Shipping volumes increase at U.S. seaports
Industrial properties are an important link in the global supply chain. Many warehouse/distribution markets are dependent on the strength of local shipping business. The health of seaports on the West and East coasts are, therefore, vital to the continued success of the industrial sector in the United States.
A new report from Colliers International, U.S. Seaport Outlook, examines U.S. seaports and their current shipping volumes. A strengthening U.S. economy should support trade volumes at ports on both coasts. In addition, the expansion of the Panama Canal, which can accommodate larger ships, has meant ports on the East Coast also need to expand to accommodate those ships. Industrial markets are seeing similar levels of demand on both sides of the country, says James Breeze, national director of industrial research at Colliers International.
“In terms of demand, we are seeing equal amounts along both coasts, with 30 percent of the total U.S. net absorption