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The Port of Baltimore is located in Maryland’s Chesapeake Bay, and is considered the deepest harbor in the area. This port, closer to the Midwest than all other East Coast ports, was ranked first in the nation in 2020 for handling automobiles, light trucks, farm, and construction machinery, and lastly imported gypsum. It also ranked second in the country for exporting coal.
Recently, plans for expansion were under development to expand port operations. Mediterranean Shipping Co’s (MSC) subsidiary, Terminal Investment Limited will be pairing up with Tradepoint Atlantic to “jointly invest” in building a 165-acre container terminal at the location Sparrows Point, Maryland. Besides the terminal location, an on-dock rail facility will also be constructed nearby at the Coke Point site.
What is the goal of this terminal?
A partner, Terminal Investment Limited (TIL) was recently cited as saying the new terminal “will dramatically enhance and support the long-term growth of the local port and the state of Maryland.” With East Coast ports under a surge of volume, the expansion of Baltimore could help the flow of goods at a time that is certainly needed. “Today’s announcement means that not only Baltimore and Maryland remain competitive with other major East Coast ports for years to come, but that we will gain a substantial advantage over them,” says Kerry Doyle, Director of Tradepoint Atlantic. With operations expected to increase 50%, the Port of Baltimore could see its annual capacity up to 1.2 million TEUs.
While joint statements about the partnership have been announced on October 25th, 2022, the amount of investment needed and the expected start date for the projects have not yet been disclosed.