The Index is hence still on a high level which confirms that world merchandise trade is in good shape. Since the Chinese New Year holidays tend to shift volumes between January and February, month-on-month changes should anyhow be interpreted carefully in this period. The January value was revised downwards by 0.4 since last month’s flash forecast, a magnitude below the long-term average of 0.6 points. The current flash forecast for February is based on a sample of 37 ports handling roughly 64% of the traffic represented in the Index. The Index is based on data of 75 world container ports covering approximately 60% of worldwide container handling. The ports are continuously monitored by the ISL as part of their market analysis. Because large parts of international merchandise trade are transported by ship, the development of

port handling is a good indicator for world trade. As many ports release information about their activities only two weeks after the end of the respective month, the RWI/ISL Container Throughput

Index is a reliable early indicator for the development of international merchandise trade and hence

for the activity of the global economy. The RWI/ISL Container Throughput Index for March 2014 will be published on April 24th.

“The strong growth experienced throughout our business sectors this fiscal year demonstrates the resilience and strength of the Southeast market, and a positive return on the continued investments in Georgia’s ports, rail, roads and logistical supply chain,” GPA Executive Director Curtis Foltz reported to the authority board Monday.

Foltz said he expects similar growth through the final quarter of the fiscal year.

In total, the GPA moved 19.2 million tons of cargo in the fiscal year to date, an increase of 7.6 percent, or 1.3 million tons. Growth across major cargo sectors contributed to the improvement.

The GPA achieved an increase of 5.6 percent in roll-on/roll-off cargo through February, moving 438,990 automobile and machinery units – up 23,322 units compared to July-February FY2013. Bulk cargo such as soybeans and wheat rose 6.6 percent for the fiscal year through February to reach 1.86 million tons – an improvement of 114,868 tons over the same period last year.

In monthly totals, the GPA handled 2.4 million total tons in February, an increase of 5.4 percent or 122,060 tons. Foltz reported that Georgia’s deepwater ports set a record in February, handling the highest volume of containers ever for a February, at 248,746 TEUs, an increase of 2.6 percent. Breakbulk commodities increased by 8.8 percent (15,568 tons) last month, for a total of 192,204 tons. Meanwhile, February bulk cargo rose by 33 percent (69,745 tons) year over year to reach 280,477 tons.

Foltz also reported that the FY2015 state budget approved by the Georgia General Assembly includes an additional $35 million in state funds for the Savannah Harbor Expansion Project. This funding, initially proposed by Gov. Nathan Deal, brings the state allocation to $266 million, fulfilling Georgia’s portion of the total project costs estimated at $652 million.

“Georgia stands ready to begin the harbor deepening, and we are working with the U.S. Army Corps of Engineers to complete all pre-construction activities allowed,” said GPA Board Chairman Robert Jepson. “The GPA and the Corps of Engineers have a draft cost-sharing agreement ready to sign as soon as Congress passes the Water Resource Development Act – a measure which will update the budget amount to the current estimate of $652 million.”

It’s a momentous day in the 175-year history of the port, with the 500m long new quay, the first for nearly 20 years, designed to ensure Southampton can continue to handle the very biggest container ships afloat long into the future.

Sir Ben said: “As a local sailor who has spent many happy hours on Southampton Water, I know what a major contribution the port and the marine industry it supports makes to life in Hampshire. That’s why I’m proud to take part in such a momentous event as the opening of SCT5, something that promises to develop the regional economy and build on the port’s global reputation.” 

DP World Southampton Managing Director Chris Lewis said: “This new quay is a major investment in the future of Southampton’s container operations and a huge vote of confidence in the team we have here to continue to deliver UK leading performance.”

DP World Southampton was only recently crowned the UK’s no.1 performing terminal for turning vessels around faster than any other UK port.

James Cooper, Chief Executive of Associated British Ports, which funded the £100m project, said: “It is fitting that a Hampshire hero, a local boy who has made the entire world sit up and take notice with his performances on the water, should be the one to open our facility. He has truly defined what the gold standard means.

“The Port of Southampton supports some 14,730 jobs and contributes around £1 billion to the economy every year. This new quay is vital to safeguard and allow us to grow the business.”

More than 300 visitors are expected to witness the opening, drawn from the marine industry, port staff, and local people.

The new berth, called SCT 5, is designed to handle the largest and deepest vessels in the world, including the new 18,000-teu ships that are currently coming into service.  It is equipped with four new Liebherr super post panamax cranes capable of reaching across ships 24 containers wide. A fifth Liebherr crane has been relocated from elsewhere in the terminal to ensure the new berth has the capability to turn ships around quickly and efficiently.  While the new berth has a depth alongside of 16 metres, it can be deepened to 17 metres to cater for any future growth in vessel size.

Southampton’s ability to cater for the largest container ships afloat is being further boosted by an ongoing dredging programme designed to deepen the main approach channel giving greater access and flexibility all year round.

SCT 5 will enhance Southampton’s position as the number one performing container terminal in the UK.

The move, which aims to support the Club’s existing claims team in the UAE, underlines the insurer’s commitment to what is a dynamic region and provides an additional service level to both Members and brokers in the Middle East.

Julien Horn, having already been TT’s underwriter dedicated to the Middle East for some six years now, will relocate to Dubai on secondment to Through Transport Mutual Services (Gulf), the Club’s long established joint venture Network Partner.  Horn will be supporting the local claims team headed by Brian Reckerman.

The Middle East has long been a strong market for TT Club. The region has enjoyed substantial trade growth and it has a significant role as a key transport and logistics hub for global trade.  US$7.5 billion was spent in the region on logistics services in 2011 and forecasts put this total at over US$10 billion annually by 2015.  With this sort of growth, freight transport and logistics service providers in the Middle East represent a significant opportunity.   This move re-emphasises the Club’s established position in providing insurance solutions and unparalleled support for its membership and regional insurance brokers.

Falling within the EMEA region headquartered in London, Regional Director Andrew Kemp is responsible for the move.  “Julien’s increased presence and time spent on the ground will enable the Club to strengthen support of its membership.  He will work closely with both London and local brokers as the Club looks to grow in the Middle East, re-enforcing its desire to provide comprehensive cover and service at competitive pricing levels.  In particular, Julien will aim to drive forward a number of local initiatives the Club has to promote transport insurance and risk management,” emphasises Kemp.

Horn has worked for the Thomas Miller Group (managers of TT Club) in London since 2003, focusing in recent years on the Middle East and surrounding areas. He is a Fellow of the Chartered Institute of Insurance and Member of the Honourable Company of Master Mariners. He has travelled extensively in the region and now relishes the opportunity to be based at its heart in Dubai.  “In addition to serving the Club’s current membership, I am keen to show regional brokers how they also can benefit from TT’s experience.  The Club’s expertise in the management of liability risk and its understanding of transport operators’ possible levels of exposure, coupled with its established international network of correspondents, which like TTMS (Gulf)in Dubai handles claims ‘on the ground’, is unique,” claims Horn.