Port of Savannah to deepen its harbor

Deal calls for $50 million in new funds for dredging.
By Patrick Burnson, Executive Editor
November 21, 2012 - LM Editorial

Georgia Gov. Nathan Deal announced that as part of his FY2014 budget proposal, he will seek an additional $50 million in funding for the Savannah Harbor Expansion Project at the Georgia Ports Authority Board meeting.
 
“I am committed to allocating funds and time to this pivotal link in our logistics network,” said Deal. “Expanding the Savannah Harbor is vital to our renewed economic growth and plays an integral role in helping make our state the No. 1 place in the nation in which to do business.”
 
If approved, the proposal will increase state funding for the deepening project to $231.1 million.
 
“Studies indicate that the port deepening will reduce shipping costs by at least $213 million a year,” said Georgia Ports Authority Board Chairman Robert Jepson. “The 5.5-to-1 benefit-to-cost ratio demonstrates that the expenditure would be a wise investment of federal dollars.”
 
Overall, the cost of the project is anticipated to be $652 million. The Record of Decision, signifying final federal approval for the project, was issued in October, allowing for construction to begin in 2013.
 
“The milestone decision made thus far by our federal agencies along with strong support from the state signifies great confidence in the surety and soundness of our deepening plan,” said Georgia Ports Authority Executive Director Curtis Foltz. “We are and will continue to work diligently with our leaders in Washington to cultivate further funding for a successful port deepening.”

The announcement comes at a time when many southeast and gulf ports are positioning themselves for the Panama Canal expansion – currently on schedule for 2014.

Zepol Corporation, a leading trade intelligence service, noted that as America’s seaports prepare for balanced trade, shippers can expect to see more regional cooperation among ports. But Zepol’s president, Paul Rasmussen, has one caveat: “That doesn’t mean regional rivalry will disappear.”



About the Author

image
Patrick Burnson
Executive Editor

Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

Company says the Cloud offering allows customers to respond more quickly to new business opportunities, without significant upfront cost and implementation times.

As e-commerce continues to take a bigger piece of the holiday package delivery pie, it stands to reason that companies need to be proactive and prepared in order to deliver premium service during the busiest time of year, which is rapidly approaching. And that is exactly what transportation giants UPS and FedEx are doing this year. How are they doing it exactly? The primary step they are taking is to up their numbers of seasonal staffers.

A recent hearing of the Subcommittee on Coast Guard and Maritime Transportation suggests that the U.S. Merchant Marine industry may be poised for a major comeback.

Spot market freight volumes for the month of August remained elevated compared to seasonal norms, according to data issued this week Portland, Oregon-based freight marketplace platform and information provider DAT.

Factors such as rising freight rates, shrinking capacity, an increased desire for global supply chain visibility, have all worked together to drive the need for instituting a culture of continuous improvement in logistics operations and transportation management systems (TMS). To meet today's complex logistics challenges, managers are stepping into a more streamlined, automated approach to transportation management in order to function at optimal levels both domestically and internationally. Read the latest special report.

Article Topics

News · Ocean Freight · Ocean Cargo · Trade · All topics

About the Author

Patrick Burnson, Executive Editor
Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review. Patrick covers international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. Contact Patrick Burnson

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2013 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA