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Moody's Affirms Rating for SC Ports, Cites Advantage of Deep Water

Charleston - Moody’s Investors Service has affirmed an A1 rating for the South Carolina Ports Authority’s (SCPA) outstanding debt and provided a stable outlook, citing the agency’s strong operating history, favorable financial performance and distinct advantages such as deep water.

The ratings update said that due to the SCPA’s competitive advantages, such as proximity to open ocean, highly productive operations and a deep-water harbor, “the authority will be well-positioned after the Panama Canal expansion is completed” in 2015.

Additional strengths noted in the report are the SCPA’s well-balanced trade makeup and diverse business profile, very favorable financial performance and strong debt service coverage.

The report also credited the “strong commitment by the state of South Carolina to fund infrastructure improvements benefiting port activities” as another factor in the affirmed rating. The South Carolina General Assembly included $300 million in funding for the deepening of Charleston Harbor in the most recent legislative session.

The A1 rating on $170 million in outstanding port revenue bonds takes into consideration the port’s growth outlook and aggressive capital program to implement $1.3 billion in improvements over a decade. Revenue bonds issued by the SCPA are an obligation of the Ports Authority - not the state of South Carolina or taxpayers.

Further information is available online at www.moodys.com.

Contacts:

Allison Skipper, APR
Manager, Public Relations
South Carolina Ports Authority
843-577-8121

Moody’s Investors Service
212-553-0376

SC Reenters Export Log Trade with China

Charleston, SC - The first shipments of Southern yellow pine logs to China from either South Carolina or Virginia in over a year left the Port of Charleston's Wando Welch Terminal earlier this week. The 20 containers of approximately 800 logs are part of a pilot program with the Chinese government to restore limited log trade since a ban on South Carolina and Virginia logs was provisionally lifted earlier this year.

The pilot program is the result of months-long negotiations between the U.S. Department of Agriculture and the Chinese government regarding pest control. The Port of Charleston hosted Chinese government representatives in April for a demonstration and discussions, which resulted in the resumption of log exports under a pilot program which requires more stringent sampling and fumigation.

"South Carolina's forestry industry is a major driver of exports from our port, whether paper, wood pulp or logs," said Jim Newsome, president and CEO of the South Carolina Ports Authority, which owns and operates the Port of Charleston. "China is a rapidly expanding market for Southeast logs and lumber, so reopening the trade boosts volume at the port and supports jobs across the logistics industry."

The logs shipped this week were sourced from the Walterboro area and exported by Garley Forest Products, a Mississippi-based company that recently established in the Charleston area to take advantage of the Chinese pilot program. Leigh Allen, President of Garley, said the pilot program means additional steps to prepare the logs for export, but that it is worth it to reopen the log trade with China.

"The key to getting it done was working closely with the regulators at USDA to make sure the protocol was followed correctly. They were a huge help." Allen also said SCPA personnel also were instrumental in getting the trade going again.

South Carolina State Forester Gene Kodama praised the reopening of trade to China. "The resumption of log exports from Charleston is good news for South Carolina landowners and the forest industry," said Kodama. "If landowners grow more wood in response to expanding markets and manufacturing, the forest industry will surpass its $17 billion economic impact and its number-one status regarding job numbers and wages paid. And, the result will be an improved economy and environment for South Carolina."

In addition to exporting logs to China, Allen said his company is also shipping to India and Vietnam. He said that the Southeast region of the country is producing more pine logs than what local mills demand, so export markets help balance the supply and demand picture.

Allen said that demand in Asia for Southern pine is a growth market that is here to stay. He said that builders must turn to imported pine because the hardwood that is plentiful in Asia is too brittle to be utilized in construction. By comparison, homebuilding in India and China is greatly outpacing the U.S. market, Allen said.

"We feel good about the market," Allen said. "It's a great opportunity for the landowners in the Southeast, especially near the deep-water ports that serve the Far East."

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 and Georgetown, handling international commerce valued at more than $58 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 www.scspa.com.

Newsome Highlights Harbor Deepening Progress, Business Growth During State-of-the-Port Address

Charleston, SC - In his fourth State-of-the-Port Address since taking the helm of the state's public port system in 2009, the leader of the South Carolina Ports Authority (SCPA) highlighted business growth and major progress on key initiatives such as Charleston's harbor deepening project and the inland port during the Propeller Club of Charleston's annual event.

Speaking to a record crowd of nearly 600 local maritime and business leaders gathered for the luncheon, SCPA President and CEO Jim Newsome underscored the long-term significance of Charleston's role as a port city.

"Charleston has prospered because it is surrounded by water," Newsome said. "It is very clear today, in the era of global manufacturing and global sourcing, a state with a great port will prosper disproportionately and become a visible player in the global marketplace."

Newsome highlighted recent achievements in the port's business, which saw its strongest quarter (July-September) for container volume in four years, while non-container tonnage at both Charleston and Georgetown also has been on the rise. This could not be possible without the re-establishment of the SCPA's global brand and an aggressive sales posture.

"The port business is not a spectator sport, and we are very active in the market, wherever it is in the world," he stated. He also cited broad support from leaders such as the state's Congressional delegation, Governor Haley and her Cabinet, the state Legislature and the area's mayors as critical to the port's success.

