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            december 06, 2019

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IRFC 2020

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SCPA achieves record monthly box throughput


The South Carolina Ports Authority (SCPA) handled an all-time high of 233,110 TEU at the Wando Welch and north Charleston container terminals in August, representing a year-on-year increase of 13 per cent. So far in fiscal year 2020 volumes are up nine per cent to stand at 443,652 TEU.
"Our record volumes are driven by a strong US economy, as well as our advantageous southeast location and consistently productive terminals," SCPA president Jim Newsome said in a statement.
The port moved 58,966 breakbulk tonnes in August, up 43 per cent from a year ago. It also handled 19,032 vehicles at Columbus Street Terminal during the month, up 45 per cent.
Inland port Greer registered 14,854 rail moves in August, up 24 per cent year on year, while inland port Dillon recorded 3,204 rail moves, an increase of 60 per cent.
"As the east coast port market continues to grow, we are well positioned to handle more cargo," Mr Newsome said. "We continue to invest in vital infrastructure, including completing the first phase of the Hugh K Leatherman Sr Terminal in north Charleston in 2021, deepening Charleston harbour to 52 feet and equipping the Wando Welch terminal in Mount Pleasant with additional 155-foot-tall ship-to-shore cranes."
SCPA issued a series 2019 revenue bonds with proceeds totalling US$547 million. This significant milestone enables the port to finish construction of phase one of the Hugh K Leatherman Sr Terminal in north Charleston in early 2021.
The bond issuance - the largest in the port's history - comes on the heels of receiving positive ratings from Moody's Investors Service and S&P Global Ratings. Moody's A1/stable outlook rating and S&P's A+/stable rating affirms the port's financial position and prepares it for future investments.
"We continue to invest in modernising our terminals, deepening our harbour, upgrading our equipment and building a new container terminal to double port capacity. These initiatives will ensure the port can handle mega containerships and remain competitive as a top 10 US container port," added Mr Newsome.

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