Our industry is experiencing the next chapter in our evolution as we are now handling the biggest ships in history and moving record-setting amounts of cargo. Since 2014, vessels calling at East Coast ports (including the Port of Virginia) have nearly doubled in size, from 8,000 TEU to 14,400 TEU. Based on this growth, the port community is preparing for 16,000-TEU to 18,000-TEU vessels in the next few years. The goal is always to move that cargo as safely, swiftly, and sustainably as possible. As a result, the leaders in our industry must engage in continual forecasting, data collection/analysis, and strategic planning process to prepare for what is to come.
Cargo will continue to flow where it is treated best. Therefore, investments in infrastructure on land and in the water are critical. To fully realize the benefits of these investments and maintain the national economic impact of our ports, strategic waterways where these ULCVs frequently call must be deepened and widened as soon as possible.
The sustainability of our industry is crucial to the viability of the US economy, so it is incumbent upon us to look ahead and prepare in order to keep our ports viable and competitive for the next generation. In that effort, those that will be in the best position for success are those that are planning for the next step up in vessel size, fine-tuning cargo conveyance systems and operations to provide even greater safety and efficiency, upgrading technology and operating systems, and using big data to identify trends and drive consistency in service delivery.
With an emphasis on safety and efficiency, we must continue to look at every aspect of our operation to ensure they are working in concert with the other pieces in the larger logistics and supply chain: motor carriers, rail carriers, labor partners, ocean carriers, and BCOs. This type of planning and preparation, we believe, will enable ports to act as catalysts for commerce for the country for decades to come.