Georgia Increases Funding for Port Deepening

Posted by Greg Trauthwein
Thursday, March 20, 2014

Deal to Sign Budget with $35M More for Port Deepening; State has allocated $266 million to Savannah Harbor Expansion

The $35 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 now allocated $266 million, fulfilling the state’s portion of the Savannah Harbor Expansion Project (SHEP).


“Lawmakers across Georgia recognize that improving the Savannah Harbor is critically important to the continued economic health of this state and region,” Deal said. “That unified vision is also evident among our delegation to Washington, which has worked tirelessly to secure the federal portion of the project costs. It is now long overdue for the federal government to fund their portion of this federal project to make U.S. manufactured products more competitive overseas.”


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 lower shipping costs per container slot.


A U.S. Army Corps of Engineers study has shown that SHEP will reduce shipping costs for private companies by $174 million a year.  The new funding was part of Gov. Deal’s FY2015 budget request, and was included in the final version of the state spending plan passed by the General Assembly earlier this week.

Approved by the Environmental Protection Agency, the Fish and Wildlife Service and the National Marine Fisheries Service, the project is anticipated to cost $652 million. The Corps of Engineers study shows 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 $266 million in state funding for SHEP is enough to allow significant progress on the project, including environmental improvements such as rerouting freshwater flows, and improvements to the outer harbor,” said GPA Executive Director Curtis Foltz. “Besides deepening the channel, the harbor expansion will also include general navigation improvements, such as wider channel turns and a larger turning basin.”


 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Port City Plans for New Cargo Taxes Angers Kenya Govt, Shippers

Proposals by a local authority to impose new taxes on cargo at Kenya's main port has drawn opposition from the government and shippers, saying it will hike import

DP World Mulls Senegal Free Zone

DP World  is looking to develop a free zone in Senegal, Chairman Sultan Ahmed bin Sulayem said on Wednesday. Sulayem was speaking at an African investment event in Dubai.

Skangass Builds LNG Terminal in Pori, Finland

With investment support from the Finnish Government of 185 million NOK Skangass has decided to build a new import terminal for LNG. The terminal will be completed in 2016.

Container Ships

Chinese Manufacturing Expansion Affects Shipping Demand

The expansion of the Chinese Manufacturing Industry continued in September at unchanged pace as compared to the month before, BIMCO reports. The manufacturing industry

Going Big for Sustainability

Orkot Marine Bearings, developed and manufactured by Trelleborg Sealing Solutions, contribute to the build of the world’s largest and most efficient containerships,

MOL Restructures Asia to S. Africa Service

Mitsui O.S.K. Lines, Ltd. (MOL) announced the restructuring of its existing Asia to South Africa liner services into two direct loops. One service will call South China,

Government Update

Port City Plans for New Cargo Taxes Angers Kenya Govt, Shippers

Proposals by a local authority to impose new taxes on cargo at Kenya's main port has drawn opposition from the government and shippers, saying it will hike import

Cove Point LNG Export Facility Gets US FERC Approval

U.S. federal regulators on Monday approved construction of Dominion Resources Inc's liquefied natural gas export project in Cove Point, Maryland. Cove Point is the fourth U.

Port Firm Fined £650,000 for Health, Safety Breach

A port operator has today (Monday 29 September) pleaded guilty to health and safety breaches, following the deaths of three crew members of a tug which capsized on the River Clyde in 2007.

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1602 sec (6 req/sec)