacific ports in the global supply chains. For example, by August 2024, the Indian Government is in the process of completing the DPR on one of the most deep-water transshipment ports a t Great Nicobar Island with total investments of USD 4.9 billion.

The port development and enhancement of the Andaman and Nicobar Islands stand out as one of the premier global ports’ transshipment regions on the archipelago and endeavors to be one of the prime deep-water ports of India.

The rise of intra-Asia trade routes is propelling the growth in the economy. With free trade agreements among the economic zones of the countries in the region, the regional trade is estimated to increase drastically. This translates to an increase in the container’s traffic passing through services of transshipment hubs, in particular, Southeast Asia. The new market for transshipment services is fueled by the trade routes and larger transshipment ports that allow the Asia Pacific region to remain important for the trade flow of the world.

Asia Pacific Container Transshipment Market Trends

Furthermore, the ports are expanding with their automatization moves, such as the use of cranes, intelligent transport systems, computerized control systems, and other IoT-enabled devices contributing to the fast-growing market. This transition improves the ports’ economic operational ratios, enabling them to curtail expenditure on manpower while providing faster service. Such improvements not only enable more effectiveness but also greatly curb emissions and energy use as per the green policies.

The ports’ effort to adopt automation at a faster pace surely will enhance the region’s transshipment station’s attractiveness for international trade because of competitiveness and productivity. In the month of August 2024, SIGP set forth plans to commence an automated container throw system in Luojing to bolster the construction of Shanghai’s port. The automated intelligent vessels and remote-controlled quay cranes will be used to transport containers. In addition, all terminal berths have received enhanced shore-based power supplies, and contracts were signed for services with the crucial shipping companies.

Small and underdeveloped ports face challenges in infrastructure expansion, which leads to limitations for the growth of the market. And although there have been noteworthy investments in bigger ports, the majority of the secondary transshipment hubs remain stagnant in modernization efforts, which hampers their capacity to serve increased volumes or cater to new, bigger ships. This technology gap and capacity deficit restrict the effectiveness of the region and compel shipping lines to depend on a small number of mega-ports, which results in high chances of congestion at high operational costs, inhibiting the growth of the market.

Asia Pacific Container Transshipment Market Analysis

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Based on size, the market is segmented into small containers and large containers. In 2023, the large containers segment accounted for USD 6 billion and is expected to grow significantly over the forecast time frame.

• They have the largest Asia Pacific container transshipment market share in the Asia-Pacific region due to the rising global trade volumes and the need for economies of scale. When trade flows are high, shipping lines choose to deploy large containers as it increases the cargo capacity per shipment, subsequently lowering operational costs and boosting efficiency.
  
• The use of large containers is further spurred by the transshipment hubs such as Singapore and Shanghai, which are able to cater to large container vessels, thus boosting their appeal on international trade routes.

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Based on the end use, the Asia Pacific container transshipment market is divided into food & beverages, consumer goods, healthcare, industrial products, oil & gas, chemicals and others. The industrial products held 34% of the market share in 2023.

• The industrial products segment dominates the Asia Pacific container transshipment industry as the global manufacturing output keeps increasing.
  
• The region in Asia is regarded as a center for industrial production, and the transport of raw materials and finished goods through transshipment hubs is an important part of the supply chain.
  
• Transshipment services are necessary for the proper functioning of the supply chain of industries, and ports with high industrial-output zones have greater demand for these services.

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In 2023, Singapore accounted for a market share of over 53% in Asia Pacific. Singapore holds the largest Asia Pacific container transshipment market share due to its strategic location and world-class port infrastructure.

• Singapore PSA International has a vast network, connecting to over 600 ports, and lies on some of the busiest shipping lanes in the world. Its consistent development in automation, digital technology, and the expansion of Tuas mega port has made Singapore a top conglomerate for transshipment.
  
• The unmatched shipping volume that the port can support while ensuring visibility has made the port the king of shipping in the area.
  
• Asia’s leading region in container transshipment is establishing its stronghold due to China being one of the biggest manufacturers and exporters in the world. China has some of the busier ports in the world, such as Ningbo-Zhoushan or Shanghai, which are strategically placed in proximity to Chinese factories which produce a lot of goods.
  
