Green light for new U.S. port that will handle 2 million containers a year

Insight summary

• •The U.S. Army Corps of Engineers approved a federal permit for the Louisiana International Terminal at the Port of New Orleans.
• •The $1.8 billion terminal will handle 2 million container units annually and is a partnership with Terminal Investment Limited and Ports America.
• •The project received $300 million in federal grants and aims to open in 2028 with initial capacity of 180,000-280,000 TEUs.
• •It will feature two deepwater berths with 55-foot depth, enabling larger vessels over 16,000 TEUs to call directly.
• •The terminal will improve multimodal connections and market access across over 30 U.S. states.
• •This is the only new greenfield container port development currently underway in the U.S.
• •Existing cargo activities at Port NOLA support over $101 billion in U.S. economic value and 342,000 jobs nationwide.