THE Georgia Ports Authority (GPA) handled a record 437,750 TEU in August, representing a year-on-year increase of 16.5 per cent.
"We're seeing an early and strong start
to peak season at the port of Savannah," GPA executive director Griff
Lynch was quoted as saying in a report by AJOT. "In addition to
expanding trade on our regular weekly services, shipping lines are
adding calls by sweeper ships to meet rising demand."
In August, GPA accommodated eight extra ships plus its regular 37 weekly
vessel calls, adding 20,000 TEU to the month's throughput. Mr Lynch
highlighted that increased business through the port of Savannah is
driving private investment, although the industrial vacancy rate remains
low. Of structures offering 100,000 square feet or more, the vacancy
rate is 1.42 per cent.
"At GPA, we're making a call to action for private developers to enter
or expand in this very active market," said GPA board chairman Will
McKnight. "Within a 30-mile radius of the port of Savannah, there are
more than 20,000 acres of industrial park space ready for development."
Over the past two years, property that the Georgia Ports Authority put
on the market within its Savannah River International Trade Park has
been developed, adding five million square feet of distribution space.
At its September meeting, the GPA Board approved US$3.75 million in road
improvement projects to avoid truck congestion at the trade park.
New construction in fiscal year 2019 added 10.7 million square feet of
industrial space across the Savannah market, for a total of 67.7 million
square feet, most of which has already been occupied.
In April, California-based Plastic Express, in conjunction with Capital
Development Partners, unveiled plans to invest $172 million in a new 2.4
million square foot Savannah facility. The first phase of the
rail-served location is due to commence operations in November.