Posted on March 1, 2023
To go along with its No. 1 ranking for waterborne tonnage volume, Houston ends 2022 as the fifth-busiest port by TEU(twenty foot equivalent unit) volume. The Savillis Port Report detailed demand historically driven by manufacturing and petrochemical industries has been aided by growth in e-commerce and logistics & transportation/3PL operators. The growing diversification of the tenant base has seen rental rates touch record highs and net absorption continues to exceed deliveries of new product. Highlights from the report show:
Since 2019, Houston has grown faster than any major port.
TEUs increased 15.1% from 2021 to 2022–double the average from the last ten years.
To go along with its No. 1 ranking for waterborne tonnage volume, Houston ends 2022 as the fifth-busiest port by TEU volume.
Supply of labor exceeds the national benchmark, making the Port of Houston an attractive option for warehouse occupiers.
