The Georgia Ports Authority (GA) recorded container volumes of 367,880 TEUs in March 2023, compared to 444,690 TEUs in the same month in 2022.
An important factor in current trade volumes, according to GPA, is reduced orders from large general merchandise retailers, as the companies work through overstocked inventories. Additionally, rising interest rates and reduced buying power caused by inflation have exerted downward pressure on consumer spending.
As more cargo owners choose a “four corners” strategy for cargo movement, business continues to transfer to Savannah from the West Coast, said the port authority in a statement.
“As new customers discover the ease of doing business on the East Coast, many are increasing the percentage of their total trade routed through Savannah,” noted Georgia Port Authority.
Meanwhile, GPA now handles one out of every 8.8 loaded TEUs in the United States, its highest national market share ever.
