Prince Rupert, yes your ears are burning, they’re talking about you down south. Discussing, the progress of your gateway to the world and how they can use you to their advantage to make lots and lots of money.
Prince Rupert is the hot topic at the Memphis Multi Modal Conference, as a number of guest speakers explain how the Port of Prince Rupert is going to make their lives a lot more easier and perhaps a lot more profitable.
The Memphis Commercial appeal featured the conference on its website today.
Memphis ready to put Prince Rupert to work
New harbor in Canada will have large, immediate trade impact here
By Jane Roberts
Prince Rupert is the hot topic at the Memphis Multi Modal Conference, as a number of guest speakers explain how the Port of Prince Rupert is going to make their lives a lot more easier and perhaps a lot more profitable.
The Memphis Commercial appeal featured the conference on its website today.
Memphis ready to put Prince Rupert to work
New harbor in Canada will have large, immediate trade impact here
By Jane Roberts
Memphis Commercial Appeal
March 28, 2007
Dozens of importers and exporters are at The Peabody today, learning how to benefit from a new Canadian harbor that will shave days off trans-Pacific sail times and bring a windfall of trade to Memphis.
"It's a brand-new avenue of commerce, a brand-new option for moving containers as opposed to the traditional West Coast ports. It opens a world of possibility," said Carey Treadwell, president of the Memphis World Trade Club and organizer of the first Memphis Multi Modal Conference.
The conference, which opens at 8 a.m., focuses on ways for local businesses to increase the efficiency of their international operations through Prince Rupert, the new harbor opening in British Columbia this fall, and other efficiencies.
It includes a keynote address from Richard Newcomb, former director of the Office of Foreign Assets Control of the U.S. Treasury Department and current member of Baker, Donelson, Bearman, Caldwell & Berkowitz's international practice in Washington.
Panel discussions will focus on cargo security, ways to minimalize supply chain risk and the impact Prince Rupert will have on Canadian National and its operations here.
Canadian National railway has invested $140 million in port facilities in Prince Rupert, British Columbia, promising customers a shorter Pacific crossing and less congestion getting their goods to market in North America.
Its facility will open in October. Within six months, Canadian National expects it will be transferring 500,000 containers from ships docking in the warm-water port.
The uptick in Memphis will be nearly immediate. About a third of the containers will come directly to CN-CSX's intermodal yard at Frank C. Pidgeon Industrial Park in Southwest Memphis, providing business for air freight carriers, barge lines and trucking companies.
But it also will provide options for Memphis exporters and importers, Treadwell said, who suddenly will have access to Asia through the less-congested Canadian port.
"It will offer more choices to us. What's good for commerce, ultimately, is good for jobs," he said.
Prince Rupert is one of several transportation advantages smiling on Memphis. Another is the aerotropolis, the brainchild of John Kasarda, director of the Kenan Institute of Private Enterprise at the University of North Carolina, who says that the international trade centers of the future will be cities with tremendous access to air cargo and air transportation.
He cites Memphis as the best example in the United States.
"We had the secretary of Transportation here in November for the field hearings. We're not just letting that be the end of it," said Dexter Muller, senior vice president for community development at the Memphis Regional Chamber.
"We're following up on that, keeping the logistics agenda front and center."
Canadian National says Memphis is its most important U.S. city outside Chicago and is investing aggressively here, building a $35 million intermodal yard at Pidgeon Park and spending $100 million to enlarge its operation at nearby Johnston Yard.
Globalization is the driving force. Today, big-box retailers want to have enough inventory to stock several regional warehouses from a central logistics park, saving them time and money.
Mike Bruns, president of Comtrak Logistics here, moderates the opening panel discussion this morning on the impact Prince Rupert will have on Memphis.
"It is a wonderful alternative to the congestion and labor issues we have in the West Coast ports. "It will help Memphis carriers grow the import side of our business."
--Jane Roberts: 529-2512
Copyright 2007, commercialappeal.com - Memphis, TN. All Rights Reserved.
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