The Georgia Ports Authority saw a 2.3 percent decline in container trade during Fiscal Year 2024, the first full fiscal year not affected by pandemic-related consumer spending. (Georgia Ports Authority)
Handles 5.25 million TEUs in fiscal year 2024; RoRo volumes up 21 percent
At the Georgia Ports Authority (GPA) Board meeting, President and CEO Griff Lynch reported GPA handled 5.25 million twenty-foot equivalent container units in fiscal year 2024, which ended June 30, 2024. The performance constitutes a decrease of 2.3 percent or 123,000 TEUs compared to the previous year.
“While we experienced lower container volumes, we have been through cycles before and are optimistic about the future,” Lynch said.
Compared to the pre-pandemic year of FY2019, GPA’s fiscal performance equates to a 3 percent compound annual growth rate.
Despite the slight decline in volumes, Georgia Ports continues to have one of the nation’s best connectivity rankings in the nation with 35+ vessels calling every week in Savannah. The Authority recently completed construction of its new Garden City Terminal West facility and continues to add new Ship-to Shore cranes and Rubber Tire Gantry cranes built by the Finnish company, Konecranes. Georgia Ports is the only operator in the U.S. using 100 percent Konecranes in its fleet.
Georgia Ports’ long-term vision to support future growth is closely coordinated with the Georgia Department of Transportation’s (GDOT) integrated roadway efforts. Governor Brian Kemp announced a $1.5 billion Transportation Infrastructure Investment including a $500 million freight program for 18 freight carrying infrastructure projects that improve efficiency, safety and reliability for the transportation of goods across Georgia.
“At Georgia Ports, our philosophy is to continue investing for the future, even during slower periods, so that we are ready for the next up cycle,” said GPA Board Chairman Kent Fountain. “That’s how we have built one of the most reliable operations in global logistics.”
Also at the board meeting, Chairman Fountain reported that Georgia Gov. Brian Kemp had reappointed Vice Chairman Alec L. Poitevint, II, Secretary-Treasurer Christopher C. Womack and members David J. Cyr and Don A. Grantham, Sr. to the Georgia Ports Authority Board.
Port of Brunswick
The Georgia Ports Authority had a record year in Roll-on/Roll-off cargo, handling 876,000 units of autos and high/heavy machinery in FY2024, an increase of 21 percent or 152,435 units compared to FY2023.
Growth factors included demand from American consumers, growing import-export trade with both Europe and Asia, new car manufacturers choosing Brunswick, and diverted cargo from Baltimore during April and May.
Last fiscal year, GPA brought online 120 acres of Ro/Ro storage at Colonel’s Island. Another 300 acres are available for expansion, giving Colonel’s Island more room to grow than any other U.S. auto port. GPA has also added 640,000 square feet of warehousing and processing space. Annual capacity at Colonel’s Island has now increased 40 percent to 1.4 million units.
About Georgia Ports
Georgia’s ports and inland terminals support more than 609,000 jobs throughout the state annually, contributing $40 billion in income, $171 billion in revenue and $5.3 billion in state and local taxes to Georgia’s economy. GPA anticipates investing $4.5 billion in the next ten years as part of its port master plan to expand cargo handling capabilities to support future supply chain requirements. As part of GPA’s community engagement efforts, $6 million will be donated to communities located near the Port of Savannah to support a multi-year, local workforce housing initiative. CNBC ranked Georgia #1 in the U.S. for infrastructure in America’s Top States for Business in 2023. Area Development – a site selection news outlet for the U.S., has ranked Georgia as the Top State to Do Business for ten consecutive years. For further information, visit gaports.com or contact Chief Communications Officer Tom Boyd at tboyd@gaports.com 912-964-3884.
