SC Ports Announce Eight Percent Fiscal Year Growth
July 21, 2014
CHARLESTON, SC – Today SC Ports Authority reported a strong finish for the 2014 fiscal year with 8 percent container growth, an increase of 2 percent over projected plans.
“Our above-market fiscal year growth again this year is testament to strong performance in our major business segments,” said SCPA president and CEO Jim Newsome. “The implementation of our strategic plan is paying off, and the large capital investments committed to port infrastructure by the state of South Carolina and Ports Authority are yielding great dividends. Significant capital investment by major port users has also positively impacted volumes.”
In June the SCPA handled 149,183 twenty foot equivalent units (TEUs), up 19 percent from 125,257 TEUs handled the same period last year. For the total fiscal year period, July through June, the SCPA moved 1,684,907 TEUs.
On the non-containerized cargo side, the SCPA handled 83,399 pier tons in June for a total of 763,230 pier tons during the fiscal year in Charleston, an increase of 3.6 percent over plan.
Despite depth challenges at the Port of Georgetown, the terminal exceeded projected plans with 553,039 pier tons handled during the fiscal year, an increase of 11.8 percent year over year.
“I’m extremely proud of our strong fiscal year performance,” said Bill Stern, SCPA Board Chairman. “We have a strong Board, talented and visionary CEO and senior staff, and support from a productive maritime community.”
Capital projects planned for FY2015 will support continued growth in the new year. Wando Welch Terminal will receive upgrades to accommodate increases in Post-Panamax vessel calls. Construction at the Navy Base Terminal and harbor deepening remain key strategic priorities for the SCPA over the next several years, as well as the opening of the SC Department of Commerce’s intermodal container transfer facility. The Inland Port in Greer is meeting volume and performance objectives, and will continue to be a vital component of SCPA growth.
“I congratulate the SCPA on their above-plan performance,” said Larry Grooms, SC Senate Transportation Committee Chairman and SC Ports Authority Review and Oversight Committee Chairman. “The SCPA has aggressively captured significant market growth in the Southeast recently, and its success in outpacing competitors is incredibly positive news for South Carolina.”
About the South Carolina Ports Authority
The South Carolina Ports Authority, established by the state’s General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 jobs across South Carolina and nearly $45 billion in economic activity each year. For more information, visit http://www.scspa.com/.
