South Carolina Ports Authority Generates $6.3 Billion Impact on Lowcountry Economy, $53 Billion Statewide - SC Ports Authority (2024)

CHARLESTON, SC - SEPTEMBER 14, 2015 - South Carolina Ports Authority (SCPA) generates $6.3 billion in annual economic activity in the Lowcountry region and $53 billion statewide, according to the results of a study released today highlighting SCPA's role as an economic driver and key competitive advantage for South Carolina.

"The Port is our state's most strategic asset," said Jim Newsome, SCPA president and CEO. "It enables South Carolina to recruit and serve the needs of companies with international supply chains, and in doing so, spurs economic development opportunities and generates well-paying jobs for people across the state. As SCPA continues to grow our volumes and modernize our facilities, there is no question that our competitiveness will deliver significant benefits to our stakeholders, the people of South Carolina. Here in the Lowcountry, the Port is an important part of our history and will be a driving force in our economy well into the future."

The Lowcountry region, home to the Port of Charleston, has the largest SCPA footprint within the state with five operational terminals and one container terminal under construction. The study identified the following impacts of port operations on Beaufort, Colleton, Hampton, Jasper, Berkeley, Charleston and Dorchester counties:

• Approximately 11.9 percent of the total statewide economic impact attributed to SCPA benefits the Lowcountry.
• SCPA is responsible for nearly 23,000 jobs in the region.
• More than $1.2 billion in labor income from SCPA operations is infused into the Lowcountry economy annually.

The study was completed by Joseph Von Nessen, a research economist in the University of South Carolina's Darla Moore School of Business. The results represent the total economic impact associated with port operations and port users during the 2014 calendar year. The impact of port operations derives from business activities at SCPA facilities in Charleston, Georgetown and Greer. The impact of the port users comprises all business activities among South Carolina firms that require a port facility to be completed.

"Port expansion is vital to the continued growth of South Carolina's economy in the coming years, and SCPA's strategic priorities ensure that our port system is prepared for the future," said Bill Stern, SCPA Board Chairman. "By the end of the decade we will achieve the deepest harbor on the East Coast, open a new container terminal on the former Charleston Navy Base and modernize our existing facilities. We are well-positioned to achieve strong volume growth that will benefit not only our port, but the entire state."

"For industry to succeed, an efficient and effective way to transport goods and services is crucial," said Secretary of Commerce Bobby Hitt. "Thanks to a robust infrastructure system - featuring the nation's most productive Port - South Carolina offers exceptional global connectivity, providing our businesses with access to marketplaces in all corners of the globe. From the tremendous success of our Inland Port to the continued growth and expansion of the Port of Charleston, I congratulate SCPA on its tremendous leadership, filling a critical role in the effort to keep our state moving forward."

The study concluded the following benefits of SCPA from a statewide impact perspective:

• 1 in every 11 jobs in South Carolina can be attributed directly or indirectly to SCPA. This corresponds to $10.2 billion in labor income that would not exist without the presence of SCPA.
• On average, jobs directly or indirectly supported by the Port pay nearly 40 percent higher than the state's average annual salary.
• The $53 billion in annual economic output supported by SCPA represents nearly 10 percent of South Carolina's total annual gross state product.
• Port operations produce more than $912 million in tax revenue annually for the state.

"Although the Port's $53 billion economic impact is significant on its own terms, the Port's presence in South Carolina also has broader implications for long-run economic development in the state," said Von Nessen. "The key competitive advantage of the Port comes about through its ability to facilitate the ongoing development of export-oriented industry clusters, particularly in advanced manufacturing. As these industry clusters expand, they will build a strong, stable foundation for the state's economy that will generate higher and more consistent rates of economic growth across the state over time, which will benefit all South Carolinians."

USC was selected to complete the study through a partnership between SCPA and the South Carolina Applied Research Center for Supply Chain and Logistics (ARC). ARC was established by the South Carolina Department of Commerce in conjunction with the South Carolina Research Authority to focus on supply chain and logistics applied research services in collaboration with businesses and state academic institutions.

"We are excited to have this economic impact study for SCPA as our initial project for the newly established center," said Peter Straub, ARC Executive Director. "This study not only highlights the great impact of the SCPA on the state of South Carolina, it also identifies the strength of the business growth in South Carolina. The study exemplifies the role of SCPA as the primary catalyst in the supply chain and logistics process for the businesses in the Palmetto State."

SCPA officials will travel across the state from October through December for announcements of regional-specific data included in the study beyond the Lowcountry, including the Pee Dee, Midlands and Upstate.

View the Lowcountry and statewide economic impact information here.