• China is focusing on developing port facilities to keep up with the increasing demand, so from Asia to rest of the world, they can remain the best at transshipment services.
  

Asia Pacific Container Transshipment Market Share

PSA, APM Terminals, Hutchison Ports, DP World, COSCO, Shanghai International Port, and China Merchants Port collectively held a significant market share of 35% in the Asia Pacific container transshipment industry in 2023.

• PSA International intends to remain competitive by continuing to implement new technologies like automation and Artificial Intelligence to improve the operational productivity of its ports.
  
• Singapore’s Tuas Mega Port, which is constantly under construction, combined with PSA’s pursuit of digital transformation, guarantees that they will stay ahead in the competition in the transshipment business.
  
• Given their sizable international network and, equally important, their emphasis on sustainability, PSA is likely to be the first in transshipment of containers in Asia Pacific by following the market shifts and changing expectations of clients.
  
• China Merchants Port (CMPort) aims to remain competitive by capitalizing on its enormous port network while also investing in important transshipment centers.
  
• The expansion of CMPort into Southeast Asia and the important investment made in both automation and smart port technologies increases its container volumes.
  
• In order to maintain their top position in the Asia Pacific container transshipment industry, CMPort focuses on innovative and reliable solutions to global shipping lines by strengthening sustainable port operations and global connectivity through partnerships.
  

Asia Pacific Container Transshipment Market Companies

Major players operating in the Asia Pacific container transshipment industry are:

• APM Terminals
• CMA CGM
• COSCO Shipping Ports
• DP World
• Eurogate
• Hamburger Hafen und Logistik
• Hutchison Ports
• MSC
• PSA International
• Terminal Investment Limited
  

The Asia Pacific container transshipment market is extremely competitive, consisting of old marine firms and new companies as well. Key industry players use their extensive resources to devise and implement transshipment solutions which improve container logistics efficiency and reliability. As a result, these companies are now spending more on R&D, using the global supply chain, and applying interdisciplinary solutions to the growing complexity of container transportation in the changing trade world.

This gives rise to the same attempt for differentiation, some companies are adopting customer focus strategies to stand out in the crowd. Firms are focusing on the tailoring of their transshipment services such as flexible routing, quick services, and increased tracking abilities. Improved customer support systems are being implemented, which includes training clients in the intricate details of container logistics. Large amounts of money are being used to market these firms to the public as dependable trade logistics partners. This includes showing that they follow service and safety standards, as well as utilizing creative solutions to problems.

Asia Pacific Container Transshipment Industry News

• In July 2024, PSA Singapore (PSA), a pivotal global transshipment port, further developed its operations to cope with the growing demand and ease global supply chain constraints. This included strengthening frontline capabilities, adding more berths at Tuas Port, and open intakes of berths and yard areas at Keppel Terminal. There have been significant improvements which have substantially reduced port congestion, now averaging less than two days of waiting time for vessels in recent weeks.
  
• In February 2024, HERE Technologies partnered with PSA Singapore to change the paradigm of container truck operations in Singapore. With the driver’s cell phone location, real-time optimization of the routing and truck assignments is done utilizing HERE Tour Planning and Location Services with the aided of the OptETruck system. Letting the partnership avoid empty hauls while assigning the nearby driver’s job puts a boost to operational performance. It eliminates unwarranted transport runs while thoroughly reducing total wait time for both the community drivers and operationalists. This drastic change creates a revolutionized and high performing system while lowering the amount of carbon emissions at the same time.
  

The Asia Pacific container transshipment market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue ($ Mn/Bn) and Volume (TEUs) from 2021 to 2032, for the following segments:

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Market, By Size

• Small containers (20 feet)
• Large containers (40 feet)

Market, By Container

• Dry storage
• Flat rack
• Refrigerated
• Special purpose
• Others

Market, By End-Use

• Food & beverages
• Consumer goods
• Healthcare
• Industrial products
• Oil & gas
• Chemicals
• Others

Market, By Port

• Deep-Water
• Shallow-Water

The above information is provided for the following regions and countries:

• Asia Pacific
  • China
  • India
  • Japan
  • Singapore
  • Malaysia
  • Indonesia
  • Vietnam
  • Thailand
  • Philippines
  • Oman
  • Sri Lanka
  • Thailand
  • Hong Kong 
  • South Korea