Port, Harbor & Marine Terminal Management
Description
Companies in this industry operate ports and harbors and provide water transportation support services, including cargo handling and vessel navigation. Major companies include APM Terminals (Netherlands), COSCO Shipping Ports (China), DP World (United Arab Emirates), Hutchison Port Holdings (Hong Kong), and PSA International (Singapore).
Because demand for marine support services is closely tied to the movement of goods, the industry is concentrated in regions with the greatest amount of trade. Norway has the highest number of vessel calls in 2022, followed by Japan, according to Statista.
The US port, harbor, and marine terminal management industry includes about 2,500 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $19 billion. The industry does not include marinas or companies that focus on shipbuilding and repair, which are covered in separate profiles.
COMPETITIVE LANDSCAPE
Demand is driven by interregional and international trade. The profitability of individual companies depends on efficient operations and reliable service. Large companies, some of which have terminals in dozens of countries, have advantages in capacity and geographic reach. Small companies can compete effectively by serving regional markets or providing specialized services. The US industry is concentrated: the 50 largest firms generate about 70% of industry revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major services include cargo handling (about 50% of US industry revenue), navigational services for marine vessels (about 15%), and marine facility services (about 15%). Other services include cargo checking and routine ship maintenance and repair.
Located along coastlines, rivers, and other large waterways, major ports stretch for miles and typically encompass a combination of public and private facilities that are designed to handle a wide variety of cargo. Primary types of cargo include general, or break bulk cargo; intermodal container, bulk, and roll-on-roll-off (RORO) cargo -- wheeled cargo such as automobiles, railroad cars, and truck trailers. Some port operators also maintain passenger terminals. Tankers, containerships, and dry bulk vessels account for the vast majority of calls at US ports. However, the variety of cargo that travels through an individual port varies by location. For example, the Port of Houston is the busiest in the US for tanker traffic, while the Port of Los Angeles sees the most container ships.
Port authorities, governmental bodies that typically own and manage ports, function with varying levels of responsibility. Some actively operate terminals, while others are more like landlords, leasing property and facilities to shipping companies and terminal operators. The maintenance of ports and other waterways is shared by port authorities and the US Army Corps of Engineers, which is responsible for widening and deepening ship channels.
Terminal operators move cargo from ships to trains, trucks, or storage facilities. Dockworkers load and unload cargo by hand and using heavy cargo-handling equipment, including forklifts and cranes. Crane types include ship-to-shore (STS) cranes, which are used to unload intermodal containers from ships, and rubber tire gantry (RTG) cranes, which are used to stack containers.
The use of standardized steel containers to move cargo has allowed transportation companies, including terminal operators, to greatly improve efficiency. Because they can be carried by different transport modes (ship, train, truck), such containers greatly decrease the amount of time spent handling the actual cargo. Most consumer goods are shipped via intermodal containers.
Because demand for marine support services is closely tied to the movement of goods, the industry is concentrated in regions with the greatest amount of trade. Norway has the highest number of vessel calls in 2022, followed by Japan, according to Statista.
The US port, harbor, and marine terminal management industry includes about 2,500 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $19 billion. The industry does not include marinas or companies that focus on shipbuilding and repair, which are covered in separate profiles.
COMPETITIVE LANDSCAPE
Demand is driven by interregional and international trade. The profitability of individual companies depends on efficient operations and reliable service. Large companies, some of which have terminals in dozens of countries, have advantages in capacity and geographic reach. Small companies can compete effectively by serving regional markets or providing specialized services. The US industry is concentrated: the 50 largest firms generate about 70% of industry revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major services include cargo handling (about 50% of US industry revenue), navigational services for marine vessels (about 15%), and marine facility services (about 15%). Other services include cargo checking and routine ship maintenance and repair.
Located along coastlines, rivers, and other large waterways, major ports stretch for miles and typically encompass a combination of public and private facilities that are designed to handle a wide variety of cargo. Primary types of cargo include general, or break bulk cargo; intermodal container, bulk, and roll-on-roll-off (RORO) cargo -- wheeled cargo such as automobiles, railroad cars, and truck trailers. Some port operators also maintain passenger terminals. Tankers, containerships, and dry bulk vessels account for the vast majority of calls at US ports. However, the variety of cargo that travels through an individual port varies by location. For example, the Port of Houston is the busiest in the US for tanker traffic, while the Port of Los Angeles sees the most container ships.
Port authorities, governmental bodies that typically own and manage ports, function with varying levels of responsibility. Some actively operate terminals, while others are more like landlords, leasing property and facilities to shipping companies and terminal operators. The maintenance of ports and other waterways is shared by port authorities and the US Army Corps of Engineers, which is responsible for widening and deepening ship channels.
Terminal operators move cargo from ships to trains, trucks, or storage facilities. Dockworkers load and unload cargo by hand and using heavy cargo-handling equipment, including forklifts and cranes. Crane types include ship-to-shore (STS) cranes, which are used to unload intermodal containers from ships, and rubber tire gantry (RTG) cranes, which are used to stack containers.
The use of standardized steel containers to move cargo has allowed transportation companies, including terminal operators, to greatly improve efficiency. Because they can be carried by different transport modes (ship, train, truck), such containers greatly decrease the amount of time spent handling the actual cargo. Most consumer goods are shipped via intermodal containers.
Table of Contents
- Industry Overview
- Quarterly Industry Update
- Business Challenges
- Business Trends
- Industry Opportunities
- Call Preparation Questions
- Financial Information
- Industry Forecast
- Web Links and Acronyms
Pricing
Currency Rates
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