Business, Freight News, Sea

Economist Expect Ports Industry to Grow in 2016

[ April 5, 2016   //   ]

Supply chain experts expect cargo should continue to grow through 2016 even though uncertainty remains as the economy and industry continue to evolve.
seven speakers from all segments of the supply chain offered their thoughts on megaships, congestion, cargo volumes and the future of the transportation industry a the “Pulse of the Ports Peak Season Forecast” held on March 30 in Long Beach, CA.

Each spring, the Port of Long Beach brings supply chain industry leaders together to discuss their forecasts for the year ahead. The event helps to provide fellow industry members with the information they need to plan.
One of the panelists, Senior Economist Mario Moreno, IHS Maritime & Trade, stated that containerized imports from Asia will grow at about 5.5% in 2016. He also stated that the overall U.S. economy would grow by about 2.3%.

“The uneven global economy, strong U.S. dollar, opening of the Panama Canal and the introduction of megasized container vessels to U.S. ports has created dynamic conditions for the maritime industry that will continue to play out over the next two years,” said Jon Slangerup, Port of Long Beach CEO. “At Long Beach, we will continue to host gatherings like the Pulse of the Port to stay in tune with our customers and industry partners as we invest in our Green Port of the Future.”