Port of Savannah expands container market share

The Port of Savannah saw total container volume fall by more than 14% in February, but still recorded its second-biggest February ever.

The Georgia Ports Authority (GPA) reports container trade at the Port of Savannah in February of nearly 395,000 TEUs, down from 460,400 TEUs in the same month last year when it had the busiest February on record.

Inflation, rising interest rates and high inventories are major factors in the decline in container trade, port officials said.

Compared to the volume before the pandemic in February 2020, last month’s output had increased by 30,400 TEU.

Savannah’s growing market share

GPA highlights its growing market share nationally, with the Port of Savannah now handling one in 8.8 TEUs in the US – its highest share to date.

The Port of Savannah moved 11.4% of the country’s loaded international containers for fiscal year 2023 through December, with more than 2 million TEUs. GPA’s share of US container trade increased by 0.7%, almost 120,000 TEU more than it would have moved at its previous market share. The fiscal year of the GPA runs from July to June.

Georgia Ports also increased its share of US container exports to 12.3% in the July-December 2022 period, up 0.4% from the same period last year. Savannah’s share of the import market rose nearly three-quarters of a point to 11.1% in the fiscal year to December, the GPA reported.

“Our global economy faces headwinds, but Georgia’s deepwater ports continue to deliver reliable performance to keep the business afloat,” said Griff Lynch, executive director of GPA. “As the nation’s premier gateway for American farm and factory exports, the Port of Savannah serves as a hub for global trade, connecting all major shipping companies calling at the US East Coast with excellent road and rail links.”

In the fiscal year up to February, GPA handled 3.8 million TEU.

In the Port of Braunschweig, trade in cars and heavy machinery increased by 18.5% or 8,227 units to 52,720 units of roll-on/roll-off freight in February.

“Volume and market share trends show that Georgia is outperforming the competition despite a slowing economy,” said Joel Wooten, GPA CEO. “Cargo owners and their logistics providers reduce uncertainty through the reliability and connectivity of our deepwater ports.”

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