Shipping article(s)
Suez Canal introduces rebates to regain containership traffic
Suez Canal introduces rebates to regain containership traffic
CMA CGM warns extended China-US tariffs could disrupt global trade
U.S. slashes ‘de minimis’ tariff on small China parcels to 30%
LA, Long Beach ports warn of continued tariff uncertainty
China-US deescalation may spur early peak season
Yang Ming: US-China trade deal may spur demand, but uncertainty persists
US-China tariff pause offers temporary relief, could fuel another frontloading rush
Transpacific shipping faces capacity cuts as trade war escalates
Houthi ceasefire raises prospect of container traffic returning to Red Sea
Kale Logistics to develop Oman's national port community system
PSA BDP takes majority stake in Mexico’s ED Forwarding
Xeneta: ‘Ships for America Act’ adds more uncertainty to container shipping market
JAFZA marks 40 years with record US$190B in trade
Seafrigo expands multi-modal services to support global expansion
US port fees to have minimal impact on Transpacific niche carriers
Port fo NY/NJ is busiest US port in March
S&P: Liner shipping contributes US$1.1T to U.S. GDP
deugro Thailand delivers critical reactors for sustainable fuel production
Emirates Shipping Line joins World Shipping Council
Japanese shipyards may benefit from US port fees on Chinese vessels
MOL opens office in Washington, D.C.
Red Sea disruptions push shipping carbon emissions to record high in 2024
Port of LA expects a double-digit volume decline in the second half amid tariffs
DP World sources 65% of its electricity from renewables in 2024
Hapag-Lloyd: 30% of China’s US-bound shipments canceled
Port of Antwerp-Bruges says impact of US tariffs minimal for now
COSCO says planned US port fees threaten shipping, global supply chains
Yang Ming extends lease at Kaohsiung Port, acquires new containers
Transpacific sees surge in blank sailings amid escalating tariffs
UNCTAD: Global economic growth may slow to 2.3% amid mounting pressures
Port of Long Beach becomes the busiest U.S. port in Q1
IMO approves net-zero regulations for global shipping
India ends transshipment facility for Bangladesh exports
US softens stance on proposed port fees for Chinese vessels
Adani’s Colombo Terminal commences operations
Gemini shuttles hit 98% schedule reliability in February
Airfreight demand from China, Hong Kong to the US declines as rates rise
ZIM signs long-term charter deals for 10 LNG-powered 11,500-TEU vessels
Georgia Ports’ container trade grew 22.5% in March
CMA CGM inks AI deal with Mistral AI
Port of New York and New Jersey reports second-busiest February
Maersk's APM Terminals acquires Panama Canal Railway Company
ICS: Proposed US port fees on Chinese vessels to severely disrupt supply chains
PSA looks ahead to strategic developments in 2025 after record-breaking 2024
Hapag-Lloyd makes Philippine inaugural at ICTSI Manila
Yang Ming acquires three methanol dual-fuel ready vessels
Maersk shares updates on upcoming US reciprocal tariff plan
ONE highlights need for adaptability in volatile markets
WorldACD: Global air cargo rates rise as post-NY market rebounds
Chinese shipbuilder unveils LNG dual-fuel vehicle carrier
SATS partners with Guangtai to innovate ground support technology
SC Port's Inland Port Greer expands capacity by 50%
Hong Kong exporters remain positive despite growing trade tensions
Singapore opens applications for methanol bunkering licence
Tariff turmoil persists, though ocean freight rates continue to decline
UN agencies express grave concern over increased satellite interference
Baltic Hub welcomes multiple new services
Port of Savannah achieves busiest February on record
UK freight association seeks solutions to uninsured cargo
Rotterdam, Singapore boost green, digital shipping partnership
MSC announces standalone East/West network
Singapore, India ink deal to boost maritime digitalisation, decarbonisation
World Shipping Council calls on the U.S. to drop its planned port fees
Port of NY/NJ secures landmark lease extension with APM Terminals
Container rates slip amid signs of overcapacity
SC Ports expands weekly services with new ocean carrier deployments
Port of LA reports continued growth in shipments for February
Sea-Intel: Major ocean carriers profitability around US$60B in 2024
Adhira Shipping and Logistics sees continued demand for Cape Size carriers
Matadi Gateway Terminal expands hybrid equipment fleet
MPA, CMA CGM sign MoU to boost sustainable shipping, digital innovation
