Ga. Ports report strong start to fiscal year 2013

Published: October 9, 2012 by The Associated Press

 

SAVANNAH, Ga. — The Georgia Ports Authority says the states shipping terminals in Savannah and Brunswick are off to a promising start in the new fiscal year that started July 1.

Georgia ports chief Curtis Foltz says the Savannah port handled more than 522,000 containers in July and August, an increase of 4.4 percent from the prior year. Overall tonnage of cargo moving through Savannah and Brunswick was up 5.6 percent to more than 4.5 million tons of imports and exports during the same two months.

The increased container traffic through Savannah was caused entirely by a very strong August. Port officials reported container traffic in July actually dipped 4 percent compared to the previous year.

Foltz released the figures Monday as the port authority's board met in Brunswick.

Read more here: http://www.macon.com/2012/10/09/2206443/ga-ports-report-strong-start-to.html#storylink=cpy

 

Read the full article at Ga. Ports report strong start to fiscal year 2013              

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Q2 2012 AASU Economic Report

Armstrong Atlantic State University in Savannah, Ga. published the Coastal Empire Economic Monitor last week.

Summary: The Savannah MSA saw moderate growth in the last quarter and economic forecasts are positive. Poor national and international political and economic decisions could undermine this growth in Q3 and 2013. Click on each image to view in a larger frame.

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Ga. economy forecasted to stall, Athens to sputter

Summary: Political uncertainty in Washington and Atlanta is causing the economy to be cautious now and reserved in the near future. Return here for an update on the Port's activity on September 6th! Create your own fiscal cliff parachute with income producing property!

Key Quotes:  

Political uncertainty is stalling the Georgia and U.S. economies at a time when the power of the state’s second-largest economic engine — its ports — is losing strength, one prominent forecaster warned Wednesday.

Also released Wednesday, a Federal Reserve survey shows business professionals in the Southeast are expecting inflation to rise. 

Both corporate and consumer confidence has been shaken by questions about the election and what Washington will do about coming tax increases and deep spending cuts known as the “fiscal cliff” triggered by congressional failure last year to reduce the federal deficit.

Georgia-based military contractors and installations are bracing for the sting of the cuts.

Rajeev Dhawan, director of the Forecasting Center, said rising oil prices and falling demand for exports add to other factors to push the “pause” button.

“The impact of the slowing global economy already is being felt in Savannah, where growth has decelerated sharply in the past six months, and where port traffic and future expansion will take a hit in coming months,” he said. 

Dhawan is forecasting 1.1 percent job-growth rate for Georgia and an unemployment rate stuck near 9.2 percent for the next two years. 

Read the full article at Ga. economy forecasted to stall, Athens to sputter

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga 

Port of Savannah loses out as Disney begins imports through Jacksonville

By Associated Press Wire
June 19, 2012 03:21 PM

This is a short and to the point article so I am reposting it here entirely.

AP Photo/Florida Times-Union, Bruce Lipsky

JACKSONVILLE, Fla. (AP) — Mickey Mouse ears, Tinker Bell tumblers, Snow White nightshirts and other Walt Disney World souvenirs will be imported through the Port of Jacksonville.

Mickey himself was on hand at the port Tuesday for the announcement by Walt Disney Parks and Resorts.

So were Gov. Rick Scott, Lt. Gov. Jennifer Carroll as well as Disney and port officials.

Disney previously imported merchandise for its central Florida attractions through Savannah, Ga. Officials say a quarter of the cargo will continue to flow through the Georgia port but the remaining 75 percent will come through Jacksonville.

It's part of efforts by Scott and Florida business leaders to boost the state's economy by increasing activity at its ports.
Read the full article at Port of Savannah loses out as Disney begins imports through Jacksonville

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

SHEP "invasive", "sketchy" says Charleston Post and Courier

Court will put DHEC to test Posted: Monday, June 4, 2012 12:27 a.m

Summary: Editorial hopes the S.C. Supreme Court with see through legal morass and decide against DHEC.

Key Quotes:

Plaintiffs say the DHEC board acted inappropriately when, after Gov. Nikki Haley intervened in the process, it reversed an earlier decision and approved a water quality permit for Georgia. We agree.

