Total container volume at the Northwest Seaport Alliance (NWSA) decreased 13.6% to 272,129 TEUs in October, with full imports and exports declining 22.5% and 28.2%, respectively.
Additionally, January to October volumes declined 8% to 2,905,183 TEUs, with full imports and exports declining 12.5% and 22.4%, respectively.
According to NWSA, a partnership of the ports of Seattle and Tacoma, exporters continue to face headwinds from a strong dollar, ongoing tariffs in key markets, and lower vessel capacity from voided sailings.
NWSA is about to receive a Port Infrastructure Development Program (PIDP) grant for improvements to Terminal 5 in the Seattle Harbor. The project includes the construction of a new truck gate complex and the construction of a cargo container storage yard.
Phase Two of the Terminal 5 Modernization Program is underway with operations in the south berth expected to begin in 2024. At full buildout, Terminal 5 will boast 750,000 m² and an estimated 1.2 million TEUs of container-handling capacity.
