East Coast Ports
Although many U.S. East Coast ports are scrambling to deepen their harbors and expand infrastructure to handle the much-bigger ships from the Far East that will start calling after the Panama Canal opens its new locks, the ports are already handling the post-Panamax ships that are coming from India, Southeast Asia, and the Middle East via the Suez Canal. Call it a rehearsal for the 2015 opening night.
Baltimore and Norfolk, which already have the 50 feet of water needed to accommodate the big ships, are sitting pretty, but they are not resting on their laurels. Norfolk is adding new train services, and Baltimore plans a new double-stack intermodal rail terminal. Five other ports, including Charleston, Jacksonville, Miami, New York/New Jersey and Savannah, got a leg up when the Obama Administration fast-tracked the federal approval process for their deepening and expansion projects, which could pave the way for some of them to finish by 2015.
Although Asian cargo now provides the majority of the throughput at many ports, the trans-Atlantic trade with Europe, like the Energizer Bunny, just keeps going and going, underpinning those ports’ business.
East Coast ports maintained their lead in containerized exports in the first nine months of 2012 and increased their share of import and export markets.