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

Charleston Harbor Deepening Project Earns Key Federal Funding for Preconstruction Engineering and Design

CHARLESTON, SC - Today SC Ports Authority announced $1.303 million in federal funding for the Post-45 Harbor Deepening project, allowing the Preconstruction Engineering and Design (PED) Phase of the 52-foot deepening effort to begin. The announcement follows last week's US Army Corps of Engineers Civil Works Review Board (CWRB) approval to release the project's Final Integrated Feasibility Report and Environmental Impact Statement for final review, another critical step of federal approval for the SC Port Authority to provide the deepest harbor on the East Coast.

"The allocation of federal funding for the PED phase of our deepening project is tremendous," said SCPA Board Chairman Bill Stern. "We are grateful to the leadership of state and federal elected officials and the Obama Administration for their united support of Charleston's harbor deepening. The merit of our project and the significant benefits it will deliver for our state and nation are signified by the efforts of elected officials on all levels to ensure it progresses without delay."

Total PED costs for Charleston's deepening project are estimated at $4.5 million, divided equally between federal and state government. With the full estimated state share of the design and construction costs set aside by the South Carolina General Assembly in 2012, the PED phase is 80 percent funded even before issuance of the project's Chief's Report.

The PED funding provides for the execution of a design agreement with the Corps of Engineers, allowing work to proceed in order to finalize the project design and produce contract documents. PED is the final major step in the deepening process before construction begins. Additional work completed during this phase includes ship simulation studies, refinement of cost estimates, coastal monitoring and analysis of beneficial use of dredged material.

Concurrent with preparations for the design agreement is a 30-day review period of the final report for state and resource agencies that begins July 10. The Chief's Report, issued by the US Army Corps of Engineers, is expected to be finalized by September and transmitted to Congress for authorization later this year.

"The container shipping industry's deployment of big ships is evident, and there is no question that the Southeast needs a harbor deeper than 50 feet to accommodate fully-loaded post-Panamax container ships," said SCPA president and CEO Jim Newsome. "SCPA will soon be able to handle these vessels without tidal restriction, ensuring we can support growing volume needs. The US Army Corps of Engineers' timely response to this dominant industry need is admirable, and we look forward to the completion of PED followed by significant progress on construction by the end of the decade."

The Post-45 Deepening Project began in 2011 and has moved expeditiously through the US Army Corps of Engineers' accelerated planning process. Upon completion of the 52 foot deepening, Charleston will offer the deepest harbor on the East Coast with unrestricted capability to handle post-Panamax vessel calls.

About SC Ports Authority

The South Carolina Ports Authority, established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 jobs across South Carolina and nearly $45 billion in economic activity each year. For more information, visit www.scspa.com.

Charleston Harbor Deepening Project Earns Critical Federal Approval

CHARLESTON, SC - Today in Washington, DC, the US Army Corps of Engineers Civil Works Review Board (CWRB) unanimously approved the Final Integrated Feasibility Report and Environmental Impact Statement for the Charleston Post-45 Harbor Deepening project, a significant step in the federal process that ensures the project is on schedule to receive its Chief's Report this September.

"Today's approval by the Civil Works Review Board allows our harbor deepening project to progress without delay," said Jim Newsome, SCPA president and CEO. "Once deepening to 52 feet is realized, Charleston will offer the deepest harbor on the East Coast with the capability to serve fully-loaded post-Panamax vessels 24 hours a day. Our deepening project, coupled with significant SCPA investments landside infrastructure and terminal capacity, support SCPA cargo volume growth more than twice the national port average. We are fortunate to have great partners in US Army Corps of Engineers, whose collective expertise and commitment was demonstrated today."

The final report has been approved for release for a 30-day review period for state and resource agencies. The Chief's Report is expected to be signed in September and then transmitted to Congress, with construction to begin following the Preconstruction, Engineering and Design Phase.

"A competitive, growing port brings tremendous economic benefits to our state and our region," said SCPA Board Chairman Bill Stern. "Recognizing the importance of the deepening project to our port, elected officials from all levels of government as well as the business community and the public are united in their support of 52 feet. South Carolina, the Southeastern region and our nation will enjoy the positive impacts of the Charleston harbor deepening for years to come."

