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SJPC WINS $1 MILLION GRANT THANKS TO SENATOR MENENDEZ, SENATOR BOOKER & CONGRESSMAN NORCROSS

WASHINGTON, D.C. – U.S. Senators Bob Menendez and Cory Booker (both D-N.J.) and Congressman Donald Norcross (D-N.J.-01) today announced $1,010,800 in federal funding from the U.S. Department of Transportation (USDOT) to support the operations at Balzano Marine Terminal at the Port of Camden. The South Jersey Port Corporation (SJPC), which operates the marine terminal, will use the funding to purchase two American-made, low emission reach stackers, which will help improve operations and throughput at the terminal.

“With billions of dollars of goods coming through New Jersey’s ports every year, we must invest in their infrastructure to secure our competitiveness and keep our state and national economies moving,” said Sen. Menendez. “This federal grant will ensure Balzano Marine Terminal can continue moving goods and products in and out of the facility everyday smoothly and efficiently. Throughout my career, I have always advocated for our ports and I will continue fighting to make sure they have the critical resources they need.”

“We know that investing in South Jersey’s port infrastructure is a proven way to spur economic development, bolster our region’s economy, and create jobs,” said Sen. Booker. “I stand committed to continue fighting alongside Senator Menendez and Congressman Norcross for the federal resources needed to maintain the Port of Camden’s strength and economic competitiveness.”

“The Balzano Marine Terminal is a critical link in our supply chain and handles cargo that feeds directly into the broader economy,” said Rep. Norcross. “Increasing the number of low-emission reach stackers at the terminal will grow its capacity to offload and move goods, ease bottlenecks, and contribute to the South Jersey economy.”
Balzano Marine Terminal offers one-stop service for breakbulk and bulk cargoes. The facility handles steel, project cargo, wood products, cocoa beans and other bulk cargoes on a regular basis.

“Senator Menendez, Senator Booker and Congressman Norcross have been forceful and effective advocates for our ports in southern New Jersey,” said SJPC CEO Andrew Saporito. “This grant will support our continued efforts to operate the Balzano Marine Terminal more efficiently and utilize the marine highway which reduces the number of trucks on our roadways and neighborhoods. This is even more critical as we are moving record cargo volumes.”

RAIL CONNECTIONS, EFFICIENTLY MOVING GOODS TO DESTINATIONS

South Jersey Ports offers on-demand commercial rail service to the Port of Salem with connections to both Class 1 Railroads – Norfolk Southern and CSX Transportation. SMS Rail Lines provides the last mile to the port on the 19-mile branch owned by Salem County – which makes the Port of Salem competitive with many ports on the East Coast. Responsive rail service ensures that all the ports in Southern New Jersey serve as an integrated network offering importers and exporters necessary transportation options to move their goods. Freight rail continues to be the modal option to move breakbulk cargo off the port to consuming markets up and down the east coast as well as the mid-west.

In the past decade, $40 million has been invested to upgrade the Salem Rail Line. Cargo that has been handled on this line includes fertilizer products, fresh fruit and produce lumber, and aggregates that have come from both domestic and international points of origin. Rail service for industries in South Jersey and beyond offers better freight costs which strengthen companies’ bottom lines and supports growing jobs in the region. Having reliable rail service also gives companies a reason to look at Salem County as a potential location for their company.

In addition to operating the Port of Salem interconnection, SMS provides rail services to the Pureland Industrial Complex, a 3,000-acre industrial hub in Logan Township that is home to more than 120 companies, including Amazon, and has rail/truck intermodal capabilities to serve New Jersey, Pennsylvania, Delaware, and Maryland markets.

The continuing upgrade of the regional rail lines is key to New Jersey’s plan to grow domestic economic development in the southern tip of the state and strengthen its leadership in the building and support of the $100 billion offshore wind energy industry. The $300 million Wind Port will be located seven miles south of the Port of Salem, providing the opportunity for a rail to barge service for the supply of offshore wind components.

SHIPPING SPOTLIGHT: BERMUDA ISLANDER

Each Monday night, the Bermuda Islander sails from the Port of Salem for a Thursday docking at Bermuda’s Port of Hamilton with its weekly cargo of fresh produce, meats, and everyday consumer good – perhaps it seems mundane, but this service is vital to the islanders’ needs and the tourists that are Bermuda’s economy.

