By Molly Parker

mparker@scbiznews.com
Published June 30, 2009

SAVANNAH — The Georgia Ports Authority’s executive director predicted a slow but steady recovery in world trade on the horizon as his board signed off on a budget Monday predicting slight container volume growth for the state’s terminal operations in the next 12 months.

The GPA is projecting a 4% increase in container volume in the 2010 fiscal year. The authority is projecting to close out this fiscal year, which ends June 30, handling 2.43 million 20-foot long containers, and is expecting to handle 2.56 million containers next year.

The authority’s budget projected operating revenues for the next fiscal year of $234 million, up 2% from this fiscal year’s projected $229 million.

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“Economic data through May tends to show signs of a bottom forming if not already reached during March,” Executive Director Doug Marchand reported to the GPA board. “New unemployment claims have stopped rising and customers are spending on homes and other durable items.”

The board signed off on its FY2010 fiscal budget without discussion.

In the fiscal year to date, through May, the GPA reported that pier containers were down about 10%, with total tonnage down 11.6% during the same period.

The ports authority reported its steepest decline in automobiles and other rolling cargo, which declined 21.3% in the current fiscal year through May. Those numbers were off 45.8% between May 2008 and May 2009.

“U.S. and global auto and machinery sales continued to decline in May,” Marchand said.

Auto imports declined by 42% and machinery imports were down 42.9% between May and the year-ago month. A total of 20,162 units crossed the docks, which was up about 1,000 units from April, though down about 17,038 units from May 2008.

The S.C. State Ports Authority’s recently-passed 2010 fiscal year budget predicted a 6% decline in container traffic next year.

Reach Molly Parker at 843-849-3144.