By Journal Staff, April 8, 2013, Puget Sound Business Journal
The Port of Seattle is currently only one of seven U.S. ports that will be ready to handle the massive new ships that will be utilizing the upgraded Panama Canal in 2015.
According to a report by Colliers International of Seattle, the Port of Seattle was commended for spending on its capital infrastructure, even though the volume of its container traffic dropped in 2012.
In 2012, only the ports of New York, Seattle and Portland experienced less TEU (twenty-foot equivaelent) container traffic in 2012 than in 2011. Seattle’s decrease was attributed party to increasing competition from Port Prince Rupert in British Columbia.
Although the Port of Seattle is ready for the larger ships in 2015, many U.S. ports aren’t.
“The nation’s most respected professional and governmental engineering entities are warning us that infrastructure spending on our port linkages are woefully inadequate — to the tune of approximately $500 billion per year between now and 2020,” according to the Colliers report.