Tacoma gains in market share as downturn deepens

THE Port of Tacoma expects to report a decline in annual throughput for 2008, but has still managed to gain market share against its west coast rivals.

 

Evidence of this came in the latter half of the year, as Tacoma recorded a two per cent decline in throughput for the January to September period, while other west coast ports were down a collective eight per cent.

 

That represented to us, a significant gain in market share, Mr Timothy Farrell, the port’s executive director told us on a recent trip to China. 

 

The gain, in what Mr Farrell referred to as a growing share of a shrinking market came as carriers chose to reroute services, while BCO’s also opted for the port to avoid container fees, congestion and longer ocean transit times offered by ports in southern California.

 

Evidently, the Port of Tacoma, with its five dedicated container terminals, all with on-dock rail, has proven an attractive call for shippers looking to get their goods to market as quickly as possible.

 

Being so well connected to the country’s hinterland, Tacoma today is handling cargo destined for locations as far as the east coast of the US. 

 

As a testament to this, just 30 per cent of Tacoma’s international cargo is destined for the port’s immediate backyard, while 70 per cent is for destinations further inland.

 

It is this combination of well-developed connectivity and cost savings, which includes a zero tolerance policy on container fees, that Mr Farrell believes made the Port of Tacoma the choice of a growing number of shippers in 2008, and he expects the trend to continue this year.

 

Our advantages are really starting to show up more now, particularly during these hard times, he said.

Source: CSM