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. The expansion of the Panama Canal and the raising of the Bayonne Bridge in NJ are expected to significantly increase the size of cargo vessels deployed to East Coast ports, making deepwater a requirement for modern ports. In addition, growth of population and manufacturing in the Southeast has been a significant driver of volume gains and the need for a deeper harbor. Charleston currently receives 11 post-Panamax vessel calls weekly.

In 2013, 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.

About SC Ports Authority

The South Carolina Ports Authority, established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 jobs across South Carolina and nearly $45 billion in economic activity each year. For more information, visit www.scspa.com.

Administration Continues Support of SC Ports Strategic Initiatives in Budget

Charleston, SC - Today's release of the President's FY 2016 budget contained approximately $20 million for strategic South Carolina port projects including critical operations and maintenance dollars and construction dollars that support Charleston's vital shipping channels. These recommendations exceed last year's totals by $5 million.

"This budget highlights the valuable role South Carolina plays in the global marketplace, and we continue to be deeply appreciative of the commitment the Administration, the Office of Management and Budget and the Corps of Engineers has given to the expeditious approval of our 52-Ft. Charleston Harbor Deepening Project," said Bill Stern, SCPA Board Chairman.

The Administration recommended $17 million in Operations and Maintenance Funds as well as $2.9 million in Construction dollars. Feasibility dollars were not required in this Budget as the project has sufficient funding to complete the final report and approvals before the end of fiscal year 2015.

"The Port, our Congressional Delegation, Governor, General Assembly, Mayor Riley and countless others frequently interact with the Administration about our project to ensure it remains ahead of schedule," said SCPA President and CEO Jim Newsome. "As the Corps completes the Chief's Report and moves into the Design Phase, we remain confident that the necessary federal funding to match the already committed $300 million in state funds will be provided to begin construction on what will be the deepest channels on the East Coast."

The President's harbor funding recommendations will now be considered by the full Congress.

Charleston currently offers the deepest harbor in the region and can handle ships drafting up to 48-feet of water on high tide. Deepening Charleston Harbor to 52-feet removes the tidal restrictions and opens our port to the larger neo-Panamax container ships 24 hours a day. Currently, Charleston hosts eleven weekly neo-Panamax ship calls.

About the South Carolina Ports Authority
The South Carolina Ports Authority, established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 jobs across South Carolina and nearly $45 billion in economic activity each year. For more information, visit www.scspa.com.

SCPA and Environmental Groups Announce Milestone Agreement for Harbor Deepening

Charleston – Today SC Ports Authority, Lowcountry Open Land Trust, Coastal Conservation League and the Southern Environmental Law Center announced a milestone agreement for the Post-45 Harbor Deepening Project that includes a significant Port contribution to land conservation efforts along the Cooper River Corridor.

SC Ports Authority (SCPA) is partnering with Lowcountry Open Land Trust (LOLT), Coastal Conservation League (CCL) and the Southern Environmental Law Center (SELC) to form a new collaboration that invests in the conservation of the Cooper River Corridor and ensures the timely progress forward of harbor deepening. Pending final approval by the Joint Bond Review Committee later this month, this regionally significant conservation commitment represents a substantial increase in resources available to protect wildlife, water quality and overall land conservation in the area.

"Deepening the Charleston Harbor to 52-feet will have a lasting impact on the competitiveness and economic development efforts of South Carolina, and likewise the conservation commitment announced today carries permanent significance to our region and state," said Jim Newsome, SCPA president and CEO. "Our collaboration with LOLT, CCL and SELC is a testament to the merit of the deepening project and the Port's ongoing commitment to responsible environmental operations."

"The Harbor deepening collaborative epitomizes the power of cooperation," said Elizabeth Hagood, Executive Director of Lowcountry Open Land Trust. "It is a visionary solution that benefits South Carolina both economically and environmentally. It proves that economic growth and conservation of our natural resources go hand-in-hand, and are not mutually exclusive. We hope that this collaboration becomes the model for sustainable economic growth in South Carolina. Today, the Port joins Boeing as a leader in creative, environmentally oriented economic solutions."

