PHILADELPHIA, PA—Dramatic port capacity expansion in Asian countries is outstripping the capabilities of North American ports to accommodate the increases in shipping, transportation consultant John Vickerman told members of the Philadelphia CREW Chapter last night.
These issues have important implications for how smaller US ports like Philadelphia should position themselves, and how industrial properties are developed, say Vickerman and Bill Hankowsky, chairman,president and CEO of Liberty Property Trust, a major developer of industrial properties, who was also on the panel.
Efforts to increase capacities at the Panama and Suez Canals also will fall short, says Vickerman, who notes that Asian shipbuilders are already planning ships capable of carrying 22,000 TEUs (20-foot container equivalent units), while the canals can barely accommodate ships of 12,000 TEUs. The Maersk cargo line already has an 18,000 TEU vessel that is 1.5 times larger than what the new Panama Canal can accommodate.
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