Based on historical data of General Cargo Ships in Australia, the trend of units from 2013 to 2023 shows fluctuations with a notable dip in 2020. In 2023, the number of general cargo ships stood at 34 units. The year-on-year variation reveals a decrease by 0% from 2022 to 2023 and an average annual decrease (CAGR) of -1.68% over the last five years. Over the period from 2013 to 2023, the sector experienced both cyclical peaks and troughs, indicative of market volatility.
Considerations for future trends:
- Forecasts from 2024 to 2028 indicate a continued slight downward trend with a forecasted average annual decrease (CAGR) of -1.29% and a forecasted reduction of 6.3% to 31.1 units in 2028.
- Monitoring changes in global trade policies and economic conditions that could impact the Australian maritime industry.
- Keeping an eye on technological advancements and shifts towards more efficient or alternative shipping solutions which could influence the demand and fleet composition.