News Entries Archive - Page 30 of 73

South Carolina Ports Authority Posts Seven Percent Container Volume Increase

TIMMONSVILLE, SC - DECEMBER 16, 2015 - November container traffic drove a seven percent increase in South Carolina Ports Authority (SCPA) fiscal year-to-date volumes, with 831,627 twenty foot equivalent units (TEUs) handled since the fiscal year began in July.

SCPA moved 153,594 TEUs last month, an increase of 6.5 percent over 144,218 TEUs handled in November 2014.

As measured in pier containers, or total boxes handled, fiscal year-to-date volumes were up 5.7 percent with 468,776 boxes moving across SCPA docks since July.

Non-containerized cargo volume climbed nearly 13 percent higher than fiscal year-to-date plans, with 581,915 pier tons moved during the period. Charleston handled 69,966 tons in November, while Georgetown moved 28,172 tons.

"The Port's November volumes reflect the sustained moderate growth we expected during FY2016," said SCPA president and CEO Jim Newsome. "Our broad-based increases will remain tempered in comparison to last year's double-digit growth, but I expect we will continue to keep pace with growth above the US port market average."

Rail moves at the Inland Port continued to be strong, with 6,076 moves in November. Fiscal year to date, the facility has handled 34,307 rail moves, an increase of 58.2 percent compared to the same period last year.

Board Action

The Board approved a modification to the construction contract for the expansion of the New Orleans Cold Storage facility, which upon completion will double its existing storage space. Refrigerated cargo is a rapidly growing market segment for SCPA, with annual refrigerated cargo volume growth of 20 percent from fiscal year 2014 to 2015.

SVP Human Resources Announced

SCPA announced that Bob Mozdean will join the organization as Senior Vice President of Human Resources in January. Mozdean has substantial experience as a senior human resources executive, including stints with Hapag-Lloyd, Overseas Shipholding Group, Dannon, and Seagram Spirit and Wines Group.

"Bob Mozdean is a very experienced human resources professional who will assist us in the further development of our human resources function and our cultural change initiative," said Jim Newsome, SCPA president and CEO. "Ensuring that we have a talented workforce is key to our success going forward."

Pee Dee Economic Impact Study

SCPA released results of a new economic impact study completed by the University of South Carolina's Darla Moore School of Business highlighting the Port's impacts on the Pee Dee region. The study found that the Port supports 1 in 14 Pee Dee jobs paying 40 percent higher than the state's average annual wage.

The Pee Dee region benefits from $6.3 billion in annual economic activity representing 12 percent of SCPA's total statewide economic impact. Approximately $1.2 billion in labor income from Port operations is infused into the Pee Dee economy annually.

The study was completed by research economist Joseph Von Nessen using total economic impacts associated with port operations and port users during the 2014 calendar year. It identified the impacts of port operations on the following counties: Chesterfield, Darlington, Dillon, Florence, Georgetown, Horry, Marion, Marlboro and Williamsburg.

"In the Pee Dee region alone, the Port's impact translates into nearly 23,000 high-wage jobs," Von Nessen said. "The Port is helping to expand the local manufacturing base into a sizable industry footprint, which will generate higher and more stable rates of economic growth in the region in the long-run."

Statewide, the Port is responsible for 187,200 jobs and $53 billion in annual economic impact, representing nearly 10 percent of total gross state product.

View the full summary of Pee Dee and statewide economic impact information here.

About South Carolina Ports Authority

South Carolina Ports Authority (SPCA), 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 187,200 statewide jobs and generate nearly $53 billion annual economic activity. Home to the Southeast's deepest port, SCPA is the industry leader in delivering speed-to-market, seamless processes and flexibility to ensure reliable operations, big ship handling, efficient market reach and environmental responsibility. For more information on SCPA, please visit https://scspa.com/.

South Carolina Ports Authority Container Volume Up Seven Percent

LEXINGTON, SC - November 18, 2015 - Today the South Carolina Ports Authority announced a fiscal year-to-date container volume increase of seven percent, with 678,033 twenty-foot equivalent units (TEUs) handled since July.

SCPA moved 164,734 TEUs in October. From a calendar year-to-date perspective, SCPA has seen container volume increase 11 percent over last year with 1,674,891 TEUs handled since January.

As measured in pier containers, 93,046 boxes moved across SCPA docks last month. Fiscal year to date, SCPA has handled 382,656 pier containers for an increase of six percent over the same period last year.

Non-containerized cargo tonnage also continued to climb through October, with fiscal year-to-date volumes 19 percent ahead of plan. Charleston handled 96,258 pier tons last month, pushing total Charleston breakbulk volume to 334,122 total tons moved since July. Georgetown handled 30,773 pier tons in October for a total of 149,654 tons moved fiscal year to date.

The Inland Port handled 6,128 rail lifts in October. Fiscal year to date, rail lifts at the facility are nearly 60 percent ahead of last year with 28,231 moves since July.

"SCPA's moderate volume growth is reflective of broad-based strength across a number of market segments," said SCPA president and CEO Jim Newsome. "As expected, the slowing of our year-over-year volumes reflect the strong comparisons against FY2015 performance and an overall tepid group of emerging market economies."

SVP External Affairs Announced
Today SCPA announced former Maersk Group executive Clint Eisenhauer will join its leadership team as Senior Vice President of External Affairs. He will oversee SCPA's public and media relations, government affairs, community outreach and education program.

"We are excited to welcome Clint to the SCPA team," said SCPA president and CEO Jim Newsome. "His expertise in the shipping industry and extensive experience in government affairs and corporate communications make him a valuable addition to our senior team and a strong mentor for the positions reporting to him."

