SCSPA’s interim president & CEO, John F. Hassell III noted that Charleston is well positioned for the expanded Panama Canal in 2014 and outlined noted several accomplishments over the past fiscal year including:
* Extending a contract with MSC for the Port of Charleston to 2017
* Bringing National Shipping Company of Saudi Arabia to Charleston with a new regular service for containers, breakbulk and roll-on/roll-off cargo
* Finalising a two-year contract extension with the Grand Alliance consortium
* Increasing refrigerated and container capacity at the Wando Welch Terminal
* Awarding a US$55m construction contract for new container terminal work
* Successfully implementing the new federal Transportation Worker Identification Credential (TWIC) for thousands of longshoremen, truckers and others working on the docks.
* Advancing environmental initiatives, including US$5.3m in diesel emissions reduction projects, an Environmental Management System and the first port air emissions inventory in the Southeast US.
Also during the past year, the search for a new president and chief executive officer concluded with the hiring of James I. (Jim) Newsome III who begins on September 1, 2009 after a more than 30-year shipping industry career, most recently as president of Hapag-Lloyd (America), Inc.
The SCSPA continued to post strong financial results, with an operating margin approaching 19%. Operating revenues were off 18% to US$136.2m, operating expenses were flat at U$111m and earnings decreased by 53% to US25.7m.