Another Record Year for GPA
In his yesterday’s State of the Port address, Georgia Ports Authority Executive Director Curtis Foltz reported on a year of extraordinary growth, and provided a review of the $142 million fiscal year 2016 capital expenditure plan.
“Georgia is making the investments necessary to maintain and strengthen our position as the premier gateway for trade to the U.S. Southeast,” said GPA Board Vice Chairman James Allgood.
“Our port customers want partners who are investing not only for today, but for the long term. By expanding and modernizing our transportation network, we ensure the fast, reliable delivery of goods to important markets at home and abroad.”
Included in the plan to significantly increase capacity at the Garden City Terminal is a new empty container depot that will add more than 15,000 twenty-foot equivalent container slots.
Foltz also detailed plans for the new Gate 8 which will add eight additional interchange lanes by March of next year. In addition, the authority is expected to receive four new ship-to-shore cranes, for a total of 26, and 30 new rubber-tired gantry cranes for a total of 146 in FY16, Foltz said.
“In Fiscal Year 2015, we experienced unprecedented growth, with West Coast diversions to East Coast ports, a recovering U.S. economy and import market share gains leading to all-time highs in cargo volume,” Foltz told a crowd of more than 1,300.
“The fact we were able to handle this influx of business without congestion has opened doors to long-term opportunities for Georgia. This new improvement plan will continue to keep Savannah’s capacity ahead of demand.”
Foltz also detailed progress toward deepening the Savannah Harbor.
Earlier this month the 300-foot Great Lakes Dredge and Dock vessel the Alaska began work on a $134.5 million contract issued to dredge the 18.5-mile outer harbor to 49 feet at mean low water.
Better accommodating Post-Panamax vessels in Savannah will reduce transportation costs for U.S. companies moving goods through the port by 20 to 40 percent.