In the five years to 2016, the Ocean and Coastal Transportation industry sailed through stormy seas. Even though the economy has grown in the postrecessionary years, unemployment has remained elevated while income growth has stayed weak. Consequently, demand for vacation cruises has been tempered. In the coming years, increasing incomes and improving economic conditions in the United States and among its main trading partners will increase demand for cruises and sea freight shipments, thereby driving demand for industry services.
This industry provides deep-sea, coastal, Great Lakes and St. Lawrence Seaway water transportation. The deep-sea shipping activity includes US-flagged vessels and non-US-flagged vessels (company has to be primarily based in the US). Marine transportation establishments that use the St. Lawrence River are considered a part of the Great Lakes Water Transportation System and are thus included in this report. This industry also includes deep-sea passenger transportation such as cruise ships.
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.