The most prevalent trend in the industry to impact Charleston, he shared, is the development of very large containerships, defined as being larger than 7,500 20-foot equivalent units (TEUs) of capacity. The Port of Charleston is already handling ships of this size and larger, with the biggest vessels using the tides to sail in and out fully loaded with up to 48 feet of draft.

For ports, "the ability to grow will be governed by the achievement of untidally restricted deepwater harbors and supporting inland infrastructure to reach markets efficiently," Newsome said. To support the expected surge of post-Panamax ship traffic in coming years, a post-45-foot deepening project is underway in Charleston. Progress on that project over the past year has been "truly remarkable," according to Newsome.

"Today, we are part of President Obama's We Can't Wait initiative and a top-five harbor in terms of prioritization," he said. And despite future funding uncertainty for projects on a federal level, Newsome praised the South Carolina Legislature, which "has acted resolutely to put the entire funding of $300 million aside as a clear message that we cannot wait to have our harbor deepened."

In addition to harbor deepening, Newsome highlighted the progress on the SCPA's inland port project with Norfolk Southern in Greer, SC, which was initiated with an engineering study in July of this year. Additionally, the SCPA is working collaboratively with CSX on rail initiatives to boost the port's business.

"It is vital that both Class One railroads serving the East Coast see Charleston as a strategically important part of their expansion," Newsome stated.

Newsome emphasized the SCPA's role in generating economic opportunity since the organization's founding in 1942. "Our port is the major economic development engine for our state, as it always has been in history and will always be in the future. And, economic development is about jobs," Newsome said. "Growth is the operative word in being a productive component in the job creation engine."

The success of the port over the foreseeable future, he stated, will be because of collaborative efforts between all facets of the maritime community, whether public or private sector.

"Cooperation is key, and we have no time to waste," he emphasized. "It is incumbent to be aggressive in courting new business, provide competitive services, and most importantly, work together for the greater good of our port, our industry, and our state."

Despite the work to be done, Newsome reiterated his optimism for the future, given the many advantages of the Port of Charleston as well as the talent of the local maritime community.

"As I said to you when we first met, and I, more than ever, believe this to be the case today - our best years in this port are ahead of us, not behind us."

"While we still have a long way to go, great strides have been made to deepen the Charleston Harbor. Our efforts here at home have generated a national discussion about the need to modernize our nation's port infrastructure, and because of that Charleston is now a national priority." As a result of Jim Newsome and the Board's leadership, as well as the expert support of his professional staff, the Port of Charleston is going through a renaissance that will secure its position as the Crown Jewel of South Carolina's economy and one of the most modern and vibrant ports in the United States."This has been made possible through dogged determination and teamwork at all levels of government and private sector. Today, the State of the Port has never been better and I look forward to continuing to work with Jim and his team to grow our Port."

"The future of our Port is incredibly bright. With new routes around the world, the Navy base terminal and the forward-thinking inland port on the horizon, Charleston has incredible momentum heading into the coming post-Panamax era. Strong leadership from Jim Newsome has positioned our port for long-term economic success, and our state will be better served for it."

"Jim Newsome understands the vital role our ports play in South Carolina's economy." He has a vision for the future, and it has been my pleasure to work with him to ensure that a major piece of that vision - the deepening of the Charleston Harbor - is expedited." His leadership is important to the continued and growing success of our ports, and I look forward to working with him to reach that goal."

"The South Carolina Ports Authority, under the leadership of Jim Newsome, has progressed substantially over the past three years and continues to be a driving factor behind South Carolina's economy. I remain committed to working with Jim and the rest of the South Carolina Congressional Delegation to ensure that the Charleston Port continues on its path to success."

"With the Panama Canal expansion fast upon us, it is imperative that the State Ports Authority is led by someone with both a passion for South Carolina and a strong vision for our future. Thankfully over the past three years Jim Newsome has proven to be that leader. The growth we've seen over the past few years is only a hint of what's to come, and I look forward to working with Jim as we welcome more and more business to South Carolina."

"The Port of Charleston is a vital partner to the Upstate of South Carolina. "Our companies do business through the port and maintain a strong working relationship. "This partnership is evident with the placing of the inland port in Greer. "We look forward to the growth and thank Mr. Newsome for his vision on this endeavor."

"We've been able to announce more than 28,000 jobs since taking office due, in no small part, to our ports. Charleston harbor is second to none. From day one we said we would make sure our dredging project happens, and that Charleston will have the most vibrant deep water port on the east coast." We couldn't be more excited about the progress our state has made over the last year and the consensus among leaders in South Carolina and Washington that it's time to deepen Charleston - it's a huge win for our economy and state as a whole - and we will continue working with Washington to make this process smoother, and ultimately, faster. But what's more is that we're committed to the strengthening and success of all of our ports - our ports are vital parts of our state's economic development engine, and our work won't be finished until Charleston, Georgetown and Jasper are thriving."

"Jim Newsome is one of the hardest working people I know. He's put together a top-notch team and the turnaround they've made is inspiring." Success breeds success and it's clear that South Carolina's ports have the momentum. We have high expectations for Jim and his team and they continue to deliver for customers and the people of South Carolina."

"I have witnessed the changes the port has undergone during Jim Newsome's tenure and I am confident now more than ever that our port system is headed in the right direction. I am pleased to see the progress being made on multiple fronts - cargo growth, harbor deepening, the inland port, the Navy Base terminal - and how these initiatives will impact on our state and our region."