About South Carolina Ports Authority

South Carolina Ports Authority (SPCA), established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, Port operations facilitate 187,200 statewide jobs and generate nearly $53 billion annual economic activity. Home to the Southeast's deepest port, SCPA is the industry leader in delivering speed-to-market, seamless processes and flexibility to ensure reliable operations, big ship handling, efficient market reach and environmental responsibility. For more information on SCPA, please visit https://scspa.com/

CHARLESTON, SC - SEPTEMBER 14, 2015 - Sustaining above-market container volume growth, achieving the deepest harbor on the East Coast, investing in infrastructure and expanding its cargo base topped the list of South Carolina Ports Authority (SCPA) five-year initiatives highlighted today at the State of the Port.

In his seventh address at the annual Propeller Club of Charleston event, president and CEO Jim Newsome reflected on the volume and revenue gains that well-position SCPA to face the challenges ahead for South Carolina's public port system.

"Within the state, we are an economic driver and strategic asset that should be a source of pride for our shareholders, the people of South Carolina," Newsome said. "From a competitive standpoint, we offer the best product at the lowest cost in the U.S. port industry. Our above-market growth is an achievement that has positioned the Port as a strong and visible global brand and will continue to pay dividends to the state and region?s economies."

SCPA reported a nearly 15 percent fiscal year-over-year increase in container volume in 2015, handling 1.9 million twenty-foot equivalent units (TEUs). Charleston breakbulk grew 7 percent over planned volumes, with 900,000 pier tons handled during FY2015. A record-breaking 253,338 vehicles moved across SCPA docks, up 15 percent from the previous record of 219,900 vehicles in FY2008.

Newsome highlighted SCPA?s significant financial growth over the last five fiscal years, including a 75 percent increase in revenue from $112 million in FY2010 to $196 million in FY2015. During that time, operating earnings jumped from $8.4 million to $30 million, and pier container volumes, or boxes handled, increased from 741,000 to 1.095 million.

Newsome said SCPA?s ability to build upon this success over the next five years will be decisive for the Port. Strong fundamentals within the Southeast region will support the Port?s aggressive goals, providing a growing consumer population base that creates demand for imports as well as an expanding manufacturing industry that requires deepwater for heavy export cargo. Included in SCPA?s long-range goals is the climb from top-ten to top-five U.S. container port volume ranking by the end of the decade.

Planned volume gains are also linked to Charleston?s compelling opportunity to serve big ships calling the East Coast. With alliances among the major shipping lines firmly in place and 90 percent of new ocean vessels to be built for 7,500 TEUs or greater, shippers will become increasingly dependent on ports to offer deep and wide harbors for reliable access. The expansion of the Panama Canal and raising of the Bayonne Bridge in New Jersey, both slated for completion next year, will also bring post-Panamax vessels to the Southeast in greater frequency.

SCPA's efforts to deepen the Charleston Harbor to 52 feet are on schedule, with a firm focus on expediting the Preconstruction Engineering and Design Phase of the project. Construction is expected to be completed by 2020, enabling Charleston Harbor to offer shippers 24-hour access to 48 feet of draft.

In addition to the completion of harbor deepening, SCPA will also focus on investments to terminal capacity and infrastructure, including construction progress on the Navy Base Terminal and Wando Welch Terminal wharf strengthening project. Newsome cited the State of South Carolina as a committed partner in the Port's long-term success, with planned investments in port-related infrastructure including harbor deepening, the Navy Base Terminal access road, and Intermodal Container Transfer Facility.

"Significant investment is required to be a major U.S. container port, and earning adequate return on capital will be a challenge for us in the years ahead," Newsome said. "In addition to maintaining above-market growth and delivering high value for the reliability and cost of service we offer, there are a number of actions required to realize these investments: an improved contractual structure and revenue model from port clients; firm prioritization of capital expenditures; and an inward focus on organizational streamlining, effectiveness and productivity."

Newsome cited a successful trucking community and support of both Class One rail carriers serving the Port as critical to SCPA's long-term ability to handle growing container volumes. SCPA extended gate hours in February and maintains low truck turn times to support productivity of the trucking industry, a key asset of freight movement. SCPA's efforts to grow rail volumes have been successful, with 22 percent of SCPA's container volume handled by intermodal rail in FY2015. Newsome pointed to improvement in intermodal infrastructure as essential to the Port's ability to attract cargo, as inland transportation costs play a key role in global supply chain decisions.

Expansion of the Port's cargo base will drive planned volume increases, Newsome said. In addition to the cargo that naturally flows through South Carolina's port facilities, SCPA will continue to pursue discretionary cargo, including Midwestern agriculture products and plastics from the Gulf. Private sector investment in port-related infrastructure is critical to serve these growing markets.

"In order to expand our cargo base, the Port must continue intensive efforts to connect the dots between major economic development opportunities, our capable harbor, and the necessary infrastructure to serve growing markets," Newsome said. "Our Inland Port in Greer is a great example of this. The facility saw tremendous success in its first full fiscal year of operation and will likely be expanded in FY2017, and I envision opportunities to consider additional inland port locations in the future."

