US southern ports enjoy boom year after Panama Canal expands
Time: 2017-06-20 13:39
SOUTHERN US ports are enjoying record boom due to the expanded Panama Canal that allows bigger ships to call from Asia, reports Bloomberg.
In the past, ports on the west coast, which include the nation's largest by volume, typically handled such ships.
Georgia Ports Authority and the Port of Virginia, up 10 per cent year on year, the fourth and fifth largest US ports moved more cargo than ever in May.
South Carolina Ports Authority, which includes Charleston, had its best ever month in March and overall volume from last July through May is up 9.4 per cent compared to the previous July to May period.
The expansion also coincided with a population boom that has made the south home to 10 of the 15 fastest growing cities, according to the US Census Bureau, meaning there is a growing market for goods being imported.
At the same time, manufacturing growth throughout the south means shipping lines also can pick up American exports to ship abroad.
In the past, ports on the west coast, which include the nation's largest by volume, typically handled such ships.
Georgia Ports Authority and the Port of Virginia, up 10 per cent year on year, the fourth and fifth largest US ports moved more cargo than ever in May.
South Carolina Ports Authority, which includes Charleston, had its best ever month in March and overall volume from last July through May is up 9.4 per cent compared to the previous July to May period.
The expansion also coincided with a population boom that has made the south home to 10 of the 15 fastest growing cities, according to the US Census Bureau, meaning there is a growing market for goods being imported.
At the same time, manufacturing growth throughout the south means shipping lines also can pick up American exports to ship abroad.
