Tanker Rates Skyrocket To Fill Colonial Pipeline Shortages
By Elizabeth Low (Bloomberg) Oil tanker charter rates skyrocketed in the U.S. with refiners scrambling for ships to store fuel that has nowhere to go due to a cyberattack on...
The Georgia Ports Authority set all-time records for both container volumes and total tonnage in May with strong growth across several key business sectors.
“Strong performances at GPA’s five deep water terminals, including bulk cargoes and containerized freight, contributed to the growth,” said GPA Executive Director Curtis Foltz.
During his report at its June meeting, Foltz told GPA’s Board of Directors that the Authority had moved more than 338,000 twenty foot equivalent unit containers (TEUs), a 16.4 percent increase, and 2.9 million tons of freight, a 9.6 percent jump.
“Superior service and unmatched connectivity to inland markets are driving growth at Georgia’s deepwater ports,” said GPA Board Chairman James Walters. “Our ability to handle expanding cargo volumes – without congestion delays – has set GPA apart in support of farming, retail and manufacturing customers.”
Other notable developments included growth at GPA’s East River Terminal in Brunswick. Focused exclusively on bulk cargoes, East River Terminal, operated by Logistec, experienced a 44.2 percent increase (41,168 tons), for a total of 134,277 tons of commodities moved.
Foltz attributed that growth, in part, to strong biofuel exports to Northern Europe.
“Our ports are a vital link to global markets for Georgia exports, with forest products playing an important role in the state’s economy,” said GPA Vice Chairman James Allgood. “In addition to wood pellets used as renewable fuel, the GPA handles forest-derived exports including wood pulp, paper, lumber and cellulose fibers.”
Growing nearly as fast as East River, Colonel’s Island Terminal in Brunswick improved by 40.2 percent (49,575 tons), largely on expansion in soybean meal. A total of 172,825 tons of bulk and breakbulk cargo moved across Colonel’s Island docks in May.
Across all terminals, bulk cargo grew by 60 percent (105,820 tons) in May, to reach 282,613 tons.
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