SC Ports Authority Posts $30.4 Million in Operating Earnings - SC Ports Authority
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Contact: Erin Dhand, Manager, Corporate Communications and Community Affairs
Telephone: 843-577-8121 • Fax: 843-577-8127 • e-mail: EDhand@scspa.com

FOR IMMEDIATE RELEASE
08/19/2015

SC Ports Authority Posts $30.4 Million in Operating Earnings

SC Ports Authority Posts $30.4 Million in Operating Earnings, $196.8 Million in Revenues Community Giving Program Announces $81,000 in Grants to 42 Charitable Organizations

CHARLESTON, SC – AUGUST 19, 2015 – Today SC Ports Authority reported 2015 fiscal year-end operating earnings of $30.4 million and revenues of $196.8 million, significant increases over the previous year’s financial performance.

From July through June, SCPA more than doubled its previous fiscal year’s operating earnings of $14.3 million, while operating revenues increased 20 percent over FY2014 revenues of $32.6 million. Total operating expenses for the 2015 fiscal year totaled $166.3 million.

“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 Board Chairman Bill Stern.

The positive financial report comes on the heels of 14 percent FY2015 container volume growth reported last month. SCPA handled 1.9 million twenty-foot equivalent units (TEUs) during the period, an increase of 231,473 TEUS over the previous fiscal year. The fiscal year results continue SCPA’s above-market growth trend, with 8 percent growth achieved during the 2014 fiscal year and 9 percent the prior year.

“With 14 percent container volume growth and operating cash flow well above plan, SCPA is well-positioned to continue moving forward with key strategic projects and above-market growth,” said SCPA president and CEO Jim Newsome.

July Volumes

SCPA reported a strong start to the 2016 fiscal year, handling 175,223 TEUs in July for an increase of 14 percent over the same month last year. Calendar year to date, TEU volumes are up 14.2 percent over last year with 1.17 million TEUs handled since January.

As measured in pier containers, SCPA handled nearly 100,000 boxes last month for a gain of 12.8 percent over July 2014.

Non-containerized cargo volumes were positive in July, with 163,490 pier tons handled. Charleston moved 83,440 tons during the month, 47.7 percent 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.

Board Action

In action items, the Board awarded construction contracts for the Wando Welch Terminal improvement project and the expansion of the refrigerated cargo yard at North Charleston Terminal.

To meet growing volume demand at the Inland Port, the Board approved a transfer of two rubber-tired gantry cranes from the Wando Welch Terminal to the terminal in Greer.

Community Giving Awards

SCPA announced $81,000 in grants to 42 charitable organizations through its annual Community Giving Program, which provides grant support in regions where SCPA operates in order to positively impact maritime commerce, economic development, the environment, and educational and community needs.

“The port’s mission extends beyond maritime commerce and economic development activities, “said Newsome. “Community Giving is an important program that enables us to be a strong community partner and neighbor. From a large pool of worthy applicants, the organizations selected to receive grant funds will support critical programs and initiatives in the communities where we operate.”

Recipients of a $5,000 grant included Charleston Waterkeeper, Chucktown Squash Scholars and Daniel Morgan Technology Center. Charleston Waterkeeper, whose mission is to protect and restore Charleston’s waterways for the community and future generations, will utilize the grant to administer two months of laboratory water quality testing as part of the Recreational Water Quality Testing Program.

Chucktown Squash Scholars, an after-school youth development program that integrates the sport of squash with academic tutoring, literacy development, fitness education and community service, will utilize SCPA funds to administer its mentoring program for 50 students at three Charleston County School District Title One schools.

Daniel Morgan Technology Center, South Carolina’s only secondary career center offering a global logistics program, will utilize the grant funds to purchase classroom equipment needed to deliver supply chain and logistics courses for Spartanburg High School and Broome High School students.

Other recipients earned $2,500 and $1,000 grants for numerous programs and efforts including mentoring, free book programs and STEAM (science, technology, engineering, arts and math) education; hunger relief and emergency assistance; litter collection and environmental monitoring programs; and community health programs.

Grant recipients include:

American Red Cross

Be a Mentor

Camp Rise Above

Charleston Gaillard Management Company

Charleston Habitat for Humanity

Community Pride, Inc.

East Cooper Meals on Wheels

Engaging Creative Minds

Friends of Coastal South Carolina

Friends of Keep Charleston Beautiful

Greater Charleston Business Alliance

Greer Relief & Resources Agency

Harvest Hope Food Bank

Hospice and Palliative Care Foundation

Jasper County First Steps

Junior Achievement of Central South Carolina

Lowcountry Food Bank

LowCountry Habitat for Humanity

Lowcountry Maritime Society

Lowcountry Orphan Relief

Metanoia

Palmetto Project/BEGIN WITH BOOKS

Reach Out and Read Carolinas

Redux Contemporary Art Center

Roscoe Reading Program

South Carolina Aquarium

South Carolina Maritime Museum

Ten at the Top

The Partners for a Better Community

The Salvation Army, Charleston Corps

The Village Group

Trident Literacy Association

United Ministries

Upstate Forever

USS Yorktown Foundation

Ward Leigh Foundation

Water Missions International

WINGS for kids

Wounded Nature – Working Veterans


Above: $5,000 Community Giving grant recipient Chucktown Squash Scholars will utilize SCPA grant funds for its after-school youth development program. The organization utilizes squash in combination with academic tutoring, literacy development, fitness education, community service, and mentoring to make a difference in the lives of Charleston’s underserved youth population.

Community Giving was created in 2012. For more information about the Community Giving program, visit http://www.scspa.com/About/Community/community.asp.

About South Carolina Ports Authority

South Carolina Ports Authority (SPCA), established by the state’s General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer, handling international commerce valued at more than $63 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 statewide jobs and generate nearly $45 billion annual economic activity. Home to the Southeast’s deepest port, SCPA is the industry leader in delivering speed-to-market, seamless processes and flexibility to ensure reliable operations, big ship handling, efficient market reach and environmental responsibility. For more information on South Carolina Ports, please visit http://www.scspa.com/


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