Category: Capital Investments

Charleston, SC - On the heels of announcing its fiscal year 2013 volume results at July's meeting, including a nine percent gain in container volume and a more than 14 percent increase in non-containerized cargo at its two ports, the South Carolina Ports Authority (SCPA) reported today its financial results for the year that ended June 30.

Operating revenues at the agency closed at $140.49 million for the 12-month period, seven percent ahead of the previous fiscal year's $130.95 million. The SCPA's FY2013 operating expenses were $127.77 million, leaving operating earnings of $12.72 million, which was a net gain of $5.45 million from the previous year.

"Given our aggressive capital investments over the next several years, it is essential to maintain a solid financial position and a steady stream of funds toward these important projects," Newsome said.

The SCPA is now two years into its 10-year, $1.3-billion capital plan that includes new equipment for handling the largest ships in the world's trade, upgrades to existing terminals, information systems and new facilities like the South Carolina Inland Port in Greer.

Progress on the 100-acre Upstate site has continued at a fast pace, and Monday marked the arrival of the first rubber-tired gantry (RTG) crane components to the facility. The SCPA is relocating three RTGs from Charleston to Greer in order to stack grounded containers in the inland port's storage yard. The first cargo is expected to arrive at the terminal in mid-October.

The largest single area of spending in the SCPA's capital plan is for the Navy Base Terminal, currently under construction in North Charleston. The facility's first major fill project - the $46-million upland and wall fill contract - is slated for completion by spring of 2014. At build out, the terminal will boost container capacity in the Port of Charleston by 50 percent.

South Carolina's public seaports posted gains in both the container and breakbulk segments in July, the SCPA reported today.

The Port of Charleston handled 136,159 20-foot equivalent units (TEUs) at its two container terminals last month, the strongest July since 2008. This represents a more than three percent gain over the same month last year and a 20 percent increase from July 2011. "

"The new and upsized services announced in recent month are starting up in earnest, and we will see the full result of those calls in fiscal year 2014," said Jim Newsome, the SCPA's president and CEO. "Heading into what is traditionally the peak season for imports, we are optimistic that Charleston will continue to post gains, and we expect that exports also will remain strong."

Non-containerized cargo across the SCPA's facilities in Charleston and Georgetown also rose in July.

In the Port of Charleston, the SCPA handled 51,375 tons of breakbulk cargo, a nearly four percent gain from the same month last year. Union Pier Terminal has experienced the greatest gains in tonnage, due to shipments of steel and wire rod and coil being shipped through the facility.

In the Port of Georgetown, the SCPA handled 59,731 pier tons in non-containerized cargo, a nearly 70 percent increase from the same month last year. The port's top commodities are bulk cement, petroleum coke and steel.

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

Charleston, SC - With volumes continuing to climb, the South Carolina Ports Authority (SCPA) Board of Directors today approved its fiscal year 2014 financial plan, which includes volume increases across business segments and $123 million in capital spending on a number of strategic projects.

During its regular monthly meeting, the Board approved the SCPA's fiscal plan for the coming 12 months. From July 1 to June 30, capital spending of $123 million will fund major infrastructure investments such as the new container terminal at the former Navy Base, new equipment to handle the increased size of ships in the port as well as other upgrades to existing facilities.

The largest single area of spending is for the South Carolina Inland Port in Greer, SC, with $29.1 million planned to cover the remaining SCPA share of the project. The new facility is slated for a September 2013 opening.

"Our public seaport system is an economic engine, spurring opportunity all across South Carolina," said Bill Stern, chairman of the SCPA Board. "The inland port will further expand the port?s connection to the Upstate and will drive job creation and investment to that region."

While the SCPA is a public agency, it does not utilize taxpayer dollars to fund its ongoing capital or operating needs. The SCPA's capital spending plan is funded internally and by the SCPA's ability to borrow long term in the marketplace.

The financial plan also projects a nearly six percent increase in container volume on the strength of new, weekly services commencing this summer and increased volume from existing services.

"Above-market growth is essential to carrying out our aggressive investment plans over the coming years," said Jim Newsome, president and CEO of the SCPA. "As post-Panamax ships continue to be deployed in the Port of Charleston, our deep shipping channels and dockside infrastructure become even more critical. Our plan reflects investments that will keep our ports competitive as our customers decide where to place service strings and route cargo."

In addition to container growth, also included in the FY2014 plan is a nearly 10 percent increase in breakbulk and non-containerized cargo at the Port of Charleston, due in part to a new, weekly service from Grieg Star Shipping announced earlier this year. The service calls at Union Pier Terminal.

At the Port of Georgetown, the SCPA projects a more than 13 percent boost in volume at the facility, which primarily handles bulk cement and petroleum coke products.

Furthermore, the fiscal plan calls for an increase in personnel, including the addition of 12 jobs at the South Carolina Inland Port.

In other business, the SCPA Board approved $24.9 million in spending for two new, super post-Panamax dockside cranes for North Charleston Terminal. The new, larger cranes replace two cranes built in 1989 and will have the outreach and lift capacity necessary to efficiently handle bigger ships in the port. Shanghai-based ZPMC, which previously delivered four super post-Panamax cranes to Charleston in 2007, will construct and deliver the cranes. The new equipment is expected to be delivered to the port during the summer of 2015.

Also during the meeting, the SCPA shared volume results for the month of May, which saw volume increases in both containerized and non-containerized cargo.

Container volume last month reached 139,143 20-foot equivalent units (TEUs), a five percent gain over the same month last year and the strongest month since October 2008. Charleston?s non-containerized tonnage shot up nearly 56 percent in May, with 93,495 pier tons handled, while volume at the Port of Georgetown climbed 2.5 percent, or 43,139 pier tons for the month.

