CBRE: Port of Houston climbs to 5th ranked port market in North America

​​HOUSTON – Despite a serious commodity slowdown in Houston, the Port of Houston’s climb to the fifth-ranked port market in North America demonstrates that rumors of a demise in Houston’s commercial real estate market are largely exaggerated, according to CBRE Group, Inc.’s second-annual North American Seaports and Logistics Index.

The port saw nearly 10 percent growth in 2015, driven by strong petrochemical export business, some residual effect of west-east cargo shift, and the strength of Houston’s industrial market.

Combined with the upcoming Panama Canal and Houston Ship Channel’s expansions, midstream and downstream companies continue to see Houston and the Gulf Coast Region as a solid investment. 

According to the report, nearly $150 billion in petrochemical projects have taken place along the Gulf Coast since 2010, and $50–$60 billion in projects are located in the Houston-area.

While container volume grew by 9.2 percent, the value of exported goods dropped to $251 billion from 2014’s record of $289 billion. 

The biggest sectors to post losses were computer and electronics products ($45.3 billion), petrochemical and coal products ($44.1 billion), and chemicals ($39.9 billion), according to the Census Bureau.

In spite of these losses, the Houston area is projected to see an increase of new exports in the near future.