Study: Sparrows Point Terminal to add US$1.54 b annually to Maryland economy
NewsThe economic impact study forecasts that the Sparrows Point Container Terminal will contribute US$1.54 billion annually to Maryland’s economy.
Baltimore to expand
The Maryland Port Administration has purchased a 70-acre property at the Point Breeze Business Center, behind the Seagirt Marine Terminal, which will be used to expand container storage.
Seagirt is operated by Ports America Chesapeake, and general manager Bayard Hogans welcomed the chance to expand the facility. “Ports America Chesapeake is extremely pleased about the additional acreage resulting from the recent purchase of the Point Breeze Business Center,” he said. “This land expansion will give Seagirt Marine Terminal the necessary capacity to maintain its operational productivity to accommodate the ultra-large container vessels and related increase in cargo volumes, which is an economic win for the region.”
With its “50ft draught berth” and four post-Panamax cranes, the Port Administration said Seagirt is one of only four terminals on the US East Coast that can accommodate “some of the largest ships in the world”, but, since the Panama Canal expansion opened, growth at Seagirt has lagged behind Virginia, Charleston, Savannah and New York/New Jersey. Container volumes were up by 3% in 2016 to 538,567 TEU. It was not until July 2016, however, that the port welcomed its first “large” ship through the expanded Panama Canal, and, since then, container volumes have risen by 7%.
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This complete item is approximately 300 words in length, and appeared in the July 2017 issue of WorldCargo News, on page 7. To access this issue download the PDF here.
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