SCPA Growth Continues in 2015
- Business & Finance
The South Carolina Ports Authority (SCPA) has just announced a 14 percent container volume growth during 2015 fiscal year, with breakbulk tonnage exceeding plans by 6 percent and record rail moves at the Inland Port.
“2015 was a memorable year for SC Ports Authority,” said SCPA president and CEO Jim Newsome. “We reached near-record levels of containerized cargo and saw strong volume and good diversification of the breakbulk sector. From an operations perspective, highlights of this year include handling the highest ever month of pier containers in May and Inland Port rail moves in June, all while delivering high reliability and logistics efficiencies for our customers.”
Strong fundamentals played a key role in the above-market growth of SCPA’s containerized cargo segment. Amidst progress of the Panama Canal expansion and the Bayonne Bridge raising, big ships have transitioned to East Coast trade routes, and SCPA currently receives 11 post-Panamax vessel calls each week.
According to the SCPA, in the fiscal year ahead, the company expects to continue to grow above the US port market average and focus on increasing revenues to fund its capital projects, including the construction of the Navy Base container terminal by the end of the decade.
FY2016 will also be a significant year for deepening the Charleston Harbor to 52 feet, with the Chief’s Report expected in September while the Pre-construction Engineering and Design phase is ongoing, followed by construction.