Ports are undertaking massive capital investments to remain competitive once international trade rebounds, JLL states in its Ports, Airports and Global Infrastructure report. In the meantime, supply is outpacing demand in many markets and weak global trade flows have destabilized US port growth, the report states.

"Despite the global economic downturn, many US ports are investing billions of dollars to position themselves for future strategic growth," says Craig Meyer, managing director and head of JLL's industrial practice. Over the past 15 years, he notes, globalization and technology have revolutionized the way goods are transported around the planet.

The PAGI report describes the $5.3-billion expansion of the Panama Canal, which will allow larger ships to pass through its locks. Bigger cargo shipments will be able to reach the East Coast more easily and economically, sparking competition among emerging ports as they vie for a permanent share of waterborne container traffic from the Pacific Ocean, the report says.