Though the $5.25 billion Panama Canal expansion will not be complete until 2016, ports on the East and Gulf Coasts are deepening harbors and raising bridges to accommodate the new ships. Meanwhile, industrial real estate professionals are watching carefully for signs of the canal’s impact on demand for logistics space. That, in turn, could be influenced by a shift in the volume handled by U.S. ports. Some experts believe that East Coast ports could siphon some business from West Coast competitors, particularly the Ports of Los Angeles and Long Beach.
To provide context for this possible power shift, the tables below rank U.S. ports in two categories: volume as measured by weight and value of trade. For CPE’s special report on how the Panama Canal expansion could change the industrial real estate market, please on the link below.
Source: U.S. Census Bureau, American Association of Port Authorities