Other long-term investments for the SCPA include progress on the Jasper Ocean Terminal (JOT), which represents the next major increment of Southeast container port capacity. Newsome pointed to the significant capital requirements necessary for the terminal to be realized, including deepening the Savannah River to at least 52 feet and providing adequate road and rail infrastructure with access for both Class One railroads. The JOT Joint Project Office is expected to begin the permitting process for the terminal later this fiscal year.

"The next five years bring great opportunity for our port," Newsome said. "By 2020 we will complete the harbor deepening project to 52 feet, open Phase One of the Navy Base Terminal and enjoy an operational dual-served intermodal container transfer facility. Delivering on our priorities and aggressive action will be required to meet these goals. The Port has a highly talented and skilled workforce, and with the commitment of our entire maritime community, I am confident that SCPA's best years are ahead."

View the State of the Port presentation here.

About South Carolina Ports Authority
South Carolina Ports Authority (SPCA), established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 187,200 statewide jobs and generate nearly $53 billion annual economic activity. Home to the Southeast's deepest port, SCPA is the industry leader in delivering speed-to-market, seamless processes and flexibility to ensure reliable operations, big ship handling, efficient market reach and environmental responsibility. For more information on South Carolina Ports, please visit www.scspa.com.

CHARLESTON, SC - September 14, 2015 - Today the 52-foot Charleston Harbor Deepening Project announced receipt of its Chief's Report from the U.S. Army Corps of Engineers, their final substantive approval required for the project to progress through construction.

The report by Lieutenant General Thomas Bostick, Commanding General of the U.S. Army Corps of Engineers, to the Secretary of the Army outlines the recommendation of deepening the Charleston Harbor channel to 52 feet and entrance channel to 54 feet, as well as enlarging turning basins to accommodate for post-Panamax vessels calling South Carolina Port Authority's (SCPA) container terminals. After review by the Secretary's office, the report moves to the Office of Management and Budget for review and then to Congress for review and authorization, expected early next year.

"Receipt of the Chief's Report is tremendous news for SCPA," said Jim Newsome, SCPA president and CEO. "By the end of the decade, we will achieve 52 feet of depth and Charleston will be the deepest harbor on the East Coast. This depth advantage will provide our customers with 24-hour access to deepwater, a requirement for significant long-term volume growth in today's big-ship environment. We are grateful for the expertise and leadership of our partners, the US Army Corps of Engineers, who deliver today's news just four years after we began the deepening process."

The Preconstruction Engineering and Design (PED) phase of Charleston Harbor Deepening received federal funding in July and will begin in earnest with the signing of a Design Agreement between the Corps and SCPA. This federal investment will allow the Corps of Engineers to proceed with work in order to finalize the project design and produce construction contract documents. PED is the final major step in the technical work for deepening before dredging begins.

"South Carolina, the Southeastern region and our nation will enjoy the positive impacts of the Charleston Harbor Deepening for years to come," said SCPA Board Chairman Bill Stern. "Today's announcement reflects the dedication and united support of state and federal elected officials and the Obama Administration. This project ensures SCPA remains a competitive, growing port well into the future."

Efforts to deepen the Charleston Harbor began in 2011 in order to provide the depth necessary to handle post-Panamax vessel calls without tidal restriction. In 2012, the SC General Assembly set aside the full estimated state share of the deepening construction costs, and the project was named was named one of President Obama's 'We Can't Wait' initiatives.

Quotes:

"This is fantastic news for the Charleston Port and our state's economy. Ensuring the Charleston Harbor deepening project remains on track has been and remains a top priority for me. We've come a long way in a very short amount of time. I'm proud of Jim Newsome, the Port leadership team and all the work we have done thus far, but I will not stop pushing until this project is completed. With this latest development, we'll now push Congress to provide us with the tools needed to finish the job. I realize that jobs, both today and in the future, are at stake with this project. Our economic future, and the livelihood of thousands of people in the Palmetto State depend on getting this project done. When it comes to deepening Charleston Harbor, failure is simply not an option." - U.S. Senator Lindsey Graham

"I am thrilled that the Army Corps of Engineers has issued its final Chief's Report. More than 187,000 jobs in South Carolina are tied to the Port, which has a $53 billion economic impact on the state each year. I have worked with the Obama Administration to ensure that funds have been provided annually to carry out this review process. Now that the project has its final approval, I look forward to working with my colleagues in Congress to provide the authorization and funding necessary to deepen the harbor to 52 feet. This project will create good jobs and generate economic growth and opportunity throughout the state." - 6th District Congressman Jim Clyburn

"This is great news for the bright future ahead in the state of South Carolina. Port deepening is typically a long process. The turnover time of the process conducted by the Charleston Army Corp of Engineers is a significant accomplishment and they deserve acknowledgement for the work. Now, Congress must act to authorize the project. A deeper port in Charleston is common sense. Once that work is complete, larger ships will be able to come through the Canal and deliver goods to and from Atlantic and Gulf ports along the Eastern seaboard. This will be one of the key economic drivers of the 21st century. The economic growth for the state of South Carolina will be substantial. Deepening the Charleston Port provides enhances a critical artery to the American economic engine. People now will look to South Carolina as the critical entry point to the American business and consumer. If America is going to compete on the global stage, we need to be ready for this transformation. I am proud South Carolina will be home to the frontier of the cutting edge 21st century American economy." - 3rd District Congressman Jeff Duncan

