Ocean & Coastal Transportation in the US
The Ocean and Coastal Transportation industry, which includes both cruise lines that transport passengers to vacation destinations and freight shippers that transport cargo to and from US ports, has experienced limited growth over five years to 2018. While rising US trade activity bolstered industry revenue during the first half of the five-year period, overcapacity in the deep-sea freight shipping market has constrained industry growth in recent years. Over five years to 2023, the industry's cruise lines will continue to benefit from rising income levels and increased consumer spending on recreation. At the same time, increasing US trade activity is expected to generate substantial demand for industry freight transportation services, while rebounding oil prices will enable operators to earn additional revenue through fuel surcharges. However, industry revenue will continue to be tempered by the problem of overcapacity.
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 (operators must be primarily US based). 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.
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