Latest news with #GeorgiaPortsAuthority
2 days ago
- Business
Cargo surge amid tariff turmoil drives the Port of Savannah to its 2nd busiest year
SAVANNAH, Ga. -- Retailers scrambling to stock up ahead of anticipated stiff tariffs on imports boosted the Port of Savannah, one of the top U.S. container ports, to its second-busiest year ever, Georgia officials said Tuesday. The Savannah port moved 5.7 million container units of imports and exports across its docks in the 2025 fiscal year that ended June 30, the Georgia Ports Authority reported. That's an increase of 8.6% over the prior fiscal year and just shy of the record 5.76 million container units Savannah handled in fiscal 2022. The growth was caused in part by a surge in cargo since President Donald Trump returned to office in January promising heavy tariffs on China and other U.S. trading partners. But double-digit increases Savannah saw during the spring months were followed by a sizable drop in June container volumes as Trump's on-again, off-again tactics continued to fuel uncertainty. 'It's just going to be this very up-and-down time until things get settled," said Georgia Ports Authority CEO Griff Lynch, who praised Trump's trade deal with the European Union as a step toward restoring stability. 'I'm sure all of it will come together. It's just a matter of timing.' The Port of Savannah is the nation's No. 4 seaport for cargo shipped in containers, giant metal boxes used to transport goods ranging from consumer electronics to frozen chickens by ship, rail and truck. Uncertainty surrounding Trump's tariff policies has resulted in gains, at least in the short term, at other major U.S. ports. A 90-day pause the Republican president placed on new tariffs announced in April gave American retailers and manufacturers a window to build up inventories ahead of new price hikes. What happens to trade volumes in the coming months may depend on a big deadline Friday, when dozens of countries face increased tariffs on goods shipped to the U.S. if they don't reach a deal with the White House. The Port of Los Angeles, the top U.S. container port, reported its busiest June ever to close out fiscal 2025 with 10.5 million container units handled — a 14% increase over the previous year. At the Port of New York and New Jersey, the biggest East Coast port, container volumes from January through May were up 6.5% compared to the same period last year. Gene Seroka, executive director of the Port of Los Angeles, told reporters earlier this month that Trump's tactics have created a 'whipsaw effect' as shipping volumes slow down with new tariff announcements, then surge suddenly to take advantage of delayed tariff start dates. The National Retail Federation is forecasting that cargo containers shipped through U.S. ports will drop by double digits from August through November. At the Port of Savannah, container volume jumped 22.5% in March to 533,995 units and remained above 500,000 container units through May. The streak ended in June, when container volumes fell 9.6% compared to a year earlier. Georgia's nearby Port of Brunswick saw automobile shipments drop 2.2% as it moved 811,042 cars and trucks in fiscal 2025. Lynch said tariffs on auto imports factored into the decline. Last year, Brunswick was the top U.S. port for automobiles after passing the Port of Baltimore, which was shut down for weeks after the deadly collapse of the Francis Scott Key Bridge. Cargo volumes appeared flat in July said Lynch, who anticipates another decline in August. But he said he's optimistic the turbulence won't be prolonged. 'If they can nail these tariffs down, we'll get back to normal trade," Lynch said.
