State of the Barge Industry 2019
The ‘word on the street’ is the barge industry has ticked up a bit in 2018. However, our initial review of available year-end data indicates the market is still suffering a lingering hangover due to continued industrywide excess capacity of both dry barges and tank barges. Combined with trade war and tariff concerns, industry consolidation, and historically low new build rates, the market is, at best, uncertain.
As the only industrial property tax consultant specializing in the inland marine transportation industry, including barges, shipyards, and marine terminals, we compile a comprehensive annual ‘State of the Industry’ report, using both public and proprietary data, to analyze multi-year trends, key drivers, and economic operating metrics across all industry segments.
This report provides valuable insight regarding market conditions, including freight rates, charter rates, product mix and volume per vessel, ton-miles per vessel, gross and operating revenue per vessel, new barge builds, and vessel sales data.
Our 2018 report was instrumental in helping our inland marine industry clients secure over $23,000,000 in property tax savings.
2018 year-end data is just now starting to trickle in and, while some markets are reporting improved 4th quarter results, the total year over year per vessel benchmarks are trending well below historical “high water marks”, indicating a documented basis for negotiating lower assessed values and securing savings in 2019.
For a complimentary copy of the executive summary section of our 2019 “State of the Industry” report (due out on April 1) send an email to email@example.com, connect with me on Linkedin, or contact me through our website www.industrialpts.com.