"The Harbor deepening project has broad and long-term implications for South Carolina's economy and environment," said Dana Beach, Executive Director of the Coastal Conservation League. "Our goal has been to support the positive aspects of the project while preventing the degradation of two of South Carolina's greatest assets – Charleston Harbor and the Cooper River. Perhaps the single most important step we can take to secure their health is to protect the watershed of the Cooper River. In addition to the specific benefits for water quality, this conservation proposal also protects a historic and recreational landscape, which is as important for economic progress as it is to our exceptional quality of life. We appreciate the State Ports Authority's willingness to work toward a creative and enduring outcome."

"Harbor deepenings are major construction projects that have impacts to the environment, including wetlands, estuaries, and other important habitats," said Chris DeScherer, a managing attorney of SELC's Charleston office. "We are pleased to collaborate with the Ports Authority and our partners to find meaningful conservation measures that meet industry shipping needs while also conserving critically important wetlands and uplands in the Cooper River Corridor."

In addition to the land preservation commitment, the SCPA also announced a $125,000 award to the SC Aquarium for the sea turtle public education program and rehabilitation of sea turtles in Charleston Harbor.

The federal harbor deepening project was launched in 2011 to expand the Port of Charleston's ability to handle the post-Panamax vessels dominating the ocean carrier industry. The expansion of the Panama Canal and growth of population and manufacturing in the Southeast are expected to increase the frequency of post-Panamax vessels on the East Coast, requiring ports to invest in infrastructure to be competitive.

In October 2014 the US Army Corps of Engineers released the Draft Integrated Feasibility Report and Environmental Impact Statement for the Post-45 Harbor Deepening project, recommending that the Charleston Harbor be deepened to 52 feet. The report outlined the project's significant benefits to the nation, the potential environmental impacts and a description of possible mitigation measures for those impacts. In conservation partnership with LOLT, CCL, and SELC, the SCPA has committed to additional voluntary measures, that protect and enhance natural resources in and around the Cooper, Wando and Ashley rivers.

Construction on the deepening project will begin following the issuance of the Chief's Report, anticipated in September 2015, and the Preconstruction Engineering and Design Phase.

About the South Carolina Ports Authority
The South Carolina Ports Authority, established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 jobs across South Carolina and nearly $45 billion in economic activity each year. For more information, visit www.scspa.comopens in a new window.

About the Lowcountry Open Land Trust
The Lowcountry Open Land Trust is a local, 501?(3) land conservation organization whose mission is to honor the relationship between people and land by protecting irreplaceable Lowcountry lands by working in partnership with other conservation and community organizations.

About the Coastal Conservation League
CCL is a nonprofit advocacy organization dedicated to protecting the coastal resources of South Carolina, with a mission to protect the natural landscapes, abundant wildlife, clean water, and traditional communities by working with citizens, local governments and the state legislature.

About Southern Environmental Law Center
The Southern Environmental Law Center is a regional nonprofit using the power of the law to protect the health and environment of the Southeast (Virginia, Tennessee, North and South Carolina, Georgia, and Alabama). Founded in 1986, SELC's team of nearly 60 legal and policy experts represent more than 100 partner groups on issues of climate change and energy, air and water quality, forests, the coast and wetlands, transportation, and land use. www.SouthernEnvironment.org

Container Volume Up 13 Percent at SC Ports Authority

Charleston - Today SC Ports Authority announced another month of double-digit container growth, with fiscal year-to-date volumes up 13 percent year over year.

The Port handled 144,218 twenty-foot equivalent units (TEUs) in November, an increase of 8 percent over the same month last year. Fiscal year to date TEU volumes are 11 percent ahead of plan, with 777,566 TEUs handled since July.

As measured in pier containers, SCPA handled 82,466 boxes last month, an increase of 10 percent over November 2013 volumes. Fiscal year to date, pier container volume is up 14 percent year over year.

Non-containerized cargo volumes also saw strong gains in November. Charleston handled 61,114 pier tons last month, bringing fiscal year-to-date tonnage totals ahead of plan by nearly 5 percent. Georgetown handled 48,917 tons in November, pushing tonnage nearly 29 percent higher than fiscal year plans.

