SAINT SIMONS ISLAND, GEORGIA (FEBRUARY 8, 2016) – The global economic slowdown has an unexpected upside side, shipping line executives said at the Georgia Foreign Trade Conference here: the slower growth gives the US federal government – as well as state and local governments – the opportunity to catch up on some long-needed infrastructure improvements.

Speaking amid news reports that China’s economic growth rate last year was its slowest in a quarter-century, the executives told the conference that the industry has rebounded since the depths of the recession in 2009 – and that in its present condition, much of the infrastructure in the US will not be able to handle further growth.

“Twenty-five years ago, this country was the envy of every nation,” said David Arsenault, president and CEO of Hyundai Merchant Marine America and Hyundai America Shipping Agency. “We had the most advanced ports, terminals, inland infrastructure, roads and railways, and [since then], we’ve struggled to keep pace with the growth we’ve seen happening in the countries which were emerging at the time,” many of which, he says, have made great investments and strides in their infrastructure.

William Payne, vice chairman of NYK Line (North America), said that while the economic downturn does concern him – “without freight, all of us here are at risk,” he said – the existing infrastructure would struggle to support further cargo volume. “We have a window to address the constraints on moving freight and congestion, because if we had had a robust freight movement and growth, we’d be in much worse shape. We have an opportunity now because of the lack of volume growth to address congestion issues.”

(See the February issue of Asia Cargo News for additional reporting.)