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"This year's State-of-the-Port Address marks a time to pause and reflect on the growth the Port has experienced over the last three years under Jim Newsome's leadership. I look forward to watching this momentum continue to grow in the coming years and the positive impact it will have on our city."

Wheeler Joins SC Ports Authority Sales Team

Charleston, SC - The South Carolina Ports Authority (SCPA) has hired John M. Wheeler to the position of Vice President, Carrier Sales, effective October 29. The announcement was made at today’s regular SCPA Board meeting.

Wheeler will report to Paul McClintock, Senior Vice President & Chief Commercial Officer, and will lead ocean carrier sales efforts for South Carolina’s public port system. He will be based in Charleston at the SCPA’s headquarters.

“John brings to the South Carolina Ports Authority a wealth of industry knowledge and experience over his very successful career,” said Jim Newsome, President & CEO of the SCPA. “While we continue to grow our ports’ business and realize the deepening of Charleston Harbor, John will be an effective addition to our sales force.”

Wheeler has more than 38 years of experience in the shipping industry at various levels of operations, sales and management. Most recently, he was Senior Director of Trade Development at the Georgia Ports Authority, where he oversaw all carrier sales and contract negotiation efforts as well as an international sales team and agency network spanning six continents. Prior to joining that organization in 1989, Wheeler worked as a Regional Sales Manager for Hanjin Shipping, responsible for the U.S. Northeast and Mid-Atlantic regions.

“As ocean carriers look to reduce their 'per slot' costs by deploying larger draft vessels, deep water becomes more critical every day,” said Wheeler. “The Port of Charleston is ready and strategically positioned today to handle the largest ships transiting either canal. I am very excited to join the team of the South Carolina Ports Authority, which is the most skilled, aggressive, and customer-focused port in the industry.”

In other personnel changes announced today, Jack Ellenberg is being promoted to Senior Vice President, Economic Development and Projects, with expanded responsibilities for the SCPA’s business development efforts. Art Pruett will assume the role of Vice President, Cargo Sales, and will oversee the recruitment of cargo accounts as well as the SCPA’s cargo sales team. Additionally, Mike Stresemann is being promoted to Vice President, Heavy Lift Maintenance.

The first quarter of the fiscal year (July-September) was the strongest quarter for Charleston container volume in four years with 400,492 20-foot-equivalent units (TEUs) handled, a 13.3 percent gain over the same period last year. Volume for the calendar year to date in TEUs was up 9.4 percent. September container volume in the Port of Charleston continued to show year-over-year growth. The port handled 131,686 last month, a 5.3 percent increase over the same month last year.

Breakbulk volume at the Port of Charleston surged to its highest quarter in more than two decades, with 302,611 pier tons handled from July through September. Non-container tonnage across the SCPA during the first quarter of the fiscal year was up 27.6 percent over the same period in 2011, with 442,848 pier tons recorded at the ports of Charleston and Georgetown. In September, the SCPA handled 159,476 pier tons of non-containerized cargo at the two ports.

“These gains are significant as they come in the face of a tepid global economy,” said Newsome. “The port will need to continue to expand its cargo base to make further progress.”

In other action, the SCPA Board approved a $571,850 contract to Palmetto Gunite Construction Company of Ravenel for wharf substructure repairs at Columbus Street Terminal. The Board also authorized a contract not to exceed $600,000 to Marinex Dredging for maintenance berth dredging at the Wando Welch Terminal. The work will be completed in November.

Charleston Fastest-Growing Top 10 U.S. Container Port in 2012

Charleston, SC - The Port of Charleston was the fastest-growing top 10 U.S. container port for the first six months of 2012. Charleston container volume grew 7.4 percent from January to June this calendar year, edging out other top 10 ports on both the U.S. East and West coasts.

Additionally, in fiscal year end results announced at today’s regular Board meeting, South Carolina’s public seaport system grew volumes across all business segments during FY 2012, capping a year marked by new shipping services, the addition of transloading facilities and a rail drayage program, and significant progress on Charleston’s Harbor Deepening Project.

Container business at the Port of Charleston was up 3.5 percent in the fiscal year that ended June 30, with 1.43 million 20-foot equivalent units (TEUs) handled last fiscal year. Representing further recovery in trade activity following the global recession, the fourth quarter of FY12 (April-June) was the Port of Charleston’s highest quarter for container volume in more than three years.

“With volumes rebounding, we’ll continue our aggressive business development posture highlighting Charleston’s deep water advantage relative to other ports in the region,” said Jim Newsome, president and CEO of the South Carolina Ports Authority (SCPA). “We are laser focused on attracting new business, adding shipping services and growing our cargo base, particularly exports that require deep water facilities.”
Demonstrating the SCPA’s focus on diversifying its cargo business, breakbulk volumes surged to a more than 42 percent gain from the previous fiscal year, with 1.4 million pier tons recorded at South Carolina’s public port facilities in FY12. In the Port of Charleston, the SCPA handled 863,471 pier tons of non-containerized cargo last fiscal year, a nearly 21 percent increase from the previous year. Major improvements to Columbus Street Terminal completed last year have boosted the SCPA’s breakbulk handling of vehicles, heavy equipment, oversized/overweight and traditional breakbulk commodities.

