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The Port of Philadelphia’s expansion will enhance the regional industrial market

Increasing imports and exports coming through the City of Philadelphia has caused the PhilaPort to make significant improvements. These improvements will better position the Port against competitors such as the Port of Newark-Elizabeth and Port of Baltimore. In addition to meeting growing TEU (20-foot equivalent unit, a measure of cargo capacity) volumes, the Port’s expansion and improvements will support the growing momentum of the surrounding industrial market. 

The PhilaPort will soon be a Tier 1 facility in the global supply chain and will allow Super Post-Panamax container ships with 14,500 TEU capacity to enter the Port. Having the capacity for ships with a larger TEU count is critical for the growth of the PhilaPort as it transitions from heavy breakbulk operations to containerization.

Through March, TEU volume through the PhilaPort was up 22.3 percent compared to 2016, which was already a record year. After improvements are completed, the PhilaPort is expected to have the capacity to handle 900,000 TEU per year, nearly double the TEU volume of 2016.

Source: JLL Research

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