U.S. East Coast Port Projects Benefit from Jump in Container Traffic from East Asia
U.S. East Coast Port Projects Benefit from Jump in Container Traffic from East Asia
SUGAR LAND--August 31, 2016--Researched by Industrial Info Resources (Sugar Land, Texas)--U.S. containerized imports are expected to grow 5.3% in 2016 to reach a peak of 20.8 million twenty-foot equivalent units (TEUs), according to industry observers. By 2020, 10% of the container traffic arriving from East Asia will have shifted from U.S. West Coast ports to ports on the East Coast, according to reports by Boston Consulting Group (Boston, Massachusetts) and the supply-chain provider C.H. Robinson (NASDAQ: CHRW) (Eden Prairie, Minnesota), as cited by Building Design + Construction. The East Coast ports expect 29.1 million TEUs of traffic through terminals capable of handling 51.7 million TEUs by 2030. Industrial Info is tracking large East Coast port projects totaling $1.05 billion that are expected to start construction through next year.
Within this article: Describes New Jersey port expansion projects.
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