Current:Home > FinanceGeorgia seaports handled a record number of automobiles in 2023 while container trade dropped 16% -FinTechWorld
Georgia seaports handled a record number of automobiles in 2023 while container trade dropped 16%
View
Date:2025-04-16 21:22:21
SAVANNAH, Ga. (AP) — The Georgia Ports Authority said Tuesday that it moved a record number of automobiles across its docks in Brunswick last year, while goods shipped to Savannah in cargo containers declined 16%.
The Port of Brunswick rolled more than 775,000 autos and heavy machinery units on and off ships in the 2023 calendar year, when U.S. auto sales saw their biggest increase in more than a decade. That is the port’s highest ever auto and machinery total and an increase of more than 15% over the previous year.
The news comes as port authority CEO Griff Lynch has set a goal of Brunswick surpassing the Port of Baltimore as the No. 1 U.S. port for automobile imports and exports. The Georgia agency is investing $262 million in upgrades and expansions to make room for growth at the Brunswick port, located about 70 miles (112 kilometers) south of Savannah.
“We have been investing in Brunswick. We’ve been creating capacity in Brunswick,” Lynch said in an interview, adding that more growth is possible in 2024. “Autos are strong. I mean, the economy will drive the autos, so we’ll have to see how that plays out. But right now, they’re strong.”
Auto shipments into Georgia boomed last year as sales surged amid pent-up demand following a computer chip shortage that slowed assembly lines.
Georgia’s push to become a Southern hub for electric vehicle production is expected to send more autos across Brunswick’s docks in the coming years. Hyundai is building its first U.S. plant dedicated to EVs west of Savannah, while electric truck maker Rivian is constructing a factory east of Atlanta. Kia last summer announced an expansion of its plant in West Point to manufacture electric SUVs.
Meanwhile, the Port of Savannah saw a notable dip in cargo shipped in containers, the giant metal boxes used to pack retail goods from consumer electronics to frozen chickens. Savannah is the fourth-busiest U.S. seaport for containerized cargo, behind only New York, Los Angeles and Long Beach, California.
Savannah handled 4.9 million container units of imports and exports last year, down 16% compared with calendar 2022. Lynch said retailers ordered less inventory as inflation and higher interest rates cooled consumer spending.
That could be changing. Savannah’s container numbers for January are on track to outpace the same month last year, and Lynch said he anticipates that trend will continue in the coming months.
“I fully believe that when we look at February and March and April, we should see some positive numbers year-over-year,” Lynch said. “The numbers are stronger than we anticipated.”
veryGood! (6653)
Related
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- The 10 college football coaches with the hottest hot seat entering this season
- Gigi Hadid Shares Rare Glimpse of Daughter Khai Malik in Summer Photo Diary
- Steve Kerr's DNC speech shows why he's one of the great activists of our time
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Voters in Arizona and Montana can decide on constitutional right to abortion
- Kentucky’s new education chief promotes ambitious agenda
- ESPN tabs Mike Greenberg as Sam Ponder's replacement for 'NFL Sunday Countdown' show
- Senate begins final push to expand Social Security benefits for millions of people
- Jennifer Lopez files for divorce from Ben Affleck after 2 years of marriage
Ranking
- Pregnant Kylie Kelce Shares Hilarious Question Her Daughter Asked Jason Kelce Amid Rising Fame
- Why Everyone Is Obsessed With the Momcozy Nursing & Pumping Bra (Even if They’re Not a Mom)
- Los Angeles FC vs. Colorado Rapids Leagues Cup semifinal: How to watch Wednesday's game
- Georgia counties urge state elections board to stop changing rules ahead of November
- US wholesale inflation accelerated in November in sign that some price pressures remain elevated
- Paris Hilton's New Y2K Album on Pink Vinyl & Signed? Yas, Please. Here's How to Get It.
- When is the first day of fall? What to know about the start of the autumnal season
- Taylor Swift sings with 'producer of the century' Jack Antonoff in London
Recommendation
This was the average Social Security benefit in 2004, and here's what it is now
North Carolina elections board OKs university ID on phones for voter access this fall
The Daily Money: Scammers on campus
Why Adam Sandler Doesn't Recommend His Daughters Watch His New Comedy Special
Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
Oklahoma State football to wear QR codes on helmets for team NIL fund
School choice and a history of segregation collide as one Florida county shutters its rural schools
How Ben Affleck Hinted at Being Incompatible With Jennifer Lopez Months Before Split