"I'm extraordinarily proud that the Army Corps of Engineers has submitted the report for the Post-45 Charleston Harbor Deepening Project to Congress. This is a great example of teamwork by the entire SC delegation, and I'm happy to have been involved in moving it forward. Even though the Port isn't in my district, I know it provides an economic engine for the entire state. I look forward to swift Congressional authorization of Charleston-52." - 5th District Congressman Mick Mulvaney

"Congratulations to the Ports Authority and the Army Corps of Engineers. Once deepened, Charleston will be the most competitive port on the East Coast. With over 187,000 jobs in South Carolina tied to the port, the harbor deepening will bring significant benefits to our entire state, including the Grand Strand and Pee Dee." - 7th District Congressman Tom Rice

"The Charleston port has been a key component to the economic growth seen throughout the Lowcountry and the State. With the deepening of the harbor, the port will continue to remain competitive in the global marketplace as well as provide jobs and improve the quality of life for South Carolinians. I believe the US Army Corp of Engineers, the Charleston District in particular, deserves tremendous credit for finalizing the feasibility study on schedule." - 1st District Congressman Mark Sanford

"This is incredibly positive news for the Port and the entire state of South Carolina. I congratulate the US Army Corps of Engineers Charleston District and SCPA for this monumental achievement in a record amount of time." - Senator Larry Grooms, SC Review and Oversight Commission on the SCPA Chairman

"Today's receipt of the Chief's Report is a testament to years of hard work and outstanding leadership by our state, local, and federal partners. This world-class deepening project will help ensure our Port remains well-positioned for future growth." - Representative Jim Merrill, SC Review and Oversight Commission on the SCPA Vice-Chairman

CHARLESTON, SC - AUGUST 19, 2015 - Today SC Ports Authority reported 2015 fiscal year-end operating earnings of $30.4 million and revenues of $196.8 million, significant increases over the previous year's financial performance.

From July through June, SCPA more than doubled its previous fiscal year's operating earnings of $14.3 million, while operating revenues increased 20 percent over FY2014 revenues of $32.6 million. Total operating expenses for the 2015 fiscal year totaled $166.3 million.

"The strong financial performance achieved during the 2015 fiscal year reflects the SCPA's focus on achieving the growth required to execute its aggressive capital investment plan," said SCPA Board Chairman Bill Stern.

The positive financial report comes on the heels of 14 percent FY2015 container volume growth reported last month. SCPA handled 1.9 million twenty-foot equivalent units (TEUs) during the period, an increase of 231,473 TEUS over the previous fiscal year. The fiscal year results continue SCPA's above-market growth trend, with 8 percent growth achieved during the 2014 fiscal year and 9 percent the prior year.

"With 14 percent container volume growth and operating cash flow well above plan, SCPA is well-positioned to continue moving forward with key strategic projects and above-market growth," said SCPA president and CEO Jim Newsome.

July Volumes

SCPA reported a strong start to the 2016 fiscal year, handling 175,223 TEUs in July for an increase of 14 percent over the same month last year. Calendar year to date, TEU volumes are up 14.2 percent over last year with 1.17 million TEUs handled since January.

As measured in pier containers, SCPA handled nearly 100,000 boxes last month for a gain of 12.8 percent over July 2014.

Non-containerized cargo volumes were positive in July, with 163,490 pier tons handled. Charleston moved 83,440 tons during the month, 47.7 percent higher than planned breakbulk volumes for the month. Tonnage was also ahead of plan at Georgetown in July, with 80,500 tons handled.

The Inland Port achieved record volumes in July, with 7,567 rail moves completed during the month. Growth at the facility has been strong since it opened in November 2013, and during its first full fiscal year of operation in FY2015, the Inland Port handled 58,407 total rail moves.

Board Action

In action items, the Board awarded construction contracts for the Wando Welch Terminal improvement project and the expansion of the refrigerated cargo yard at North Charleston Terminal.

To meet growing volume demand at the Inland Port, the Board approved a transfer of two rubber-tired gantry cranes from the Wando Welch Terminal to the terminal in Greer.

Community Giving Awards

SCPA announced $81,000 in grants to 42 charitable organizations through its annual Community Giving Program, which provides grant support in regions where SCPA operates in order to positively impact maritime commerce, economic development, the environment, and educational and community needs.

"The port's mission extends beyond maritime commerce and economic development activities, "said Newsome. "Community Giving is an important program that enables us to be a strong community partner and neighbor. From a large pool of worthy applicants, the organizations selected to receive grant funds will support critical programs and initiatives in the communities where we operate."