Since 1989, Bermuda International Shipping Ltd, a group mainly consisting of local importers and businesses in Bermuda, has shipped 35 percent of Bermuda’s consumer goods through the Port of Salem to its island paradise.

Most of the products arrive already consolidated in their containers from an established network of suppliers throughout the USA. Other suppliers take advantage of the excellent services provided by Mid-Atlantic Shipping and its managing owner Butch Irvine, who provide consolidation and storage services at their 9,000 square foot warehouse in Salem. Their 17 employees and reliable network of 25 truckers are locals who understand the need to go above and beyond to keep their customers happy and ensure that the Bermuda Islander is ready to leave port on Monday.

Loaded with 120 TEU’s containers, including 30 refrigerated, the shallow draft Bermuda Islander navigates weekly via the 16-foot-deep Salem River that flows into the Delaware River and Bay and the Atlantic Ocean on its’ three-day journey to Bermuda. It returns by Monday morning, off-loads the empty containers, reloads full containers, and sails back Monday night on schedule. Nearly two percent of the return containers are used to transport used recycling materials, including cooking oil, and the occasional belongings of a family migrating to a new home.

For decades, it has become the dependable and agile conveyor belt of supplies to Bermuda, through good weather and bad, moving 13,000 containers annually. The Bermuda Islander and Mid-Atlantic Shipping have been vital partners to the South Jersey Port Corporation and an economic generator in southern New Jersey. They have invested over $25 million in the facilities, infrastructure, and taxes over the years.

Hurricanes, legendry and fierce in the Caribbean in September and October, have had a minimal negative impact on the Salem to Hamilton supply chain. The Bermuda Islander is dedicated solely to the route. If necessary, it can ride out the storm in either port for the days it takes to blow over. Meanwhile, sensitive to the vulnerability during hurricane season, islander importers stockpile, well in advance, critical non-perishable supplies to tide them over through a series of storms.

The Port of Salem is part of an integrated network of ports in southern New Jersey that move over 4 million tons of cargo annually and are becoming the center of the supply, manufacturing, and assembly of the offshore wind industry on the East Coast. The Salem Marine Terminal offers direct access to road and rail service without the time-consuming and expensive delays associated with other larger East Coast ports.

DECEMBER CUSTOMER SPOTLIGHT: U.S. CONCRETE

Forget the computer-chip shortage. The world’s economy is starving for sand – the key ingredient of concrete – and southern New Jersey has plenty of it, and the port to transport it efficiently from source to builder: South Jersey Port Corporation’s Port of Salem.

Each year approximately 400,000 tons of sand is mined in Salem County and barged from Port of Salem Marine Terminal for construction projects in the metropolitan New Jersey/New York region and, in the process, eliminating 16,000, 25-ton trucks from New Jersey highways.

The ubiquitous grain of ancient sediment is the key ingredient of concrete – the indispensable building block of all construction. As the post-COVID economy rebounds and President Biden’s multi-trillion-dollar infrastructure program kicks into gear the demand for southern New Jersey sand will grow.
Without sand, there’s no concrete. Without concrete, there’s no modern highway, buildings, ports, airports, tunnels, skyscrapers…there’s no economy, no infrastructure building. The global shortage is so severe that several nations already banned its export.

New Jersey is rich with fine sand beaches but, like California, those beaches are constantly eroding into the sea and there is an endless and expensive battle to replenish the sand by pumping it back from the seafloor onto the beach. That’s why the U.S Concrete sand mine in Salem County’s Quinton Township with its 25.2 million cubic yards of sand is so important. With 380 aggregate mines and 300 concrete and asphalt mixing facilities throughout the country, U.S. Concrete and its parent, Vulcan Materials, is a fully integrated concrete/asphalt – from mine to pour – company.

In 2017, U.S. Concrete acquired the Quinton mine and the lease at the Port of Salem. Once mined, the sand is washed to remove clay and silt, weighed, and then trucked seven miles to the Port of Salem, loaded onto a barge which is towed once a week to its New York plants. Each barge out of the Port of Salem handles roughly 8,000 tons of sand, taking 320 trucks off New Jersey roads each week. It’s more efficient, safer, and environmentally positive transportation of the sand.
South Jersey Port Corporation and its four marine terminals throughout southern New Jersey move more than four million tons of bulk and breakbulk cargo through its facilities annually.

