Tacoma container terminal canceled

The Port of Tacoma and Japanese shipping firm NYK have announced that plans for a US$300m new container terminal at the US port, announced three years ago and due to be leased to NYK from 2012, have been canceled due to the global recession. NYK said it would continue in its plans to route all its US Pacific Northwest traffic through Tacoma, but that it would now make use of the port's existing facilities instead. Box traffic at the port is currently almost half what it was at the time of the deal's launch.