Ocean & Coastal Transportation in Texas
Despite strong growth in the overall Texas economy, the Ocean and Coastal Transportation industry in Texas has experienced limited growth over the past five years as volatile fuel prices and mounting price competition have placed downward pressure on freight shipping rates. This trend has been exacerbated by an excess of cargo carrying capacity, which has forced carriers to reduce freight rates to remain competitive. Fortunately for industry operators, improving consumer conditions in Texas have stimulated consumer spending and manufacturing activity within the state, bolstering demand for the transportation of commercial goods and manufacturing inputs. Ultimately, industry revenue is estimated to increase over the five-year period. Moving forward, rising levels of consumer spending and manufacturing activity in Texas will continue to generate demand for industry services.
This industry provides deep sea and coastal waterborne transportation services. Deep sea shipping activity primarily includes US-flagged vessels and nonUS-flagged vessels (operators must be primarily US-based) transporting cargo and passengers to and from foreign ports, while the industry’s coastal services are limited to coastal waters, the Great Lakes System and deep seas between US island possessions. Deep sea cruise line operations are included in this industry.
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.