Eisenhauer was previously Vice President of Government Relations for Maersk, with responsibility for policy and political outreach across all business units and for supporting its interests domestically and abroad.

Midlands Economic Impact Study
SCPA released results of a new economic impact study completed by the University of South Carolina's Darla Moore School of Business highlighting the Port's impacts on the Midlands region. The study found that the Port supports one in 12 Midlands jobs paying 40 percent higher than the state's average annual wage.

The Midlands region benefits from $13.6 billion in annual economic activity representing nearly 26 percent of SCPA's total statewide economic impact.

"While SCPA doesn't have operations in the Midlands, it remains an important driver of the region's economy," said Bill Stern, SCPA Board of Directors Chairman. "The Port's strong economic presence here reflects its connectivity across all regions of South Carolina. I'm proud of the Port's role as a provider of well-paying jobs and supporter of economic development opportunities in the heart of our state."

The study identified the following impacts of port operations on Calhoun, Clarendon, Fairfield, Kershaw, Lee, Lexington, Newberry, Orangeburg, Richland, Saluda, Sumter, Aiken, Allendale, Bamberg, Barnwell and Edgefield:

SCPA is responsible for nearly 48,000 jobs in the region.
Approximately $2.6 billion in labor income from SCPA operations is infused into the Midlands economy annually.
The manufacturing economy, which represents the primary user base of Port facilities, represents 8.2 percent of the Midlands economy.

The study was completed by research economist Joseph Von Nessen using total economic impacts associated with port operations and port users during the 2014 calendar year.

"Although the Port's statewide $53 billion impact is substantial, these economic benefits are felt strongly in the Midlands region, where the Port's impact translates into over 48,000 high-wage jobs," Von Nessen said. "But perhaps more importantly, the Port has an ability to facilitate the ongoing development of export-oriented industry clusters, particularly in advanced manufacturing. This is helping to expand the local manufacturing base - which already represents 8.2 percent of the Midlands economy - into a sizable industry footprint."

Statewide, the Port is responsible for 187,200 jobs and $53 billion in annual economic impact, representing nearly 10 percent of total gross state product.

View the full summary of Midlands and statewide economic impact information here.

About SC Ports Authority
South Carolina Ports Authority (SPCA), 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 187,200 statewide jobs and generate nearly $53 billion annual economic activity. Home to the Southeast's deepest port, SCPA is the industry leader in delivering speed-to-market, seamless processes and flexibility to ensure reliable operations, big ship handling, efficient market reach and environmental responsibility. For more information on South Carolina Ports, please visit www.scspa.com.

SCPA Achieves First Quarter TEU Growth of Nearly 10 Percent

CHARLESTON, SC - South Carolina Ports Authority (SCPA) saw strong container volume growth during the first quarter of the 2016 fiscal year, with TEU volumes 9.5 percent higher than the same period last year.

SCPA handled 167,549 TEUs last month, an 11.1 percent increase from September 2014 volumes. Since the 2016 fiscal year began in July, SCPA has moved 513,299 TEUs.

As measured in pier containers, 289,610 boxes have moved across SCPA docks fiscal year to date. Pier container volume is up 8.6 percent from the 266,741 boxes handled during the same period last fiscal year.

"Our growth is indicative of broad-based strength across all market segments," said SCPA president and CEO Jim Newsome. "While our volumes are likely to see more modest growth than last fiscal year, we expect to continue to experience increases above the U.S. port market average."

Noncontainerized cargo was 16.5 percent higher than plan during the first quarter, with 356,746 pier tons handled. In September, Charleston moved 81,137 tons of breakbulk cargo and the Port of Georgetown handled 30,360 tons.

The Inland Port achieved 7,214 rail moves in September, bringing fiscal year-to-date volume to 22,103 moves. The facility's strong volumes are 50.5 percent ahead of plan.

Board Action

The Board approved SCPA's $1.25 million contribution to the Jasper Ocean Terminal (JOT) Joint Project Office for the 2016 fiscal year work plan. The plan, which includes geological studies and conceptual work on terminal design to by Moffat & Nichol, was approved by the JOT Board of Directors on June 17, 2015.

The Board approved a contract for construction services related to the containment wall structure at the Navy Base Terminal (NBT), as well as two contracts for independent quality reviews of NBT site preparation and construction activities. A design contract for the Wando Welch Terminal refrigerated cargo yard expansion was also approved.

In addition, the Board authorized SCPA to purchase a new forklift for the Inland Port to accommodate the facility's growing cargo volumes.

Naming SCPA's New Container Terminal

The Board voted to name SCPA's new container terminal the Hugh K. Leatherman Terminal. The terminal, located on the former Navy Base, is currently the only permitted container terminal under construction on the U.S. East or Gulf Coasts. When it opens in 2020, the facility will increase SCPA's total container volume capacity by 50 percent.

"Our Board, state leaders and elected officials share in the pride of our port system," said SCPA Board Chairman Bill Stern. "President Pro Tempore of the SC Senate Hugh Leatherman has been a longtime supporter of our Port, and no one has been more supportive or more important to the success of our world-class port's vision. He secured funding for the port access road and garnered support for the Inland Port and Jasper Ocean Terminal. He has always been at the table to assist in the recruitment of jobs and investment to our state. And, most importantly, he was a key leader in securing the $300 million state contribution for harbor deepening. It is only fitting and is my honor to name SCPA's new container terminal after him."