MENENDEZ ANNOUNCES $9M TO EXPAND SALEM PORT SERVICES, HIGHLIGHTS NEW, GREEN JOBS ALONG DELAWARE RIVER

Standing on the docks of the Port of Salem on November 9th, United States Senator Robert Menendez announced that South Jersey Ports will receive a $9 federal grant to upgrade its Salem Marine Terminal to strengthen New Jersey’s leadership in building, supporting, and manufacturing key component for the offshore wind energy industry blossoming off the Atlantic coast.

The Infrastructure for Rebuilding America grant, which has been in the works for more than a year, comes as President Biden was preparing to sign the $1.2 trillion infrastructure package that will mean an unprecedented investment of tens of billions of dollars into New Jersey’s ports, roads, airports, and other critical infrastructure over the next decade.

Added to the billions of dollars of public and private investments in South Jersey ports and specialized manufacturing to support offshore wind energy farms, the grant helps to fuel the state’s leadership in the $100 Billion offshore wind energy industry.

“The potential for the Port of Salem to take on millions of dollars in new business is tremendous. But when opportunity comes knocking you have to be ready to open the door,” said Senator Menendez. “That’s why every penny we invest to upgrade the Salem Marine Terminal today is setting the stage for new business in the green energy space.

“We want to thank Senator Menendez and Senator Cory Booker for their continued support for South Jersey Ports. They’ve been working in tandem with Governor Phil Murphy, Senate President Steve Sweeney, Congressman Donald Norcross, Congressman Jeff Van Drew, and regional leaders to make South Jersey a national leader of this dynamic, new green industry while also improving our overall capacity to service our current and future marine cargo customers,” said Andrew Saporito, Executive Director and CEO of South Jersey Port Corporation.

This is another example of the broad bipartisan support in Trenton and in Washington D.C. for the ongoing development of the marine terminals of South Jersey into the premiere logistical, manufacturing, and support center for a job-rich, carbon-free, Green Economy growing along the East Coast. The grant will be used to rehabilitate a 150-linear-foot bulkhead at the Salem Marine Terminal and extend it to 400 linear feet.

Salem Marine Terminal – with multi-modal rail connections, its barge, and navigation expertise along the Salem River, close links to interstate highways and bridges, and its sibling South Jersey marine terminals – will be ideal for logistical and maintenance support for the huge ocean wind-energy farms.
New Jersey is on track to invest $1 billion to lead the offshore wind energy industry in the United States. The South Jersey Port has already invested $400 million to develop the Port of Paulsboro into a general cargo marine terminal that was built with heavy-load decks to accommodate the massive weight of offshore wind energy components. For the past year, EEW America Offshore Structures, a worldwide leading producer of monopoles, has been building a $300 million state-of-the-art monopole plant at Paulsboro.

Doubling down, the New Jersey Economic Development Authority is building a $250 million “Wind Port” in Lower Alloways Township – 11 miles from the Salem Marine Terminal – to manufacture, assemble, and deploy the huge offshore turbines and blades.

Congressman Donald Norcross tours South Jersey Ports with a focus on supporting job creation

Congressman Donald Norcross and new Camden Mayor Vic Carstarphen honored us with a visit at Balzano Marine Terminal in Camden on June 3.

Throughout his career as a labor leader, state senator, and congressman, whose congressional district spans our terminals in Camden and Paulsboro, Congressman Norcross has been a tireless advocate for our mission to maximize our maritime assets to create and support family-sustaining jobs throughout South Jersey.

“South Jersey Port plays an integral role in connecting our region to the global economy,” said Norcross. “It has brought with it countless jobs in manufacturing, construction, and agriculture, and is now the epicenter of America’s $100 billion offshore wind energy industry. As we work to build back better, it is a top priority to steer federal funding and advance policies that support job creation and infrastructure improvements throughout South Jersey, including our ports.”
Camden Mayor Vic Carstarphen, who grew up in the city he now leads, sees the two SJPC marine terminals in Camden as foundations of its economy and growth.

“The port is a job multiplier, supporting multiple jobs beyond their own payroll: truckers, engineers, restaurants, businesses,” he explained. “Whether you want to be a laborer hauling bags of cocoa beans, or a college graduate with a business or accounting degree who wants a career in logistics and global trade, South Jersey Ports provide that opportunity.”

