The Port of Seattle’s brand-new Terminal 5 already has major container ships coming in. The terminal is an outlet for ships stuck off of other west coast ports.
"This terminal brings much-needed capacity online to help mitigate the issues we’ve been having with the current supply chain congestion," said Northwest Seaport Alliance Director of Business Development Steve Balaski.
The price of global shipping is skyrocketing. Freightos Baltic Index reported that in 2020, it cost almost $1,300 to ship a 40-foot container. Now, the cost is almost $10,000. The Port of Seattle is seeing more requests from ships to unload goods.
"The demand that we saw prior to the pandemic was smaller than what we’re seeing now," said Port of Seattle Commissioner Steve Balaski. "We’re building out that capacity to accommodate that new level of demand."
Balaski told FOX News Terminal 5 already has orders to send goods to Ohio, Iowa, and North Dakota.
"This terminal can help connect these containers to all across the country," Balaski said.
Part of the problem at some ports is that there aren’t enough workers to do all the unloading and driving. But more business at Terminal 5 means more money. Calkins said the port can make jobs on the docks and in transportation more attractive.
"It’s a part of an ecosystem that provides 58,000 jobs in our region and $12 billion in economic impact," Calkins said.
https://www.foxbusiness.com/features/seattle-new-ship-terminal-unclogging-west-coast-supply-chain
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