Ebb and flow: Passenger transport will grow as freight shipping continues to flounder

The largest segment of the Ocean & Coastal Transportation industry in Florida, deep-sea passenger transportation (i.e. cruise ships), has been performing strongly over the past five years, despite overall industry contraction. Cruise line operators are also highly concentrated and encounter no competition from small players, enabling them to generate hefty profit margins and expand alongside the overall economy. However, the deep-sea freight transportation (i.e. container shipping) segment has been struggling over the past five years. An influx of new, high-volume ships during the period has resulted in a surplus of shipping capacity in the highly globalized industry...purchase to read more.

Industry Statistics & Market Size
Revenue
$16bn
Annual Growth 12-17
-0.1%
Forecast Growth 17-22
Profit
Employment
15,179
Businesses
185

Industry Threats & Opportunities

  • Deep-sea passenger transportation has been performing strongly over the past five years, despite overall industry contraction
  • Lagging demand and severe overcapacity has intensified competition among deep-sea freight transporters
  • Both the passenger and freight segments will benefit from improved economic conditions
  • Industry Report - Industry Key Buyers Chapter

    Market share concentration in the Ocean and Coastal Transportation industry in Florida is moderate, with the four largest companies accounting for more than 50.0% of industry revenue in 2017. Significant barriers to entry and high capital costs make it difficult for smaller players to gain a significant foothold in the market. Although small boats used for coastal tourism and other passenger activities are substantially expensive, larger boats like cruise ships and container vessels cost hundreds of millions of dollars each. As a result, an estimated 59.7% of industry operators employ fewer than five people, while large enterprises that employ more than 100 people make up only 11.8% of operators...purchase to read more.

    Additional Insights for the Ocean & Coastal Transportation in Florida Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Ocean & Coastal Transportation in Florida Industry are

  • Business expertise of operators
  • Rapid expansion and reduction of operations in line with demand
  • User- and consumer-friendly experiences
  • IBISWorld analysts also discuss how external factors such as Total trade value and Total recreation expenditure in the Ocean & Coastal Transportation in Florida industry impact industry performance..

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    What's in this report

    What is the Ocean & Coastal Transportation in Florida Industry?

    This industry provides deep-sea and coastal water transportation. The deep-sea shipping activity includes US-flagged vessels and non-US-flagged vessels (company must have an establishment in Florida or be primarily based in the US). This industry also includes deep-sea passenger transportation such as cruise ships, as well as coastal passenger transportation.

    Industry Products
  • Deep-sea passenger transportation
  • Deep-sea freight transportation
  • Coastal freight transportation
  • Coastal passenger transportation
  • Industry Activities
  • Deep-sea passenger transportation
  • Deep-sea freight transportation
  • Coastal passenger transportation
  • Coastal freight transportation
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Total trade value
  • Total recreation expenditure
  • Consumer Spending in Florida
  • Total Exports from Florida
  • World price of crude oil

  • Current Performance
  • Smooth sailing for cruise lines
  • Choppy waters for freight shippers
  • Chart: Revenue Growth

  • Industry Outlook
  • Freight shipping remains vulnerable
  • Cruise lines continue to expand
  • Table: Ocean & Coastal Transportation in Florida Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Ocean & Coastal Transportation in Florida Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Wheat, Barley & Sorghum Farming
  • Mining
  • Manufacturing
  • Wholesale Trade

  • Key Selling Industries
  • Boat Building
  • Port & Harbor Operations
  • Ship Building
  • Tugboat & Shipping Navigational Services

  • Products & Services
  • Deep-sea passenger transportation
  • Deep-sea freight transportation
  • Coastal freight transportation
  • Coastal passenger transportation
  • Chart: Ocean & Coastal Transportation in Florida Industry Products and Services Segmentation

  • Major Markets
  • Individual consumers
  • Freight shippers
  • Chart: Major Market Segmentation for the Ocean & Coastal Transportation in Florida Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Depreciation
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Ocean & Coastal Transportation in Florida

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Ocean & Coastal Transportation in Florida Industry

  • Carnival Corporation, Royal Caribbean Cruises Ltd., Disney Cruise Line, Maersk Line, Mediterranean Shipping Company SA, ZIM Integrated Shipping Services Ltd.,
  • Table: Carnival Corporation - financial performance
  • Table: Royal Caribbean Cruises Ltd. - financial performance
  • Table: Disney Cruise Line - financial performance
  • Table: Maersk Line - financial performance
  • Table: Mediterranean Shipping Company SA - financial performance
  • Table: ZIM Integrated Shipping Services Ltd. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Ocean & Coastal Transportation in Florida Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Ocean & Coastal Transportation in Florida Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Total trade value (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Capacity Utilization
  • The actual amount of cargo carried by a ship, measured as a percentage of the ship's total capacity.
  • Twenty-Foot Equivalent Unit (Teu)
  • A unit of measurement for container shipping capacity, which is the size of a standard 20-foot shipping container. A 40-foot container (another standardized size) would measure two TEUs.
  • Ultra Large Container Vessel
  • A container ship with a capacity of 14,501 TEUs or higher. Also referred to as a "megaship."
  • Vessel-Sharing Agreement (Vsa)
  • A cooperative agreement between two or more container shipping lines through which cargo booked on competing lines may travel on the same ship.
  • What Our Customers Say

    Why buy this report?

    The Ocean & Coastal Transportation in Florida industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Ocean & Coastal Transportation in Florida:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Ocean & Coastal Transportation in Florida market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Ocean & Coastal Transportation in Florida, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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