If the Supreme Court agrees that DHEC was in the wrong, the prospect for stopping the ill-advised plan improves.

Yes, it will slow down the Georgia Ports Authority in its environmentally sketchy plan to dredge the Savannah River. But when you tease apart the controversial details, you still get a system that awards federal dollars to projects with the most political muscle instead of the most merit.

The disputatious situation calls for a more reasonable approach to funding projects like the dredging of the Savannah River and of Charleston Harbor.

The S.C. State Ports Authority believes the Charleston Harbor dredging proposal would fare well if it were compared to the much more expensive ($600 million) and environmentally invasive Savannah River proposal. And industry analysts suggest that only one of the projects is necessary.

Read the full article at Court will put DHEC to test.

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Troy Expands again with Savannah, GA Freight Station

This article is short so I'm just posting it entirely.

press release Tuesday, May 29, 2012

Georgia-Based Warehouse Marks 21st Export Receiving Station for International Shipper.

Troy Container Line, one the world’s largest American-owned NVOCCs, today announced it will open a new container freight station on June 1, 2012 in Savannah, Georgia.  Located just eight miles from the Port of Savannah, the new CFS location is strategically placed between Charleston and Miami, and offers enhanced convenience and service to the South Atlantic marketplace.

The 175,000-square-foot facility includes 47 dock doors and a C-TPAT approved security system.  It marks Troy Container Line’s twenty-first warehouse location in the continental U.S. and will conveniently serve the local market, as well as customers across six continents.

“At Troy Container Line, we continually evolve to meet the needs of our growing client base,” commented Patricia L. Fitzgerald, COO of Exports.  “In conjunction with our Charlotte, N.C. office and Miami warehouse, the Savannah container freight station solidifies Troy Container Line’s growing presence in the South Atlantic United States.”

Having recently celebrated its 28-year anniversary, the Savannah warehouse is just one of many additions to Troy Container Line’s shipping capabilities.  The NVOCC recently announced a new Chicago to Rotterdam service, as well as a direct consolidation service to Liverpool and Manchester, England earlier this year. To learn more about Troy Container Line, please visit the company’s new website www.TroyLines.com or call 1-800-331-0058. 

Read the full article at Troy Expands again with Savannah, GA Freight Station

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Why You Should Start A Company In... Savannah

BY Jude Stewart | 05-15-2012 | 12:07 PM

Steve Weathers, president and CEO of the Savannah Economic Development Authority, shares five things you need to know about opening a business in the Hostess City of the South.

The Key Reasons:

1. Number Four port in the nation by container weight = a major supply chain.
2. New WTC and thriving venture capitalism through SEDA Ventures
3. Plenty of area support for start-ups.
4. Universities galore.
5. A potential San Diego

Read the full article at Why You Should Start A Company In... Savannah by Fast Company.
A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Ports project key to recovery

Tuesday April 3, 2012

By Curtis J. Foltz

The Georgia Ports Authority connects the Southeast’s economy to the global marketplace, generating opportunities for the entire region. As the fourth-busiest container port in the nation, the Port of Savannah was responsible for moving 8.7 percent of the U.S. containerized cargo volume in fiscal 2011 and 12.5 percent of all U.S. containerized exports.

Because shipping companies will grow their reliance on post-Panamax vessels after the 2014 expansion of the Panama Canal, it is imperative to keep pace with the evolving demands of world trade. One of the most important and productive civil works projects in the country, the Savannah Harbor Expansion Project will reduce the cost of shipping and improve our nation’s competitiveness.

The project has seen steady progress, with the state having budgeted $134.4 million toward its completion, and Gov. Nathan Deal seeking another $46.7 million in his fiscal 2013 budget request. The federal government has announced another $5.8 million — in part from a fund created by Congress and in part from a $2.8 million line-item in the president’s fiscal 2013 budget proposal.

The additional federal funds will allow the U.S. Army Corps of Engineers to prepare for the construction phase of the harbor deepening. The Corps of Engineers soon will release its final plan documents for SHEP, clearing the way for federal approvals and construction of the project.

This work is needed because Georgia’s deepwater ports are key to the nation’s economic recovery, encouraging development across a wide array of industries. Despite challenging times, Georgia’s ports generate substantial economic impacts, having supported job growth even during the worst recession in generations.

