SC Ports Projects Volume Growth, $77 Million in Upgrades

June 16, 2010

CHARLESTON, SC – June 16, 2010 – The South Carolina State PortsAuthority (SCSPA) Board approved its budget for the coming fiscal year,including more than $77 million in terminal upgrades and projections fora seven percent increase in container volume.

In the year starting July 1, the SCSPA plans to invest $77 million interminal improvements, equipment upgrades and new information systems.  The largest area of spending is at existing facilities, totaling $35million. More than $16 million is slated for construction of the new286-acre container terminal at the former Navy Base.

“These investments strengthen South Carolina’s ability to serve ourclients’ growth, which will be driven by the deepest channels in theSoutheast and this state’s pro-business climate,” said Bill Stern,chairman of the SCSPA board.  

Charleston today handles ships drawing up to 48 feet of water,including vessels of 8,000+ TEUs (20-foot equivalent container units),and in 2009 South Carolina led the Southeast in jobs recruited bybringing in 18,004 jobs, far above the regional average.

Charleston’s May container volume climbed more than 22 percentyear-over-year with 68,238 pier containers handled and was even with theprevious month.  That followed four consecutive months ofyear-over-year growth.

After several strong months, the Port of Charleston is now on trackto meet its container volume budget in the current fiscal year, whichends June 30.

“South Carolina’s ports are attracting business back at an increasingpace,” said Stern.  “While we still have some work to return thebusiness levels of a few years ago, the meter has been moving in theright direction.”

Beyond the projected seven percent increase in container volume infiscal 2011, non-container and breakbulk cargo handled at SouthCarolina’s public port facilities in Charleston and Georgetown areexpected to climb 53 percent.
 

About the South Carolina State Ports Authority
The South Carolina State Ports Authority, established by the state’sGeneral Assembly in 1942, owns and operates public seaport facilities inCharleston and Georgetown, handling international commerce valued atnearly $45 billion annually while receiving no direct taxpayer subsidy.  An economic development engine for the state, port operationsfacilitate 260,800 jobs across South Carolina and $44.8 billion ineconomic activity each year.  For more information, visit
www.scspa.com.