The Port of Savannah grew container volumes by nearly 10 percent in the first quarter of Fiscal Year 2023. A shift in consumer spending and inflation pressures are expected to moderate demand for port services in the coming months. (Georgia Ports Authority)
Source: GA Ports Authority
GPA EXPECTS GROWTH TO MODERATE IN COMING MONTHS
SAVANNAH, Ga., October 13, 2022 – The Georgia Ports Authority handled more than 1.5 million twenty-foot equivalent container units in the first quarter of Fiscal Year 2023 (July-September), an increase of 135,000 TEUs, or 9.6 percent over the same period last year.
“A high number of ad hoc vessel calls, the addition of three new Mediterranean services, and one new service to Asia contributed to the growth,” said GPA Executive Director Griff Lynch. “Additionally, our regular services have been arriving with significantly more cargo destined for Savannah.”
Lynch said the average vessel exchange grew from 3,500 TEUs per ship this time last year, to 4,500 TEUs across the past three months. The Port of Savannah handled 776,067 TEUs of loaded and empty exports in the first quarter, while import trade totaled 766,525 TEUs. Loaded containers represented 70 percent of the total container trade. read more…