Economic Impact Study

SCPA released Upstate, South Carolina-specific results of a new economic impact study completed by the University of South Carolina's Darla Moore School of Business. The study found that the Port supports one in eight Upstate jobs paying 40 percent higher than the state's average annual wage.

As home to the Inland Port, the Upstate region benefits from $26.8 billion in annual economic activity representing approximately half of SCPA's total statewide economic impact.

"The Upstate is home to a large concentration of port users whose cargo represents significant volumes for our facilities," said Jim Newsome, SCPA president and CEO. "The fact that 50 percent of the SCPA's total statewide impact benefits the Upstate is a testament to the statewide connectivity of the Port. We are proud of the economic development opportunities and well-paying jobs SCPA supports in the Upstate and across South Carolina."

The study identified the following impacts of port operations on Abbeville, Anderson, Cherokee, Chester, Greenville, Greenwood, Lancaster, Laurens, McCormick, Oconee, Pickens, Spartanburg, Union and York:

SCPA is responsible for nearly 95,000 jobs in the region.
Approximately $5.2 billion in labor income from SCPA operations is infused into the Upstate economy annually.
The manufacturing industry, which represents the largest sector of port-dependent businesses in the Upstate, encompasses 15.3 percent of the overall Upstate economy.

The study was completed by research economist Joseph Von Nessen using total economic impacts associated with port operations and port users during the 2014 calendar year.

"The regional economic benefits of the Port are felt most significantly in the Upstate," Von Nessen said. "In the Upstate region alone, the Port's impact translates into nearly 95,000 high-wage jobs and $5.2 billion in labor income. But perhaps more importantly, the Port has an ability to facilitate the ongoing development of export-oriented industry clusters, especially in advanced manufacturing. The automotive cluster expansion in particular has been the main driver of economic growth in the Upstate since the Great Recession. This cluster expansion simply would not have happened without access to port facilities."

Statewide, the Port is responsible for 187,200 jobs and $53 billion in annual economic impact, representing nearly 10 percent of total gross state product. View the full summary of Upstate and statewide economic impact information here.

About South Carolina Ports Authority

South Carolina Ports Authority (SPCA), 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 187,200 statewide jobs and generate nearly $53 billion annual economic activity. Home to the Southeast?s deepest port, SCPA is the industry leader in delivering speed-to-market, seamless processes and flexibility to ensure reliable operations, big ship handling, efficient market reach and environmental responsibility. For more information on SCPA, please visit https://scspa.com.

Moody's, S&P Issue Positive Financial Ratings for SC Ports Authority

Charleston, S.C. - Moody's Investors Service and Standard & Poor's Ratings Services have affirmed South Carolina Ports Authority's (SCPA) solid financial position, citing a growing regional economy, significant capital support and a strong operating profile as key factors in the positive ratings issued this week.

The ratings come as SCPA plans to issue approximately $290 million in new revenue bonds to fund several major capital projects, including the purchase of two super post-Panamax cranes and wharf improvements for the Wando Welch Terminal, upgrades to refrigerated cargo infrastructure at both SCPA container terminals, and construction of the Navy Base Terminal.

"Strong ratings from two of the top credit reporting agencies confirm that SCPA is well-poised to deliver on an aggressive capital plan and remain a top ten container port, offering the modern facilities, deep water and reliability necessary for above-market growth in today's shipping environment," said Jim Newsome, SCPA president and CEO. "These ratings reaffirm the financial industry's confidence in our port system's long-term strategic plan."

Moody's, which issued an A1 rating with a stable outlook to the 2015 bonds as well as the $155 million in outstanding revenue bonds issued in 2010, cited SCPA's current harbor depth as an asset to the organization's strong competitive position that will be enhanced by plans to deepen to 52 feet by the end of the decade.

The Moody's report states that SCPA's stable outlook is based upon our expectation that the authority will continue to exhibit strong financial and operating performance, and that it will be able to achieve sufficient revenue growth to support the increased debt without significant detriment to coverage and liquidity metrics.

Standard & Poors assigned an A+ rating with a stable outlook on both bond series as well. The agency referenced SCPA's import-export cargo balance and good diversity of top customers as important credit strengths. The report also noted SCPA's solid regional position as provider of maritime infrastructure in the Southeast in its credit assessment.

The ratings include analysis of financial performance, volume growth, customer diversity, performance relative to competitors and future capital projects. The SCPA is solely responsible for the revenue bonds it issues, with no obligation of the state or taxpayers.

View the Moody's and S&P reports on the SCPA website.

About South Carolina Ports Authority

SCPA Container Volume Up Four Percent; Organizational Realignment Plans Announced

CHARLESTON, SC - September 14, 2015 - On the heels of announcing five-year plans for growth, investment and cargo base expansion at the State of the Port, South Carolina Ports Authority (SCPA) reported a 4 percent increase in August container volumes over the same month last year.

SCPA handled 170,528 twenty-foot equivalent units (TEUs) in August. With 345,751 TEUs moved during the first two months of the 2016 fiscal year, container volume is up 8.8 percent year-over-year.

As measured in pier containers, nearly 97,000 boxes moved across SCPA docks in August. Fiscal year-to-date pier container volume is up 8.1 percent, with 195,703 boxes handled during the last two months.

"August was a strong month across all business segments," said Jim Newsome, SCPA president and CEO. "This broad-based growth is indicative of the modest, sustained volume increases we're expecting as the 2016 fiscal year progresses. I continue to believe that Southeastern ports will see relatively strong growth compared to the overall U.S. market."

