Port of Seattle Breaks Cargo Handling Record

The Port of Seattle today broke its previous annual record for cargo containers moving across its docks. Established in 1998, the record was 1.54 million TEUs (twenty-foot equivalent units).

"Breaking the record for container cargo is great news," said Port of Seattle Commission President Paige Miller. "And we still have more than a month to go. It means that the Commission made the right decision to invest in our marine facilities over the past decade. Without those investments we would not be ready to handle this increase in cargo and provide the jobs and economic benefits it brings to our region."

An economic impact study issued in September showed that Seattle's Seaport generates 34,500 jobs, $2.13 billion in payroll, $2.39 billion in business revenue, $431 million in local spending and $211 million in state and local taxes.

"We've invested close to $1 billion in our container terminals, waterways and inland transportation projects over the past dozen years," said Port of Seattle CEO M. R. Dinsmore. "Our facilities and larger, more efficient and well equipped to handle our customers needs now and into the future."

The Port's October container volume reached 192,131 TEUs, beating the previous monthly record - which was set in September - by 30,511 TEUs. The October figure is 42 percent higher than the same month last year and the highest monthly container volume ever handled at a Pacific Northwest port. Year-to-date the Port's volume is up 14.2 percent. The year-end figure is projected at 1.72 million TEUs.

The growth in cargo is driven largely by trade with China, which became the Port of Seattle's largest trading partner by container volume, tonnage and dollar value in 2003. Import distribution centers operated by major importers such as Target, Wal Mart and Home Deport also have opened in the Puget Sound region in recent years, aiding cargo growth.