The Australian International Sea Transport industry is recovering from one of the most complex and foreboding set of circumstances world shipping has faced. IBISWorld estimates industry revenue will grow by 8.3% over 2011-12 to reach $3.8 billion. Cargo volumes have grown since the global downturn hit, and demand for sea transport is expected to gain further momentum over 2011-12. However, new vessels are expected to continue to launch, keeping shipping rates down, along with industry profit. Vessel launches will continue at an unprecedented rate due to the high number of ship orders in the high shipping rate environment between 2006 and mid-2008.
The industry operates vessels for the transportation of passengers or freight by sea between domestic and foreign ports. The high percentage of service imports as a proportion of demand reflects the dominance of foreign-flagged ships servicing Australian ports.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.