In the Port of Georgetown, business at the dock nearly doubled last year. In fiscal year 2012, Georgetown handled 548,919 pier tons of cargo, with major commodities including bulk cement and petroleum coke.

Newsome also highlighted the significant progress made on the Charleston Harbor Post 45 Harbor Deepening Project during the past fiscal year. The project was included for the first time in the President’s Budget for fiscal year 2013 and was one of seven priority infrastructure projects included for expediting in the Administration’s “We Can’t Wait” initiative. This expediting, along with new streamlining measures from the U.S. Army Corps of Engineers, means that the project could be completed by 2019, or five years earlier than initially announced.

Charleston’s Harbor Deepening Project got another major boost when the South Carolina General Assembly moved to fully fund the project’s construction phase by setting aside the entire $300 million estimated cost. This allocation would not only cover the state’s 60 percent share, or $180 million, of the cost, but it would also fund the federal share of deepening Charleston Harbor to 50 feet or greater, if needed.

In addition, Newsome noted several key accomplishments from FY12, including:

July Business Results:

In July, the Port of Charleston handled 131,767 TEUs, a 16 percent increase from the same month last year and a nearly seven percent gain from June.

“We are beginning to see the additional volume from new shipping services in our port, which are performing very well,” said Newsome.

Other Board Action:

In other action, the SCPA Board approved a resolution authorizing the president and CEO to take any actions needed to bring to fruition the South Carolina Inland Port in Greer, SC at a cost of up to $25 million. The project was included in the budget for the current fiscal year.

The Board also approved two change orders to existing contracts to Jay Cashman and HITT Contracting, Inc. for work that is under way to support cargo operations in the Port of Charleston.

Jim Newsome also announced that Parsons Brinckerhoff has been selected as the SCPA’s primary engineering firm. The global engineering firm has more than 150 offices on five continents and currently provides project management and oversight on the construction of the Navy Base Terminal in North Charleston.

About the South Carolina State Ports Authority
The South Carolina State Ports Authority, established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston and Georgetown, handling international commerce valued at more than $58 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 www.scspa.com.

President Names Charleston Harbor Deepening to Priority Infrastructure List

Charleston, SC - The President of the United States has named Charleston's Post 45 Harbor Deepening Project one of the nation's seven priority infrastructure projects, committing that the project's study and necessary reviews will be completed by September 2015.

The initial list of projects, which is part of the Administration's We Can"t Wait initiative, is targeted to expedite the most critical infrastructure projects in the country. Charleston's harbor deepening is one of seven projects in five ports included in the initiative, which was announced by The White House Wednesday evening.

The news builds upon last week's update from the U.S. Army Corps of Engineers" Charleston District announcing a reduced timeline and cost estimate for Charleston's feasibility study. Under the new Administration program, the study and federal reviews now will be further expedited and will be completed up to one year earlier.

"This announcement represents more good news for our deepening project, and demonstrates that the highest levels of our government understand the critical need to advance this project," said Jim Newsome, president and CEO of the South Carolina Ports Authority (SCPA). "In just two years, we have gone from not being included in the President's Budget to now being a top priority. We are grateful for the Administration's commitment."

We Can't Wait is a direct result of a Presidential Executive Order issued in March, which called for a government-wide effort to streamline the permitting and review process for vital infrastructure projects in communities across the nation.

The SCPA, along with U.S. Sen. Lindsey Graham, Congressman Jim Clyburn and Charleston Mayor Joe Riley, in April sent letters to the Administration and members of the steering committee charged with this initiative, asking that they include Charleston's Post 45 Project in their priority infrastructure list. The steering committee, comprised of leadership of the U.S. Army as well as the federal departments of Transportation, Commerce and Agriculture, participated in the selection process.

"This priority infrastructure program is a natural extension of the Obama Administration's export initiative," Newsome said. "There is clearly a recognition that in order to double the nation's exports - which are primarily sourced from the Southeast region - a port in this region must be deepened to at least 50 feet to accommodate the largest ships expected to call our coast without tidal restriction. We anticipate a favorable cost-to-benefit ratio in the Chief's Report allowing for a true post-Panamax harbor allowing for two-way vessel traffic."

A report to Congress released last month by the Corps of Engineers' Institute for Water Resources indicated that modernizing Southeast and Gulf ports was most critical to serving the nation's export needs over the coming years.

In February, the Obama Administration included $3.5 million toward the project's feasibility study in the President's Budget for fiscal year 2013. The deepening of Charleston Harbor to 50 feet is predicted to provide significant economic benefit to the Southeast region and the entire nation, with $106 million in net benefit to the nation estimated on an annual basis.

Last month, the South Carolina Legislature committed $300 million in the state budget to fund the construction of a post-45-foot harbor project for the Port of Charleston. This allocation could cover the entire estimated cost to deepen the harbor to 50 feet or greater, once the project receives authorization from Congress.

With 45 feet of water at mean low tide, Charleston Harbor is currently the deepest port in the region, serving ships drawing up to 48 feet of water on the tides. Deepening Charleston Harbor would open the port to the biggest vessels 24 hours a day, under any tidal condition. The Corps stated in its Reconnaissance Study in 2010 that Charleston is likely "the cheapest South Atlantic harbor to deepen to 50 feet."

