Industry Analysis & Industry Trends
The Sea and Coastal Freight Water Transport industry has faced turbulent times in recent years with falling freight volumes, increased competition and higher operating costs. Despite these challenges, the industry has grown 1.6% per annum in the last five years and will be worth £5.17 billion in 2011-12, albeit after a decrease of 1.3% in the current year.
The fortunes of the industry are closely linked to that of petroleum extraction in the United Kingdom with the industry generating an estimated 75.8% of revenue from the transport of crude oil. Approximately one quarter of all shipping activity is classified as "one port" shipping, which means crude is transported directly from offshore site of production to harbours in Wales and Scotland for upstream refining... purchase to read more
Industry Report - Industry Locations Chapter
The distribution of industry establishments is heavily dominated by Scotland which generates more than half of the industry's revenue. This is not a surprise given Scotland's location and proximity to the oil fields in the North Sea. IBISWorld estimates that 98% of crude petroleum extraction in the United Kingdom is done in Scotland. The port of Forth alone handles 18% of the UK's crude oil, 12.2% of bulk fuel and 12.2% of liquefied gas. The ports of Sullom Voe and Cromarty and Firth are also in the top ten crude oil handling ports in the UK.
Other important regions include Wales and the North West and Northern Ireland. Wales like Scotland has by British standards an abundance of natural resources. This has promoted steady use of coast transport... purchase to read more