While the coming year is expected to bring continued uncertainty and volatility for the maritime industry, there will also be significant opportunities for those carriers and shippers that choose to rethink their supply chains and seek out new solutions to lower their costs to serve new and expanding markets. The rapid growth of ecommerce is the most recent example of this trend as retailers realign their supply chains, shaking up the status quo and long-established ways of doing business.
Ports that are closest to large and growing markets are emerging as more efficient gateways offering substantial savings in inland distribution costs versus more distant and congested traditional routes. These large mega-markets generate cargo growth across a wide mix of commodities, including retail and consumer products, food and beverage, construction/building materials, and energy products, driving demand for containerized, breakbulk, bulk, and ro-ro business opportunities.
The US Gulf and Southeast is experiencing strong growth in population and economic activity, particularly Florida, which has surpassed New York as the third-largest state, fueled by growth in the I-4 Corridor. This region has emerged as the state’s largest and fastest-growing market, and home to the largest concentration of distribution centers in the state as retailers position their DCs as close as possible to their customers, minimizing delivery times and costs.