According to a 2009 study by the University of Georgia’s Terry College of Business, Georgia’s deepwater ports support 295,422 full- and part-time jobs. One job out of every 15 in Georgia is in some way dependent upon its ports. Georgia’s deepwater ports account for $61.7 billion in annual sales, $15.5 billion in income and $2.6 billion in state and local taxes.

Ranked by compounded annual growth rate, the Port of Savannah has been the fastest-growing, major-container port in the nation for 10 years, outpacing the growth of the nearest competitor by two to one.

Maintaining this preferred position among port users is key to state and regional recovery because the nation’s ports are among the first segments of the economy to turn around after a recession.

One of the keys to Georgia’s success in international trade can be attributed to its customer-driven and focused approach. Because Georgia owns and operates many of its deepwater terminals, the GPA has increased flexibility to devote space, equipment and manpower as needed to every customer. For instance, necessary dock space can be allotted with no waiting for proprietary berths. This flexibility allows Georgia to attract and handle more cargo, creating jobs and economic opportunities across the supply chain.

Among the most cost-effective and efficient facilities in the nation, the Ports of Savannah and Brunswick give Georgia a compelling advantage in the competition to win jobs and development.

Curtis J. Foltz is executive director of the Georgia Ports Authority.

Read the full article at Ports project key to recovery.

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Port project will rev economy, create jobs

Tuesday, April 3, 2012

By Johnny Isakson and Saxby Chambliss

The twin engines that drive the economy of Georgia and most of the Southeast are Hartsfield-Jackson International Airport and the Port of Savannah. We take seriously the provision in the U.S. Constitution that grants Congress the power to regulate commerce, including our navigational waterways and ports.

The Port of Savannah is the second-largest container port on the East Coast. It is the fourth-largest in the country. More than 20,975 companies throughout all 50 states utilize the Port of Savannah.

The Georgia Ports Authority and Georgia are leading the way in the nation by undertaking a project to deepen the Savannah port’s channel up to 48 feet. It’s a direct response to the Panama Canal’s expansion and widening.

As a result, shipping vessels are modernizing their fleets and purchasing larger vessels. To accommodate these vessels, improvements must be made to our nation’s existing infrastructure, including Savannah. 

Sen. Johnny Isakson, R-Ga. and Sen. Saxby Chambliss, R-Ga.

Deepening the port will protect existing jobs and create ones as these larger vessels call in the Port of Savannah. Economic growth throughout the East Coast and Midwest could be dramatically weakened if the port cannot be expanded to accommodate the larger vessels that will soon dominate ocean commerce.

At a time when the administration seeks to invest in projects that will create jobs in America, this project in Savannah is a perfect fit. Studies show that expanding the port would only help the goals of creating jobs as well as stimulating economic growth.

Opponents of the harbor expansion who cite “too many unknowns” about the project fail to consider certain irrefutable facts.

For example, the project has been studied and reviewed by engineers, environmentalists and economists since 1999. It’s one of the most studied projects in our state’s history. Independent studies conducted by the U.S. Army Engineer Institute for Water Resources and the Center of Expertise for Deep Draft Navigation show this investment in Savannah will have a benefit-to-cost ratio of nearly five to one. For every dollar spent, the economic benefit is five times as many dollars.

Additionally, as a result of the recommendations of federal, state and local natural-resource agencies, as well as independent environmental groups who participated in these studies over the past decade, the project contains long-term funding for unprecedented amounts of environmental mitigation. There are no “unknowns” regarding the Savannah Harbor project. 

It’s critically important that we expand the harbor to ensure that it serves as a gateway for business to Georgia and the nation. We will work relentlessly alongside state and members of the Georgia delegation to create jobs and stimulate economic growth in Georgia and the Southeast.
Read the full article in the AJC at Port project will rev economy, create jobs
.
A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Georgia ports boosted volume, advanced harbor-deepening project in 2011

Posted 1/25/2012 on Progressive Railroading

 

On Monday, the Georgia Ports Authority (GPA) announced its ports in Savannah and Brunswick registered record volumes in 2011. The ports handled 26.1 million tons of cargo, up 4.3 percent compared with 2010 volumes.

