South Carolina Ports Record Profitable 2013 Operations

MarineLink.com
Wednesday, August 21, 2013

On the heels of announcing its fiscal year 2013 volume results, 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 operating earnings of $12.72 million, which was a net gain of $5.45 million from the previous year.

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.

"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," said Jim Newsome, the SCPA's president and CEO.

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.

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 $63 billion annually while receiving no direct taxpayer subsidy.

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Apply Now for the MN 100

The August 2015 edition of Marine News, the leading voice in the North American workboat market, will feature 100 leaders and innovators, including workboat owners and operators,

Alfred Hartmann: New Captain on the Bridge at VDR

Shipping owner Alfred Hartmann is the new President of the Association of German Shipowners (VDR). For the first time a mid-size company owner is at the helm of the VDR,

VT Halter Powers Ahead

If you drive just south of I-10 in Pascagoula, Miss., within 10 minutes you find yourself on the doorstep of VT Halter Marine, arguably one of the more diverse and active shipyards in the U.

Ports

Kenya Eyes Inland Cargo Logistics Hub to Serve Nearby States

Kenya aims to build a cargo logistics hub near the border with Uganda to receive and clear goods through customs that arrive by air, rail or road, easing pressure

Port of Ngqura’s New Automated Mooring System

The automated mooring system at the Port of Ngqura in South Africa’s east coast is poised to improve port efficiency and safety, cementing the deep water port’s

General Mills Strategically placed in Port Salford

General Mills UK & Ireland – responsible for a range of market-leading brands, including Old El Paso, Green Giant, Betty Crocker and Nature Valley – is to be

Finance

Oil Price Shock Soon to be Positive Overall for Canada

Canada's economy will start to show more positive effects from the drop in oil prices than negatives from the second quarter onwards, Bank of Canada Governor Stephen Poloz said on Friday.

Total Eyes Sale of its Fuel Retailing Business in Turkey

Total aims to exit its fuel distribution business in Turkey and has asked Societe Generale to lead the sale, sources said on Friday, as the French oil producer

MISC Says AET Tankers Unit Not for Sale

MISC Berhad issued a statement today addressing recent market speculation that the company is set to sell its wholly owned petroleum tanker subsidiary AET Tankers.

Container Ships

VT Halter Powers Ahead

If you drive just south of I-10 in Pascagoula, Miss., within 10 minutes you find yourself on the doorstep of VT Halter Marine, arguably one of the more diverse and active shipyards in the U.

Horizon's Hawaii Business Acquisition Cleared by DOJ

Horizon Lines, Inc. reported yesterday that, after a review by the Antitrust Division of the Department of Justice, Horizon's proposed sales transaction with The

SDARI Inks Agreement for INTERSCHALT Loading Software

INTERSCHALT maritime systems AG, a maritime software and services provider of loading computers on board containerships, signed a cooperation agreement with the

Logistics

Kenya Eyes Inland Cargo Logistics Hub to Serve Nearby States

Kenya aims to build a cargo logistics hub near the border with Uganda to receive and clear goods through customs that arrive by air, rail or road, easing pressure

Baltic Index Inches Up on Increased Rates for Bigger Vessels

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Friday on increased rates for bigger vessels.

Horizon's Hawaii Business Acquisition Cleared by DOJ

Horizon Lines, Inc. reported yesterday that, after a review by the Antitrust Division of the Department of Justice, Horizon's proposed sales transaction with The

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1449 sec (7 req/sec)