Recipients of a $5,000 grant included Charleston Waterkeeper, Chucktown Squash Scholars and Daniel Morgan Technology Center. Charleston Waterkeeper, whose mission is to protect and restore Charleston's waterways for the community and future generations, will utilize the grant to administer two months of laboratory water quality testing as part of the Recreational Water Quality Testing Program.

Chucktown Squash Scholars, an after-school youth development program that integrates the sport of squash with academic tutoring, literacy development, fitness education and community service, will utilize SCPA funds to administer its mentoring program for 50 students at three Charleston County School District Title One schools.

Daniel Morgan Technology Center, South Carolina's only secondary career center offering a global logistics program, will utilize the grant funds to purchase classroom equipment needed to deliver supply chain and logistics courses for Spartanburg High School and Broome High School students.

Other recipients earned $2,500 and $1,000 grants for numerous programs and efforts including mentoring, free book programs and STEAM (science, technology, engineering, arts and math) education; hunger relief and emergency assistance; litter collection and environmental monitoring programs; and community health programs.

Grant recipients include:

American Red Cross

Be a Mentor

Camp Rise Above

Charleston Gaillard Management Company

Charleston Habitat for Humanity

Community Pride, Inc.

East Cooper Meals on Wheels

Engaging Creative Minds

Friends of Coastal South Carolina

Friends of Keep Charleston Beautiful

Greater Charleston Business Alliance

Greer Relief & Resources Agency

Harvest Hope Food Bank

Hospice and Palliative Care Foundation

Jasper County First Steps

Junior Achievement of Central South Carolina

Lowcountry Food Bank

LowCountry Habitat for Humanity

Lowcountry Maritime Society

Lowcountry Orphan Relief

Metanoia

Palmetto Project/BEGIN WITH BOOKS

Reach Out and Read Carolinas

Redux Contemporary Art Center

Roscoe Reading Program

South Carolina Aquarium

South Carolina Maritime Museum

Ten at the Top

The Partners for a Better Community

The Salvation Army, Charleston Corps

The Village Group

Trident Literacy Association

United Ministries

Upstate Forever

USS Yorktown Foundation

Ward Leigh Foundation

Water Missions International

WINGS for kids

Wounded Nature - Working Veterans

Community Giving was created in 2012. For more information about the Community Giving program, visit Community Giving.

South Carolina Ports Authority (SPCA), established by the state?s General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 statewide jobs and generate nearly $45 billion annual economic activity. Home to the Southeast?s deepest port, SCPA is the industry leader in delivering speed-to-market, seamless processes and flexibility to ensure reliable operations, big ship handling, efficient market reach and environmental responsibility. For more information on South Carolina Ports, please visit www.scspa.com.

CHARLESTON, SC - AUGUST 19, 2015 - Today the South Carolina Ports Authority (SCPA), Representative Jim Merrill and Senator Larry Grooms announced the completion of a lease agreement granting oversight of a 50-acre land parcel on Daniel Island to the South Carolina Department of Parks, Recreation and Tourism (SCPRT) for public benefit.

The 99-year lease fulfills a state budget proviso requiring the SCPA to transfer 50 acres of its property on Daniel Island to the agency that oversees the state's parks and recreation facilities, providing residents of the City of Charleston visitors from across the TriCounty region access to additional passive and active recreational space.

"This land transfer is a significant milestone in safeguarding the future of the port and the Lowcountry," Representative Merrill said. "For over 15 years we have struggled to find a mutually-beneficial purpose for the surplus port property on Daniel Island. Now, due to the work of visionaries like the SCPA Board, Jim Newsome, Matt Sloan and a host of others, we can begin to see those plans take shape."

"By transferring 50 acres of land and also offering other port property on Thomas Island for sale to its previous owners, we're helping protect local quality of life while returning some property to the private sector," Senator Grooms said. "It's a great example of what can be accomplished when we work together to determine sound public policy."

"My goal all along has been to assure the residents of the Island that property previously proposed for a container terminal would no longer be on the table, and that the new port permitted and under construction on the former navy base would be the SCPA's future capacity in the Charleston area," Merrill said. "What began as a bitter fight and disagreement can now become a tremendous victory for all."

In addition to the recreational space to be managed by SCPRT, approximately 900 of the 1300 acres of SCPA-owned property on Daniel Island will be utilized for dredge disposal needs. Potential plans for the remaining acreage include the opportunity for The Daniel Island Company to acquire a small parcel proximate to its development. In addition, Representative Merrill and Senator Grooms are working with SCPA to secure the regulatory permissions required to utilize a portion of the property for a saltwater mitigation bank for South Carolina.

"While it is critical for the Port to maintain necessary dredge disposal capacity in preparation for our harbor deepening project, we are pleased that our surplus property can be utilized by local residents for recreational use," said SCPA president and CEO Jim Newsome. "We appreciate the involvement of Representative Merrill and Senator Grooms and believe that today's announcement is a very positive outcome both for the Port and for Daniel Island."

