The number of dry bulk carriers in Norway experienced a steady decline from 2013 to 2017, dropping from 13.02 thousand in 2013 to 3.91 thousand in 2017. This decline was marked by a significant year-on-year decrease of 65.61% in 2017. From 2018 onwards, the trend reversed with gradual growth, reaching 5.68 thousand in 2023. The last two years saw positive year-on-year variations, with 8.94% in 2022 and 8.07% in 2023.
Projected values from 2024 to 2028 suggest a continued upward trend, with a forecasted 5-year CAGR of 4.87%, predicting the number to reach 7.73 thousand by 2028. The growth rate over the next five years is expected to average 26.87%.
Future trends to watch for include technological advancements in shipping, regulatory changes, and global trade dynamics, which could significantly impact the dry bulk carrier market in Norway.
