The coastal waterborne freight volume in the US stood at 155.29 million short tons in 2023. Analyzing the historical data from 2013 to 2023, the trend indicates a declining tendency with some fluctuations. Notably, in 2020, the volume significantly dropped by 44.7% driven by the global pandemic impacts. Subsequently, there was a remarkable recovery in 2021 with a 67.55% increase. However, the overall trend from 2019 to 2023 reveals a negative CAGR of -1.23%. Forecasting to 2028, the coastal waterborne freight volume is expected to continue its decline with an average annual decrease of -1.04%, resulting in a cumulative reduction of 5.1% over five years.
- 2013-2023 Historical Trend: Declining with significant fluctuations, sharp drop in 2020
- 2020: Major impact due to global pandemic leading to a 44.7% drop
- 2021 Recovery: Substantial rebound with a 67.55% increase
- 2023 Volume: 155.29 million short tons
- 2024-2028 Outlook: Progressive decline with a -1.04% CAGR
Future trends to watch for include the impact of environmental regulations on shipping operations, advancements in maritime technology, and the potential shifts due to global trade policies and economic conditions. The focus on sustainable practices and the increasing demand for green shipping solutions could significantly shape the future landscape of the coastal waterborne freight industry in the US.