Above: A 50-acre property, noted in yellow, has been leased to South Carolina Department of Parks, Recreation and Tourism for public use.

About South Carolina Ports Authority

South Carolina Ports Authority (SPCA), established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 statewide jobs and generate nearly $45 billion annual economic activity. Home to the Southeast's deepest port, SCPA is the industry leader in delivering speed-to-market, seamless processes and flexibility to ensure reliable operations, big ship handling, efficient market reach and environmental responsibility. For more information on South Carolina Ports, please visit https://scspa.com.

CHARLESTON, SC - Container volumes increased 14 percent during SC Ports Authority's 2015 fiscal year, building upon several previous years of above-market growth with strength across all business segments.

"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."

SCPA handled 1.9 million twenty-foot equivalent units (TEUs) during the fiscal year that ended June 30, a jump of 231,473 TEUs from the 2014 fiscal year. June volumes provided a strong finish to FY2015 with 169,913 TEUs moved during the month.

Pier containers, or box volume, also climbed 14 percent in FY2015 with 138,221 more boxes handled compared to FY2014. SCPA moved 96,916 boxes in June, pushing total fiscal year volume to 1.1 million containers.

"I'm extremely proud of the significant growth we achieved this fiscal year," said Bill Stern, SCPA Board Chairman. "The SCPA's continued success is rooted in the leadership of our strong Board, a talented CEO and senior staff, and support from a productive maritime community."

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. Manufacturing in the Southeast remains strong, and SCPA provides the deep water required to handle ships fully-loaded with heavy exports. The booming automotive sector in the Southeast also supported both import and export volume gains.

Successful recruitment of discretionary cargo played a key role in SCPA's above-market growth as well. A competitive, broad-based rail market with ample capacity has made SCPA the port of choice for cargo produced beyond the Southeast region, including plastics from the US Gulf and agricultural products from the Midwest. Volume gains of agricultural exports were also driven by local industries such as SC-grown soybeans, whose export volume doubled during the last fiscal year.

"Fiscal year 2015 was marked by a number of exciting economic development announcements representing future volume opportunities for SCPA, including Daimler, Kent Bicycle, Volvo, and most recently, Dollar Tree," Newsome said. "The port's ability to serve these companies' supply chains played a key role in their decision to locate or expand in SC. Our strategic initiative to grow our cargo base is paying off."

In the non-containerized cargo segment, breakbulk tonnage exceeded fiscal year planned volumes by 6 percent with 1.4 million pier tons handled during the year. Georgetown moved 548,933 tons during the period, while Charleston handled 871,974 tons. Roll-on/roll-off cargo within the breakbulk sector grew significantly, and SCPA achieved the highest finished vehicle volume ever handled at the Columbus Street Terminal. In FY2015, 253,338 vehicles moved across SCPA docks, an increase of 15 percent over the previous record of 219,900 vehicles in FY2008.

Monthly volumes peaked at the Inland Port in June, with 6,736 rail moves handled during the month. The terminal's first full fiscal year of operations concluded with 58,407 rail moves, which surpasses initial annual volumes projected five years into terminal operations.

In the fiscal year ahead, SCPA 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 Preconstruction Engineering and Design phase is ongoing, followed by construction.

Quotes

"Our ports system is one of our greatest treasures, it drives our state's economic development engine, and its continued growth is another success for everyone in South Carolina to celebrate." - Governor Nikki Haley

"I congratulate the SCPA on their strong volume performance this year. The SCPA has aggressively captured significant market growth in the Southeast recently, and its success in outpacing competitors is incredibly positive news for South Carolina." - Senator Larry Grooms, SC Review and Oversight Commission on the State Ports Authority Chairman

"The volume results achieved by South Carolina Ports Authority are great news for our state. The strategic initiatives ahead ensure our Port remains competitive and well-poised to meet future industry needs. I congratulate Jim Newsome and the South Carolina Ports Authority team for outstanding performance and leadership." - Representative Jim Merrill, SC Review and Oversight Commission on the State Ports Authority Vice-Chairman

About SC Ports Authority

The South Carolina Ports Authority, established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 jobs across South Carolina and nearly $45 billion in economic activity each year. For more information, visit www.scspa.com.

CHARLESTON, SC - Today SC Ports Authority announced $1.303 million in federal funding for the Post-45 Harbor Deepening project, allowing the Preconstruction Engineering and Design (PED) Phase of the 52-foot deepening effort to begin. The announcement follows last week's US Army Corps of Engineers Civil Works Review Board (CWRB) approval to release the project's Final Integrated Feasibility Report and Environmental Impact Statement for final review, another critical step of federal approval for the SC Port Authority to provide the deepest harbor on the East Coast.

