The Georgia Ports Authority (GPA) saw cargo volumes decline in the fiscal year 2023.
Georgia Ports handled a total of 5.4 million twenty-foot equivalent container units (TEUs) in FY2023, down 6.7% or 387,000 TEUs compared to FY2022 — which is the port's all-time high.
Despite the decline year-on-year, GPA noted that the figures are, however, higher than the pre-pandemic volumes of 4.5 million TEUs recorded in FY2019 or a 20% rise over the said period.
GPA said the compound annual growth rate since FY 2019 is 4.7% per year.
"The Port of Brunswick achieved strong growth in the import and export of heavy machinery, while auto manufacturers' improved microchip supply also meant an increase in vehicles," said Griff Lynch, president and CEO of the GPA.
"I'd like to thank our customers for their continued confidence in Brunswick as a superior gateway to the US and the auto processors for the world-class service they are providing," he added.
Georgia Ports handled record Roll-on/Roll-off volumes in the fiscal year 2023, at more than 723,500 units, an increase of 18% or nearly 109,000 units over the previous year.
GPA said Ro/Ro imports were up by 99,000 units year-over-year, or 24%, while exports increased by 11,500 units or more than 7%.
Port of Savannah increases market share
According to the most recent PIERS data, the Port of Savannah achieved an 11.2% market share in container trade among US ports on the East, West and Gulf coasts through April, its highest ever.
"This continues a trend stemming from the US Southeast's fast-growing population, increased domestic production and a shift in overseas manufacturing toward India and Southeast Asia, favouring delivery via Savannah," Lynch said.
"I'd like to commend GPA employees and our partners at Gateway Terminals and the International Longshoremen's Association for their outstanding work during our second busiest year ever," the GPA chief added.
Meanwhile, Kent Fountain, GPA Board Chairman, noted the "steady long-term growth" of Georgia Ports.
"These are certainly contributing factors behind Area Development magazine ranking Georgia as the top state for doing business since 2014," he said.
To prepare for future demand, GPA noted that it is investing US$1.9 billion in current infrastructure projects.
Enhancements include renovations to Berth 1 at Garden City Terminal, increasing berth capacity there by 25%. An improved Berth 1 reopened to vessel service on July 20, providing faster turn times for ocean carriers.
A new transload facility will also deliver greater speed and flexibility for customers in cargo handling, while the Garden City West development adds 100 acres of long-term storage available at a lower cost than in the regular container yard.
More investments in Georgia Ports
GPA said upgrades now under construction at the Port of Brunswick include 640,000 square feet of new processing space across five new buildings and 122 acres of additional auto storage.
The new acreage will increase Ro/Ro capacity from 1.2 million to 1.4 million vehicles per year.
Two near-dock warehouses and three buildings on the south side of Colonel's Island start coming online in August.
GPA said it has also won federal approval to construct a fourth Ro/Ro berth at Colonel's Island. Currently, in the engineering phase, Berth 4 will better accommodate carriers in the 7,000-vehicle class.
"New business and new capacity are establishing the Port of Brunswick as the nation’s premier auto port," Fountain said.
"Already the largest US terminal in current acreage and room to grow, Colonel's Island offers exporters a broad ocean carrier network and provides importers easy access to the region's dealerships," he added.
GPA also noted that Brunswick is "well positioned for short-sea trade out of Mexico."
"As manufacturers continue to invest and ramp up production in that region, Colonel's Island is in a strong position to capitalize on this trade lane," said Cliff Pyron, chief commercial officer at GPA.
"We have already begun to see the benefits of Brunswick's first port-of-call status from Mexico," he added.
