The number of dry bulk carriers in Belgium, expressed in Million Gross Tonnage, has experienced a steady increase from 2013 to 2023, standing at 15.79 Million Gross Tonnage in 2023, marking a 6.54% year-on-year growth. The compound annual growth rate (CAGR) over the last five years is 1.44%, demonstrating consistent expansion. Notably, the CAGR varies significantly across individual years, reflecting fluctuations in market conditions.
Future projections suggest continued growth, with the number expected to reach 18.97 Million Gross Tonnage by 2028. This indicates a forecasted 5-year CAGR of 2.9% and a cumulative growth rate of 15.39% during this period.
Key future trends to watch include the impact of global economic conditions on shipping demand, environmental regulations affecting vessel operations, technological advancements in dry bulk carrier design, and shifts in trade patterns and commodity flows.
