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GT Podcast – Episode 131 – The Port Authority of NY & NJ – The Port Street Corridor Project

podcast cover art for GT Podcasts interview with Port NY&NJ

GT Podcast – Episode 131 – The Port Authority of NY & NJ – The Port Street Corridor Project

Episode 131 – The Port Street Corridor Project

In the latest episode of GT Podcasts Logistically Speaking, our host, Eric Kleinsorge, CEO and Publisher of Global Trade Magazine,

sits down with Charlie Bontempo and Patrick Thrasher from the Port Authority of New York & New Jersey to discuss the transformative Port Street Corridor Project. This ambitious initiative aims to revamp and expand the critical transportation infrastructure around the Port of New York and New Jersey, which is one of the busiest ports in the United States.

Charlie Bontempo and Patrick Thrasher offer in-depth insights into the project’s scope and objectives. They explain how the Port Street Corridor Project is designed to alleviate congestion, enhance the efficiency of cargo movement, and improve overall logistics within the port area. Key components of the project include the expansion of roadways, the modernization of traffic management systems, and the development of new intermodal connections that facilitate smoother transport of goods.

The interview delves into the expected benefits of the project, not only for the port but also for the broader regional economy. By addressing existing bottlenecks and optimizing transportation routes, the Port Street Corridor Project is poised to support increased trade volumes and foster economic growth.

The conversation provides a comprehensive overview of how this initiative will shape the future of logistics and trade in one of the nation’s most crucial transportation hubs.

For more information on the Port Authority of NY & NJ, visit https://www.panynj.gov/port/en/index.html

Check out more of our GT Podcast – Logistically Speaking Series and more here!

cable

The American Cable Market Will Shoot Up Thanks to Infrastructure Development for Electric Vehicles

IndexBox has just published a new report: ‘U.S. – Insulated Wire And Cable – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

Electric wires and cables may hit a record demand amid the infrastructure development for electric vehicles in the U.S., for which the Biden administration’s infrastructure bill will allocate $174B. The active deployment of 5G networks and the expansion in the construction sector due to the rush demand for dwellings will also continue driving the market in the medium term.

Key Trends and Insights

The insulated cable and wire market could begin a new era of growth due to the expected increase in demand for infrastructure for electric vehicles in the U.S. In March 2021, the Biden Administration unveiled a plan to stimulate the introduction of electric vehicles, providing for the installation of charging stations throughout the whole country. The plan outlines investing more than $174B in infrastructure creation and development.

The construction boom in the private low-rise building sector will further stimulate the wire market. In the context of an acute shortage of housing amid the rush demand, the intensive pace of new construction will ensure a stable need for cables for the next two years at least.

The intensive construction of a new 5G network for broadband access will be another important driver of the wire market. The development plan for this segment is described in the National Strategy for 5G Security in the U.S., adopted in 2020, which points to allocate $100B for its implementation.

Producer prices for copper wires and cables in the U.S. grew steadily over the last three quarters of last year and prices in April 2021 exceeded their April 2020 level by a rate of 1.3. In the short term, prices are expected to continue growing as demand outstrips the market supply. Production in 2020 fell by 2.7% y-o-y and has not yet fully recovered from market disruptions due to the Covid pandemic. The rise in prices for copper and PVC, raw materials for manufacturing wires and cables, also contributes to the rise in the cost for the final product.

Given the above-mentioned circumstances, the U.S. wire market is expected to post solid gains in the medium, term. Driven by strong demand in the electrocar industry, the construction and the growing telecommunications segment, the market could reach 1.8M tonnes by 2030 (IndexBox estimates).

Insulated Wire and Cable Production in the U.S.

In 2020, the amount of insulated wire and cable produced in the U.S. reduced to 731K tonnes, which is down by -2.7% compared with the year before. Overall, production recorded a perceptible downturn. The most prominent rate of growth was recorded in 2019 with an increase of 6.1% y-o-y. Wire and cable production peaked at 996K tonnes in 2012; however, from 2013 to 2020, production remained at a lower figure.

In value terms, wire and cable production dropped modestly to $9.6B in 2020. Over the period under review, production recorded a perceptible descent. The most prominent rate of growth was recorded in 2019 with an increase of 6.1% year-to-year. Wire and cable production peaked at $12.9B in 2014; however, from 2015 to 2020, production stood at a somewhat lower figure.

Insulated Wire and Cable Imports into the U.S.

In 2020, purchases abroad of insulated wire and cable decreased by -28.1% to 1M tonnes, falling for the second consecutive year after three years of growth. In value terms, wire and cable imports shrank to $18.4B in 2020. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2020.

In 2020, Mexico (417K tonnes) constituted the largest supplier of wire and cable to the U.S., accounting for a 41% share of total imports. Moreover, wire and cable imports from Mexico exceeded the figures recorded by the second-largest supplier, China (148K tonnes), threefold. Viet Nam (65K tonnes) ranked third in terms of total imports with a 6.3% share.

In value terms, Mexico ($9.4B) constituted the largest supplier of wire and cable to the U.S., comprising 51% of total imports. The second position in the ranking was occupied by China ($2.9B), with a 16% share of total imports. It was followed by Viet Nam, with a 6.1% share.

In 2020, the average wire and cable import price amounted to $17,883 per tonne, increasing by 23% against the previous year. Over the last eight years, it increased at an average annual rate of +3.0%.

Source: IndexBox Platform