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South Carolina Ports Authority doubled profit to US$30.4 million in FY2015
THE South Carolina Ports Authority, which runs the Port of Charleston, more than doubled operating profit to US$30.4 million for fiscal 2015, which was drawn on revenues of $196.8 million, a 20 per cent increase year on year.
"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 chairman Bill Stern.
The positive financial report comes on the heels of 14 per cent FY2015 container volume growth. SCPA handled 1.9 million TEU during the period, an increase of 231,473 TEU over the previous fiscal year.
The fiscal year results continue SCPA's above-market growth trend, with eight per cent growth achieved during the 2014 fiscal year and nine per cent the prior year.
SCPA reported a strong start to the 2016 fiscal year, handling 175,223 TEU in July for an increase of 14 per cent year on year. Calendar year to date, box volumes are up 14.2 per cent with 1.17 million TEU handled since January.
Non-containerised cargo volumes were positive in July, with 163,490 pier tons handled. Charleston moved 83,440 tons during the month, 47.7 per cent 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.
"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 chairman Bill Stern.
The positive financial report comes on the heels of 14 per cent FY2015 container volume growth. SCPA handled 1.9 million TEU during the period, an increase of 231,473 TEU over the previous fiscal year.
The fiscal year results continue SCPA's above-market growth trend, with eight per cent growth achieved during the 2014 fiscal year and nine per cent the prior year.
SCPA reported a strong start to the 2016 fiscal year, handling 175,223 TEU in July for an increase of 14 per cent year on year. Calendar year to date, box volumes are up 14.2 per cent with 1.17 million TEU handled since January.
Non-containerised cargo volumes were positive in July, with 163,490 pier tons handled. Charleston moved 83,440 tons during the month, 47.7 per cent 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.
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