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Casey said the port saw roughly an 11 % increase in deep-draft vessels of all types, including tankers, transit the ship channel in May. That number will eventually increase with the Project 12 dredging.

“ The terminal is going to be designed for our P12 program, so we’ re going to accommodate the really big ocean-going vessels [ with no ] limitations,” he said.

Whereas the port had to piece together the Bayport terminal from its own land and a former Sealand terminal, Casey said the port authority wants the third terminal to be more integrated with the region’ s road networks.

The Spilman Island location is across the ship channel from the Cedar Port Industrial Park, a 15,000-acre logistics, warehousing and distribution site in Baytown, Texas. Most

of Cedar Port’ s customers must rely on trucking from the port’ s container terminals over the Fred Hartman Bridge. Casey said the Baytown region accounts for about 9 % of the port’ s container cargo demand. To that end, the port is working with Cedar Port’ s shippers on how it can optimize cargo flow from a third terminal, particularly in a region that can be choked with traffic.

Cedar Port“ is absolutely in our planning,” Casey said.“ We’ ve reached out to our customers that are over there. We’ ve reached out to the truckers. And we’ re looking at what makes the most sense to maximize value and minimize choke points.”

email: michael. angell @ spglobal. com

Singapore’ s PSA to develop $ 945 million Haiphong terminal

By Keith Wallis

PSA’ s planned four-berth terminal at the Port of Haiphong( pictured) will add 4.5 million TEUs of capacity. TranMT / Shutterstock. com

Singapore-based terminal operator PSA International has become the latest foreign port company to invest in Haiphong’ s Lach Huyen deep-sea port complex in northern Vietnam after signing a $ 945 million deal to jointly develop a four-berth terminal at the port.

Per the pact between PSA Vietnam and Lach Huyen International Logistics & Industrial Park( LHF), PSA will invest in the Lach Huyen Port Investment Joint Stock Company to develop and operate the four wharves which would form berths 9 through 12 at Lach Huyen. The berths would have a combined capacity of 4.5 million TEUs.

Development of the first two berths is scheduled to start at the end of this year, with completion expected in 2028. The remaining two berths will be developed in a subsequent phase with full completion targeted by 2035, PSA said in a statement.

PSA said the Lach Huyen terminal will complement its facilities in Vietnam, including the two-berth SP-PSA terminal at the Cai Mep-Thi Vai deep-sea port at Vung Tau in southern Vietnam and its inland container depot in Bac Ninh near Hanoi in the north.

“ By adding a strategic deep-sea hub at Lach Huyen to our existing network, we are strengthening our nodeto-network strategy and enhancing connectivity across regional and global supply chains,” Nelson Quek, regional CEO for Southeast Asia at PSA, said in a statement.

Lach Huyen International Logistics & Industrial Park is developing the port complex as part of a 4,200-acre industrial and logistics park within a free trade zone.

The agreement follows a series of recent concessions between carrier-controlled terminal operators and Vietnamese companies to develop port facilities at Lach Huyen.

CMA CGM signed a $ 600 million deal with Saigon Newport Corporation( SNP) in May 2025 to develop terminals 7 and 8 at Lach Huyen that will have a combined capacity of 1.9 million TEUs when operational in 2028.

Terminal Investment Limited, the port affiliate of Mediterranean Shipping Co., opened berths 3 and 4 at Lach Huyen through its Hai Phong Port TIL International Terminal Company in April 2025.

Maersk affiliate APM Terminals is a minority investor in the Hateco Haiphong International Container Terminal that operates berths 5 and 6 at Lach Huyen, which officially opened in February 2025.

The moves are part of a growing trend by ocean carriers, supported by recent record profits, to develop and acquire terminals, particularly in Asia, as they move to secure access at key regional ports to gain preferential berthing rights and minimize delays.

email: keithwallis @ hotmail. com

22 Journal of Commerce | August 3, 2026 www. joc. com