FOR IMMEDIATE RELEASE
Charleston, SC - The South Carolina State Ports Authority (SCSPA) Board today approved $26 million in projects, while the Port of Charleston reported a 26 percent increase in container volume last month over the same month last year.
July was the port's strongest month since October 2008. Shipping container volume totaled 73,818 pier containers, up 26 percent from 58,603 pier containers in July 2009.
While this was the fifth month of double-digit growth, SCSPA officials reported that it is unclear if the national and global economy is truly on the rebound and can be sustained, or if recent increases are more of a reflection of inventory restocking and other short-term drivers.
The SCSPA also reported final results for the fiscal year that ended June 30. During FY2010, the SCSPA surpassed its volume budget, thanks to a strong last half of the year when container traffic increased 19 percent. In addition, despite the toughest economy in recent history, the SCSPA posted positive operating earnings when a number of ports endured financial losses for the year.
Also during the August meeting, the SCSPA Board awarded approximately $26 million in construction and professional service contracts, including:
About the South Carolina State Ports Authority
The South Carolina State Ports Authority, established by the state's General Assembly in 1942, owns and operates public seaport facilities in Charleston and Georgetown, handling international commerce valued at nearly $45 billion annually while receiving no direct taxpayer subsidy. An economic development engine for the state, port operations facilitate 260,800 jobs across South Carolina and $44.8 billion in economic activity each year. For more information, visit www.scspa.com.