Sea & Coastal Freight Water Transport in Ireland - Industry Market Research Report

No smooth sailing: Revenue is dipping in 2023 as subdued activity downstream weakens demand

Irish sea freight operators provide a crucial link between Irish firms and the global economy. The industry is heavily reliant on international trade, with performance fluctuating in line with activity in downstream sectors, including manufacturing, retail and commodities. In recent years, sea freight operators have increasingly relied on freight services for multinational domiciled big pharma and chemicals businesses, which have fuelled freight volumes. Challenges have presented themselves in the form of oversupply in capacity due to a sharp increase in the number of vessels used by operators. This ultimately led to a decline in freight rates, weighing on industry revenue. Companies in this industry transport bulk and non-bulk freight on vessels designed for the open sea or coastal waters. The industry includes scheduled and unscheduled activities, towing barges, and oil rigs. The industry excludes freight storage, harbour operation and cargo handling. 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.