About the South Carolina State Ports Authority
The South Carolina State Ports Authority, established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston and Georgetown, handling international commerce valued at more than $58 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 www.scspa.com.

Charleston Harbor Deepening To Be Completed Sooner, Cost Less

Charleston, SC - Charleston's Post 45 Harbor Deepening Project is expected to be completed sooner and cost less, the U.S. Army Corps of Engineers' Charleston District shared today during an update to stakeholders.

According to the Corps, the deepening project's feasibility study, initially expected to be completed in five to eight years, is now expected to be finalized in fewer than four years from now. This means that a 50-foot deepening project for Charleston Harbor can be realized within this decade, four years earlier than initial projections.

"The deepening of Charleston Harbor is the number one strategic priority for this port community," said Jim Newsome, president and CEO of the South Carolina Ports Authority (SCPA). "We are encouraged by today's news that Charleston's deepening project will be considered a national example for completing studies more expeditiously."

The Corps also announced a cost-savings of about $5 million for the feasibility study of the project. The study is now expected to cost about $15 million rather than $20 million as previously estimated. Both the time and cost savings are the result of a new initiative launched at the headquarters level of the Corps of Engineers to streamline the civil works planning process.

"In just over one year, this project has made tremendous leaps and bounds, which is a credit to the many leaders who have advocated on our behalf," said Newsome. "The Corps is an excellent partner and we will continue to work collaboratively to realize our deepening project, which is essential to serving the changing needs of trade, as quickly as possible."

The deepening of Charleston Harbor to 50 feet is predicted to provide significant economic benefit to the Southeast region and the entire nation, with $106 million in net benefit to the nation estimated on an annual basis.

In February, the Administration included $3.5 million toward the project's feasibility study in the President's Budget for fiscal year 2013. That allocation, along with the funds already included in the Corps' Work Plan, means that the federal share of the feasibility study is more than halfway funded.

The SCPA's funding toward the feasibility study can be accelerated as needed to keep progress moving forward. The Corps and the SCPA signed a feasibility cost-sharing agreement in June of 2011 to officially kick off work on the study.

Last month, the South Carolina Legislature committed $300 million in the state budget to fund the construction of a post-45-foot harbor project for the Port of Charleston. This allocation could cover the entire estimated cost to deepen the harbor to 50 feet, once the project receives authorization from Congress.

With 45 feet of water at mean low tide, Charleston Harbor is currently the deepest port in the region, serving ships drawing up to 48 feet of water on the tides. Deepening Charleston Harbor would open the port to the biggest vessels 24 hours a day, under any tidal condition. The Corps stated in its Reconnaissance Study in 2010 that Charleston is likely "the cheapest South Atlantic harbor to deepen to 50 feet."

For more information:
Allison Skipper, APR
Manager, Public Relations
843-577-8121
www.scspa.com

"I'm very pleased the Army Corps has revised the deepening timeline and made adjustments which allow Charleston Harbor deepening to be completed sooner and at lower costs. Today's announcement is a step in the right direction, but there is more that needs to be done. We still need a national vision that ensures Charleston, and other ports, are ready to meet the biggest change in international shipping in the last hundred years. So while I appreciate today's announcement, I also know Congress has to step up and provide the regulatory relief and funding we desperately need to push this process forward. Time is of the essence and we have to get this done."
- Sen. Lindsey Graham (R)

"Today's news is an important step forward and I commend the Port leadership and the Corps for working together to lower costs and avoid delays. The Charleston port is a clear national priority that is best-suited to accommodate future shipping needs. Our state legislature has proven that South Carolina is ready and willing to commit the resources necessary to make the Charleston port post-Panamax ready. And at the federal level, we must continue to streamline the study and construction process, reduce unnecessary regulatory hurdles, and ensure a merit-based, transparent project selection process."
- Sen. Jim DeMint (R)

"I welcome today's announcement that the Army Corps has streamlined both the timeline and the cost of the deepening of the Charleston Harbor. The Panama Canal will be sending mega-ships through its channels in roughly two years, and we need to make every effort to bring the Charleston Port online to accommodate those massive cargo ships as soon as possible to remain competitive. We have made great progress in moving this project forward in the past year, and I will continue to work with the Obama Administration, the Ports Authority and our Congressional delegation to see the port project through to completion without delay."
- Congressman Jim Clyburn (D-District 6)

"This is fantastic news for the state of South Carolina. The Port of Charleston is such a valuable asset for the entire state, and an economic engine for Upstate communities. The Port is also a great incentive for businesses to relocate here or expand operations. I was pleasantly surprised to see both the cost estimates and completion times come back better than expected. A strong and competitive port is vital for putting South Carolinians back to work."
- Congressman Jeff Duncan (R-District 3)

"The port is indispensable to South Carolina's economy and the deepening of our port makes the most strategic and economic sense."
- Congressman Trey Gowdy (R-District 4)

"This is certainly great news for Charleston - anytime we can make projects move faster and more efficiently it is a win for all parties involved," Scott said. "The Port of Charleston has proved time and again its importance to our economy, and this will allow it to be an even stronger competitor for new shipments coming through the expanded Panama Canal."
- Congressman Tim Scott (R-District 1)