The Inland Port handled 3,972 rail moves in November. With 21,686 lifts completed fiscal year to date, the facility is 47 percent ahead of plan.

"As measured year over year, our monthly pier container volume has seen nine consecutive months of double-digit growth," said SCPA president and CEO Jim Newsome. "This broad-based growth reflects strength of both imports and exports, although we will likely see volumes settle over the next few months."

In action items, the Board approved $1.56 million in wharf repairs and improvements to the North Charleston Terminal in preparation for the transfer of three Morris cranes from the Wando Welch Terminal. The Board also authorized an $189,000 project to expand the perimeter security system at Columbus Street Terminal and passed a resolution to secure foreign trade zone status on three sites in York and Chester counties.

Newsome noted two awards the SCPA received from the Journal of Commerce at last week's Port Performance North America Conference. The Port of Charleston and North Charleston Terminal were recognized for berth productivity for the first half of 2014.

Passed by Congress earlier this week and signed by the President yesterday, the 2015 fiscal year appropriations bill delivers a positive step forward for the Post-45 Harbor Deepening Project and other key SCPA initiatives.

The bill includes $695,000 for the U.S. Army Corps of Engineers to complete the Feasibility Study phase and its investigation, as well as a $1.2 million construction allocation that supports the 52-foot project moving forward without delay upon receipt of the Chief's Report, expected in September 2015. The bill also includes $13.1 million for ongoing Charleston Harbor operations and maintenance.

"The Omnibus appropriations to SC Ports Authority projects are significant, particularly the support of our harbor deepening project, which is our top strategic priority," said Bill Stern, SCPA Board Chairman. "We are grateful for the commitment to ports demonstrated on the federal level, and our state's economy and economic development efforts are strengthened by our competitive port system."

In addition to its allocations for Charleston, the bill contains language pertaining to emerging harbors that could provide opportunities for the Port of Georgetown to compete for maintenance funding to restore its harbor depth.

About the South Carolina Ports Authority
The South Carolina Ports Authority, established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 jobs across South Carolina and nearly $45 billion in economic activity each year. For more information, visit www.scspa.com.

SC Ports Authority Container Volume Up 13 Percent

Charleston - Today SC Ports Authority announced 13 percent year-over-year increases in container volume through the first quarter of the 2015 fiscal year.

SCPA handled 150,790 twenty-foot equivalent units (TEUs) in September, up 13.4 percent over the same month in 2013. Container volumes are 10.3 percent ahead of plan for the fiscal year, which began in July. From a calendar year perspective, TEUs are up 11.5 percent over 2013 levels.

Charleston breakbulk cargo volumes were also strong in September, with 65,214 pier tons handled during the month. Non-containerized cargo volumes remain on plan, and 199,319 tons have been moved fiscal year to date. Georgetown pier tons continued to climb through September, for a fiscal year to date gain of 38.7 percent over plan.

"SCPA experienced fairly significant growth during the first quarter, and above-plan volumes are reflected in our strong financial performance for the period," said SCPA president and CEO Jim Newsome. "We're seeing growth in the automotive sector as manufacturers add new lines and exports continue to rise."

Newsome discussed the Draft Integrated Feasibility Report and Environmental Impact Statement issued last week by the US Army Corps of Engineers (USACE), noting the significance of this step in the harbor deepening process. The report recommended the Charleston harbor be deepened to 52 feet, allowing the Port of Charleston to become the deepest port in the Southeast.

"Achieving this depth is critical for the SCPA, given the increasing size of vessels calling our terminals today," Newsome said. "The boom in manufacturing across the Southeast is also driving the need for our port to provide deep water for vessels fully-loaded with heavy manufacturing exports.&quot.

USACE and SC Department of Health and Environmental Control are accepting public comment on the report through November 24, 2014. Information about the project and a link to USACE's online comment form are available on the port's home page, www.scspa.com.

