Baltimore buys space
The Port of Baltimore has snapped up 14.6 acres of adjacent land for $5.25m in an acquisition designed to relieve pressure on the ports terminals.
In conversation with
Port Strategy,
the port authority said that there are currently 57,000 cars awaiting delivery.
JB Hanson of Maryland Port Administration explained that “the normal wait-time is around one to one and a half weeks but over the last few months it has been two to three weeks”. The extra time has caused the back up.
However, another factor may further complicate matters: car dealers are now also declaring themselves insolvent,and going out of business, so the cars due to go to them have now been effectively orphaned.
The land is from the parcel being developed as the Chesapeake Commerce Centre, an industrial park near the port, and is being seen as a long-term investment by the port authority.
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