"The Deepening Project of the Charleston Port expansion is extremely important to South Carolina as well as the Southeastern United States's economies. Not only will this project create jobs and promote economic growth, it will be conducted in a much more cost-efficient and time-sensitive fashion. I am pleased with the announcement by the Army Corps of Engineers and look forward to working with my colleagues to ensure this project's completion."
- Congressman Joe Wilson (R-District 2)

"I have always said that on its merits the Charleston harbor was second to none, that those merits - and hard work - would make sure our dredging project happens, and that Charleston, South Carolina will have the most vibrant deepwater port on the east coast. We are excited the Army Corps has recognized the value of a deep Charleston port and pushed up the project date - a huge win for our economy and South Carolina as a whole - and we're not going to stop working with Washington to make this process stronger, smoother, and ultimately, faster."
- Governor Nikki Haley

"Today's announcement, and the earlier announcement of plans for an inland port, represent two of the most important economic development events that I can recall. Once accomplished, they will ensure our state's ability to compete for jobs globally well into the future."
- Sen. Hugh Leatherman, Chairman, Senate Finance Committee (R-Florence)

"This is an incredibly exciting week for South Carolina. On Monday we made the announcement about a new inland port in the Upstate and today the Corps brings this wonderful news. It shows commitment to a better South Carolina. It shows the Corps believes the State's investment in the deepening project is the right thing to do. When you also account for the port's current growth, what it means is that South Carolina is locked in, that the Palmetto State will remain a powerhouse in the global marketplace. More importantly, it means more jobs and better opportunities for folks across the state."
- Sen. Larry Grooms, Chairman, Review and Oversight Commission on the South Carolina Ports Authority, Chairman, Transportation Committee (R-Berkeley)

"The Port is a major artery in the flow of the lifeblood of South Carolina; its health and vitality contribute to the economic well-being of the entire state. The improved competitiveness of the Port of Charleston through this deepening project will benefit farmers and businesses exporting their goods to markets around the globe."
- Sen. Danny Verdin, Chairman, Agriculture and Natural Resources Committee (R-Laurens)

"A quicker, more economical Charleston Harbor deepening study reflects what Charlestonians have known for centuries. Charleston is the finest natural harbor on the East Coast.This blessing of geography - when coupled with our business-friendly leadership and outstanding port operations - is a competitive advantage in the battle to become the Southeast regional hub in a post-Panamax world."
- Sen. Chip Campsen (R-Charleston)

"Deepening the harbor means that more jobs will be created in our community and throughout South Carolina. Making this happen even sooner is great news for all South Carolinians."
- Sen. Robert Ford (D-Charleston)

"This is a great day for the Port of Charleston and all businesses across our state. On the heels of the General Assembly appropriating the full project cost of $300 million to deepen the Charleston Harbor the Corps today announced a reduced cost and expedited time line for the completion of the environmental impact study. This is exciting news and on behalf of South Carolinians in the upstate, we look forward to 2020."
- Rep. Brian White, Chairman, House Ways and Means Committee (R-Anderson)

"I am pleased with the Corps' announcement today. It proves that the General Assembly did the right thing when we voted to fully fund the harbor deepening project in this year's budget. This reaffirms that funding this project upfront was necessary to get this project moving forward as expeditiously as possible so we will begin to realize the benefits more quickly. I look forward to Charleston being a true post-Panamax harbor in this decade, as it is the only natural deep water port in the region."
- Rep. Jim Merrill, Vice Chairman, Review and Oversight Commission on the South Carolina Ports Authority (R-Berkeley)

"The news that the Port of Charleston deepening will happen sooner than expected and cost less is truly a "win" for South Carolina's economy. Without a doubt, deepening the Port will benefit companies throughout our state and help South Carolina better compete for new jobs and corporate investment. I thank my fellow members of the General Assembly who voted to fully fund harbor deepening in this year's state budget, paving the way for this critical project to move forward."
- Rep. Bill Sandifer, Chairman, Labor, Commerce and Industry Committee (R-Oconee)

"I wholeheartedly support the South Carolina Ports Authority's efforts to shorten the timeline and reduce the cost of harbor deepening and I think today's announcement is a great step in that direction. I feel it is too risky to rely on our federal government to make quick and logical decisions when it comes to this issue. I would urge all parties involved to continue to work diligently for a hasty completion of our deepening project and together we can look for more ways to continue to shorten the timeline. Deepening of the Charleston Harbor is the number one economic priority for the State of South Carolina."
- Rep. Chip Limehouse (R-Charleston), Chairman, Charleston County Legislative Delegation

"Today's announcement is great news for South Carolina. The General Assembly has committed to fully fund the deepening project, and the Corps has responded in-kind with a more cost-efficient and streamlined plan. The Corps should be commended for their efforts, and we look forward to realizing all of the benefits that this vital engineering project will bring to our state."
- Rep. Kenny Bingham (R-Lexington)

"The Port of Charleston is vital to our state. Deepening our harbor will make sure that we remain competitive and continue to create jobs in our area. I applaud the Corps of Engineers for recognizing the importance of this project, and how important it is to make it happen as soon as possible."
- Rep. Wendell Gilliard (D-Charleston)

