Inland Marine Transportation Market

Part
01
of two
Part
01

Customer Segments: Inland Marine Transportation

Container transportation, towing and tugboat services, and passenger transportation are the main segments of the inland marine transportation market in the United States. In 2019, American Commercial Lines LLC and Kirby Corporation's market share was estimated to be 40.9% and 18.4% in the United States inland marine transportation. Continue below for a deep dive into our findings, research strategy, and calculations.

United States Inland Marine Transportation; Market Overview

  • In 2019, the United States' inland marine transportation market size was estimated to be $9 billion.
  • Inland marine transportation is currently experiencing a decline, with a CAGR of 4.2%.
  • Container transportation, towing and tugboat services, and passenger transportation are the main segments of the inland marine transportation market in the United States.
  • Container transportation is currently the largest segment in the United States inland marine transportation.
  • Canal barge transportation, freight transportation on inland waters, Intracoastal transportation of freight, lake freight transportation, lighterage, river freight transportation, ship chartering with crew on inland waters, shipping freight on inland waters, towing services on inland waters are the main activities of the inland marine transportation market.

Container Transportation

Towing and Tugboat Services

Passenger Transportation

  • Passenger transportation refers to the inland water transportation of passengers on lakes, rivers, or Intracoastal waterways.
  • Canal passenger transportation, car lighters, Intracoastal transportation of passengers, lake passenger transportation, and water shuttle services are some subsegment of passenger transportation in inland marine transportation.
  • Port Imperial Ferry Corp, HMS Global Maritime Inc, and Lake Champlain Trnsp Company are some key players in the passenger transportation segment of the United States inland marine transportation by revenue share.

United States Inland Marine Transportation; Key Players

Kirby Corporation

  • Kirby Corporation's annual revenue was estimated to be $3 billion.
  • In 2019, Kirby marine transportation revenue was estimated to be $1.66 billion.
  • In 2019, Kirby Corporation's market share was estimated to be 18.4% in the United States inland marine transportation.
  • In 2018, Kirby marine transportation revenue was estimated to be $1.5 billion.
  • Inland tank barges and towing vessels are the main services of Kirby Corporation.

Ingram Industries Inc.

  • Ingram is a private company that offers inland marine transportation in the United States.
  • Ingram annual revenue was estimated to be $2.4 billion.
  • Revenue from marine transportation was not publicly available.
  • Barges and towing services are the main services of Ingram inland marine transportation.

American Commercial Lines LLC

  • In 2019, American Commercial Lines LLC revenue from marine transportation was estimated to be $3.68 billion.
  • In 2019, American Commercial Lines LLC market share was estimated to be 40.9% in the United States inland marine transportation.
  • American Commercial Lines LLC financial filing was last reported in 2008.
  • In 2008, American Commercial Lines LLC revenue from marine transportation was $942,011,000.
  • Affreightment, dedicated barges, unit-tow, contract towing, barge management are some services of American Commercial Lines LLC.

RESEARCH STRATEGY

To locate the major segments and subsegments within the United States inland marine transportation, we began by combing through industry reports, press releases, and market reports like IBIS World, Pr Newswire, and Grandview reports. We were able to locate an overview of the inland marine transportation market and the market segment. Information regarding the market share of the segment was reported behind a paywall. Relevant information only references key players and the container transportation segment as the largest segment in the inland marine transportation in the United States.

Next, we scoured government websites like the National Transportation Library and the United States Inland Waterway Navigation websites for information regarding the market share and subsegment of the inland marine transportation segment in the United States. Information found was referencing subsegment of the inland marine transportation segment like the liquid bulk transportation and dry bulk transportation as a segment of the container transportation. Information regarding the revenue of these segments was not reported.

Lastly, we changed our strategy by combing through company websites and annual reports of leaders in the inland marine transportation market in the United States. Our research team was able to locate Kirby Corporation, Ingram Industries Inc., and American Commercial Lines LLC as leaders in the United States inland marine transportation market. We went further to locate the company's annual revenue and revenue generated from inland marine transportation. Ingram was a private company and has not reported its annual reports publicly. American Commercial Lines LLC financial filing was last reported in 2008. We, therefore, used the CAGR calculator to triangulate the current revenue.

CALCULATIONS

Kirby Corporation

In 2018, Kirby Corporation revenue from marine transportation was $1,483,143,000.
In 2017, Kirby Corporation revenue from marine transportation was $1,324,106,000.
Period = 2 (2017-2018)
CAGR = 5.84%
Period = 2 (2018-2019)
In 2019, Kirby Corporation revenue from marine transportation was estimated to be $1,661,432,450

American Commercial Lines LLC

In 2004, American Commercial Lines LLC revenue from marine transportation was estimated to be $506,968,000.
In 2008, American Commercial Lines LLC revenue from marine transportation was estimated to be $942,011,000.
Period = 5 (2004-2008)
CAGR = 13.19%
Period = 11 (2008-2019)
In 2019, American Commercial Lines LLC revenue from marine transportation was estimated to be $3,680,820,451

MARKET SHARE; KEY PLAYERS

In 2019, the United States inland marine transportation market size was estimated to be $9 billion.
In 2018, American Commercial Lines LLC revenue from marine transportation was estimated to be $3.68 billion.
In 2018, Kirby marine transportation revenue was estimated to be $1.66 billion.

American Commercial Lines LLC market share = ($3.68 billion / $9) x 100% = 40.9%
Kirby Corporation market share = ($1.66 billion / $9 billion) x 100% = 18.4%

NOTE:

Our research team was unable to locate the market share of the major segment in the United States inland marine transportation market. The reason which we attributed to the fact that key players in the industry offer services that overlap among the segments.
Part
02
of two
Part
02

Opportunities: Inland Marine Transportation

Two opportunities for innovation in the inland marine transportation industry are the increasing size of deep sea vessels as well as the increasing demand for inland marine transportation as a whole.

INCREASING SIZE OF DEEP SEA VESSELS

INCREASING DEMAND FOR INLAND MARINE TRANSPORTATION

  • Another significant opportunity and unmet need in the inland marine transportation industry is the fact that the supply of harbor boats has not kept pace with increasing demand for inland marine transportation.
  • While some of this phenomenon is concentrated in ports that are particularly able to accommodate the growth in large deep sea vessels, work boats, barges and the inland marine transportation industry as a whole is seeing demand for services outweigh supply.
  • At a macro level, experts in the inland marine transportation industry suggest this shift in demand reflects continued economic expansion in the US, strong forecasts for commodity exports and imports, and gradually easing trade war tensions between the US and China.
  • Additionally, ongoing efforts by the Americas Marine Highways (AMH) to shift surface transportation onto the waterways is only increasing demand for inland vessels.
  • As a result, there has been a spike in revenue and fees charged by inland marine transportation, as well as new boom in production.
  • For example, Foss Maritime recently placed a four-vessel order, with an option for six additional vessels, for tractor tugs from Nicholls Brothers.
  • Additionally, Chairman and CEO of Campbell Transportation Co., Peter Stephaich, recently commented that his company has "no open barges," and is unable to "take on some spot work," despite interest, due to the demand and supply imbalance.

RESEARCH STRATEGY

Please note, for the purpose of this analysis, opportunities in the marine transportation industry were defined as needs, weaknesses or innovations that have been recently discussed by multiple credible resources or industry experts.
Sources
Sources

From Part 01