Hapag-Lloyd Urges Israel to Review Improved Offer for Shipping Services Company ZIM
Hapag-Lloyd HLAG.DE on Tuesday urged Israeli authorities to review improved terms in the company's $4.2 billion bid for ZIM Integrated Shipping Services.
The Port of Savannah’s Garden City Terminal experienced a significant increase in the number of containership calls last month, with 129 visits for a 26 percent rise compared to October 2022.
The surge in activity comes after the completion of renovations on Berth 1, resulting in all berths being open at the largest single-terminal container facility in the country.
The Port of Savannah handled a total of 449,000 twenty-foot equivalent container units (TEUs) in October, making it the fourth-busiest October on record and representing a 5% increase compared to the same month in 2019. However, October volumes were down nearly 19% compared to the same month last year, which marked the second-busiest month in Savannah’s history.
The successful opening of Berth 1 has allowed the Port of Savannah to fulfill its infrastructure planning efforts and accommodate the growing demand ahead of the holiday season and the potential influx of last-minute orders.
The rail cargo sector also experienced growth at the Garden City Terminal, with a 9 percent increase in containers moved by rail to a total of 47,750 containers in October. The Appalachian Regional Port achieved an even more significant milestone, with rail cargo growing by 22 percent, setting a new record for the month of October.
However, overall cargo volume at the Port of Savannah has seen a decrease of 18 percent or 382,580 TEUs since the beginning of the fiscal year in July. This decline can be attributed to the exceptional volumes handled during the same period in FY2023, which constituted some of the busiest months in Georgia Ports Authority’s history.
In Roll-on/Roll-off cargo, the Port of Savannah handled 67,500 units of autos and machinery in October. Although this figure represents a slight decrease of 5.8% or 4,160 units compared to the same month last year, the fiscal year to date shows a positive trend with GPA handling 271,364 Ro/Ro units, reflecting a 17 percent increase or 39,500 units.
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