The Weekly Current

The Georgia Ports Authority has received approval from the U.S. Army Corps of Engineers to develop a new $2.3 billion container terminal at the Port of Savannah. The 350-acre Savannah Container Terminal will add capacity for 3.5 million twenty-foot equivalent units (TEUs) annually, bringing the port’s total handling capacity to approximately 12 million TEUs. Construction is scheduled to begin in January 2028, with completion expected in the mid-2030s. The expansion is part of a broader infrastructure investment strategy aimed at accommodating larger vessels and supporting long-term growth in U.S. East Coast container traffic.

While the Port of Savannah prepares to expand its capacity to accommodate future growth, West Coast ports are facing challenges managing elevated cargo volumes. The Ports of Los Angeles and Long Beach experienced record cargo volumes in September, contributing to longer container dwell times as the extended peak season continued. Local truck dwell times increased from 2.95 days in August to 3.18 days in September, while rail dwell times rose from 6.75 to 7.19 days. Ongoing challenges at the Panama and Suez canals have also prompted shippers to redirect approximately 5% more cargo to Los Angeles, adding to already elevated volumes.

Transpacific ocean freight rates remain elevated as carriers continue adjusting capacity in response to fluctuating demand and ongoing congestion. Carriers have announced capacity reductions of approximately 12–15% across Asia–U.S. trade lanes for October and November, with blank sailings affecting both East and West Coast services. These adjustments, combined with continued schedule disruptions, are tightening space availability and extending booking lead times.