The economic conditions of the past two years have given us a timely, albeit stark, opportunity for self-examination and perspective as we plot strategies to best take advantage of a changing global economy. Our actions today will better prepare us for tomorrow’s challenges and opportunities.
Seaports can’t rely on static criteria to solidify their positions in the marketplace. The advantages inherent to good geography and population density may provide a basis for local cargo density and future economic stability, but seaports must be prepared to do more to provide the economic prosperity their regions have come to depend on them to deliver.
Carriers go where cargo demands. Beneficial cargo owners go where their goods will reach the most customers efficiently, expeditiously and cost effectively.
Addressing capital project needs are paramount to future success. As ships get larger and the supply chain tightens, the need for deep water combined with modern and efficient terminals surrounded by extensive warehousing and distribution center capacity becomes even more critical.
Strong intermodal capability – supported by solid infrastructure – as well as technology that ensures faster turnaround times and freight rail capacity to heartland distribution hubs are other essentials.
Marketing messages must be more strategic and practical than promotional. We need to be prepared to not only extol our virtues to customers, but also be able to educate the customer on how our facilities fit into an even larger supply chain that ensures the optimal delivery lanes for their cargo.
Some challenges are more difficult than others and will take longer to overcome. But we must prioritize now, not on the basis of the ease of execution but on how to best serve the customer while optimizing future returns on investment.