An infographic released by the American Association of Port Authorities (AAPA) shows the likely consequences of a US$46 billion investment gap in US ports by 2040.
Many ports have already begun to ramp up their infrastructure in preparation for the surge in trade as a result of the soon-to-be completed Panama Canal; however, America’s trade volumes are anticipated to quadruple by 2030.
According to the infographic, America can expect a $4 trillion loss by 2040 if it fails to invest in the appropriate transportation infrastructure.
There are also losses associated with deteriorating highways that connect various businesses and households, with a projected loss of around $1.3 billion for 2040 if suitable upgrades are not implemented.
US President Barrack Obama's recent qualified public infrastructure bonds proposal is planned to eliminate tax discrimination that inhibits the practice of recycling, a move which could provide a gateway for US port and transportation funding.
On an international level, China has been urged to invest around $10 billion in its infrastructure, in a call to action made by Moody’s Investor Service, over the next two years if it is to remain competitive in today’s market place.
Richard Anamoo, Director-General of the Ghana Ports and Harbours Authority has made the call that West African ports need to invest significantly in their infrastructure and inland logistics network in order to handle the surge in trade volumes and the new era of mega-ships.
See below for the infographic: