From Delaware to Dubai, Mississippi to Malaysia, an increase in global trade is prompting a new wave of capital investment in port expansion projects and industrial facility construction.
      It comes as no surprise that the largest expansion projects are occurring in some of the world's fastest-growing markets: China, Malaysia, Dubai and the southeast U.S.
      There's no better example of what's happening in this critical industrial infrastructure area than the announced new

Officials with JAXPORT, Mitsui O.S.K. Lines (MOL) and Jacksonville Mayor John Peyton broke ground on MOL's new container terminal in Jacksonville on August 3.

container terminal for Japan-based Mitsui O.S.K. Lines Ltd. at JAXPORT (Jacksonville Port Authority) in northeastern Florida.
      Officials with Mitsui announced July 18 that the Tokyo-based logistics and ocean transportation company would sign a 30-year lease with JAXPORT, providing the first direct container ship service between Jacksonville and Asia.
      The cargo-shipping firm's total capital investment in the project is estimated at 6 billion yen (US$53.5 million), with operations in Florida set to begin sometime between July 2007 and early 2008. Mitsui will lease some 650,000 sq. m. (nearly 7 million sq. ft.) of space from the Port Authority and create more than 1,800 new private-sector jobs in northeast Florida.
      The new container terminal at Dames Point will be able to handle cargo from two unloading large container ships. Mitsui currently operates terminals in Los Angeles and Oakland, Calif. But faced with increasing cargo volumes from Asia to the U.S., the two California terminals have been maxed out.
      Mitsui expects to address the cargo overflow by increasing the number of container ship routes that travel through the Panama Canal to the new East Coast terminal.
      Martin Associates, a Lancaster, Pa.-based consulting firm, estimates that the new terminal will generate an economic impact on the greater Jacksonville area of about $870 million a year and a total of 5,600 direct and indirect jobs.
      "This opportunity is consistent with our strategy of expanding our terminal operations in the United States, as well as enhancing service for our customers by providing them with multiple, cost-effective service alternatives," said Hiroyuki Sato, deputy president of Mitsui. "We believe the new terminal at Dames Point will become a major gateway for service between the rapidly growing Southeast U.S.-Asia and U.S.-Latin America markets."
      "We are opening a doorway to Asia for local companies, enabling them to export directly to a huge consumer market or to import goods through their local port, resulting in cost savings," said Bill Mason, chairman of JAXPORT's board of directors. "This agreement also creates new opportunities in manufacturing, distribution and warehousing, all linked to trade with these new markets. For example, home improvement and department stores may now look to open distribution centers in Jacksonville because the port will provide them with a direct link to their Asian suppliers."
      Under the terms of the deal, Mitsui will lease space at an undeveloped portion of JAXPORT's Dames Point Marine Terminal in North Jacksonville, about 10 miles (16 km.) from the Atlantic Ocean and about one mile (1.6 km.) from JAXPORT's Blount Island Marine Terminal.
      The contract's first phase calls for JAXPORT and Mitsui to jointly fund construction of a 158-acre (64-hectare) container-handling facility, which will include two 1,200-foot berths, six Post-Panamax container cranes and other infrastructure needed to accommodate Mitsui's operations.
      The total estimated cost for new terminal construction is about $200 million, including the cost for cranes and equipment. Mitsui will pay principal and interest on debt issued to fund construction, said Ron Baker, deputy executive director and chief financial officer of JAXPORT.
      In selecting Jacksonville as the site for this project, Mitsui executives said they were impressed with the area's strategic geographic location, proximity to inland markets via Interstates 10 and 95, access to CSX rail service, experienced labor force and the Port Authority's ability to structure a deal with good financial terms for both parties.