PHILADELPHIA (AP) - Authorities say shipping has reached record levels at the Philadelphia port.
The Inquirer reports (https://bit.ly/2lBJzMT ) that cargo and containerized freight are up a combined 54 percent, making January the best month in history. The completion of the Panama Canal expansion now allows larger ships to access the Delaware River.
Companies from Chile, Peru, and Panama export fruit to Philadelphia instead of Baltimore or Newark. Philadelphia has also seen a massive increase in containers carrying household appliances and beer.
Tom Holt Jr., president of Holt Logistics, says many countries are attracted to the value of the dollar compared to their currency. Holt says the return is ultimately better.
Steel is one of the few cargoes that is decreasing. However, experts say the decrease is not indicative of larger trends.
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Information from: The Philadelphia Inquirer, https://www.inquirer.com
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