"The allocation of federal funding for the PED phase of our deepening project is tremendous," said SCPA Board Chairman Bill Stern. "We are grateful to the leadership of state and federal elected officials and the Obama Administration for their united support of Charleston's harbor deepening. The merit of our project and the significant benefits it will deliver for our state and nation are signified by the efforts of elected officials on all levels to ensure it progresses without delay."

Total PED costs for Charleston's deepening project are estimated at $4.5 million, divided equally between federal and state government. With the full estimated state share of the design and construction costs set aside by the South Carolina General Assembly in 2012, the PED phase is 80 percent funded even before issuance of the project's Chief's Report.

The PED funding provides for the execution of a design agreement with the Corps of Engineers, allowing work to proceed in order to finalize the project design and produce contract documents. PED is the final major step in the deepening process before construction begins. Additional work completed during this phase includes ship simulation studies, refinement of cost estimates, coastal monitoring and analysis of beneficial use of dredged material.

Concurrent with preparations for the design agreement is a 30-day review period of the final report for state and resource agencies that begins July 10. The Chief's Report, issued by the US Army Corps of Engineers, is expected to be finalized by September and transmitted to Congress for authorization later this year.

"The container shipping industry's deployment of big ships is evident, and there is no question that the Southeast needs a harbor deeper than 50 feet to accommodate fully-loaded post-Panamax container ships," said SCPA president and CEO Jim Newsome. "SCPA will soon be able to handle these vessels without tidal restriction, ensuring we can support growing volume needs. The US Army Corps of Engineers' timely response to this dominant industry need is admirable, and we look forward to the completion of PED followed by significant progress on construction by the end of the decade."

The Post-45 Deepening Project began in 2011 and has moved expeditiously through the US Army Corps of Engineers' accelerated planning process. Upon completion of the 52 foot deepening, Charleston will offer the deepest harbor on the East Coast with unrestricted capability to handle post-Panamax vessel calls.

About SC Ports Authority

The South Carolina Ports Authority, established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 jobs across South Carolina and nearly $45 billion in economic activity each year. For more information, visit www.scspa.com.

CHARLESTON, SC - Today in Washington, DC, the US Army Corps of Engineers Civil Works Review Board (CWRB) unanimously approved the Final Integrated Feasibility Report and Environmental Impact Statement for the Charleston Post-45 Harbor Deepening project, a significant step in the federal process that ensures the project is on schedule to receive its Chief's Report this September.

"Today's approval by the Civil Works Review Board allows our harbor deepening project to progress without delay," said Jim Newsome, SCPA president and CEO. "Once deepening to 52 feet is realized, Charleston will offer the deepest harbor on the East Coast with the capability to serve fully-loaded post-Panamax vessels 24 hours a day. Our deepening project, coupled with significant SCPA investments landside infrastructure and terminal capacity, support SCPA cargo volume growth more than twice the national port average. We are fortunate to have great partners in US Army Corps of Engineers, whose collective expertise and commitment was demonstrated today."

The final report has been approved for release for a 30-day review period for state and resource agencies. The Chief's Report is expected to be signed in September and then transmitted to Congress, with construction to begin following the Preconstruction, Engineering and Design Phase.

"A competitive, growing port brings tremendous economic benefits to our state and our region," said SCPA Board Chairman Bill Stern. "Recognizing the importance of the deepening project to our port, elected officials from all levels of government as well as the business community and the public are united in their support of 52 feet. South Carolina, the Southeastern region and our nation will enjoy the positive impacts of the Charleston harbor deepening for years to come."

Efforts to deepen the Charleston harbor began in 2011 in order to provide the depth necessary to handle post-Panamax vessel calls without tidal restriction. The expansion of the Panama Canal and the raising of the Bayonne Bridge in NJ are expected to significantly increase the size of cargo vessels deployed to East Coast ports, making deepwater a requirement for modern ports. In addition, growth of population and manufacturing in the Southeast has been a significant driver of volume gains and the need for a deeper harbor. Charleston currently receives 11 post-Panamax vessel calls weekly.

In 2013, the SC General Assembly set aside the full estimated state share of the deepening construction costs, and the project was named was named one of President Obama's "We Can't Wait" initiatives.

About SC Ports Authority

The South Carolina Ports Authority, established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 jobs across South Carolina and nearly $45 billion in economic activity each year. For more information, visit www.scspa.com.

CHARLESTON, SC - Following a record-setting month of container volumes achieved in May, the SC Ports Authority Board of Directors looked ahead to a favorable 2016 fiscal year today with the adoption of a financial plan that includes continued cargo growth, increased operating revenues and significant capital investments.

The plan projects pier container volume of 1.15 million boxes during FY2016, a 7.2 percent increase over projected totals for the current fiscal year. Strong growth at the Inland Port is also planned, with rail moves expected to increase 6.9 percent over FY2015 projected totals.

Operating revenues in the new fiscal year are planned to increase 9.2 percent, or $17.7 million higher than FY2015 projected revenues.

