Colliers Report: Charleston ports attract shipping amidst nationwide supply chain problems
November 1, 2021
Commercial Real Estate Research & Forecast Report
Q3 2021 Charleston Industrial
Market Highlights
It is no secret that the South Carolina ports are driving industrial activity to record-breaking levels and boosting demand throughout the entire logistics pipeline. Coastal ports volume increased to 205,000 twenty-foot equivalent units during September, up 5% over the previous year. During the fiscal year 2022, the volume is up 18% over 2021 and is expected to continue increasing. Fortunately, the Charleston harbor deepening project will be completed by the end of next year making it the deepest harbor on the U.S. East Coast and able to operate 24 hours a day. This will allow for large container ships loaded and unloaded more quickly and at a higher frequency.
Click here to read the full report.
Key Takeaways
- By mid-November CMA CGM will temporarily replace Savannah port calls with calls at the Charleston ports
- There are currently 6.7 million square feet of industrial buildings under construction in Charleston
Summary
According to the South Carolina Ports Authority, by 2033 the overall South Carolina Port capacity will increase by 51% with additional capacity enhancements. Recently CMA CGM announced their plans to temporarily replace Savannah port calls with calls to the Charleston ports because of unloading delays. This will further boost container volume and overall industrial demand in Charleston and throughout South Carolina.