South Jersey Port Corporation provides tours to elected officials to highlight the impact of the facilities on New Jersey’s economy

State Senator Nilsa Cruz-Perez and her legislative counterparts in the 5th Legislative District Assemblyman Bill Spearman and Bill Moen joined Camden City Councilman Angel Fuentes for a tour of the Balzano Marine Terminal on July 16.

The legislative team whose district includes Camden City, home to Balzano Marine Terminal and Broadway Marine Terminal, continues to be strong champions of the SJP’s mission in the New Jersey State Legislature and advocates for the needs of their constituents from quality of life to job creation and economic stability.

“The port is a pillar of Camden’s economy and with that comes the responsibility to the people of the city,” said Senator Cruz-Perez. “And it’s important that the port continues to be a good corporate citizen that runs its business respectful of the people are the backbone of our city.”

“Yes, jobs matter,” added Assemblyman Moen. “But just as important is improving the quality of life of our neighborhoods and this tour affirmed to me the SJPC’s commitment toward that mission, too.

Assemblyman Spearman and City Councilman President Angel Fuentes, who also toured the port, agreed.

“The port is taking some important steps. Big steps like switching from diesel to electric to power its equipment fleet and some small steps like switching to LED lighting to reduce its carbon footprint, which takes investment,” said Assemblyman Spearman.

“We are fortunate to work hand-in-hand with government leaders,” said Andy Saporito, Executive Director and CEO of SJP. “Creating jobs is our mission, but being a good neighbor is equally important. Reducing our carbon footprint is important, but so is reducing the impact of truck traffic to and from our terminals on neighborhoods. By working with our legislators, city government, and residents we can improve the quality of life in our neighborhoods.”

Shipping Partner Spotlight: Clipper America

“South Jersey Port Corporation (SJPC) has been a great business partner for us for many, many years,” said Peter Svensson, senior vice president and head of Clipper America said, reflecting on the millions of tons of steel that his ships have moved over three decades through the SJPC’s Balzano Marine Terminal in Camden and the record tonnage projected through 2023.

“Although South Jersey Ports is a state organization, they manage and run it as a private company,” Svensson explained. “They are great partners. The key for us is having adequate docking and adequate warehousing space so we can move our cargo as efficiently as possible. And most importantly, so our ships aren’t unnecessarily burning money moored at the dock waiting to move cargo. Time is money. And SJPC has consistently delivered for us.”

Customer service and satisfaction is the operating imperative of the team at SJPC which is led by their Executive Director and CEO, Andy Saporito. “It’s personal to us because our customers, like Peter, are personal to us,” Saporito explained. “We all have our bottom lines. A ship unloading at the dock is costing Peter and his company upwards of $35,000 a day. That is factored into the rate he charges his customer. If that ship is idle at the dock, the increase in cost is something that comes out of our customer’s pocket and it is our job to ensure our terminal is the best option.”

South Jersey Port is committed to earning the trust and business of its partners like Peter at Clipper America. “We earn that trust by being a solid, dependable partner who focuses on our customers’ needs,” said Brendan Dugan, Assistant Executive Director/Director of Business Development for SJPC. “Our team here proactively works to mitigate any obstacles to our mutual success. SJPC is expert in the handling of high-value, high-quality cargo like the coiled steel and tin plate that Clipper America entrusts to us.”

That commitment and expertise is paying dividends with SJPC eclipsing Houston as Clipper America’s top American port of call.

“In the old days, our first port of call in the United States from Antwerp would be New Haven/New London Connecticut and we’d sail down to Camden offload 15,000 to 17,000 tons and then go to Savannah, Houston, and the Gulf ports,” Svensson explained. “Now our ships go directly from Antwerp to Camden and we’re delivering full shiploads, with upward of 30,000 tons. This year is probably our strongest year ever in Camden, probably around 400,000 tons and we project that will last another two years into 2023.”

COVID and the tariffs on imported steel had a devastating impact on shipping and the global supply chain. “March and April of 2020 weren’t the end of the business, but it was pretty gray and dark,” Svensson observed. “When Summer came, shipping went up and stayed that way from much of the second half of 2021. Q1 of 2021 “took off like a space shuttle to Mars and it is still going strong. A year ago, in February of 2020, you could get a ship for $5,000 to $6,000 a day. Today, you’re lucky to get it for $34,000 to $35,000 a day.”