In other business, the Board authorized a contract for BergerABAM to complete a design review of the engineering plans for the Wando Welch Terminal wharf improvement project. Work on the project is scheduled to begin late spring 2015 and last approximately two and a half years.

About the South Carolina Ports Authority
The South Carolina Ports Authority, established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 jobs across South Carolina and nearly $45 billion in economic activity each year. For more information, visit www.scspa.com.

Charleston Harbor Deepening Project Reaches Key Milestone

"The Port of Charleston's ability to handle post-Panamax vessels 24 hours a day without tidal restriction is critical to the future competitiveness of our state port system," said Jim Newsome, SCPA president and CEO. "Completion of our harbor deepening project to 52 feet ensures that SCPA will continue to grow above the market average and remain a top ten port, facilitating trade and economic development for our entire state, region and nation. We would like to recognize the expertise and professionalism of the US Army Corps of Engineers as our partner on this project, and we look forward to working together through the completion of harbor deepening."

Launched in 2011, the federal deepening project will expand the Port of Charleston's ability to handle the post-Panamax vessels dominating the ocean carrier industry. Following the opening of the Panama Canal expansion and raising of the Bayonne Bridge in New Jersey, post-Panamax vessels are expected to call the East Coast more frequently, requiring ports to invest in infrastructure and deepening projects to be competitive. Charleston currently receives seven post-Panamax vessel calls weekly and handles ships of this size with tidal restrictions.

Growth of commerce in the Southeast region also requires a deeper harbor. US container trade is expected to be export dominant by 2020, and export containers typically weigh three tons more than import boxes. The strong manufacturing presence in South Carolina and throughout the Southeast drives increased exports and the need for harbor depth to accommodate fully-loaded post-Panamax vessels.

"Deepening the Charleston Harbor is a project that has garnered united political support at all levels of government," said Bill Stern, SCPA Board Chairman. "We are fortunate for the leadership and vision of our General Assembly, who previously set aside the state share of construction costs. Our Congressional delegation members are among the strongest advocates for our project and the importance of our state's port system."

The SC General Assembly set aside the full estimated state share of the deepening construction costs in 2013, and the project was named was named one of President Obama's "We Can't Wait" initiatives. Construction will begin following the issuance of the Chief's Report in September 2015 and the Preconstruction Engineering and Design Phase, during which additional cost saving opportunities on the project may be identified.

The report released today outlines the project's significant benefits to the nation and illustrates that the project can easily be constructed in an environmentally-responsible manner. For more information about harbor deepening, visit the port's website at www.scspa.com.

The South Carolina Ports Authority, established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 jobs across South Carolina and nearly $45 billion in economic activity each year. For more information, visit www.scspa.com.

Growth, Modernization the Focus of Newsome's State of the Port

Charleston, S.C. - Today South Carolina Ports Authority president and CEO Jim Newsome focused on growth and modernization at the State of the Port, an annual event hosted by the Propeller Club of Charleston.

In his sixth address since joining the SCPA, Newsome discussed the port's strategy for maintaining the strong volume gains seen in recent years and the investments underway to prepare new and existing facilities for the changing needs of the shipping industry.

The SCPA boasted 8 percent volume increases in FY2014, with 9 percent growth the previous fiscal year. The Port of Charleston ranked ninth in the country for 2013 cargo volumes measured in twenty-foot equivalent units (TEUs), with growth trending above the market average year over year.

"Diversity of cargo across market segments, including container, breakbulk and cruise, contributed to our strong volume gains, Newsome said. "Over the next several years, the upgrades planned for existing SCPA terminals and new capacity offered by the Navy Base terminal will ensure our facilities are capable of attracting and retaining cargo in each of these key business areas, which are important to the port's long-term success."

Newsome said above-market growth will continue to be a key priority for the port. Main drivers of volume gains in recent years include expansion of discretionary cargo, including plastics and agriculture products; utilization of project cargo capabilities; recruitment of indigenous cargo, routed through Charleston for lowest inland transportation costs; and maximization of the port's intermodal rail capabilities and a deepwater harbor.

