DESPITE a decline of 14 per cent in total container volumes at the Port of savannah in February, the port still recorded its second busiest February ever, with container trade nearing 395,000 TEU, down from 460,400 TEU during the same period last year, which marked its busiest February on record, reports Ventura, California's gCaptain.
According to port officials, the dip in container trade is attributed to inflation, rising interest rates, and high warehouse inventories.
However, compared to pre-Covid crisis volumes in February 2020, the port's performance last month showed an increase of 30,400 TEU.
The Georgia Ports Authority (GPA) is emphasising its growing market share in the US. The Port of Savannah is handling one out of every 8.8 TEU nationally, its highest share to date.
The port moved 11.4 per cent of the nation's loaded international containers for fiscal year 2023 through December, with over two million TEU, representing an increase of 0.7 per cent from its previous market share, equating to almost 120,000 TEU.
The Georgia Ports also increased its portion of US container exports to 12.3 per cent over the period from July through December 2022, up 0.4 per cent compared to the same period in the previous year, while Savannah's share of the import market rose to 11.1 per cent for the fiscal year to date through December.
'Our global economy is facing headwinds, but Georgia's deepwater ports continue to deliver dependable performance to keep business thriving,' said GPA executive director Griff Lynch.
'As the nation's top gateway for American farm and factory exports, the Port of Savannah serves as a hub for global commerce, linking every major ocean carrier calling the US east coast with superior connections to road and rail.'
SeaNews Turkey
According to port officials, the dip in container trade is attributed to inflation, rising interest rates, and high warehouse inventories.
However, compared to pre-Covid crisis volumes in February 2020, the port's performance last month showed an increase of 30,400 TEU.
The Georgia Ports Authority (GPA) is emphasising its growing market share in the US. The Port of Savannah is handling one out of every 8.8 TEU nationally, its highest share to date.
The port moved 11.4 per cent of the nation's loaded international containers for fiscal year 2023 through December, with over two million TEU, representing an increase of 0.7 per cent from its previous market share, equating to almost 120,000 TEU.
The Georgia Ports also increased its portion of US container exports to 12.3 per cent over the period from July through December 2022, up 0.4 per cent compared to the same period in the previous year, while Savannah's share of the import market rose to 11.1 per cent for the fiscal year to date through December.
'Our global economy is facing headwinds, but Georgia's deepwater ports continue to deliver dependable performance to keep business thriving,' said GPA executive director Griff Lynch.
'As the nation's top gateway for American farm and factory exports, the Port of Savannah serves as a hub for global commerce, linking every major ocean carrier calling the US east coast with superior connections to road and rail.'
SeaNews Turkey