The disruption to the supply chain won’t be fixed soon. Millions of empty cargo containers need to be relocated to exporters, warehouses are clogged with cargo because there are not enough trucks and rail to move it, or the workers to do the work.

Fortunately, SJPC has the available warehousing, trucking, rail, and workers to get the job done and has become the default port for coil steel and tinplate imports for manufacturers in the mid-west and along the Great Lakes.

“Camden is a funny beast,” Svensson explained. “It has two seasons for the steel that is destined for manufacturers on the Great Lakes. When the Saint Lawrence Seaway is closed from December to April, Camden is booming. Typically, when the weather improves, the Saint Lawrence Seaway reopens, and we see a decline in volume in Camden. But that is not the case this year. We’re into August with the Saint Lawrence Seaway fully opened and we’re moving full ships with 27,000 tons of steel coil directly to Camden.”

Construction commences at South Jersey Port’s Paulsboro Marine Terminal, solidifying South Jersey’s share of America’s offshore wind energy industry

To grow a job-rich offshore wind industry while mitigating the damages of climate change, construction at the Paulsboro Marine Terminal is moving feverishly and on time to build a $250 million factory to manufacture the massive monopiles which are the bedrock of the wind-energy industry along the Atlantic coast.

South Jersey Port Corporation (SJPC)and the State of New Jersey are investing over $500 million throughout southern New Jersey to build the maritime facilities and expertise which will serve as the manufacturing and support center of the emerging $100 billion off-shore wind-energy industry… and it’s paying off.

EEW Group, the world’s premier manufacturer of monopiles, is replicating its German monopile factory at the Paulsboro Marine Terminal. The $250 million project is on schedule with the first building to be completed in early 2022, one year after ground-breaking.

The facility will produce monopiles up to 400 feet high and 40 feet in diameter. Barged out to sea, each monopile weighing up to 5 million pounds, will be hoisted by a specialized heavy-lift sea crane and driven into the seabed. They will rise above the surface of the water to support the gigantic tower, blades, and turbine rising another 800 feet. EEW-Paulsboro plans to produce the monopiles for both Orsted projects (Ocean Wind 1 and 2) and for EDF/Shell’s Atlantic Shores project. They are also in talks to provide monopile foundations for other offshore wind-energy projects along the East Coast.

“Our intention is to supply monopiles for every project in North America,” Lee Laurendeau, the CEO of EEW American Offshore Structures told National Geographic.

By 2024, EEW’s Paulsboro facilities will include six massive manufacturing buildings and an estimated 500 employees – working three shifts a day, six days a week – churning out 100 massive monopiles a year. To feed the production line, EEW will require approximately 150,000 tons of steel per year.

The first assembly building, which will be used for circumference welding, is expected to be completed in early 2022. Totaling 100,400 square feet, the building requires 10,000 tons of concrete and 12,000 tons of steel to construct. It will be topped off with the final steel beam this month with the final skin, mechanicals, power, and massive welding and manufacturing equipment installed over the following months. The facility’s office building is also expected to be completed by early 2022.

Construction of the 40,652 square foot Paint and Blast building will begin this September and is scheduled to be finished in Summer 2022. It will be fitted out with machinery and an air filtration system to protect the integrity of the monopiles and ensure their finishing can withstand decades of saltwater and waves in the Atlantic Ocean. Although fully integrated manufacturing won’t be operational until 2024, assembly of the monopiles will begin in 2023 for Orsted’s Ocean Wind 1 project. In the initial transitional phase, EEW American Offshore Structures will import from Germany semi-completed monopiles in three sections to Paulsboro for final circumference welding and finishing. It’s a process that is maximizing the facilities as soon as possible and gearing up expert training with a focus on quality control, technical expertise, and safety of an emerging American workforce.

When all six manufacturing buildings are completed and fully operational, all aspects of manufacturing including rolling steel into massive cylinders, welding, and painting, will be produced in Paulsboro, New Jersey, employing an anticipated 500 employees.

Partnership Highlight: Holt Logistics

The South Jersey Port Corporation (SJPC) and Holt Logistics Corporation have created a beneficial partnership that drives their mutual success and is a cornerstone to New Jersey’s efforts to be the epicenter of the $100 billion offshore wind energy industry.

“We succeed when our tenants, customers, and partners succeed,” explained Andy Saporito, the SJPC’s Executive Director and CEO. “We share the mission of fueling a robust economy for South Jersey and growing and supporting jobs throughout the region.”

