Deep sea, coastal, and great lakes water transportation industry comprises establishments primarily engaged in providing deep sea, coastal, Great Lakes water transportation of freight and passengers.
The global deep sea, coastal, and great lakes market was valued at $314.7 billion in 2017. Asia Pacific was the largest geographic region accounting for $143.0 billion or 45.5 % of the global market. China was the largest country accounting for $58.3 billion or 18.5% of the global deep sea, coastal, and great lakes market.
Changing shift towards highly available less polluting fuels such as liquefied natural gas(LNG), biofuels and many more are growing recently. Pricing and low emission has resulted in increase in the demand of LNG. Furthermore, European Commission also planned to have 139 LNG refueling facilities for seagoing and inland vessels. Growth of LNG powered ships are likely to play a major role in Deep sea, coastal, and great lakes water transportation industry in the next decade. Companies namely Rolls Royce, Wartsila, MAN have developed different LNG engine technologies for better throughput.
Companies Covered: Carnival Corporation, A.P. Moller, MSC Mediterranean Shipping Company SA, K-Line America, Seacor Holdings Inc.
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