Annual Review & Outlook 2025 Maritime

Capital upgrades ready USEC ports for another year of growth

US East Coast ports handled a nearly 10 % jump in imports through November with minimal congestion . ambient _ pix / Shutterstock . com

By Michael Angell

The big picture : US East Coast ports remained largely fluid throughout 2024 , even as container volumes exceeded expectations and crises including a multi-week closure in Baltimore and a three-day coastwide strike impacted operations . The ability to withstand the various shocks , along with ongoing capital upgrades , suggests ports are prepared to handle tariff-related cargo surges that may occur in 2025 .

A look back : Strong consumer spending and frontloading amid concerns over the deadline for a new longshore labor agreement drove import volumes through US East Coast ports higher than expected in 2024 . The Port Authority of New York and New Jersey , for example , saw imports shoot up 14.1 % through November , a significant acceleration from the 3 % growth it had forecast for the year . New York-New Jersey ’ s inbound volumes were also boosted by the diversion of containerized cargo from the Port of Baltimore during its second-quarter closure following the collapse of the Francis Scott Key Bridge . Total import volumes through the US East Coast rose 9.5 % year over year in the first 11 months of 2024 , the fastest growth rate for a comparable period since 2021 , according to PIERS , a sister product of the Journal of Commerce within S & P Global . But from an operational perspective , the three-day strike by the International Longshoremen ’ s Association ( ILA ) in early October merely resulted in a temporary backup that was cleared within a week or two at most ports . Savannah and Charleston ports also dealt with episodic ship congestion during 2024 due to the high volumes and berth closures due to maintenance . to 55 feet in 2025 , allowing the port to handle ultra-large container ships . Charleston ’ s port also boosted its effective container capacity via a deal it struck with the ILA to fully utilize the Hugh K . Leatherman terminal . Services operated by Maersk , Mediterranean Shipping Co . and Zim are now calling at Leatherman . Rail capacity from Leatherman is also set to increase with the mid-2025 opening of the adjacent Navy Base Intermodal Facility , which will provide a more direct connection to South Carolina ’ s inland ports .

The next inflection : In addition to any vessel backlogs resulting from a second potential ILA strike on Jan . 15 , a major test for the East Coast marine terminals will be their ability to handle the revamped carrier networks debuting in 2025 . The Gemini Cooperation of Maersk and Hapag- Lloyd will be moving a large share of its volumes through APM Terminals ’ facility in the Port of New York and New Jersey . MSC and Zim , meanwhile , will shift their vessels away from APM to MSC ’ s jointly operated Port Newark Container Terminal .

email : michael . angell @ spglobal . com

US East Coast imports growing at fastest rate since 2021

Containerized imports through US East Coast , in laden TEUs , with yoy change

A look ahead : With the incoming Trump administration threatening to levy tariffs across all imported goods , East Coast ports could see another strong year in 2025 , but they should be well prepared to absorb extra volumes thanks to numerous capacity upgrades . CMA CGM ’ s primary marine terminal in New Jersey , for example , will open a new berth in 2025 , allowing the carrier to increase deployed capacity on services calling the busiest East Coast port . A total of six new cranes are in various stages of installation at New York- New Jersey marine terminals that will allow for the handling of larger ships in 2025 . Further south , the Port of Virginia completed a railyard expansion in 2024 that will increase intermodal capacity at its Norfolk marine terminal by 25 %. Virginia is also set to complete dredging its harbor down

TEU volume

Source : S & P Global

TEU Year-over-year % change

20 %

10 %

-30 0 %%

-10 %

-20 %

Year-over-year % change

-30%

© 2024 S & P Global www . joc . com January 6 , 2025 | Journal of Commerce 31