As I sit in my office and peer out at the beautiful Ohio River in Cincinnati, I cannot help but notice the dearth of overnight passenger vessels, excursion vessels (including our own), and commercial towing vessels. The lingering economic downturn is having a visible effect on marine transportation of all types, including pleasure boats.
Let's look at several industry segments:
Overnight Passenger Vessels: Sadly, 2009 marked the disappearance of overnight passenger service on the Western Rivers system. This proud industry, which had a rich history spanning 200 years, literally vanished before our eyes. The Delta Queen vessels are gone. RiverBarge Excursion Lines is gone. Personally, I miss seeing those big boats ply the waters of our inland rivers. They conjured up memories of times gone by and constantly reminded me of our rich maritime heritage.
Excursion Vessels: The weak economy has also affected the excursion boat market. Schedules have been trimmed, shortened and eliminated (including our own at BB Riverboats). There are several reasons for this. First, corporate business is way down. Second, consumers are not spending as much on outside entertainment. Third, many people are simply out of work and can't afford to take a cruise. However, being an optimist, I believe people want to relax and enjoy themselves, and being out on the water is by far one of the best ways to do that. So I am holding out hope that this segment of our market will strengthen.
Commercial Towing Vessels: I am not a barge company owner, but I think the barge industry is also suffering during these trying economic times. As I mentioned, my office faces the Ohio River and I get to see many of the towboats that pass Cincinnati. I don't have any hard statistics at my fingertips, but I believe that inland waterways barge traffic is also significantly down. I remember just a few years ago when barge tows were literally passing by my office window one after the other.
The so-called "experts" say the economy is getting better. However, I am not yet seeing it here on the Ohio. But I am an optimist. I believe the economy will get better and those of us who make a living on the river will see better times. But it better come soon, for the sake of our entire industry.