The U.S. flag fleet consists of: Great Lakes with 737 vessels at 62 billion ton-miles, inland with 33,668 vessels at 294 billion ton-miles, ocean with 7,014 vessels at 350 billion ton-miles, recreational with 12.3 million boats, and cruise ship with 122 boats serving North American ports (5.4 million passengers). The total annual direct cost of corrosion to the U.S. shipping industry is estimated at $2.7 billion. This cost is divided into costs associated with new ship construction ($1.1 billion), with maintenance and repairs ($0.8 billion), and with corrosion-related downtime ($0.8 billion).The annual corrosion-related costs of the U.S. marine shipping industry is estimated at $2.7 billion. This cost is divided into costs associated with new construction ($1.12 billion), with maintenance and repairs ($810 million), and with corrosion-related downtime ($785 million). Most ships that serve U.S. ports do not sail under U.S. flag, but under that of nations with less restrictive laws and taxation; therefore, it is difficult to estimate the national cost of corrosion for this sector. Furthermore, the shipping industry is very diversified in terms of size, cost, and cargo. Finally, the shipping industry is primarily a commodity industry where short-term profits are often more important than long-term savings on assets.