South Carolina Ports Authority said in its latest release that their long-term planning for infrastructure and business has prepared the port to thrive for years to come as it pushes through current economic challenges.
“We are in the final year of a six-year capital improvement plan,” S.C. Ports Authority President and CEO Jim Newsome said. “We are preparing for our major infrastructure projects to come online in 2021, while also continuing to ensure that our port works incredibly well. We have the best team in place to execute our goals.”
SCPA’s Board of Directors unanimously adopted a fiscal year 2021 financial plan during the June board meeting earlier this week.
The plan projects that S.C. Ports will handle more than 1.24 million pier containers from July 1 through June 30, 2021. The financial plan includes $264.2 million in operating revenues, which is estimated to generate $81.4 million in operating cash flow.
“The financial plan for fiscal year 2021 reflects a very thoughtful approach to the current economic climate, while also focusing on key growth areas and a very exciting year ahead,” SCPA Board Chairman Bill Stern added.
Construction of the impressive Leatherman Terminal is progressing well for its March 2021 opening.
Phase One will have a 1,400-foot-wharf, five ship-to-shore cranes with 169 feet of lift height, 25 hybrid rubber-tiered gantry cranes, and the ability to handle 19,000-TEU vessels. The Leatherman Terminal and the upgraded Wando Welch Terminal will enable S.C. Ports to handle four 14,000-TEU vessels simultaneously.
The Charleston Harbor Deepening Project will also achieve a 52-foot depth in 2021, further enabling mega container ships to access port terminals, said SCPA.