China, Hong Kong raise concerns over Hutchison Ports deal
Houthis ban U.S. vessels from the Red Sea; Trump vows end to the aggression
Hapag-Lloyd's port arm buys stake in terminal operator in Le Havre
MOL makes major stride in developing ammonia-powered carrier
WorldACD: Flat markets slightly above last year's levels
Frontloading continued to drive volume growth at the Port of Long Beach
Yang Ming plans regional route expansion amid evolving trade tensions
Malaysia's Sin-Kung Logistics eyes air cargo with Prima Air acqusition
Tianjin Port eyes increased container throughput to 35M TEUs by 2035
ILA-USMX officially sign six-year port contract through 2030
U.S. tariffs to accelerate relocation of factories to South, Southeast Asia
Singapore launches new standard on methanol bunkering
MOL strengthens chemical logistics business with new acquisition
MOL launches 1st onshore supply of green hydrogen produced at sea
DP World and Mawani inaugurate US$800M terminal in Jeddah
CMA CGM to invest US$1B for new Chicago air cargo hub
Trump halts Canada, Mexico tariffs again for another month
Trump unveils plans for new office of shipbuilding
CK Hutchison sells int'l ports business to BlackRock, MSC for US$22.8B
CMA CGM's first dual-fuel methanol vessel makes maiden call at Singapore
Alibaba, Maersk partner on container shipping services
MOL joins e-methane alliance e-NG Coalition
Freight pricing, contracts become more fluid
Port of New York and New Jersey records third busiest January ever
Viasea Shipping relaunches London Thamesport service
Sea-Intel notes volume shift from East to West Coast in H2 2024
Port of Savannah receives largest capacity vessel in its history
ILA ratifies new labour contract at US East, Gulf Coast ports
Sea-Intel: 2024 global schedule reliability trend continuing in 2025
Savannah tagged as fastest growing port on the U.S. East Coast
ICTSI's MCT increases renewable energy utilization
DCSA releases final versions of Booking 2.0, Bill of Lading 3.0 standards
Port Klang launches Kale's Malaysia Maritime Single Window
Port of Hamburg reports growth in container throughput, rail transport
Port of Salalah invests US$300M to meet new Gemini Cooperation needs
ONE adopts DCSA eBL standards using GSBN blockchain
Asia-Europe demand to drop once supply chains return to normal
Rating
PORT OF SAVANNAH REPORTS VOLUME SLOWDOWN BUT INCREASED US MARKET SHARE
March 14, 2023
Port of Savannah reported its second busiest February ever last month despite a slight slowdown in volumes compared to the same period in 2022.
Georgia Ports Authority (GPA) said February container trade at the Port of Savannah reached 395,000 TEUs.
"Last month was its second busiest February ever, after 2022, when GPA moved 460,400 TEUs," the GPA announcement said.
"Inflation, rising interest rates and high warehouse inventories are important factors in the container trade dip," it added.
Compared to pre-pandemic numbers in February 2020, GPA noted that last month's performance was an increase of 30,400 TEUs.
For the fiscal year to date through February, GPA has handled 3.8 million TEUs.
"Volume and market share trends show that despite a slowing economy, Georgia is outperforming the competition," said Joel Wooten, GPA board chairman.
"Cargo owners and their logistics providers are mitigating uncertainty through the reliability and connectivity of our deepwater ports," he added.
Increased market share
Meanwhile, citing the latest information from logistics data provider PIERS, GPA noted that it now handles one out of every 8.8 loaded twenty-foot equivalent container units in the US, its highest national market share ever.
It said that the Port of Savannah moved 11.4% of the nation's loaded international containers for Fiscal Year 2023 through December, with more than 2 million TEUs.
GPA’s share of the US container trade constituted an increase of 0.7%, equating to nearly 120,000 TEUs more than it would have moved at its previous market share.
"Our global economy is facing headwinds, but Georgia's deepwater ports continue to deliver dependable performance to keep business thriving," said Griff Lynch, GPA executive director.
"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," he added.
Georgia Ports boosted its portion of US container exports to 12.3% over the period spanning July through December 2022 — up 0.4% compared to the same period in the previous year.
GPA said Savannah's share of the import market rose nearly three-quarters of a point to 11.1% for the fiscal year to date through December.