Non-containerized cargo volumes also increased in August. Charleston moved 73,288 pier tons during the month, and fiscal year-to-date volumes are nearly 39 percent higher than plan. Georgetown handled 8,471 pier tons in August, pushing SCPA's total fiscal year-to-date breakbulk volumes to 81,758 pier tons, 19.2 percent ahead of plan.

The Inland Port also saw a strong month, handling 7,322 rail moves in August. With 14,889 total rail moves handled fiscal year to date, the facility's strong volumes are 52 percent higher than plan.

Board Action
In action items, the Board approved the purchase of electrical equipment in preparation for the installation of additional refrigerated container racks at the Wando Terminal, and authorized the replacement of control systems and drives for 19 SCPA rubber-tired gantry cranes. A contract to S&ME, Inc. was also approved as part of the Wando Wharf structural improvement project, which will prepare the terminal to accommodate larger vessels and cranes while maintaining operations at SCPA's busiest container terminal.

The Board adopted a resolution releasing 28.89 acres of property to the Charleston Naval Complex for transfer to Palmetto Railways for development related to the Intermodal Container Transfer Facility. The property was originally included as part of a larger parcel leased by SCPA in 1999 for the development of the Navy Base Terminal. The Board also approved the sale of 0.92 acres of the former Coal Tipple property to Kinder Morgan for $318,000.

The Board also approved a resolution authorizing SCPA management to begin the process of issuing $300 million in revenue bonds. The bonds will support capital expenditures planned through fiscal year 2019, including Navy Base Terminal site preparation work, the Wando Welch Terminal (WWT) wharf strengthening project and the two super post-Panamax cranes on order for WWT.

The Board elected officers to serve two-year terms beginning in 2016, with Pat McKinney to replace Bill Stern as Chair. Pamela Lackey will serve as Vice-Chair; Willie Jeffries, Secretary; and Mike Sisk, Treasurer.

Organizational Announcement
Newsome presented an organizational realignment plan to the Board that provides for five direct reports at the Senior Vice President level: Jack Ellenberg, Strategic Projects; Peter Hughes, Finance and Administration; Barbara Melvin, Operations and Terminals; Paul McClintock, Sales and Marketing; and Catherine Templeton, Human Resources, External Affairs and Legal. The new structure will be effective September 17.

"The realignment plan for SCPA's senior team supports our aggressive goals over the next five years," Newsome said. "I am confident that their skillful leadership well-positions the Port to meet the challenges ahead and enhances our ability to continue delivering a world-class product for our customers and stakeholders."

About SC Ports Authority

South Carolina Ports Authority (SPCA), 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 187,200 statewide jobs and generate nearly $53 billion annual economic activity. Home to the Southeast's deepest port, SCPA is the industry leader in delivering speed-to-market, seamless processes and flexibility to ensure reliable operations, big ship handling, efficient market reach and environmental responsibility. For more information on South Carolina Ports, please visit https://scspa.com.

South Carolina Ports Authority Generates $6.3 Billion Impact on Lowcountry Economy, $53 Billion Statewide

CHARLESTON, SC - SEPTEMBER 14, 2015 - South Carolina Ports Authority (SCPA) generates $6.3 billion in annual economic activity in the Lowcountry region and $53 billion statewide, according to the results of a study released today highlighting SCPA's role as an economic driver and key competitive advantage for South Carolina.

"The Port is our state's most strategic asset," said Jim Newsome, SCPA president and CEO. "It enables South Carolina to recruit and serve the needs of companies with international supply chains, and in doing so, spurs economic development opportunities and generates well-paying jobs for people across the state. As SCPA continues to grow our volumes and modernize our facilities, there is no question that our competitiveness will deliver significant benefits to our stakeholders, the people of South Carolina. Here in the Lowcountry, the Port is an important part of our history and will be a driving force in our economy well into the future."

The Lowcountry region, home to the Port of Charleston, has the largest SCPA footprint within the state with five operational terminals and one container terminal under construction. The study identified the following impacts of port operations on Beaufort, Colleton, Hampton, Jasper, Berkeley, Charleston and Dorchester counties:

Approximately 11.9 percent of the total statewide economic impact attributed to SCPA benefits the Lowcountry.
SCPA is responsible for nearly 23,000 jobs in the region.
More than $1.2 billion in labor income from SCPA operations is infused into the Lowcountry economy annually.

The study was completed by Joseph Von Nessen, a research economist in the University of South Carolina's Darla Moore School of Business. The results represent the total economic impact associated with port operations and port users during the 2014 calendar year. The impact of port operations derives from business activities at SCPA facilities in Charleston, Georgetown and Greer. The impact of the port users comprises all business activities among South Carolina firms that require a port facility to be completed.

"Port expansion is vital to the continued growth of South Carolina's economy in the coming years, and SCPA's strategic priorities ensure that our port system is prepared for the future," said Bill Stern, SCPA Board Chairman. "By the end of the decade we will achieve the deepest harbor on the East Coast, open a new container terminal on the former Charleston Navy Base and modernize our existing facilities. We are well-positioned to achieve strong volume growth that will benefit not only our port, but the entire state."

"For industry to succeed, an efficient and effective way to transport goods and services is crucial," said Secretary of Commerce Bobby Hitt. "Thanks to a robust infrastructure system - featuring the nation's most productive Port - South Carolina offers exceptional global connectivity, providing our businesses with access to marketplaces in all corners of the globe. From the tremendous success of our Inland Port to the continued growth and expansion of the Port of Charleston, I congratulate SCPA on its tremendous leadership, filling a critical role in the effort to keep our state moving forward."