"As announced by the Corps of Engineers, it is great news for all South Carolinians to learn that the deepening of the port will not only cost less but also will be finished earlier than originally planned. This announcement proves that cooperation between federal and state agencies can benefit South Carolina. Saving time and money will give the South Carolina Ports Authority an advantage over our competitors in Georgia and strengthen our push for economic growth in South Carolina."
- Rep. Harry Ott (D-Calhoun)

"I am happy with the Corps' announcement this morning. This proves that the General Assembly's commitment to fully fund our harbor deepening in this year's budget is helping in our efforts to make this project a reality."
- Rep. Murrell Smith (R-Sumter)

"Charleston has always had a rich maritime history, and today our port is our region's biggest economic engine. I have said before, and still firmly believe, that the deepening of Charleston's harbor is critically important to our community, our region, and our state's economic success. I thank President Obama and Vice President Biden for helping the Corps of Engineers streamline their process to ensure that our port will live up to her fullest potential as soon as is possible."
- Mayor Joe Riley, City of Charleston

"The SCMA is very pleased to see the Corps of Engineers' announcement of the shorter timetable for the completion of the Charleston Port deepening project. There is no infrastructure project in South Carolina that has a higher priority for the manufacturing sector. Our ability to grow and to create more high-paying jobs depends upon the deepening of our port. Additional access to global commerce that the deepening project will bring means long-term economic opportunity and prosperity for all citizens of South Carolina."
- Lewis F. Gossett, President and CEO of the South Carolina Manufacturers Alliance

"The business community is pleased with this morning's announcement by the Corps of Engineers. Completing the harbor deepening project as expeditiously as possible and at a reduced cost is of critical importance to all companies in our state that do business through the port. This announcement is a tremendous step in a positive direction for our state and the Southeastern region."
- Otis Rawl, President and CEO, South Carolina Chamber of Commerce

"South Carolina's maritime community is pleased that this project will be considered a national example for completing critical port infrastructure projects more quickly. Charleston's deepening project is a prime example of using public resources wisely to benefit the state, the region and the nation."
- Pam Zaresk, President, Maritime Association of South Carolina

"As the deepest harbor in the South Atlantic and the only Southeastern port efficiently handling fully loaded post-Panamax vessels, the Port of Charleston offers our region and state significant competitive advantages. This tremendous example of the U.S. Army Corps of Engineers and the Port working together to deepen Charleston's harbor four years earlier than expected, demonstrates to the world that the Charleston region truly offers a globally competitive, business-friendly environment."
- David Ginn, President & CEO, Charleston Regional Development Alliance

"This is great news for our region and our state. There is no infrastructure project more critical to our state right now than the deepening of Charleston's harbor. The harbor deepening is a next generation project for our state. It will position our region and our state for the future. We commend the US Army Corps of Engineers for their efforts to expedite the study process."
- Bryan Derreberry, President and CEO, Charleston Metro Chamber of Commerce

SC Ports Pursuing Inland Port to Improve Efficiency of Freight Movement

Charleston, SC - The South Carolina Ports Authority (SCPA) is pursuing the development of an inland port in Greer, South Carolina, to improve the efficiency of international container movements between the Port of Charleston, the South Carolina Upstate and neighboring states.

The SCPA Board today authorized the negotiation of a preliminary engineering contract with Patrick Engineering that is the first step in bringing this important project to realization. The firm has 13 offices across the U.S. and is partnering with South Carolina firm Davis and Floyd on the engineering work.

The SCPA's fiscal year 2013 capital plan included approximately $23.5 million in capital spending for this public-private partnership.

In 1982, the SCPA acquired a 100-acre site in Greer for the purposes of building an inland port, but it never gained significant traction and has been largely dormant over the last 25 years.

"The successful growth of intermodal container movements in our state and the region requires the development of state-of-the-art container handling facilities in the interior able to ground loaded and empty containers and leverage the efficiency and sustainability of rail transportation," said Jim Newsome, president and CEO of the SCPA. "The fact that the port will operate the facility provides an extension of our Charleston facilities into the hinterland, not dissimilar to the development of the Virginia Inland Port in Front Royal, VA some years ago."

"The I-26 corridor is a critical transportation artery in the Southeast. The development of this facility has the potential, in time, to improve the movement of freight in this corridor by converting 50,000 all-truck container moves to more efficient multimodal moves between the interior and the port. We see it as a game-changer for the port and the state of South Carolina," said Newsome. "The I-85 corridor, centered on the Greenville/Spartanburg area, is projected to be the fastest-growing part of the Southeast over the next 20 years. This facility will be a further catalyst to the development of an enhanced distribution hub in this area."

The engineering study will define the land footprint required to support the facility, the final cost, and key operational aspects and will be performed on a fast-track basis consistent with the aggressive overall timetable for the project.

Upon the receipt of necessary permits, the SCPA intends to seek Transportation Investment Generating Economic Recovery (TIGER) grant funds due to the multimodal characteristics of the project.

About the South Carolina State Ports Authority
The South Carolina State Ports Authority, established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston and Georgetown, handling international commerce valued at more than $58 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 www.scspa.com.

SC Legislature Commits $300 Million to Charleston Harbor Deepening

Charleston, SC - In a strong show of support for the deepening of Charleston Harbor, the South Carolina Legislature now has committed $300 million to fund the construction of a post-45-foot harbor project for the Port of Charleston. This allocation would cover the entire estimated cost to deepen the harbor to 50 feet, once the project receives authorization from Congress.