In terms of container volume, the Savannah port handled a record 2.95 million 20-foot equivalent units (TEUs), up 3.5 percent year over year. The Brunswick port handled a record 495,000 auto and machinery units, a 23 percent increase.

The authority’s position as the nation’s No. 2 export port “provides a clear and compelling case” for advancing the Savannah Harbor Expansion Project (SHEP), said GPA Chairman Alec Poitevint in a prepared statement. The Savannah port, which is served by CSX Transportation and Norfolk Southern Railway, is the nation’s fourth-largest container port and needs to accommodate larger ships to prepare for the Panama Canal expansion in 2014, according to the GPA. SHEP calls for deepening the harbor’s depth from 42 foot to as much as 48 feet.

Work to deepen Savannah Harbor “is precisely the type of effort that will bring sustainable economic recovery to the United States,” said Poitevint. Last year, the GPA finalized the SHEP study and moved the project toward construction. The project has secured $134 million in state funds and Gov. Nathan Deal has proposed an additional $46.7 million.

Read the full article at Georgia ports boosted volume, advanced harbor-deepening project in 2011.

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Savannah’s port and the regulatory problem

I like Kyle Wingfield's opinion pieces. They're nicely put together.

Here's one worth reading if you didn't catch it in the AJC: Savannah’s port and the regulatory problem.

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

2012: Better? More of the Same? or Total Economic Chaos?

CoStar News Readers Give Us Their Best Bets for What's Coming in the New Year By Mark Heschmeyer
January 4, 2012

Summary: The industry leaders predict growth, stagnation and collapse of the commercial real estate market place in the United States in 2012. The leaders with positive outlooks focus on particular cities. The leaders with moderate outlooks focus on sector performance. For example, Grubb and Ellis project a 25% increase in CRE sales, assuming that the GDP grows by 2.5% and 125,000 new jobs are added each month. Dismal outlooks are based on the broad U.S. economy.

Each person backs their position with strong arugments, leaving CoStar to split the difference and posit that 2012 will be just like 2011- modest, timid growth. Because Savannah relies on its port, and because the logistics CRE market is projected to see growth, I think Savannah will be fine. I personally think the most dismal outlooks will come to fruition not all once in 2012, but most likely further down the road.  It seems that all of us "Debbie Downers" recently read "When Giants Fall" and expecting the worst.

Key Quotes:
Among the top expectations: Banks and servicers will continue to jettison the worst performing assets and seek to workout recapitalization opportunities on the better-quality assets. Similarly, institutional property investors will also continue to reposition their portfolios away from secondary markets in favor of core stable assets in primary metropolitan markets.

Multifamily properties will continue their hot streak as pent up and new demand will keep vacancies low and spur continued new construction and property retrofitting of older other property type buildings.

And, both U.S. political inaction/posturing in an election year and world economic uncertainty will continue to weigh down true recovery.

Read the full article at 2012: Better? More of the Same? or Total Economic Chaos?

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

The right site, at the right price

From http://www.dcvelocity.com/

Strategy December 31, 2011

special report | Warehousing

By John K. Boyd Jr.

Summary: Rising fuel costs and a sputtering economy means warehouse site selection is essential for companies to save money. Important factors are location, shipping costs, right-to-work states and community and state incentives.

Key Quotes:

With fuel and shipping rates projected to rise significantly in 2012 and beyond, comparative costs in areas like labor, property taxes, energy, and real estate are under the site selection microscope like never before.

For many [companies] , a less-than-optimum operating cost structure for their warehouses can compromise their competitive position for years.

These costs are expected to rise throughout the coming year. Despite continued advancements in warehouse automation technologies, overall operating costs for distribution warehousing are expected to increase by 14 to 16 percent in 2012 due to a rise in diesel fuel costs, above-average utility rate increases, and recovering real estate markets in most locales.

Container shipments are projected to increase tremendously at U.S. East Coast ports, creating inland warehouse opportunities (not unlike California's Inland Empire) for communities situated within a few hours' drive by truck from deepwater ports in Miami and Jacksonville, Fla.; Savannah, Ga.; Charleston, S.C.; Norfolk, Va.; Baltimore, Md.; Wilmington, Del.; Newark/Elizabeth, N.J.; and Boston, Mass.

To read the full article see The right site, at the right price.