In addition to construction of the Navy Base new container terminal, Newsome cited long-range plans with Georgia Ports Authority to construct a terminal in Jasper County, given market demand and harbor depth. He also noted that in spite of the need to restore the Port of Georgetown to an authorized depth of 27 feet, its volumes grew nearly 12 percent in fiscal year 2014.

SCPA's projects and capital investments reflect the changing fundamentals in the shipping industry and necessity to accommodate the deployment of post-Panamax vessels to the East Coast.

"SCPA is well-positioned to meet and exceed the industry's requirements for a modern port," Newsome said. "With the harbor deepening project, Charleston will remain the deepest harbor in the Southeast and offer post-Panamax vessels the opportunity to call on our terminals without tidal restrictions by late 2018. The movement of cargo from our capable, productive facilities to its inland destination is increasingly cost-competitive with dual rail service and the Inland Port."

Newsome noted that while the Southeast is a growing region for both consumption and manufacturing, it is also a highly competitive market served by several ports. With overall market growth slower this decade than last, all ports are challenged by the significant investment required to construct and modernize facilities.

"SCPA's mission is to be the preferred port in the U.S. for our carrier and cargo clients," Newsome said. "Our aggressive plan ensures that we are well poised for the future in our industry and as an economic driver and catalyst for business development in South Carolina and across the Southeast. Our best years are ahead."

"The port's year-over-year volume growth speaks to the leadership and vision of Jim and his team," said SCPA Board Chairman Bill Stern. "There is no doubt that the future for our state port system is bright."

About the South Carolina Ports Authority
The South Carolina Ports Authority, established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 jobs across South Carolina and nearly $45 billion in economic activity each year. For more information, visit?www.scspa.com.

South Carolina Ports FY Earnings, Volumes Surpass Plans

Charleston, SC - Today South Carolina Ports Authority reported 2014 fiscal year-end operating earnings of $14.3 million, 20.7 percent over the organization's financial plan.

From July through June, the SCPA posted operating revenues of $164.1 million, an increase of nearly 17 percent over the previous fiscal year. FY2014 expenses totaled $149.9 million.

"With the Port's aggressive capital plan for the next several years, solid financial performance is essential," said SCPA Board Chairman Bill Stern. "The strong 2014 fiscal year revenues reported today reflect that the SCPA remains focused on the growth necessary for these important projects."

Last month the SCPA announced 8 percent container growth for the fiscal year, handling 1.7 million twenty-foot equivalent units (TEUs) for an increase of 2 percent over plan. These results follow 9 percent increases the previous fiscal year and continue the SCPA's growth trend of more than double the market average.

"The last quarter of the 2014 fiscal year was the strongest the SCPA has seen in seven years," said SCPA president and CEO Jim Newsome. "With an 8 percent container volume increase and operating cash flow well above plan, we are well-positioned to continue moving forward with key strategic projects and continued above-market growth."

The SCPA's rail drayage program saw expanded participation by all major shipping lines in FY2014, demonstrating Charleston's capabilities as a rail-competitive port. Rail dray volume increased 136 percent over the previous fiscal year.

FY2014 was also marked by 17 percent growth of the SCPA's refrigerated cargo segment. The Charleston area's cold storage capacity is also on the rise, with three cold storage companies recently announcing plans to construct or grow existing facilities to support expansion of this market.

Looking ahead, major initiatives for the SCPA this fiscal year include continued work on harbor deepening, with the draft Environmental Impact Statement scheduled to be released this fall; construction on the Wando Welch Terminal wharf refurbishment project to begin in April 2015; and efforts to restructure container contracts and refine capital planning.

Volumes first month of the new fiscal year were positive, with pier containers up nearly 14 percent over July 2013.

As measured in twenty-foot equivalent units (TEUs), July volumes exceeded plan by 11 percent. The SCPA handled 153,916 TEUs during the month, a 13 percent increase over 138,601 TEUs seen in July 2013. Calendar year to date TEU volume reached 1,026,372 last month, up 11 percent from the same period last year.

July breakbulk cargo volumes also saw increases over 2013 levels. Charleston moved 55,485 pier tons, an increase of 8 percent over last July, and monthly volumes were also up 19 percent in Georgetown, with 71,135 pier tons moved.

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