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The US deep sea shipping industry includes about 300 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $7 billion. Major companies include APL, Crowley, and Overseas Shipholding Group. The industry is highly concentrated: the 50 largest companies account for more than 90 percent of industry revenue.
Deep sea shipping is the transport of cargo to and from foreign ports. US coastal and Great Lakes shipping, which includes deep sea shipping between US ports, is covered in a separate industry profile, as are cruise ship operations.
Demand is driven by macroeconomic trends in global imports and exports. The profitability of individual companies depends on efficient operations and a good safety record. Large companies have advantages in fleet size and port access. Small companies can compete effectively by chartering services out of smaller ports and transporting unusual cargo. The industry is capital-intensive: average annual revenue per worker is about $600,000.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major services include transportation of intermodal containers (about 35 percent of industry revenue), boxed and palletized goods (25 percent), dry bulk cargo (10 percent) and bulk liquids and gases (10 percent). Other services include transportation of automobiles and trailers, as well as maintenance and repair services.
Major vessel types include containerships, which transport intermodal shipping containers, dry bulk carriers, which transport commodities such as iron ore, coal, and food; liquid bulk carriers such as tankers that ship crude ...
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