Current:Home > StocksGeorgia seaports handled a record number of automobiles in 2023 while container trade dropped 16% -AssetTrainer
Georgia seaports handled a record number of automobiles in 2023 while container trade dropped 16%
View
Date:2025-04-26 07:06:20
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! (54372)
Related
- The Daily Money: Spending more on holiday travel?
- UN Climate Summit: Small Countries Step Up While Major Emitters Are Silent, and a Teen Takes World Leaders to Task
- RSV is surging. Here's what to watch for and answers about treatment options
- Carrying out executions took a secret toll on workers — then changed their politics
- New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
- Too many Black babies are dying. Birth workers in Kansas fight to keep them alive
- Oil and Gas Quakes Have Long Been Shaking Texas, New Research Finds
- 6-year-old boy shoots infant sibling twice after getting hold of a gun in Detroit
- DoorDash steps up driver ID checks after traffic safety complaints
- Fossil Fuel Allies in Congress Target Meteorologists’ Climate Science Training
Ranking
- Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
- Joran van der Sloot, prime suspect in Natalee Holloway's 2005 disappearance, pleads not guilty to extortion charges
- Spikes in U.S. Air Pollution Linked to Warming Climate
- Regulators Pin Uncontrolled Oil Sands Leaks on Company’s Extraction Methods, Geohazards
- 'We're reborn!' Gazans express joy at returning home to north
- Kim Kardashian’s SKIMS Wedding Shop Has You Covered for the Big Day and Beyond
- Hoda Kotb Recalls Moving Moment With Daughter Hope's Nurse Amid Recent Hospitalization
- Tom Holland says he's taking a year off after filming The Crowded Room
Recommendation
The Super Bowl could end in a 'three
Warren Buffett Faces Pressure to Invest for the Climate, Not Just for Profit
This is America's most common text-messaging scam, FTC says
Colorado Court Strikes Down Local Fracking Restrictions
Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
Shaquil Barrett's Wife Jordanna Gets Tattoo Honoring Late Daughter After Her Tragic Drowning Death
Regulators Pin Uncontrolled Oil Sands Leaks on Company’s Extraction Methods, Geohazards
This week on Sunday Morning (June 11)