Washington Post
2 days ago
- Business
- Washington Post
Cargo surge amid tariff turmoil drives the Port of Savannah to its 2nd busiest year
SAVANNAH, Ga. — Retailers scrambling to stock up ahead of anticipated stiff tariffs on imports boosted the Port of Savannah, one of the top U.S. container ports, to its second-busiest year ever, Georgia officials said Tuesday. The Savannah port moved 5.7 million container units of imports and exports across its docks in the 2025 fiscal year that ended June 30, the Georgia Ports Authority reported. That's an increase of 8.6% over the prior fiscal year and just shy of the record 5.76 million container units Savannah handled in fiscal 2022. The growth was caused in part by a surge in cargo since President Donald Trump returned to office in January promising heavy tariffs on China and other U.S. trading partners. But double-digit increases Savannah saw during the spring months were followed by a sizable drop in June container volumes as Trump's on-again, off-again tactics continued to fuel uncertainty . 'It's just going to be this very up-and-down time until things get settled,' said Georgia Ports Authority CEO Griff Lynch, who praised Trump's trade deal with the European Union as a step toward restoring stability. 'I'm sure all of it will come together. It's just a matter of timing.' The Port of Savannah is the nation's No. 4 seaport for cargo shipped in containers, giant metal boxes used to transport goods ranging from consumer electronics to frozen chickens by ship, rail and truck. Uncertainty surrounding Trump's tariff policies has resulted in gains, at least in the short term, at other major U.S. ports. A 90-day pause the Republican president placed on new tariffs announced in April gave American retailers and manufacturers a window to build up inventories ahead of new price hikes. What happens to trade volumes in the coming months may depend on a big deadline Friday, when dozens of countries face increased tariffs on goods shipped to the U.S. if they don't reach a deal with the White House. The Port of Los Angeles, the top U.S. container port, reported its busiest June ever to close out fiscal 2025 with 10.5 million container units handled — a 14% increase over the previous year. At the Port of New York and New Jersey, the biggest East Coast port, container volumes from January through May were up 6.5% compared to the same period last year. Gene Seroka, executive director of the Port of Los Angeles, told reporters earlier this month that Trump's tactics have created a 'whipsaw effect' as shipping volumes slow down with new tariff announcements, then surge suddenly to take advantage of delayed tariff start dates. The National Retail Federation is forecasting that cargo containers shipped through U.S. ports will drop by double digits from August through November. At the Port of Savannah, container volume jumped 22.5% in March to 533,995 units and remained above 500,000 container units through May. The streak ended in June, when container volumes fell 9.6% compared to a year earlier. Lynch said paused shipments of automobiles to Georgia prompted by tariffs on foreign cars contributed to a 16% drop in autos moving through the nearby Port of Brunswick in fiscal 2025. Last year, Brunswick was the top U.S. port for automobiles after passing the Port of Baltimore, which was shut down for weeks after the deadly collapse of the Francis Scott Key Bridge . Cargo volumes appeared flat in July said Lynch, who anticipates another decline in August. But he said he's optimistic the turbulence won't be prolonged. 'If they can nail these tariffs down, we'll get back to normal trade,' Lynch said.
The Independent
2 days ago
- Business
- The Independent
Cargo surge amid tariff turmoil drives the Port of Savannah to its 2nd busiest year
Retailers scrambling to stock up ahead of anticipated stiff tariffs on imports boosted the Port of Savannah, one of the top U.S. container ports, to its second-busiest year ever, Georgia officials said Tuesday. The Savannah port moved 5.7 million container units of imports and exports across its docks in the 2025 fiscal year that ended June 30, the Georgia Ports Authority reported. That's an increase of 8.6% over the prior fiscal year and just shy of the record 5.76 million container units Savannah handled in fiscal 2022. The growth was caused in part by a surge in cargo since President Donald Trump returned to office in January promising heavy tariffs on China and other U.S. trading partners. But double-digit increases Savannah saw during the spring months were followed by a sizable drop in June container volumes as Trump's on-again, off-again tactics continued to fuel uncertainty. 'It's just going to be this very up-and-down time until things get settled," said Georgia Ports Authority CEO Griff Lynch, who praised Trump's trade deal with the European Union as a step toward restoring stability. 'I'm sure all of it will come together. It's just a matter of timing.' The Port of Savannah is the nation's No. 4 seaport for cargo shipped in containers, giant metal boxes used to transport goods ranging from consumer electronics to frozen chickens by ship, rail and truck. Uncertainty surrounding Trump's tariff policies has resulted in gains, at least in the short term, at other major U.S. ports. A 90-day pause the Republican president placed on new tariffs announced in April gave American retailers and manufacturers a window to build up inventories ahead of new price hikes. What happens to trade volumes in the coming months may depend on a big deadline Friday, when dozens of countries face increased tariffs on goods shipped to the U.S. if they don't reach a deal with the White House. The Port of Los Angeles, the top U.S. container port, reported its busiest June ever to close out fiscal 2025 with 10.5 million container units handled — a 14% increase over the previous year. At the Port of New York and New Jersey, the biggest East Coast port, container volumes from January through May were up 6.5% compared to the same period last year. Gene Seroka, executive director of the Port of Los Angeles, told reporters earlier this month that Trump's tactics have created a 'whipsaw effect' as shipping volumes slow down with new tariff announcements, then surge suddenly to take advantage of delayed tariff start dates. The National Retail Federation is forecasting that cargo containers shipped through U.S. ports will drop by double digits from August through November. At the Port of Savannah, container volume jumped 22.5% in March to 533,995 units and remained above 500,000 container units through May. The streak ended in June, when container volumes fell 9.6% compared to a year earlier. Lynch said paused shipments of automobiles to Georgia prompted by tariffs on foreign cars contributed to a 16% drop in autos moving through the nearby Port of Brunswick in fiscal 2025. Last year, Brunswick was the top U.S. port for automobiles after passing the Port of Baltimore, which was shut down for weeks after the deadly collapse of the Francis Scott Key Bridge. Cargo volumes appeared flat in July said Lynch, who anticipates another decline in August. But he said he's optimistic the turbulence won't be prolonged. 'If they can nail these tariffs down, we'll get back to normal trade," Lynch said.
