Additional $50 Million Approved for Savannah Port Deepening

Press Release
Tuesday, April 02, 2013

The $50 million in additional port deepening funds proposed by Georgia Gov. Nathan Deal has been approved by the state legislature and now awaits the governor’s signature. Along with previous funding, Georgia has allocated $231.1 million toward the state’s portion of the Savannah Harbor Expansion Project (SHEP).

Deepening the Savannah Harbor from 42 to 47 feet will accommodate an increase in the number of super-sized container vessels transiting the Panama Canal after its 2015 expansion. With a deeper channel, larger and more heavily laden ships can arrive and depart with greater scheduling flexibility. These “Post Panamax” vessels will mean lower shipping costs per container slot.

“This infrastructure investment is crucial not just for the port, but for the economy of Georgia and the entire Southeast,” said Deal. “A deeper Savannah Harbor means greater efficiency for 21,000 U.S. companies, 75 percent of which are headquartered outside of Georgia.  A U.S. Army Corps of Engineers study has shown that SHEP will reduce shipping costs for private companies by at least $213 million a year.  Neither Georgia nor this nation can afford to delay a project that provides customers with a tool that reduces their costs.”

The new funding was part of Gov. Deal’s FY2014 budget request, and included in the final version of the state spending plan passed by the General Assembly Thursday.

“The strong actions by the General Assembly and the governor indicate the level of commitment across the state to see the harbor deepening completed,” said GPA Board Chairman Robert Jepson. “We appreciate the broad support among state leaders for our deepwater ports, which serve as economic engines supporting 352,000 jobs across Georgia.”

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 2012, clearing an important hurdle toward federal construction dollars.

“The Record of Decision means the project has been determined safe for the environment by our federal agencies, including the Environmental Protection Agency, the Fish and Wildlife Service and the National Marine Fisheries Service,” said GPA Executive Director Curtis Foltz. “Additional studies by the Army Corps of Engineers show a 5.5-to-1 benefit to cost ratio, meaning that for every dollar spent on the deepening, the nation will reap $5.50 in benefits.”

The planned new depth of 47 feet strengthens the Port of Savannah’s position as a major global trade destination, allowing it to more efficiently accommodate Post-Panamax containerships. Additionally, general navigation will be improved, with wider channel turns and a larger turning basin. The Savannah River, which features a seven-foot tidal change twice a day, will continue to host two-way containership traffic.

 

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Antwerp, Duisburg Ports to Upgrade Rly Link

The Port of Antwerp and duisport are intensifying their cooperation as the Port of Antwerp will participate in the existing rail shuttle service connecting the two ports.

Passenger Ferry Capsizes in the Philippines, Nearly 40 Dead

MBCA Kim Nirvana, a passenger boat carrying 189 people has capsized in the central Philippines, minutes after leaving port, the Philippine Red Cross and coast guard spokesman Cmdr.

Litgas, Statoil JV to Develop Baltic Sea LNG

Natural gas supply and trading company Litgas, part of Lithuania's state owned energy holding Lietuvos Energija, and Statoil, leading global energy company in oil and gas production,

Finance

Teekay LNG Partners Declares Distribution

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended June 30, 2015. The cash distribution is payable on August 14,

Technip Samsung JV Wins 2 FLNG Project Contracts

The Browse project covers the realization and installation of three FLNG units to develop the Brecknock, Calliance and Torosa fields in the Browse Basin, 425 kilometers North of Broome,

Fjords Processing Bags Johan Sverdrup Contracts

Fjords Processing, headquartered in Norway (Fornebu), has won three contracts for the deliveries of process systems for the Johan Sverdrup development in the North Sea.

Container Ships

Greek Shipping Mulls Cyprus Move

Greek shipping companies are looking into moving to Cyprus due to the instability and uncertainty in Greece, it emerged, reports Cyprus News Agency.   The director

Maersk Returns to the Port of Baltimore

Maryland Lt. Governor Boyd Rutherford, along with congressional, state and local officials, officially welcomed Denmark-based Maersk Line, part of the Maersk Group

Container Equipment Costs at Record Low

Low material costs and stable demand has driven the price of new container equipment down to record lows where it is forecast to stay, according to the latest edition

Dredging

BMT Awarded Port Geographe Coastal Engineering Contract

BMT JFA Consultants (BMT), a subsidiary of BMT Group,  has been awarded a contract by the Western Australian Department of Transport (DoT) to provide services as

Charleston Harbor Deepening Gets US Funding

Charleston Harbor deepening project earns key federal funding for preconstruction engineering and design; U.S. Army Corps of Engineers allocates $1.303 million

European Court Ups Standards for River Dredging

The European Court of Justice (ECJ) ruled on Wednesday that damage to water quality must be considered when authorities approve river dredging to expand ports,

News

New Binding Law of The Sea Agreement Advanced

WOC Sustainable Ocean Summit (Singapore, 9-11 November 2015) Will Enable Industry to Organize its Input to this Major New Ocean Treaty Development The U.N.

Oceans Can’t Take Any more: Researchers Fear Fundamental Change

Our oceans need an immediate and substantial reduction of anthropogenic greenhouse gas emissions. If that doesn’t happen, we could see far-reaching and largely

Teekay LNG Partners Declares Distribution

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended June 30, 2015. The cash distribution is payable on August 14,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Salvage Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2150 sec (5 req/sec)