Ports Authority embarks on the largest capex project in its history.
South Carolina Ports Authority (SCPA) finished its fiscal 2018 year on a high note, logging record container volumes for the month in June, according to the latest data from the port authority.
Terminals operated by SCPA handled 201,163 TEUs for the month, a 10 percent increase from June 2017 and a new high-water mark for monthly throughput.
The June figures followed a May in which volumes surged 8.2 percent year-over-year to 197,437 TEUs, a record for the month of May and, at the time, the second-highest month of container traffic in SCPA’s history.
Strong volume growth over the last few months helped boost SCPA’s total volumes 3 percent to a record 2.2 million TEUs for the fiscal 2018 year, which ran from July 2017 to June 2018.
SCPA in June officially adopted a fiscal 2019 financial plan that includes $277.6 million in capital expenditures, the largest capex plan in the port’s history.
A large chunk of that money will go toward upgrading the Port of Charleston’s Hugh K. Leatherman Terminal, where it will invest $117.1 million for construction, equipment and the port’s share of an access road linking the terminal with Interstate 26.
“June container volumes were exceptional, marking the first time our port has handled more than 200,000 TEUs in a single month,” said SCPA President and CEO Jim Newsome. “We achieved the three highest months of container volume in the port’s history in March, May and June.
“As compared to FY2010, SCPA has grown by over 900,000 TEUs for a compound annual growth rate of 7 percent,” he added. “Such growth is a significant accomplishment that reflects a broad expansion of the port’s cargo base, the commitment of our staff and the overall success of our maritime community.”
South Carolina cargo hits monthly high