Associated Press
2 days ago
- Business
- Associated Press
Cargo surge amid tariff turmoil drives the Port of Savannah to its 2nd busiest year
SAVANNAH, Ga. (AP) — Retailers scrambling to stock up ahead of anticipated stiff tariffs on imports boosted the Port of Savannah, one of the top U.S. container ports, to its second-busiest year ever, Georgia officials said Tuesday. The Savannah port moved 5.7 million container units of imports and exports across its docks in the 2025 fiscal year that ended June 30, the Georgia Ports Authority reported. That's an increase of 8.6% over the prior fiscal year and just shy of the record 5.76 million container units Savannah handled in fiscal 2022. The growth was caused in part by a surge in cargo since President Donald Trump returned to office in January promising heavy tariffs on China and other U.S. trading partners. But double-digit increases Savannah saw during the spring months were followed by a sizable drop in June container volumes as Trump's on-again, off-again tactics continued to fuel uncertainty. 'It's just going to be this very up-and-down time until things get settled,' said Georgia Ports Authority CEO Griff Lynch, who praised Trump's trade deal with the European Union as a step toward restoring stability. 'I'm sure all of it will come together. It's just a matter of timing.' The Port of Savannah is the nation's No. 4 seaport for cargo shipped in containers, giant metal boxes used to transport goods ranging from consumer electronics to frozen chickens by ship, rail and truck. Uncertainty surrounding Trump's tariff policies has resulted in gains, at least in the short term, at other major U.S. ports. A 90-day pause the Republican president placed on new tariffs announced in April gave American retailers and manufacturers a window to build up inventories ahead of new price hikes. What happens to trade volumes in the coming months may depend on a big deadline Friday, when dozens of countries face increased tariffs on goods shipped to the U.S. if they don't reach a deal with the White House. The Port of Los Angeles, the top U.S. container port, reported its busiest June ever to close out fiscal 2025 with 10.5 million container units handled — a 14% increase over the previous year. At the Port of New York and New Jersey, the biggest East Coast port, container volumes from January through May were up 6.5% compared to the same period last year. Gene Seroka, executive director of the Port of Los Angeles, told reporters earlier this month that Trump's tactics have created a 'whipsaw effect' as shipping volumes slow down with new tariff announcements, then surge suddenly to take advantage of delayed tariff start dates. The National Retail Federation is forecasting that cargo containers shipped through U.S. ports will drop by double digits from August through November. At the Port of Savannah, container volume jumped 22.5% in March to 533,995 units and remained above 500,000 container units through May. The streak ended in June, when container volumes fell 9.6% compared to a year earlier. Lynch said paused shipments of automobiles to Georgia prompted by tariffs on foreign cars contributed to a 16% drop in autos moving through the nearby Port of Brunswick in fiscal 2025. Last year, Brunswick was the top U.S. port for automobiles after passing the Port of Baltimore, which was shut down for weeks after the deadly collapse of the Francis Scott Key Bridge. Cargo volumes appeared flat in July said Lynch, who anticipates another decline in August. But he said he's optimistic the turbulence won't be prolonged. 'If they can nail these tariffs down, we'll get back to normal trade,' Lynch said.