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

New distribution center to open in January

December 18, 2011 - 12:37am

By Adam Van Brimmer

 

 Summary: The Judge Organization opens a 266,700 square-foot warehouse and distribution center in the CenterPoint Intermodal Center in mid January.

 

 

Key Quotes:

“Savannah is really an attractive port because of the export business, and the ports and the Savannah Economic Development Authority provide a good climate for business. And Savannah has always had the connections to the Far East more so than other southern ports,” said the company’s executive vice president, Patrick Wynne.

Judge’s increased traffic through the port will create a ripple effect in terms of creating indirect jobs, SEDA President Steve Weathers told his board of directors in November.

Read the full article at New distribution center to open in January

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Should a Business Buy Its Own Building?

Summary: You should consider purchasing a property for your business if it means you still have a diversified portfolio. Purchasing a building and then working harder to pay it off means you've put all your assets into your business, which is unbalanced and not advised by most investment professionals.

Key Quotes:
Since [January], vacancy rates have dropped a little in most markets and rents have stabilized. However, very little new construction has been completed, and what has been built is almost all owner-occupied or build-to-suit. Almost no speculative real estate has been constructed this past year. Thus when the economy improves, rents will rise immediately. Normally developers see this coming and put up new buildings in anticipation of better conditions, but that isn’t happening.

That’s the argument for our small business owner buying his own building, but there’s another side to consider. This fellow has almost his entire net worth tied up in his company. Like many other entrepreneurs, he’s thinking about buying a building as a personal asset or through a separate company. Then his business would sign a long-term lease for the property.

Many business owners have succeeded with this approach, but there’s a large risk. This owner is thinking about retiring in a few years, selling his business at that time. Many small businesses are sold with seller financing, meaning he would get a portion of the price up front, and then the buyer would pay the rest of the purchase price from company earnings over the next few years. Now suppose that the buyer fails at running the business. The original owner gets a double whammy: he is not getting paid for his business, and his building just lost its only tenant. Ouch.

Read the full article at Should a Business Buy Its Own Building? by Bill Conerly, Contributor + Follow on Forbes

 

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Slow Growth in 2012 and Commercial Real Estate Investing Strategies for the 'New Normal'

By Dan Pryor

Summary: The "new normal" is limited growth for 5 more years, income producing property is key, be prepared to reduce lease amounts to meet changing market conditions.

Key Quotes:

• We are in a balance sheet recession that likely will limit economic growth for 5+ years. Ubiquitous acquisition strategies targeting 15% to 20% IRRs driven by terminal valuations may not be viable;
• Projections for new tenants in vacant space and lease renewals remain challenging with a potential slowdown in the U.S. economy. Consider focusing your investment thesis on cash-on-cash returns supported by existing leases;
• Segment your asset projected cash flows and handsomely value in-place leases and whack pricing related to vacant space and lease renewals;
• The 10-Year Note and 30-year Bond yields, at approximately 2.1% and 3.1%, respectively, are likely to stay comparatively low. If your projected cash flows are largely dependent on in-place leases, IRRs in the 10% to 15% range may be ample with a conservative capital structure;
• Four and five handle capitalization rates do not work as in most cases cash flow growth will be insufficient to save pricey acquisitions from adverse factors;
• All real estate is local and pricing will vary, but the majority of buyers should be targeting 8 to 11 caps for most non-core properties to accommodate an apparent lack of prospective cash flow growth and the potential of higher interest rates in 5+ years;
• This is a Buyer’s Market. As such, there is rarely need to accept unreasonable P&S contract language that became common during the real estate bubble of 2006-2007;
• Due to capital markets liquidity risks, financing contingencies should include a requirement that banks can and will fund at closing; and
• Shopped deals are now okay. In many markets, the transaction volume is so limited, price discovery created by a brokered deal is necessary for Seller’s to understand reality and not waste your time.

However, there is good news that can be applied to the Savannah marketplace. According to Jones Lang LaSalle:

• Distribution hubs and ports will lead the industrial recovery in 2012.
• Total investment transaction volume to increase by 15 to 20 percent to $190 billion in 2012 – a slower increase than the last two years.
• Businesses will take real estate into greater consideration in 2012, focusing investments on efficiency and productivity. Additionally, businesses will consider corporate real estate as a greater contributor to corporate social responsibility initiatives in 2012, shifting investments from new construction toward retrofitting existing assets.
• Hotel demand is expected to continue to rise in 2012, but likely on a more cautious trajectory than in 2011, with private equity groups at the forefront of asset bidding.

