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Sunday, November 29, 2020

Bill Stern News

$138M Ok'd for Charleston Harbor Project

US President Donald Trump approved $138 million for the Charleston Harbor Deepening Project as part of the Energy and Water Appropriations Bill in the 2020 Budget.According to a statement from South Carolina Ports Authority, both the Senate and the House voted to approve the appropriations bill this week as part of the fiscal year 2020 funding package, and Trump signed it into law Friday."This enormous step forward means the project is fully funded to completion and on track to achieve a 52-foot depth in 2021," it said.S.C.

SCPA Reaches Record Volumes

South Carolina Ports Authority (SCPA) announced the strongest March in its history and more than 11 percent fiscal year-over-year growth.SCPA moved 214,123 twenty-foot equivalent container units (TEUs) last month, making it the second highest month in SCPA history. The Port handled its highest monthly record in October 2018, with 217,035 TEUs moved across the docks.“The record volumes achieved last month reflect a very positive end to our third quarter of the fiscal year,” said Jim Newsome…

From left, SC Ports Authority Senior Vice President of Operations and Terminals Barbara Melvin and CEO Jim Newsome celebrate the purchase of 26 rubber-tired gantry cranes with Konecranes representatives Mika Mahlberg, Executive Vice President of Port Solutions and Jussi Suhonen, Regional Sales Director Americas, Port Solutions. (Photo: SCPA)

SC Ports Plans for 5% Container Growth

Today, the South Carolina Ports Authority Board of Directors adopted a 2019 fiscal year financial plan that includes five percent pier container growth, $280.8 million in operating revenues, $42.9 million in operating earnings, and capital expenditures of $277.6 million. The plan projects a pier container volume, or boxes handled, of 1.305 million during FY2019, as well as a five percent increase from the 1.24 million pier containers that the SCPA expects to handle in FY2018, which ends June 30.The Port is planning for strong volumes at both inland rail facilities in FY2019.

(Photo: South Carolina Ports Authority)

USACE Announced $49 Mln for Charleston Dredging

The U.S. Army Corps of Engineers (USACE) announced $49 million for the Charleston Harbor Deepening Project in the Fiscal Year 18 Work Plan. The funds announced today will be coupled with financial support from the State of South Carolina to further the progress of deepening the Charleston Harbor to 52 feet."This funding is great news for continued construction activities and timely awarding of dredging contracts for the Charleston Harbor Deepening Project," said Bill Stern, SCPA Board Chair.

(Photo: South Carolina Ports Authority)

SC Ports Opens Inland Port Dillon

South Carolina Ports Authority officially opened Inland Port Dillon, its second inland facility constructed in the state to handle growing intermodal rail cargo volumes and deepen the port's reach into markets through the Carolinas to the Northeast and Midwest. "Inland ports provide needed infrastructure in the interior of the state to support the movement of freight to and from our marine terminals," said Jim Newsome, SCPA president and CEO. "The addition of Inland Port Dillon…

SCPA Box Volumes Up; Leadership Realigned

On the heels of announcing its five-year growth, investment and cargo base expansion plans at the State of the Port, South Carolina Ports Authority (SCPA) reported a four percent increase in August container volumes over the same month last year. SCPA said it handled 170,528 twenty-foot equivalent units (TEUs) in August. With 345,751 TEUs moved during the first two months of the 2016 fiscal year, container volume is up 8.8 percent year-over-year. As measured in pier containers, nearly 97,000 boxes moved across SCPA docks in August.

Charleston Harbor to be Deepened

Today the US Army Corps of Engineers released the Draft Integrated Feasibility Report and Environmental Impact Statement for the Post-45 Harbor Deepening project, recommending that the Charleston Harbor be deepened to 52 feet. "The Port of Charleston's ability to handle post-Panamax vessels 24 hours a day without tidal restriction is critical to the future competitiveness of our state port system," said Jim Newsome, SCPA president and CEO. "Completion of our harbor deepening project to 52 feet ensures that SCPA will continue to grow above the market average and remain a top ten port…

Photo: SC Ports Authority

SC Ports’ Earnings, Volumes Surpass Plans

SC Ports Authority reported 2014 fiscal year-end operating earnings of $14.3 million, 20.7 percent over the organization's financial plan. From July through June, the SCPA posted operating revenues of $164.1 million, an increase of nearly 17 percent over the previous fiscal year. FY2014 expenses totaled $149.9 million. "With the Port's aggressive capital plan for the next several years, a solid financial performance is essential," said SCPA Board Chairman Bill Stern. Last month the SCPA announced 8 percent container growth for the fiscal year…

Charleston Harbor Dredging Funds in President's Budget

The President's FY 2014 Budget once again includes funds to continue Charleston's Post-45 harbor deepening project. This project was designated last year by the Administration as one of its priority infrastructure projects. The recently released fiscal year 2014 budget includes a $1.165-million allocation to continue the considerable progress on the project's feasibility study, now at its midpoint. With 45 feet of depth at mean low water, Charleston currently has the deepest channels in the region and can handle ships drafting up to 48 feet on high tide.