2017 will bring significant changes, but two stand out, and both present significant opportunities. The first change is with a new US administration and a new Congress. Ports will have the opportunity to demonstrate the critical role they play in local and regional economies. Ports provide well-paying blue-collar jobs that are essential to sustaining and growing a diversified and healthy economy. The Port of Boston is one of the largest employers in the city, with more than 7,000 jobs.
Modernizing our nation’s port facilities, both waterside and landside infrastructure, is key to maintaining our ports as vital economic engines that support local businesses, provide good jobs, and help revitalize communities. Last year, we saw increasing support for port investment through the FASTLANE grant program. I believe supporting ports aligns with the stated priority for infrastructure investment by both parties, and I hope to see the level of funding for ports increase in the coming year.
The second major change involves the consolidation and shifting alliances in the container shipping industry. Again, opportunities will be created. The new alliances are bringing larger vessels with more cargo per ship call. While much of the attention has focused on larger ports, going forward, I see growth opportunities for regional ports. Niche ports that are customer-focused and provide cost-effective and efficient gateways for importing and exporting cargo will be key to keeping freight moving and getting goods into the hands of consumers. I expect that carriers and shippers will look closely at opportunities in niche ports and will see some of the advantages they provide in terms of reliability, service, costs, and lack of congestion.
Change is in the air, but with a focus on the economic benefits ports provide and a fresh look at niche ports, our industry can continue to provide good blue-collar jobs, support local business growth, and strengthen America’s freight system.