US Ocean & Coastal Shipping Market Report
A decline in demand for freight transportation leads IBISWorld to update its market report on US Ocean & Coastal Transportation. The transportation sector 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. Marine transportation establishments using the facilities of the St. Lawrence Seaway Authority Commission are considered to use the Great Lakes water transportation system. This industry also includes deep-sea passenger transportation such as cruise ships. The updated report indicates that an overall decline in demand for freight transportation caused nearly all operators to struggle during the recession.
US Inland Waterway Transportation Outlook
With consumers increasing their spending as the economy recovers, and manufacturers likewise boosting their production, demand for inland water transportation will get a boost. Additionally, rising fuel costs will lead to operators earning more money from fuel surcharges. However, the industry will experience some turbulence from rail transport providers, which are often seen as cheaper, faster and more environmentally friendly. For these reasons, industry research firm IBISWorld has added a report on the Inland Water Transportation industry to its growing industry report collection. The Inland Water Transportation industry dipped as the economy sank into recession. Over the past couple of years, consumers have decreased spending, and manufacturing industries have decreased production.
