Georgia Ports Authority (GPA) reported a 4% decrease in its December box volumes handling 422,300 TEUs and a 16% decline in its 2023 container throughput with 4.9 million TEUs.
Higher inflation rates and interest rates affecting consumer spending and resulting in elevated inventories in warehouses were the main reasons for this container decline, according to the port authority.
Meanwhile, GPA’s Mason Mega Rail intermodal facility is experiencing growth, with a 10% increase in volumes during the first six months of fiscal year 2024 compared to fiscal year 2023. In December alone, GPA recorded 45,709 rail lifts, marking a 20% increase from the same month of the previous year. Rail volumes constitute approximately 20% of Savannah’s total volumes, with the remaining 80% being transported by truck.
Additionally, GPA’s Port of Brunswick achieved a record-breaking milestone in 2023, handling 775,565 units of autos and machinery, marking a significant 15.6% increase from the previous year.
The Georgia Ports Authority (GPA) has strategically invested US$262 million in expanding Colonel’s Island, aiming to establish it as the premier Ro/Ro facility in the United States. This expansion includes the addition of 493,716 m2 for Roll-on/Roll-off cargo storage, the construction of three new warehouses for near-dock warehousing, ongoing development of new processing centres, and plans for a fourth Ro/Ro berth and a new rail yard.
These initiatives are designed to provide auto manufacturers with enhanced capabilities for meeting their growing import and export demands, as well as increased flexibility in the storage and movement of vehicles during seasonal cycles.
Source: Container News