Strong April Trade Volumes Keep Port of Seattle on Growth Track

WPPA Forecast calls for container volume to double by 2025

The Port of Seattle's container volumes for the month of April were 17.4 percent higher than April 2003, led by a whopping 23 percent increase in full inbound containers. Year-to-date the Port's overall container volume is up four percent.

"While our container volumes have been up and down this year, April's year-to-date performance puts the Port of Seattle right in line with the Washington Public Ports Association's new cargo forecast projections," said Mark Knudsen, Deputy Managing Director of Seattle's Seaport.

The Washington Public Ports Association (WPPA) released its 2004 Marine Cargo Forecast last week at its Spring Meeting in Vancouver, Washington. The Marine Cargo Forecast has been updated and issued by WPPA about every five years since 1980.

"The strong increase in full inbound containers in April is an indication of an improving regional and national economy," Knudsen added. "It also shows that the investments we've made and continue to make in our maritime infrastructure are paying off."

Full inbound containers are loaded with cargoes imported from U.S. trading partners. The Port also receives and ships empty containers that are being repositioned in order to be re-packed with cargo.

Since the mid-1990's the Port of Seattle has invested more than $600 million to expand container handling facilities at Terminal 5 and Terminal 18. Both terminals now have dockside intermodal rail yards and dedicated truck overpasses that keep freight on the move. A $71 million expansion of Terminal 46 will be complete this fall.

"With the investments we've made we're well prepared for the growth," Knudsen said. "But we need to keep expanding our road, rail and maritime infrastructure if we want to stay ahead of the curve."

The WPPA forecast projects an annualized growth rate of 4.6 percent for international containers at Puget Sound ports, contrasted with a 1.7 percent annualized growth rate for domestic containers through 2025. More than 97 percent of the Port of Seattle's container volume is in international cargo.

At that rate of growth, Puget Sound ports will handle an estimated 6.9 million 20-foot equivalent units (TEUs) by 2025, more than double the 3.23 million TEUs the ports moved in 2003.

"All signs point to continued economic recovery. Shippers, railroads and shipping lines are all optimistic about strong cargo growth in Washington. That's good news for our state and our region," said WPPA President and Port of Seattle Commissioner Bob Edwards. "But we need to keep investing the transportation infrastructure that makes us an international gateway and creates thousands of good jobs throughout the Pacific Northwest."

Edwards noted that continued investment in the rail networks serving Puget Sound's ports is needed and echoed the forecast's call for local and state governments to work together to ensure that the proper investments are made.