Making a splash: Rising disposable income and an aging population will likely increase industry demand
Ocean & Coastal Transportation in Canada The Ocean and Coastal Transportation industry in Canada has experienced relatively strong growth over the five years to 2018. Industry operators transport freight, bulk cargo and passengers along international and coastal shipping routes. Furthermore, rapid economic growth in emerging markets and the growing need for Canadian natural resources enabled industry shipping companies to benefit from Canada’s substantial dry and liquid bulk exports. At the beginning of the five-year period, many maritime transporters expanded their fleets in response to surging demand for freight transportation services, causing the industry to enter a period of overcapacity once industry demand subsided. In turn, many carriers have been forced to lower shipping rates to improve capacity utilization, placing downward pressure on industry revenue and constraining industry profit margins. Over the five years to 2023, modest economic growth in emerging markets, an abating Eurozone crisis and continued growth in both the US and Canadian economies are projected to fuel demand for the industry’s freight transportation services.
Operators in the Ocean and Coastal Transportation industry in Canada primarily transport freight and passengers using deep sea, coastal and Great Lakes water transportation. This industry also includes ocean-going 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.
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