Thursday , 22 August 2019
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Despite a widespread decline in global shipping, in the fiscal year that ended June 30, the US South Carolina State Ports Authority (SCSPA) handled 1.37m teu at its Port of Charleston, down 19% from 1.69m teu in FY 2008. In addition SCSPA secured several new major business accounts and is primed to take advantage of the deepest harbour in the US.

South Carolina Ports Top 1.37m teu and adds new business

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.