A Quick Glance Into The Logistics Market - April 2014
Georgia Logistics compiles a monthly set of facts and figures regarding the Logistics Markets. We selected a few facts to share with you :-
- Atlanta is the least-costly location to do business among the 31 largest U.S. metro areas. The study by KPMG measured 26 key cost components in each market, including costs associated with taxes, labor, facilities, transportation, and utilities. Atlanta has the lowest transportation and factory lease costs, and the lowest effective corporate income tax rate of any large U.S. city. The city’s low suburban and downtown office lease costs also contributed to its top ranking
- U.S. imports in 2013 decreased from the total value in 2012 by 0.38%. Petroleum products accounted for 12.5% of total U.S. imports in 2013, totaling $283 billion. Automotive vehicles were the second-largest import in the United States last year, increasing 4.1% year-over-year to $152 billion
- Coal carloads totaled 453,071 in March 2014, up 2.2% over the same month last year and the biggest year-over-year increase since December 2011. Grain shipments have also improved over the previous year. Grain carloads in March 2014 were up 21.2% over March 2013.
- Greenbrier has reported that the new railcar backlog at the end of the second fiscal quarter was 15,200 units with an estimated value of $1.54 billion. The company made an estimated 3,700 railcar deliveries during the second quarter and received 5,800 new orders during the same period.
- On average, revenue increased 3.9% at the 25 largest U.S. less-than-truckload carriers in 2012, totaling $29.5 billion. Total LTL Carrier revenue is estimated to be nearly $33 billion for 2013.
- American Airlines expects 2014 cargo revenues to top $860 million, an increase of $30 million over 2013. The carrier also said total system capacity will increase by 3% in 2014.
- Emirates SkyCargo started their service to Atlanta’s Hartsfield-Jackson International Airport on April 6. Emirates will operate a B777 freighter flight weekly between Atlanta and Dubai. The new service is expected to have up to $6 million in annual economic effect in metro Atlanta
- Import volume through major U.S. container ports is expected to increase 6.1% in April from the same month last year. In February, the latest month for which numbers are available, U.S. container ports handled 1.26 million TEUs, a 8.4% decrease from the previous month and a 1.4% decrease from the same month last year. Total U.S. containerized imports are expected to increase 4.1% in 2014.
- $35 million in additional funding for the Savannah Harbor Expansion Project was approved by the Georgia state legislature and now awaits the governor’s signature. Along with previous funding, Georgia has now allocated $226 million, fulfilling the state’s portion of the project that will deepen the Savannah Harbor from 42 to 47 feet
- Bainbridge Manufacturing, a privately held automotive manufacturer, will invest $10 million into a new headquarters in Decatur County, Georgia. The project will create 100 jobs in the first year, with a total of 240 jobs and $100 million investment over the next 10 years. The company will add an additional 1.6 million square feet to the existing 180,000 square-foot facility. Upon completion, the headquarters will become the primary manufacturing center for the company
- United Arab Shipping Company will locate its North American headquarters to Gwinnett County, Georgia, investing double-digit millions and creating 160 jobs. The location of the 50,000 square-foot facility will bring the company closer to skilled talent as well as its operations at the Port of Savannah
- Nordic Cold Storage has announced the second phase of its state-of-the-art blast facility in Pooler, Georgia. The addition will double the capacity of the existing facility to more than 400,000 square feet and will be capable of flash-freezing an additional 10 million pounds of product per week.