Port Report: Sourcing shifts for U.S. imports boosting Southeast Ports
The trade war with China is forcing U.S. Shippers to look for new sources of low-cost consumer goods. Southeast seaports are benefitting from those switches as shippers opt for lower cost and more accessible gateways.
The value of China’s exports to the U.S. are down 12.3 percent through the first half of 2019 to $219 billion. The drop stems from President Donald Trump’s escalation of tariffs against China with another 10 percent tariff slated to take effect this coming September 1 and December 15 on $300 billion worth of imports coming from China.Read more
Port of Virginia’s massive expansion project is done, but not everyone is happy
After about two years, the Port of Virginia has finally been able to put a bow on one of its major expansion projects.
Virginia International Gateway, one of the two main terminals, is now 800 feet longer. It can accommodate three ultra-large container ships at once and features more than a dozen new stacking yards to pack in more containers to be whisked away by truck or by rail. (more…)Read more