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Released January 08, 2021 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)-- Some of the largest container ports in the U.S. have seen a resurgence of trade as more Americans continue to stay home during the COVID-19 pandemic and purchase goods. Industrial Info is tracking 67 high- and medium-probability (70-99% chance of kicking off as planned) U.S. marine cargo handling projects, worth $9.28 billion, that are planned to kick off construction this year.
Click on the image at right for a graph showing U.S. marine cargo handling high- and medium-probability project kickoff activity in 2021, by market region.
Trade data from the U.S. Census Bureau highlights an economic bounce-back, with the value of international imports of goods increasing since March, when imports totaled $191.9 billion. For August, the value jumped to $201.3 billion, $6 billion more than in July. And for November, that amount increased to $212.0 billion, $5.5 billion more than October.
At the outset of the pandemic, sagging consumer demand dragged down U.S. container port activity. Port Houston, for example, handled 248,240 twenty-foot-equivalent units (TEUs) in March, which was an 11% drop from 2019. For more information, see April 24, 2020, article - U.S. Cargo Handling Projects Continue Despite Decrease in Imports, Consumer Demand.
However, even as some states face a striking increase in COVID-19 cases and hospitalizations, major container ports reported strong volumes for November, with many facilities seeing more activity than the year prior. The Port of Los Angeles, the country's busiest facility, processed 889,746 TEUs during the month, or a 22% increase compared with November 2019. Its neighbor, the Port of Long Beach, saw a 30.6% increase over the containers moved in the year prior.
But increased demand for goods is causing a bottleneck for cargo ships along the West Coast. As of January 6, 30 vessels were anchored off the coast of Los Angeles, according to NPR. Some shipments account for factories in China that temporarily closed early in the pandemic, but the increased activity is largely driven by consumers buying more things as opposed to spending money on travel or entertainment.
"Unloading a cargo vessel right now might take twice as long as usual, and getting the cargo to its destination might take longer still," Gene Seroka, executive director of the Port of Los Angeles, told NPR.
Along the Gulf Coast, Port Houston saw a 7% increase in TEUs for November from the year prior. Meanwhile, Georgia Ports Authority reported moving 464,805 containers at its Port of Savannah, a 28% year-over-year increase from 2019.
Georgia Ports Authority accounts for the two highest-dollar marine cargo handling projects that are planned to kick off this year, totaling $4.3 billion: the port operator's $2.5 billion expansion of the Garden City Terminal at its Port of Savannah is expected to kick off in April and will increase the port's container cargo capacity by 45% by 2028. Completion is scheduled for December 2028. Meanwhile, its $1.8 billion grassroot container port on Hutchinson Island in Savannah will feature a capacity of 2.5 million to 3 million TEUs. Kickoff is targeted for December 2021, with completion in December 2026. For more information, see Industrial Info's reports on the Garden City Terminal and Hutchinson Island projects.
Port Houston's Wharf 6 expansion at the Seabrook Bayport Terminal in Seabrook, Texas, which will add 1,000 feet of berth, is expected to kick off in February; completion is planned for September. Meanwhile, the rehabilitation of container yard 3 North at the Barbours Cut Terminal in La Porte will kick off in March. Completion is expected in December. For more information, see Industrial Info's reports on the Seabrook and Barbours Cut projects.
The Port of Long Beach is planning wharf upgrades at Pier G at its Long Beach marine cargo facilities that will allow two berths to have a container capacity of 14,000 TEUs. Kickoff is expected in February, and completion is planned for June 2022. For more information, see Industrial Info's project report.
In the New England region, Connecticut Port Authority is looking toward the March kickoff of an estimated $157 million upgrade to its State Pier complex in New London, Connecticut, in order to meet facility requirements for the offshore wind industry and increase its capacity for heavy-lift cargo. For more information, see Industrial Info's project report.
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.
Click on the image at right for a graph showing U.S. marine cargo handling high- and medium-probability project kickoff activity in 2021, by market region.Trade data from the U.S. Census Bureau highlights an economic bounce-back, with the value of international imports of goods increasing since March, when imports totaled $191.9 billion. For August, the value jumped to $201.3 billion, $6 billion more than in July. And for November, that amount increased to $212.0 billion, $5.5 billion more than October.
At the outset of the pandemic, sagging consumer demand dragged down U.S. container port activity. Port Houston, for example, handled 248,240 twenty-foot-equivalent units (TEUs) in March, which was an 11% drop from 2019. For more information, see April 24, 2020, article - U.S. Cargo Handling Projects Continue Despite Decrease in Imports, Consumer Demand.
However, even as some states face a striking increase in COVID-19 cases and hospitalizations, major container ports reported strong volumes for November, with many facilities seeing more activity than the year prior. The Port of Los Angeles, the country's busiest facility, processed 889,746 TEUs during the month, or a 22% increase compared with November 2019. Its neighbor, the Port of Long Beach, saw a 30.6% increase over the containers moved in the year prior.
But increased demand for goods is causing a bottleneck for cargo ships along the West Coast. As of January 6, 30 vessels were anchored off the coast of Los Angeles, according to NPR. Some shipments account for factories in China that temporarily closed early in the pandemic, but the increased activity is largely driven by consumers buying more things as opposed to spending money on travel or entertainment.
"Unloading a cargo vessel right now might take twice as long as usual, and getting the cargo to its destination might take longer still," Gene Seroka, executive director of the Port of Los Angeles, told NPR.
Along the Gulf Coast, Port Houston saw a 7% increase in TEUs for November from the year prior. Meanwhile, Georgia Ports Authority reported moving 464,805 containers at its Port of Savannah, a 28% year-over-year increase from 2019.
Georgia Ports Authority accounts for the two highest-dollar marine cargo handling projects that are planned to kick off this year, totaling $4.3 billion: the port operator's $2.5 billion expansion of the Garden City Terminal at its Port of Savannah is expected to kick off in April and will increase the port's container cargo capacity by 45% by 2028. Completion is scheduled for December 2028. Meanwhile, its $1.8 billion grassroot container port on Hutchinson Island in Savannah will feature a capacity of 2.5 million to 3 million TEUs. Kickoff is targeted for December 2021, with completion in December 2026. For more information, see Industrial Info's reports on the Garden City Terminal and Hutchinson Island projects.
Port Houston's Wharf 6 expansion at the Seabrook Bayport Terminal in Seabrook, Texas, which will add 1,000 feet of berth, is expected to kick off in February; completion is planned for September. Meanwhile, the rehabilitation of container yard 3 North at the Barbours Cut Terminal in La Porte will kick off in March. Completion is expected in December. For more information, see Industrial Info's reports on the Seabrook and Barbours Cut projects.
The Port of Long Beach is planning wharf upgrades at Pier G at its Long Beach marine cargo facilities that will allow two berths to have a container capacity of 14,000 TEUs. Kickoff is expected in February, and completion is planned for June 2022. For more information, see Industrial Info's project report.
In the New England region, Connecticut Port Authority is looking toward the March kickoff of an estimated $157 million upgrade to its State Pier complex in New London, Connecticut, in order to meet facility requirements for the offshore wind industry and increase its capacity for heavy-lift cargo. For more information, see Industrial Info's project report.
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.
