SCPA posts $140.5 million in operating revenues for FY13

  • SCPA report 7% rise in operating revenues

  • July containers and breakbulk tonnage up

The South Carolina Ports Authority (SCPA) has reported operating revenues of US$140.49 million during fiscal year 2013, seven percent ahead of the previous fiscal year’s $130.95 million.

Operating expenses of $127.77 million for FY2013 meant that the SCPA’s operating earnings during the twelve-month period stood at $12.72 million, a net gain of $5.45 million over the previous year.

“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 president and CEO of the SCPA, Jim Newsome.

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.

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.

The SCPA, via a statement on its website, also reported yet another rise in monthly cargo volumes at its ports for July.

The Port of Charleston handled 136,159 TEU at its two container terminals last month, the strongest July since 2008. This represents a more than three percent gain over the same month last year and a 20 percent increase from July 2011.

Non-containerized cargo across the SCPA’s facilities in Charleston and Georgetown also rose in July. In the Port of Charleston, the SCPA handled 51,375 tonnes of breakbulk cargo, a near four percent gain over the same month last year, while in Georgetown, the SCPA handled 59,731 pier tonnes in non-containerized cargo, up 70 percent over July 2012.

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