The study concluded the following benefits of SCPA from a statewide impact perspective:

1 in every 11 jobs in South Carolina can be attributed directly or indirectly to SCPA. This corresponds to $10.2 billion in labor income that would not exist without the presence of SCPA.
On average, jobs directly or indirectly supported by the Port pay nearly 40 percent higher than the state's average annual salary.
The $53 billion in annual economic output supported by SCPA represents nearly 10 percent of South Carolina's total annual gross state product.
Port operations produce more than $912 million in tax revenue annually for the state.

"Although the Port's $53 billion economic impact is significant on its own terms, the Port's presence in South Carolina also has broader implications for long-run economic development in the state," said Von Nessen. "The key competitive advantage of the Port comes about through its ability to facilitate the ongoing development of export-oriented industry clusters, particularly in advanced manufacturing. As these industry clusters expand, they will build a strong, stable foundation for the state's economy that will generate higher and more consistent rates of economic growth across the state over time, which will benefit all South Carolinians."

USC was selected to complete the study through a partnership between SCPA and the South Carolina Applied Research Center for Supply Chain and Logistics (ARC). ARC was established by the South Carolina Department of Commerce in conjunction with the South Carolina Research Authority to focus on supply chain and logistics applied research services in collaboration with businesses and state academic institutions.

"We are excited to have this economic impact study for SCPA as our initial project for the newly established center," said Peter Straub, ARC Executive Director. "This study not only highlights the great impact of the SCPA on the state of South Carolina, it also identifies the strength of the business growth in South Carolina. The study exemplifies the role of SCPA as the primary catalyst in the supply chain and logistics process for the businesses in the Palmetto State."

SCPA officials will travel across the state from October through December for announcements of regional-specific data included in the study beyond the Lowcountry, including the Pee Dee, Midlands and Upstate.

View the Lowcountry and statewide economic impact information here.

About South Carolina Ports Authority

Newsome's State of the Port Predicts Decisive Five Years Ahead for SCPA

CHARLESTON, SC - SEPTEMBER 14, 2015 - Sustaining above-market container volume growth, achieving the deepest harbor on the East Coast, investing in infrastructure and expanding its cargo base topped the list of South Carolina Ports Authority (SCPA) five-year initiatives highlighted today at the State of the Port.

In his seventh address at the annual Propeller Club of Charleston event, president and CEO Jim Newsome reflected on the volume and revenue gains that well-position SCPA to face the challenges ahead for South Carolina's public port system.

"Within the state, we are an economic driver and strategic asset that should be a source of pride for our shareholders, the people of South Carolina," Newsome said. "From a competitive standpoint, we offer the best product at the lowest cost in the U.S. port industry. Our above-market growth is an achievement that has positioned the Port as a strong and visible global brand and will continue to pay dividends to the state and region?s economies."

SCPA reported a nearly 15 percent fiscal year-over-year increase in container volume in 2015, handling 1.9 million twenty-foot equivalent units (TEUs). Charleston breakbulk grew 7 percent over planned volumes, with 900,000 pier tons handled during FY2015. A record-breaking 253,338 vehicles moved across SCPA docks, up 15 percent from the previous record of 219,900 vehicles in FY2008.

Newsome highlighted SCPA?s significant financial growth over the last five fiscal years, including a 75 percent increase in revenue from $112 million in FY2010 to $196 million in FY2015. During that time, operating earnings jumped from $8.4 million to $30 million, and pier container volumes, or boxes handled, increased from 741,000 to 1.095 million.

Newsome said SCPA?s ability to build upon this success over the next five years will be decisive for the Port. Strong fundamentals within the Southeast region will support the Port?s aggressive goals, providing a growing consumer population base that creates demand for imports as well as an expanding manufacturing industry that requires deepwater for heavy export cargo. Included in SCPA?s long-range goals is the climb from top-ten to top-five U.S. container port volume ranking by the end of the decade.

Planned volume gains are also linked to Charleston?s compelling opportunity to serve big ships calling the East Coast. With alliances among the major shipping lines firmly in place and 90 percent of new ocean vessels to be built for 7,500 TEUs or greater, shippers will become increasingly dependent on ports to offer deep and wide harbors for reliable access. The expansion of the Panama Canal and raising of the Bayonne Bridge in New Jersey, both slated for completion next year, will also bring post-Panamax vessels to the Southeast in greater frequency.

SCPA's efforts to deepen the Charleston Harbor to 52 feet are on schedule, with a firm focus on expediting the Preconstruction Engineering and Design Phase of the project. Construction is expected to be completed by 2020, enabling Charleston Harbor to offer shippers 24-hour access to 48 feet of draft.

In addition to the completion of harbor deepening, SCPA will also focus on investments to terminal capacity and infrastructure, including construction progress on the Navy Base Terminal and Wando Welch Terminal wharf strengthening project. Newsome cited the State of South Carolina as a committed partner in the Port's long-term success, with planned investments in port-related infrastructure including harbor deepening, the Navy Base Terminal access road, and Intermodal Container Transfer Facility.

"Significant investment is required to be a major U.S. container port, and earning adequate return on capital will be a challenge for us in the years ahead," Newsome said. "In addition to maintaining above-market growth and delivering high value for the reliability and cost of service we offer, there are a number of actions required to realize these investments: an improved contractual structure and revenue model from port clients; firm prioritization of capital expenditures; and an inward focus on organizational streamlining, effectiveness and productivity."

