South Carolina Ports annual container volume drops 19pc

THE South Carolina State Ports Authority (SCSPA) has announced its three container terminals in Charleston handled 1.37 million TEU, down 19 per cent year on year to 1.69 million TEU.

During the fiscal year ending June 30, breakbulk Charleston was down 17 per cent, with 549,008 pier tons handled versus 660,096 pier tons moved in the previous year.

The Port of Georgetown's volume rose three per cent year on year to 286,254 tons. However, port authorities are optimistic that "in addition to the new renewable energy project in Georgetown, several additional contracts could bring several million tons of new cargo."

Operating revenues were 18 per cent lower to US$136.2 million, while operating expenses were flat at $111 million, and profits decreased 53 per cent to $25.7 million. The SCSPA said its operating margin is close to 19 per cent.

"The global economic situation has been incredibly tough on port communities, including ours," said SCSPA chairman David Posek. "We should be proud that the people of South Carolina's ports have banded together to better serve existing customers, while attracting new business."

Highlights of the new major business accounts secured by SCSPA during fiscal 2009 include: extending through 2017 a contract with Mediterranean Shipping Company (MSC) for the Port of Charleston; bringing National Shipping Company of Saudi Arabia to Charleston with a new regular service for containers, breakbulk and ro-ro cargo; finalising a two-year contract extension with the Grand Alliance consortium; adding a new Wallenius Wilhelmsen Logistics service between the US east coast and north Europe; and entering into a new 20-year contract in the Port of Georgetown for Carolina-Pacific to export wood briquettes to north Europe, starting this autumn.

Also during the past year, the search for a new president and CEO concluded with the hiring of James Newsome as the fifth leader in the SCSPA's history. Mr Newsome begins on September 1 after a more than 30-year shipping career, most recently as president of Hapag-Lloyd (America).
 
(Source: www.schednet.com)