A conference committee comprised of leaders from both legislative houses announced today the amended state budget, which increased the cash contribution in the Harbor Deepening Reserve Fund to $300 million from $180 million previously approved by both the House of Representatives and Senate.

"We are tremendously grateful for the forward-thinking leadership in our legislature for recognizing how vital this project is to the entire state," said Bill Stern, chairman of the South Carolina Ports Authority (SCPA). "The Members of the House Ways & Means and Senate Finance Committees, joined by the Members of the Review and Oversight Commission on the South Carolina Ports Authority, have guided this appropriation across the finish line. This deep commitment is proof positive that South Carolina is serious about competing in a truly global business in order to boost jobs and opportunity for its citizens."

Following the completion of the Post 45 Project's feasibility study and authorization by Congress, the Harbor Deepening Reserve Fund would be used to pay for the actual construction of the deepening project, which is estimated at $300 million.

The cost-sharing structure for a Post 45 depth is 60 percent funded by the state, or $180 million. The additional $120 million in the fund would cover the federal share of the project's construction if federal funding is not available. The funds also could be used to keep the project moving forward, thereby losing no time due to funding constraints. Expenditures from the fund would require approval by the Joint Bond Review Committee comprised of both House and Senate Members.

"This level of commitment instills a great deal of confidence in our customers and shows that the Port of Charleston is ready and able to meet their long-term growth needs," said Jim Newsome, president and CEO of the SCPA. "We have a good partner in the Corps of Engineers, and we will continue our productive collaboration to deliver a true post-Panamax harbor in the South Atlantic as quickly as possible."

"I believe the entire legislature views the Port of Charleston's deepening project as our state's number one economic priority," said Sen. Hugh Leatherman, who chairs the Senate Finance Committee. "Last budget year, we committed that our state would find the money for this project. South Carolina has now fulfilled our end of the bargain, and we look forward to the Corps of Engineers delivering a timely study so that the work can get underway as expeditiously as possible."

"We recognize that our state's future is tied very much to the vitality and growth of our port," said Rep. Brian White, chairman of the House of Representatives Ways and Means Committee. "A large number of the companies that located in the Upstate and call South Carolina home chose our state because of our world-class port. By investing in the Port of Charleston, we are charting the course for a bright future."

"The port is South Carolina's gateway to global commerce," said Sen. Larry Grooms, chairman of the Senate Transportation Committee and the Review and Oversight Commission on the SCPA. "It would be hard to overstate how much our economic well-being depends on this project. If we want our state to grow, if we want to welcome new jobs, if we want to succeed on the world stage, our port must stay competitive. This is a major win."

"The future of South Carolina really is contingent upon the growth of our port, and the Charleston Harbor Deepening Project is an essential part of that," said Rep. Jim Merrill, vice chairman of the Review and Oversight Commission on the SCPA. "By funding the construction costs of the deepening now, we are showing that we as a state are serious about our competitive position relative to other ports in this region and the Port of Charleston's role as a major player in global shipping."

Charleston's Harbor Deepening Project has built considerable momentum since the project's feasibility study began last summer. Earlier this year, $3.5 million toward the project's feasibility study was included in the President's Budget for fiscal year 2013. That allocation, along with the funds already included in the Corps' Work Plan, means that the federal share of the feasibility study is more than halfway funded.

Already the deepest harbor in the region, Charleston's deepening project would open the port to the biggest vessels 24 hours a day, under any tidal condition. The Corps stated in its Reconnaissance Study in 2010 that Charleston is likely "the cheapest South Atlantic harbor to deepen to 50 feet."

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 and Georgetown, handling international commerce valued at more than $58 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 https://scspa.com.

SC Ports Adds Reinecke to Executive Sales Team

Charleston, SC - The South Carolina Ports Authority (SCPA) has hired Robert G. “Bob” Reinecke to the newly created position of Vice President, Global Account Sales. As such, he will lead Midwest sales and additional business development efforts for South Carolina’s public ports system.

Reinecke reports to Paul McClintock, Senior Vice President & Chief Commercial Officer, and is based in the Chicago, Ill. Area.

“Bob’s broad experience in the industry will be a tremendous asset to the South Carolina Ports Authority as we work to grow our Midwest presence,” said Jim Newsome, President & CEO of the SCPA. “This market is strategically important as we continue to expand exports and capitalize on Charleston’s deep water. We are pleased to welcome Bob to our organization.”

Reinecke brings to the SCPA nearly 30 years of experience in the shipping industry, with expertise in the retail and agricultural sectors. Most recently, he was Director of Midwest Sales for Hanjin Shipping, where he was responsible for a 14-state region and team of sales executives. Prior to that, he served as the President and General Manager for an agricultural-based NVOCC, assisting Midwest companies export to foreign markets.

The majority of his career was spent at CP Ships in various management roles across the company’s brands. Reinecke later worked at Hapag-Lloyd, which acquired CP Ships in 2005.

Reinecke earned a bachelor’s degree in business from Western Illinois University. He is a member of several trade organizations in the Midwest and serves on the advisory panel for the United States Soybean Export Council.

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 and Georgetown, handling international commerce valued at more than $58 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 www.scspa.com.

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