Malaysian Reserve
20-06-2025
- Business
- Malaysian Reserve
Dermody Announces Port Wentworth Commerce Center, the Southeast's Largest Logistics Development Near Port of Savannah
SAVANNAH, Ga., June 19, 2025 /PRNewswire/ — Dermody—a diversified private equity investment management company focused exclusively on the national logistics real estate sector—is pleased to announce the launch of Port Wentworth Commerce Center, a master-planned logistics project located 6.5 miles from the Port of Savannah. Expected to be the largest near-port logistics development to begin construction in the Southeastern United States in 2025, the development will offer more than 10 million square feet of logistics real estate and serve as the premier port-centric logistics park on the Eastern Seaboard. Port Wentworth Commerce Center provides immediate access to major transportation infrastructure. Located one mile from Interstate 95, the primary north-south interstate corridor on the East Coast, it also offers Class One rail service from rail located on site. Situated within a designated Foreign Trade Zone, the development allows tenants to defer, reduce or eliminate tariffs on imported goods, providing a competitive advantage for global supply chain operations. 'Port Wentworth Commerce Center is an investment that will serve the growing demand from companies who require modern facilities close to the Port of Savannah in order to meet the needs of the fast growing Southeast region,' said Wes Hardy, Southeast Region Partner for Dermody. 'Few sites in the U.S. offer this scale while also providing immediate access to the fastest growing port in the country, a major interstate, unmatched power availability and rail service. It is a one-of-a-kind project for the Southeast.' The Georgia Ports Authority has collaborated closely with Dermody, recognizing its potential to enhance the region's logistics capabilities. The Georgia Ports Authority owns land that positions the Port of Savannah to grow, keeping pace with demand driven by population growth and shifting demographics. 'We welcome Dermody's logistics investment into our Southeast gateway supply chain ecosystem and the distinctive capabilities it will bring customers,' said Stacy Watson, Georgia Ports Director of Economic and Industrial Development. 'The Port Wentworth Commerce Center is on the doorstep of Georgia Ports' Savannah facility that generates 35 ships per week, 42 double-stack container trains per week and 7,000 trucks per day of business. We will be investing $4.5 billion in the next 10 years to grow the port's capacity and competitiveness, so we need partners like Dermody to grow with us.' The Port of Savannah is the fastest-growing port in the United States and the third busiest seaport in the U.S. The location is the closest to a major U.S. seaport that can accommodate multiple buildings of 1 million SF or greater. The scale of the site, its location in one of the nation's top logistics markets, and its infrastructure support make it ideally suited for companies requiring a solution to their supply chain needs. The development will be supported by best-in-class infrastructure, including a newly constructed 2.5-mile road system currently under construction. The road will be extended in the future to provide a second point of ingress and egress. To streamline the process for customers, all necessary utilities—including water, sewer, power, gas and fiber optics—will be installed along the roadway to ensure operability from the project's inception. The site of the Port Wentworth Commerce Center features exceptional power infrastructure, most notably capacity and availability. It is located adjacent to dual 230KV transmission lines, and a Georgia Power-owned 115KV substation located on-site. The project has been identified as one of a few locations in the State of Georgia with capacity to provide one gigawatt of power service. Its proximity to generation sources—just eight miles north of Georgia Power's Plant McIntosh, a natural gas-powered production facility—reinforces the site's ability and reliability to support high-capacity power users. 'Port Wentworth Commerce Center is transformative and among the most significant industrial ventures on the East Coast,' said Tim Walsh, Partner and Chief Investment Officer for Dermody. 'It represents a generational opportunity to meet surging demand for port-adjacent logistics space and reflects our long-term commitment to investing in critical infrastructure at global trade gateways.' Dermody is represented by Bill Sparks and Preston Andrews of CBRE in Savannah, Georgia. 'We are honored and thrilled to represent Port Wentworth Commerce Center, a project providing a special combination of near-port and interstate access, scale, CSX rail, and heavy utility readiness in Savannah, one of the most dynamic logistics markets in the country,' said Bill Sparks, Executive Vice President with CBRE. 'The development is well-positioned to immediately meet the needs of a wide variety of companies, size requirements and uses.' Dermody's Southeast Region spans nine states, with particular focus on the major logistics markets of Atlanta, Savannah, Nashville, Charlotte and Central Florida. The region currently has four projects under construction and more than 1,500,000 SF available for lease. For more information on those properties, please visit the region page on Dermody's website. A map is available here and an aerial view is available here. About DermodyDermody is a privately-owned real estate investment, development and management firm that specializes in the acquisition and development of logistics real estate in strategic locations for e-commerce fulfillment centers, third-party logistics and distribution customers. Founded in 1960, Dermody has invested more than $10 billion of total capital across all platforms nationwide, having acquired and developed approximately 110 million square feet of logistics and industrial facilities. In addition to its corporate office in Reno, Nevada, it has regional offices in Atlanta, Chicago, Dallas, Indianapolis, New Jersey, Northern California, Phoenix, Seattle and Southern California. For more information, visit CONTACT: Nicole Shearer, KPS3, 530-448-6485