Read the full articles at Commercial Real Estate Investing Strategies for the 'New Normal' and Slow Growth in 2012 for Commercial Real Estate, According to Jones Lang LaSalle.

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Georgia DOT Awards Contract for Port of Savannah Connector

Summary: The design and construction of the Jimmy DeLoach Parkway Connector is awarded to Archer Western Contractors of Atlanta. The company submitted a bid of $72,772,000.

Key quote:

The project calls for the design and construction of a new limited access, median barrier-separated, four-lane highway between S.R. 307/Bourne Avenue and the Jimmy Deloach Parkway. The 3.1-mile roadway will be built east of and roughly parallel to S.R. 21.

This unofficial image is my own idea of what the extension (in yellow) could look like and is for illustration purposes only. Click the image for a larger size. 

Read the full article at Georgia DOT Awards Contract for Port of Savannah Connector.

The blue star at the south east corner of 30 and Crossgate is a property of 1.57 acres for sale for 1.5 million. The listing can be found on CommercialIQ. Or call me for details at 912-352-1222.

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga 

Growth at Savannah-Brunswick could herald stronger economy

Published Monday, November 28, 2011 in Local

From STAFF and WIRE REPORTS

news@newnan.com 

Summary: A 5% growth rate from the last quarter of fiscal year 2011 to the first quarter of fiscal year 2012 at the Savannah/Brunswick ports means millions in revenue and a strengthening economy.

Key Quotes:

Some experts see economic growth in the shipping industry as a precursor of general economic improvement. Robert Morse, spokesman for the Georgia Ports Authority, said earlier this year that transporting goods by ship was "the part of the economy that came back quickest" after the recent economic downturn.

After a slight dip during the worst of the economic doldrums, the ports at Savannah and Brunswick "are back to record numbers," Morse said in early 2011. "That's good news."

"Elected officials from both sides of the aisle and business leaders from all corners of the state understand the significance the ports have as an economic engine," Gov. Nathan Deal said. "The need to maintain the Port of Savannah as a viable, efficient point of entry for international shipping cannot be overstated."

"The expansion of this port is a job creator," U.S. Transportation Secretary Ray LaHood said during his visit to Savannah earlier this month. "It fits the president's agenda of putting people back to work."

Read the full article at Growth at Savannah-Brunswick could herald stronger economy.


A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Savannah Expands Intermodal Railyard

Savannah Expands Intermodal Railyard

Joseph Bonney, Senior Editor | Nov 21, 2011 3:05PM GMT

The Journal of Commerce Online - News Story

Summary: Georgia Port Authority Board approves 6,000-foot extension of Mason Intermodal Container Transfer Facility because of increased traffic through port.

Key points:
The Georgia Ports Authority board approved a $6.5 million, 6,000-foot extension of the Mason Intermodal Container Transfer Facility, as the Port of Savannah aim to further fuel growing intermodal rail traffic.

Construction will begin in January on the project, which will increase to 4,291 linear feet the rail track at two railyards serving CSX and Norfolk Southern at the port’s Garden City Terminal.

Intermodal container transfers at the port from July through October, the first four months of the GPA’s fiscal year, rose 14 percent to 109,036 moves. August volumes were 28,610, a record.

October container volume was down 6.7 percent year-over-year, with a 9.43 percent drop in imports offsetting a 3.48 percent increase in export loads. Through the first four months of the fiscal year, container volumes were up 1 percent.

The port authority posted a 10.4 percent increase to 207,545 tons in breakbulk volumes. Through the first four months of the fiscal year, breakbulk volume was up 14.9 percent 797,486 tons.

-- Contact Joseph Bonney at jbonney@joc.com. Follow him on Twitter @josephbonney.

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

SC and GA reach harbor deepening agreement.

Sweet! In our lifetime!

http://chronicle.augusta.com/latest-news/2011-11-10/savannah-harbor-deepening-settlement-reached?v=1320934479

A. Joseph Marshall
Commercial Real Estate Advisor
Savannah, Ga.