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Ocean & Coastal Transportation in the US - Industry Market Research Report

  • July 2017
  • 35 pages
  • Ibisworld
Report ID: 499602

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Smooth Sailing: Cruise lines will continue to benefit from rising income levels and increased consumer spending on recreation

Abstract
Ocean & Coastal Transportation in the US

Over the five years to 2017, the Ocean and Coastal Transportation industry has experienced limited growth due to, among other factors, overcapacity in the deep-sea fright shipping market. While rising US trade activity bolstered industry revenue during the first half of the five-year period, shocks to the price of crude oil have limited operators’ ability to generate revenue through fuel surcharges, causing revenue to decline in 2015 and 2016.

Over the five years to 2022, 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.

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.

MAJOR COMPANIES
- Carnival Corporation
- Royal Caribbean Cruises Ltd.
- Norwegian Cruise Line Holdings Ltd.

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