Newsome cited a successful trucking community and support of both Class One rail carriers serving the Port as critical to SCPA's long-term ability to handle growing container volumes. SCPA extended gate hours in February and maintains low truck turn times to support productivity of the trucking industry, a key asset of freight movement. SCPA's efforts to grow rail volumes have been successful, with 22 percent of SCPA's container volume handled by intermodal rail in FY2015. Newsome pointed to improvement in intermodal infrastructure as essential to the Port's ability to attract cargo, as inland transportation costs play a key role in global supply chain decisions.

Expansion of the Port's cargo base will drive planned volume increases, Newsome said. In addition to the cargo that naturally flows through South Carolina's port facilities, SCPA will continue to pursue discretionary cargo, including Midwestern agriculture products and plastics from the Gulf. Private sector investment in port-related infrastructure is critical to serve these growing markets.

"In order to expand our cargo base, the Port must continue intensive efforts to connect the dots between major economic development opportunities, our capable harbor, and the necessary infrastructure to serve growing markets," Newsome said. "Our Inland Port in Greer is a great example of this. The facility saw tremendous success in its first full fiscal year of operation and will likely be expanded in FY2017, and I envision opportunities to consider additional inland port locations in the future."

Other long-term investments for the SCPA include progress on the Jasper Ocean Terminal (JOT), which represents the next major increment of Southeast container port capacity. Newsome pointed to the significant capital requirements necessary for the terminal to be realized, including deepening the Savannah River to at least 52 feet and providing adequate road and rail infrastructure with access for both Class One railroads. The JOT Joint Project Office is expected to begin the permitting process for the terminal later this fiscal year.

"The next five years bring great opportunity for our port," Newsome said. "By 2020 we will complete the harbor deepening project to 52 feet, open Phase One of the Navy Base Terminal and enjoy an operational dual-served intermodal container transfer facility. Delivering on our priorities and aggressive action will be required to meet these goals. The Port has a highly talented and skilled workforce, and with the commitment of our entire maritime community, I am confident that SCPA's best years are ahead."

View the State of the Port presentation here.

About South Carolina Ports Authority
South Carolina Ports Authority (SPCA), 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 187,200 statewide jobs and generate nearly $53 billion annual economic activity. Home to the Southeast's deepest port, SCPA is the industry leader in delivering speed-to-market, seamless processes and flexibility to ensure reliable operations, big ship handling, efficient market reach and environmental responsibility. For more information on South Carolina Ports, please visit www.scspa.com.

Charleston Harbor Deepening Project Receives Final U.S. Army Corps of Engineers Approval

CHARLESTON, SC - September 14, 2015 - Today the 52-foot Charleston Harbor Deepening Project announced receipt of its Chief's Report from the U.S. Army Corps of Engineers, their final substantive approval required for the project to progress through construction.

The report by Lieutenant General Thomas Bostick, Commanding General of the U.S. Army Corps of Engineers, to the Secretary of the Army outlines the recommendation of deepening the Charleston Harbor channel to 52 feet and entrance channel to 54 feet, as well as enlarging turning basins to accommodate for post-Panamax vessels calling South Carolina Port Authority's (SCPA) container terminals. After review by the Secretary's office, the report moves to the Office of Management and Budget for review and then to Congress for review and authorization, expected early next year.

"Receipt of the Chief's Report is tremendous news for SCPA," said Jim Newsome, SCPA president and CEO. "By the end of the decade, we will achieve 52 feet of depth and Charleston will be the deepest harbor on the East Coast. This depth advantage will provide our customers with 24-hour access to deepwater, a requirement for significant long-term volume growth in today's big-ship environment. We are grateful for the expertise and leadership of our partners, the US Army Corps of Engineers, who deliver today's news just four years after we began the deepening process."

The Preconstruction Engineering and Design (PED) phase of Charleston Harbor Deepening received federal funding in July and will begin in earnest with the signing of a Design Agreement between the Corps and SCPA. This federal investment will allow the Corps of Engineers to proceed with work in order to finalize the project design and produce construction contract documents. PED is the final major step in the technical work for deepening before dredging begins.

"South Carolina, the Southeastern region and our nation will enjoy the positive impacts of the Charleston Harbor Deepening for years to come," said SCPA Board Chairman Bill Stern. "Today's announcement reflects the dedication and united support of state and federal elected officials and the Obama Administration. This project ensures SCPA remains a competitive, growing port well into the future."

Efforts to deepen the Charleston Harbor began in 2011 in order to provide the depth necessary to handle post-Panamax vessel calls without tidal restriction. In 2012, the SC General Assembly set aside the full estimated state share of the deepening construction costs, and the project was named was named one of President Obama's 'We Can't Wait' initiatives.

Quotes:

"This is fantastic news for the Charleston Port and our state's economy. Ensuring the Charleston Harbor deepening project remains on track has been and remains a top priority for me. We've come a long way in a very short amount of time. I'm proud of Jim Newsome, the Port leadership team and all the work we have done thus far, but I will not stop pushing until this project is completed. With this latest development, we'll now push Congress to provide us with the tools needed to finish the job. I realize that jobs, both today and in the future, are at stake with this project. Our economic future, and the livelihood of thousands of people in the Palmetto State depend on getting this project done. When it comes to deepening Charleston Harbor, failure is simply not an option." - U.S. Senator Lindsey Graham

"I am thrilled that the Army Corps of Engineers has issued its final Chief's Report. More than 187,000 jobs in South Carolina are tied to the Port, which has a $53 billion economic impact on the state each year. I have worked with the Obama Administration to ensure that funds have been provided annually to carry out this review process. Now that the project has its final approval, I look forward to working with my colleagues in Congress to provide the authorization and funding necessary to deepen the harbor to 52 feet. This project will create good jobs and generate economic growth and opportunity throughout the state." - 6th District Congressman Jim Clyburn