Leo Holt, president of Holt Logistics Corporation agrees: “We’re job-providers… providers of family-sustaining jobs across our ecosystem of many different platforms that go beyond dockworkers, teamsters, and machinists.”

The partnership is a vital part of the supply chain supporting manufacturing, construction, and industrial jobs – as well as that of their suppliers and vendors, throughout New Jersey and the region stretching to the Mississippi River and the Great Lakes regions.

“It’s the virtuous byproduct of what we – Holt and South Jersey Ports – do,” added Holt.

As a stevedore operating company, warehousing, and ship operator headquartered in Gloucester City, New Jersey, the Holt family company has been a fierce maritime competitor along the Delaware River since 1926 and has built a worldwide reputation as a top origin to market logistics provider.

Today the once competitive relationship between SJPC and Holt has morphed into a partnership. Holt leases and operates two of SJPC’s most important assets: Pier 5 at Broadway Marine Terminal, the refrigerated fresh-fruit center of the port; and the newer Paulsboro Marine Terminal the keystone of the emerging offshore wind energy industry.

At Pier 5, Holt provides importers and exporters with a vertically integrated supply chain solution. There are three reefer buildings with more than 200,000 square feet of refrigerated warehouse space and 100 reefer plugs. Pier 5 has one berth with 1,135 linear feet at a depth of 35 feet. There is direct highway access to I-295 via I-676 and connections to Class 1 freight rail lines owned by NS, CSX, and Conrail.

SJPC invested $400 million to construct Paulsboro Marine Terminal, which Holt now operates. By building a terminal with heavy lifting load capacity, the port has the unique capacity to accommodate the huge and heavy monopiles for offshore wind farms while also accommodating much lighter general cargo as well as the steel slab imports for buildings, highways, cars, and appliances. This has positioned Southern New Jersey as a key import location for the steel industry and for the manufacturing, construction, support, and maintenance for the Atlantic coast wind energy industry.

The Paulsboro Marine Terminal is at a depth of 45 feet. It has three berths with 3,200 linear feet, two Liebherr mobile harbor cranes, trucks, lift equipment, reach stackers, and trailers. There is the ability to discharge or load heavy cargo direct to or from rail and the ability to load two trains simultaneously because there is a loop track and center loading track. For transportation, there is direct road access to Interstate 295 and on-dock rail that connects to Class I Freight Railroads: Norfolk Southern, CSX, and CP Rail. So far, with many new projects in the planning phase, Holt has invested nearly $15 million into the operation.

EEW, the German manufacturer of the massive steel monopiles is constructing a $250 million, six-building industrial complex at Paulsboro Marine Terminal to manufacture 100 monopiles a year for contracts it already has. Holt and its steel manufacturing client, NLMK, plan to compete to supply the 150,000 tons of rolled steel EEW will need each year to be fabricated into monopiles.

Even before Paulsboro was officially opened, Holt was unloading Russian steel at the terminal for NLMK Group’s steel plant in Farrell, Pennsylvania. In 2016, Holt moved 1.6 million tons of steel slabs through the port. In the following years, NLMK and other steel importers were hit with massive Federal tariffs on steel imports in an effort to boost domestic steel production. As a result, NLMK’s tonnage plummeted to one million tons annually as its steel plant, was starving for affordable steel slabs as domestic producers simply raised their prices. Then COVID recession hit shrinking demand and starving the supply chain. Holt responded by investing millions in employee safety protocols and preparing for the rebound.

Holt credited NLMK for its smart mitigation. It successfully reversed the tariffs by proving that it is an American manufacturer and diversified its supply chain for steel slabs to include Brazil and Mexico. It reworked its labor contracts that both benefitted its employees and freed up capital to finance a $200 million “Walk-in Beam Furnace” that will improve NLMK’s productivity and produce massive steel beams.

Now, the steel market can’t keep up with the demand as the global economy rebounds. “If you want to build a building, you can’t get the steel joists because Amazon has it bought for six to eight months out to build its fulfillment centers,” Holt observed.

The American supply chain needs more imported steel slabs to fuel the recovery and mitigate inflation. Holt anticipates its slab imports at Paulsboro will rebound past the previous high of 1.6 million tons annually to 2 million tons and more for the foreseeable future.