THE Port of Savannah appears to be gaining market share from regional and west coast ports after setting a new record for container throughput in May
This was the third straight month when total volumes reached 338,000 TEU, surpassing the previous monthly records of 335,906 TEU in April and 333,058 TEU in March.
Full containers accounted for 259,232 TEU, or 76.6 per cent, of May volume. Combined full and empty TEU volume surged 16.4 per cent year on year, according to data released by the Georgia Ports Authority (GPA).
Savannah's Asian volume boosted the port's market share of south eastern Atlantic coast ports (Miami to Virginia) during the first four months of the year to 39 per cent from 34 per cent during the January-April periods of 2013 and 2014.
Through the first four months of 2015, Savannah's TEU volume was up 20 per cent from a year earlier as the Georgia port benefited from west coast port congestion that peaked last winter and only recently receded.
During January-April, overall east coast market share was 43.5 per cent for imports and 53.1 per cent for exports, compared with the west coast's 50.1 per cent for imports and 35.5 per cent for exports, according to PIERS. Overall east coast market share was 47.3 per cent, compared with 44.5 per cent for the west coast.
Several east coast ports have reported record or near-record volumes this year. Charleston reported a 14.3 per cent year-on-year increase in May, although most of the growth was organic. April volumes posted year-on-year gains of 9.5 per cent at New York-New Jersey, 7.2 per cent at Virginia, and 17.5 per cent at Miami.
PORTS
08 July 2015 - 07:06
Savannah posts 3rd month of record container volume in May
THE Port of Savannah appears to be gaining market share from regional and west coast ports after setting a new record for container throughput in May
PORTS
08 July 2015 - 07:06
Savannah posts 3rd month of record container volume in May
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