"This is great news for the bright future ahead in the state of South Carolina. Port deepening is typically a long process. The turnover time of the process conducted by the Charleston Army Corp of Engineers is a significant accomplishment and they deserve acknowledgement for the work. Now, Congress must act to authorize the project. A deeper port in Charleston is common sense. Once that work is complete, larger ships will be able to come through the Canal and deliver goods to and from Atlantic and Gulf ports along the Eastern seaboard. This will be one of the key economic drivers of the 21st century. The economic growth for the state of South Carolina will be substantial. Deepening the Charleston Port provides enhances a critical artery to the American economic engine. People now will look to South Carolina as the critical entry point to the American business and consumer. If America is going to compete on the global stage, we need to be ready for this transformation. I am proud South Carolina will be home to the frontier of the cutting edge 21st century American economy." - 3rd District Congressman Jeff Duncan

"I'm extraordinarily proud that the Army Corps of Engineers has submitted the report for the Post-45 Charleston Harbor Deepening Project to Congress. This is a great example of teamwork by the entire SC delegation, and I'm happy to have been involved in moving it forward. Even though the Port isn't in my district, I know it provides an economic engine for the entire state. I look forward to swift Congressional authorization of Charleston-52." - 5th District Congressman Mick Mulvaney

"Congratulations to the Ports Authority and the Army Corps of Engineers. Once deepened, Charleston will be the most competitive port on the East Coast. With over 187,000 jobs in South Carolina tied to the port, the harbor deepening will bring significant benefits to our entire state, including the Grand Strand and Pee Dee." - 7th District Congressman Tom Rice

"The Charleston port has been a key component to the economic growth seen throughout the Lowcountry and the State. With the deepening of the harbor, the port will continue to remain competitive in the global marketplace as well as provide jobs and improve the quality of life for South Carolinians. I believe the US Army Corp of Engineers, the Charleston District in particular, deserves tremendous credit for finalizing the feasibility study on schedule." - 1st District Congressman Mark Sanford

"This is incredibly positive news for the Port and the entire state of South Carolina. I congratulate the US Army Corps of Engineers Charleston District and SCPA for this monumental achievement in a record amount of time." - Senator Larry Grooms, SC Review and Oversight Commission on the SCPA Chairman

"Today's receipt of the Chief's Report is a testament to years of hard work and outstanding leadership by our state, local, and federal partners. This world-class deepening project will help ensure our Port remains well-positioned for future growth." - Representative Jim Merrill, SC Review and Oversight Commission on the SCPA Vice-Chairman

SC Ports Authority Posts $30.4 Million in Operating Earnings

CHARLESTON, SC - AUGUST 19, 2015 - Today SC Ports Authority reported 2015 fiscal year-end operating earnings of $30.4 million and revenues of $196.8 million, significant increases over the previous year's financial performance.

From July through June, SCPA more than doubled its previous fiscal year's operating earnings of $14.3 million, while operating revenues increased 20 percent over FY2014 revenues of $32.6 million. Total operating expenses for the 2015 fiscal year totaled $166.3 million.

"The strong financial performance achieved during the 2015 fiscal year reflects the SCPA's focus on achieving the growth required to execute its aggressive capital investment plan," said SCPA Board Chairman Bill Stern.

The positive financial report comes on the heels of 14 percent FY2015 container volume growth reported last month. SCPA handled 1.9 million twenty-foot equivalent units (TEUs) during the period, an increase of 231,473 TEUS over the previous fiscal year. The fiscal year results continue SCPA's above-market growth trend, with 8 percent growth achieved during the 2014 fiscal year and 9 percent the prior year.

"With 14 percent container volume growth and operating cash flow well above plan, SCPA is well-positioned to continue moving forward with key strategic projects and above-market growth," said SCPA president and CEO Jim Newsome.

July Volumes

SCPA reported a strong start to the 2016 fiscal year, handling 175,223 TEUs in July for an increase of 14 percent over the same month last year. Calendar year to date, TEU volumes are up 14.2 percent over last year with 1.17 million TEUs handled since January.

As measured in pier containers, SCPA handled nearly 100,000 boxes last month for a gain of 12.8 percent over July 2014.

Non-containerized cargo volumes were positive in July, with 163,490 pier tons handled. Charleston moved 83,440 tons during the month, 47.7 percent higher than planned breakbulk volumes for the month. Tonnage was also ahead of plan at Georgetown in July, with 80,500 tons handled.

The Inland Port achieved record volumes in July, with 7,567 rail moves completed during the month. Growth at the facility has been strong since it opened in November 2013, and during its first full fiscal year of operation in FY2015, the Inland Port handled 58,407 total rail moves.

Board Action

In action items, the Board awarded construction contracts for the Wando Welch Terminal improvement project and the expansion of the refrigerated cargo yard at North Charleston Terminal.

To meet growing volume demand at the Inland Port, the Board approved a transfer of two rubber-tired gantry cranes from the Wando Welch Terminal to the terminal in Greer.

Community Giving Awards

SCPA announced $81,000 in grants to 42 charitable organizations through its annual Community Giving Program, which provides grant support in regions where SCPA operates in order to positively impact maritime commerce, economic development, the environment, and educational and community needs.

"The port's mission extends beyond maritime commerce and economic development activities, "said Newsome. "Community Giving is an important program that enables us to be a strong community partner and neighbor. From a large pool of worthy applicants, the organizations selected to receive grant funds will support critical programs and initiatives in the communities where we operate."

