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SCPA boxes up 9.4pc, says US$262 million will be spent next year
THE South Carolina Ports Authority (SCPA) has posted a 9.4 per cent year-on year increase in container volume to 1.96 million TEU in the fiscal year to date, ending June 30.
The port also posted the strongest May volume in the port's history - 182,452 TEU.
As measured in pier containers, or total boxes, SCPA moved 103,462 containers in May. The port handled 1.1 million pier containers in the fiscal year to date.
May was a record month at Inland Port Greer, with 47 per cent growth in rail lifts over May 2016. The facility handled 12,702 rail moves in May, bringing fiscal year to date rail volume to 108,701 rail lifts.
In a separate development, the SCPA's board of directors has adopted a 2018 fiscal year financial plan that includes US$251.1 million operating revenues, $44.1 million operating earnings, and capital expenditures of $262.3 million.
The plan projects pier containers, or box volume, of 1.26 million during FY2018, a six per cent increase from the 1.19 million boxes SCPA is expected to handle this fiscal year. Strong growth at Inland Port Greer is also planned, with rail moves expected to increase 20 per cent over FY2017 projected totals, a statement said.
Planned operating revenues for FY2018 reflect a 9.4 per cent increase above the current fiscal year, which are expected to reach $229.4 million.
The board approved a $262.3 million capital plan, the largest in the SCPA's history, with expenditures projected $14.3 million higher than FY2017. SCPA will invest $54 million in site development, construction and equipment for the construction of the Hugh K Leatherman Terminal, a new container terminal slated to open in 2020.
Other primary capital expenditures planned include $86.3 million in upgrades to the Wando Welch Terminal, including the completion of the wharf modernisation project; $32.2 million for the construction of Inland Port Dillon, opening during the spring of 2018; and $23.3 million for the construction of the new SCPA corporate office.
"SCPA is handling larger volumes than ever before, and our plans for the new fiscal year enable our existing facilities to handle big ships," said SCPA president and CEO, Jim Newsome. "This is the largest capital expenditure plan in our history, encompassing a number of projects that collectively will enhance the service of our port."
The port also posted the strongest May volume in the port's history - 182,452 TEU.
As measured in pier containers, or total boxes, SCPA moved 103,462 containers in May. The port handled 1.1 million pier containers in the fiscal year to date.
May was a record month at Inland Port Greer, with 47 per cent growth in rail lifts over May 2016. The facility handled 12,702 rail moves in May, bringing fiscal year to date rail volume to 108,701 rail lifts.
In a separate development, the SCPA's board of directors has adopted a 2018 fiscal year financial plan that includes US$251.1 million operating revenues, $44.1 million operating earnings, and capital expenditures of $262.3 million.
The plan projects pier containers, or box volume, of 1.26 million during FY2018, a six per cent increase from the 1.19 million boxes SCPA is expected to handle this fiscal year. Strong growth at Inland Port Greer is also planned, with rail moves expected to increase 20 per cent over FY2017 projected totals, a statement said.
Planned operating revenues for FY2018 reflect a 9.4 per cent increase above the current fiscal year, which are expected to reach $229.4 million.
The board approved a $262.3 million capital plan, the largest in the SCPA's history, with expenditures projected $14.3 million higher than FY2017. SCPA will invest $54 million in site development, construction and equipment for the construction of the Hugh K Leatherman Terminal, a new container terminal slated to open in 2020.
Other primary capital expenditures planned include $86.3 million in upgrades to the Wando Welch Terminal, including the completion of the wharf modernisation project; $32.2 million for the construction of Inland Port Dillon, opening during the spring of 2018; and $23.3 million for the construction of the new SCPA corporate office.
"SCPA is handling larger volumes than ever before, and our plans for the new fiscal year enable our existing facilities to handle big ships," said SCPA president and CEO, Jim Newsome. "This is the largest capital expenditure plan in our history, encompassing a number of projects that collectively will enhance the service of our port."
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