Ocean & Coastal Transportation in Florida
The largest segment of the Ocean & Coastal Transportation industry in Florida, deep-sea passenger transportation (i.e. cruise ships), has been performing strongly over the past five years, despite overall industry contraction. Cruise line operators are also highly concentrated and encounter no competition from small players, enabling them to generate hefty profit margins and expand alongside the overall economy. However, the deep-sea freight transportation (i.e. container shipping) segment has been struggling over the past five years. An influx of new, high-volume ships during the period has resulted in a surplus of shipping capacity in the highly globalized industry. Over the next five years, the cruise line segment of the industry is projected to continue expanding, while the freight shipping segment will continue to experience overcapacity and stiff competition. However, as fuel prices increase over the five years to 2022, freight shipping operators will increase their rates to cover these higher costs, causing the industry to generate more revenue from its shipping segment.
This industry provides deep-sea and coastal water transportation. The deep-sea shipping activity includes US-flagged vessels and non-US-flagged vessels (company must have an establishment in Florida or be primarily based in the US). This industry also includes deep-sea passenger transportation such as cruise ships, as well as coastal passenger transportation.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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