Recipients of a $5,000 grant included Charleston Waterkeeper, Chucktown Squash Scholars and Daniel Morgan Technology Center. Charleston Waterkeeper, whose mission is to protect and restore Charleston's waterways for the community and future generations, will utilize the grant to administer two months of laboratory water quality testing as part of the Recreational Water Quality Testing Program.

Chucktown Squash Scholars, an after-school youth development program that integrates the sport of squash with academic tutoring, literacy development, fitness education and community service, will utilize SCPA funds to administer its mentoring program for 50 students at three Charleston County School District Title One schools.

Daniel Morgan Technology Center, South Carolina's only secondary career center offering a global logistics program, will utilize the grant funds to purchase classroom equipment needed to deliver supply chain and logistics courses for Spartanburg High School and Broome High School students.

Other recipients earned $2,500 and $1,000 grants for numerous programs and efforts including mentoring, free book programs and STEAM (science, technology, engineering, arts and math) education; hunger relief and emergency assistance; litter collection and environmental monitoring programs; and community health programs.

Grant recipients include:

American Red Cross

Be a Mentor

Camp Rise Above

Charleston Gaillard Management Company

Charleston Habitat for Humanity

Community Pride, Inc.

East Cooper Meals on Wheels

Engaging Creative Minds

Friends of Coastal South Carolina

Friends of Keep Charleston Beautiful

Greater Charleston Business Alliance

Greer Relief & Resources Agency

Harvest Hope Food Bank

Hospice and Palliative Care Foundation

Jasper County First Steps

Junior Achievement of Central South Carolina

Lowcountry Food Bank

LowCountry Habitat for Humanity

Lowcountry Maritime Society

Lowcountry Orphan Relief

Metanoia

Palmetto Project/BEGIN WITH BOOKS

Reach Out and Read Carolinas

Redux Contemporary Art Center

Roscoe Reading Program

South Carolina Aquarium

South Carolina Maritime Museum

Ten at the Top

The Partners for a Better Community

The Salvation Army, Charleston Corps

The Village Group

Trident Literacy Association

United Ministries

Upstate Forever

USS Yorktown Foundation

Ward Leigh Foundation

Water Missions International

WINGS for kids

Wounded Nature - Working Veterans

Community Giving was created in 2012. For more information about the Community Giving program, visit Community Giving.

South Carolina Ports Authority (SPCA), 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 statewide jobs and generate nearly $45 billion annual economic activity. Home to the Southeast?s deepest port, SCPA is the industry leader in delivering speed-to-market, seamless processes and flexibility to ensure reliable operations, big ship handling, efficient market reach and environmental responsibility. For more information on South Carolina Ports, please visit www.scspa.com.

SC Ports Authority, Representative Jim Merrill and Senator Larry Grooms Announce Daniel Island Land Transfer

CHARLESTON, SC - AUGUST 19, 2015 - Today the South Carolina Ports Authority (SCPA), Representative Jim Merrill and Senator Larry Grooms announced the completion of a lease agreement granting oversight of a 50-acre land parcel on Daniel Island to the South Carolina Department of Parks, Recreation and Tourism (SCPRT) for public benefit.

The 99-year lease fulfills a state budget proviso requiring the SCPA to transfer 50 acres of its property on Daniel Island to the agency that oversees the state's parks and recreation facilities, providing residents of the City of Charleston visitors from across the TriCounty region access to additional passive and active recreational space.

"This land transfer is a significant milestone in safeguarding the future of the port and the Lowcountry," Representative Merrill said. "For over 15 years we have struggled to find a mutually-beneficial purpose for the surplus port property on Daniel Island. Now, due to the work of visionaries like the SCPA Board, Jim Newsome, Matt Sloan and a host of others, we can begin to see those plans take shape."

"By transferring 50 acres of land and also offering other port property on Thomas Island for sale to its previous owners, we're helping protect local quality of life while returning some property to the private sector," Senator Grooms said. "It's a great example of what can be accomplished when we work together to determine sound public policy."

"My goal all along has been to assure the residents of the Island that property previously proposed for a container terminal would no longer be on the table, and that the new port permitted and under construction on the former navy base would be the SCPA's future capacity in the Charleston area," Merrill said. "What began as a bitter fight and disagreement can now become a tremendous victory for all."

In addition to the recreational space to be managed by SCPRT, approximately 900 of the 1300 acres of SCPA-owned property on Daniel Island will be utilized for dredge disposal needs. Potential plans for the remaining acreage include the opportunity for The Daniel Island Company to acquire a small parcel proximate to its development. In addition, Representative Merrill and Senator Grooms are working with SCPA to secure the regulatory permissions required to utilize a portion of the property for a saltwater mitigation bank for South Carolina.

"While it is critical for the Port to maintain necessary dredge disposal capacity in preparation for our harbor deepening project, we are pleased that our surplus property can be utilized by local residents for recreational use," said SCPA president and CEO Jim Newsome. "We appreciate the involvement of Representative Merrill and Senator Grooms and believe that today's announcement is a very positive outcome both for the Port and for Daniel Island."

Above: A 50-acre property, noted in yellow, has been leased to South Carolina Department of Parks, Recreation and Tourism for public use.

About South Carolina Ports Authority

South Carolina Ports Authority (SPCA), 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 statewide jobs and generate nearly $45 billion annual economic activity. Home to the Southeast's deepest port, SCPA is the industry leader in delivering speed-to-market, seamless processes and flexibility to ensure reliable operations, big ship handling, efficient market reach and environmental responsibility. For more information on South Carolina Ports, please visit https://scspa.com.

Prev 1 … 28 29 30 31 32 … 73 Next