In the 2013 fiscal year to date (from July 2012 to May 2013), TEU volume in the Port of Charleston was up 9.4 percent from the previous year while pier tons of non-containerized cargo in Charleston and Georgetown climbed 18.4 percent.

Charleston, SC - With a $23-million improvement project at its Columbus Street Terminal completed, the South Carolina Ports Authority (SCPA) is enjoying a surge in non-container cargo at the Port of Charleston.

The first major phase of the project to improve the storage yard and enhance rail infrastructure was finished in March. In those seven months, Columbus Street Terminal's non-container cargo totaled 362,952 tons, a six-fold increase from 52,781 tons last year. The facility's vehicle count for the seven-month period totaled 112,161 autos, compared to 58,856 in the port during the same period in 2010.

"Columbus Street Terminal has obviously become a critical asset for cargo operations," said Jim Newsome, president and CEO of the SCPA. "With great facilities, excellent oversize rail clearances and skilled labor, Columbus Street Terminal is one of the premier ro-ro, breakbulk and heavy lift terminals on the U.S. East Coast."

Driven largely by the growth at Columbus Street, total breakbulk tonnage in the Port of Charleston is up nearly 80 percent in the first quarter of the fiscal year, which began July 1. The SCPA handled 234,232 pier tons of breakbulk and bulk cargo at its terminals in Charleston from July to September, up from 130,226 tons in the same period in 2010.

Calendar year-to-date, breakbulk tonnage is up 39 percent, with 609,674 tons handled in 2011 and 438,344 tons in 2010.

"Growth in the non-container segment is good for waterfront jobs, and it also provides a valuable service to major South Carolina employers and industries," said Newsome, referring to the BMW exports and power generation shipments that are large users of Columbus Street Terminal.

Charleston's container business also increased in September, totaling 125,032 20-foot equivalent units (TEUs), up 8.9 percent from August and up 17.6 percent from the same month last year. Container volume for the quarter (July through September) totaled 353,368 TEUs, the strongest quarter for the Port of Charleston since Q4 2008.

"These numbers are welcome news for our state and our maritime community," said Newsome. "Exports are driving growth and there are good signs out there for outbound growth, yet it's still a little unclear how far and fast the economy will go in the near-term."

The Port of Georgetown's business grew five fold during the month of September over 2010, while tonnage for the fiscal year is up 379 percent. Georgetown volume totaled 43,419 tons in September and 112,701 tons in the first three months of the fiscal year, up from 8,596 tons in September 2010 and 23,537 pier tons in FY11.

Charleston, SC - The South Carolina State Ports Authority (SCSPA) Board today approved its fiscal year 2012 budget, which projects a 6.6 percent increase in container volume and nearly $82 million in capital projects for the year.

In the fiscal year beginning July 1, the SCSPA plans to invest $81.7 million in capital projects. The largest areas of planned spending are terminal infrastructure improvements and Charleston's new cruise terminal. Also included is nearly $17 million related to the new terminal operating system, which consolidates all current information systems at the SCSPA and will be implemented in 2012.

Also included in the FY2012 budget are projections on cargo volume, including a 6.6 percent increase in container volume and a 7.4 percent increase in breakbulk and non-containerized cargo at South Carolina's public seaports.

In the fiscal year to date (from July 2010 to May 2011), pier containers handled in the Port of Charleston were up 9.3 percent from the previous year while pier tons of non-containerized cargo in Charleston and Georgetown climbed 44.6 percent.

"We are investing in South Carolina's future to better serve businesses that create jobs," said Bill Stern, chairman of the SCSPA. "With harbor deepening in Charleston moving forward, these improvement projects will enhance our ability to handle the future growth of the port and our State."

In other business, the SCSPA Board approved $6.5 million in other projects: a $2.09-million contract to Landmark Construction Co. of North Charleston for security improvements at North Charleston Terminal and $4.4 million related to crane relocation and realignment.

Since consolidating container operations at two terminals earlier this year, the SCSPA will relocate two super post-Panamax cranes from Columbus Street Terminal to the Wando Welch Terminal, reposition cranes along the Wando dock and remove one obsolete crane. The crane relocation involves three contracts for electrical work, structural work, as well as the transportation of the cranes.

The crane realignment positions the SCSPA's largest crane assets in locations ideal for working the big ships calling Charleston today and prepares the port for the surge in big-ship traffic following the Panama Canal expansion in 2014. This week, the SCSPA and the U.S. Army Corps of Engineers signed a cost-sharing agreement for the post-45 foot harbor deepening 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 $50 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, SC - The South Carolina State Ports Authority (SCSPA) Board approved its budget for the coming fiscal year, including more than $77 million in terminal upgrades and projections for a seven percent increase in container volume.

In the year starting July 1, the SCSPA plans to invest $77 million in terminal improvements, equipment upgrades and new information systems. The largest area of spending is at existing facilities, totaling $35 million. More than $16 million is slated for construction of the new 286-acre container terminal at the former Navy Base.

These investments strengthen South Carolina's ability to serve our clients' growth, which will be driven by the deepest channels in the Southeast and this state's pro-business climate, said Bill Stern, chairman of the SCSPA board.

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

Charleston's May container volume climbed more than 22 percent year-over-year with 68,238 pier containers handled and was even with the previous month. That followed four consecutive months of year-over-year growth.

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

South Carolina's ports are attracting business back at an increasing pace, said Stern. While we still have some work to return the business levels of a few years ago, the meter has been moving in the right direction.

Beyond the projected seven percent increase in container volume in fiscal 2011, non-container and breakbulk cargo handled at South Carolina's public port facilities in Charleston and Georgetown are expected to climb 53 percent.

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 nearly $45 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 $44.8 billion in economic activity each year. For more information, visit www.scspa.com.