Business is booming at Portland's International Marine Terminal, even as post-pandemic shipping has fallen for most major ports in the U.S. and Europe. And shipping volumes are expected to increase with the opening of a new cold storage facility.
According to grant applications submitted by the Maine Department of Transportation in April, container traffic has increased by an average of 20% each year since 2013. This year, the port expects to handle nearly 50,000 containers — up from the 40,000-container mark reached last year.
Much of that growth can be traced to Icelandic shipping company Eimskip, which has used the port its primary American hub since 2013. Yet the real growth could be just around the corner, with a new $55 million cold-storage facility set to open its doors in February.
The increase in refrigerated storage is expected to provide access to new markets for food and beverage companies in Maine.
