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Released April 24, 2020 | Sugar Land
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Researched by Industrial Info Resources (Sugar Land, Texas)--The COVID-19 pandemic continues to batter the U.S. economy, especially across the Industrial Manufacturing Industry. The virus has disrupted U.S. imports and consumer demand; however, marine cargo-handling projects continue to move forward as scheduled. Industrial Info is tracking 64 cargo projects, worth a total of $5.35 billion, at U.S. ports that are under construction or undergoing maintenance.
Manufacturing facilities in China are getting back to work, but consumer demand in the U.S. continues to be impacted by COVID-19. As a result, U.S. imports have decreased amid closures across the service and manufacturing industries, leaving port terminals with empty containers. The Global Port Tracker, which measures container activity for premier ports off the West and East coasts, as well as Port Houston, forecast 1.44 million twenty-foot-equivalent units (TEUs) for April, down 17.6% year-over-year. May doesn't get any brighter with an estimate of 1.48 million TEUs, a 20.1% decrease year-over-year. Meanwhile, the latest data from The Port Import/Export Reporting Service (PIERS) shows the U.S. container trade has contracted by more than 5% year-to-date.
Click on the image at right for a graph showing project activity for under-construction or maintenance U.S. marine cargo handling projects, by market region.
Port Houston--the largest container port on the U.S. Gulf Coast--saw its container activity decline beginning in late March, as the COVID-19 pandemic became more widespread. The port handled 248,280 TEUs in March, which is a 11% drop from the prior year, according to an April 7 press release. But despite the decline in activity, the port remains open to assist with international commerce during the pandemic, according to Port Houston Executive Director Roger Guenther.
"We also must support the economy with the necessary infrastructure to rebound when this global pandemic is brought under control," Guenther said.
That statement bodes well for active cargo-handling projects under construction at ports across the country. Industrial Info is tracking three projects at Port Houston's Barbours Cut Terminal, one of the Gulf of Mexico's foremost cargo-handling facilities:
Not to be outdone, the U.S. West Coast features the Port of Seattle's $160 million berth modernization at its Terminal 5, which is on track for completion in July. The project involves dredging to 58 feet in order to handle larger container ships and increase the terminal's capacity. California is expected to see a Phase III container/intermodal rail yard upgrade at the Port of Long Beach, which is set for completion in November. And the Port of Los Angeles in January kicked off a $38 million terminal upgrade of 10 port berths, to expand operations at its port in San Pedro; project completion is scheduled for December. For more information, see Industrial Info's reports on the Seattle, Long Beach and San Pedro projects.
The Mid-Atlantic region accounts for the third-highest spend, led by South Carolina State Port Authority's $310 million brownfield container terminal in Charleston; completion is scheduled for June 2021. But the New England region is not to be forgotten: Massachusetts Port Authority's $130 million Phase II navigation improvement dredging at Boston Harbor, which will allow the harbor to accommodate larger vessels and increase the port's operational capacity, is scheduled to conclude in October 2021. For more information, see Industrial Info's reports on the Charleston and Boston Harbor projects.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Manufacturing facilities in China are getting back to work, but consumer demand in the U.S. continues to be impacted by COVID-19. As a result, U.S. imports have decreased amid closures across the service and manufacturing industries, leaving port terminals with empty containers. The Global Port Tracker, which measures container activity for premier ports off the West and East coasts, as well as Port Houston, forecast 1.44 million twenty-foot-equivalent units (TEUs) for April, down 17.6% year-over-year. May doesn't get any brighter with an estimate of 1.48 million TEUs, a 20.1% decrease year-over-year. Meanwhile, the latest data from The Port Import/Export Reporting Service (PIERS) shows the U.S. container trade has contracted by more than 5% year-to-date.
Click on the image at right for a graph showing project activity for under-construction or maintenance U.S. marine cargo handling projects, by market region.Port Houston--the largest container port on the U.S. Gulf Coast--saw its container activity decline beginning in late March, as the COVID-19 pandemic became more widespread. The port handled 248,280 TEUs in March, which is a 11% drop from the prior year, according to an April 7 press release. But despite the decline in activity, the port remains open to assist with international commerce during the pandemic, according to Port Houston Executive Director Roger Guenther.
"We also must support the economy with the necessary infrastructure to rebound when this global pandemic is brought under control," Guenther said.
That statement bodes well for active cargo-handling projects under construction at ports across the country. Industrial Info is tracking three projects at Port Houston's Barbours Cut Terminal, one of the Gulf of Mexico's foremost cargo-handling facilities:
- a $39.7 million expansion of gate facilities, to be completed in April 2021; see project report
- a $30 million rehabilitation of Wharf 3; see project report
- a $25 million expansion of container yards 1 and 2 North, set for completion in September; see project report
Not to be outdone, the U.S. West Coast features the Port of Seattle's $160 million berth modernization at its Terminal 5, which is on track for completion in July. The project involves dredging to 58 feet in order to handle larger container ships and increase the terminal's capacity. California is expected to see a Phase III container/intermodal rail yard upgrade at the Port of Long Beach, which is set for completion in November. And the Port of Los Angeles in January kicked off a $38 million terminal upgrade of 10 port berths, to expand operations at its port in San Pedro; project completion is scheduled for December. For more information, see Industrial Info's reports on the Seattle, Long Beach and San Pedro projects.
The Mid-Atlantic region accounts for the third-highest spend, led by South Carolina State Port Authority's $310 million brownfield container terminal in Charleston; completion is scheduled for June 2021. But the New England region is not to be forgotten: Massachusetts Port Authority's $130 million Phase II navigation improvement dredging at Boston Harbor, which will allow the harbor to accommodate larger vessels and increase the port's operational capacity, is scheduled to conclude in October 2021. For more information, see Industrial Info's reports on the Charleston and Boston Harbor projects.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