"This plan builds upon year-over-year success of our port system," said SCPA Board Chairman Bill Stern. "The 2016 fiscal year will be a significant time for our port and state, marked by the receipt of the Chief's Report this September for our 52-foot harbor deepening project as well as the continued progress of Navy Base Terminal construction and other significant improvements to our existing terminals. We are well-positioned for the future."

The Board approved capital expenditures of $165.6 million for the fiscal year. The SCPA will invest $73.3 million over the next 12 months in the ongoing construction of the new container terminal on the former Navy Base, which will open in late 2019. Other primary capital expenditures include existing terminal infrastructure improvements, new equipment as well as two new super post-Panamax cranes, and a wharf strengthening project and upgrades for refrigerated cargo at the Wando Welch Terminal.

"I expect SCPA will continue to see strong growth of revenues and handle volumes significantly above the US port market average over the next fiscal year, making this aggressive financial plan achievable," said SCPA president and CEO Jim Newsome. "We currently receive 11 post-Panamax vessel calls weekly, and the improvements to our dockside infrastructure coupled with our harbor deepening project ensure our port offers first-class facilities designed to receive and deliver containers quickly and handle ships fully-loaded with export cargo headed to foreign ports."

Volume Results and Board Action

The SCPA handled 104,003 boxes in May alone, setting an all-time high for the number of containers handled during one month and pushing fiscal year to date box volume past FY2014 totals.

"Our May volumes are a testament to the quality of service offered by SC Ports - we handle record-setting volume while maintaining reliability for our customers," Newsome said.

As measured in twenty-foot equivalent units, or TEUs, SCPA has handled 1.7 million TEUs fiscal year to date for a 13.7 percent gain over the same period last year. The port handled 181,809 TEUs last month, an increase of 12.5 percent over May 2014 volumes.

The Inland Port achieved record volumes in May, with 5,845 rail moves completed during the month. The facility has handled 51,671 rail moves fiscal year to date, already surpassing initial volume projections for five years of terminal operations.

Breakbulk volumes in Charleston and Georgetown are 4.3 percent ahead of fiscal year plans, with 1.3 million pier tons handled to date. Charleston moved 82,277 tons last month, and Georgetown handled 40,345 tons in May.

In Board action, a resolution to accept an offer from Palmetto Alliance Property Group, LLC for the Port of Port Royal for $15.42 million was approved. The transaction will be presented to the SC Department of Administration prior to closing in November.

The Board also approved a contract for routine berth dredging at Columbus Street and Union Pier terminals.

Community Giving Grant Program

The application period for the Port's non-profit grant program, Community Giving, opened this month with opportunities for charitable organizations to apply for $5,000, $2,500 and $1,000 grants. Grants are available in four outreach areas: maritime commerce, economic development, environmental awareness and community outreach.

Community Giving was created in 2013 to support programs and initiatives that better the communities where the port operates. Applications are available on the Port's website, www.scspa.com, and are due August 3.

About SC Ports Authority

The South Carolina Ports Authority, established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 jobs across South Carolina and nearly $45 billion in economic activity each year. For more information, visit www.scspa.com.

CHARLESTON, SC - SC Ports Authority handled nearly 15 percent more pier containers fiscal year to date than the same period last year, with total box volume through April climbing to nearly 900,000 containers.

SCPA handled 96,166 pier containers in April, compared to 86,505 boxes moved during the same month last year. The port plans to handle more than 1 million containers by the completion of its fiscal year on June 30.

As measured in twenty-foot equivalent units, or TEUs, container volume is up 13.9 percent fiscal year to date. SCPA handled 168,182 TEUs in April, bringing total container volume to 1.6 million TEUs since the fiscal year began in July. Four months into the calendar year, TEU volumes are up 15 percent compared to the same period in 2014.

Breakbulk volumes fiscal year to date are strong, with 698,229 tons handled by the Port of Charleston and 460,209 moved in Georgetown. Total breakbulk tonnage reached 1.2 million pier tons fiscal year to date and is 4.5 percent ahead of plan.

The Inland Port handled its highest ever monthly rail moves, with 5,513 moves completed in April. Fiscal year to date, the facility has handled 45,826 rail moves.

"The volumes announced today reflect significant growth across all business segments," said SC Ports Authority Vice-Chairman John Hassell. "Spring is typically a busy season for us, particularly on the containerized cargo side, and our sustained double-digit volume growth reflects the strong import-export markets we serve. The port's ability to handle increased container traffic with high productivity is a testament to our ability to handle rising cargo volumes both reliably and efficiently."

Board Action
The Board voted to approve a project that includes paving and container yard improvements at the North Charleston Terminal to provide greater operational flexibility. Three Navy Base Terminal site preparation projects were also approved in order to prepare the site for the final construction phase.

About SC Ports Authority
The South Carolina Ports Authority, established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 jobs across South Carolina and nearly $45 billion in economic activity each year. For more information, visit www.scspa.com.