David Wren of The Post and Courier reports the Army Corps of Engineers has approved the deepening of the Port of CHS from 45′ to 52′ to handle post-Panamax ships so they can carry up to 14,500 cargo boxes thru the Port at any time of the day (instead of waiting on incoming high tides). It was unanimously approved by the Corps’ Civil Works Review Board in Washington; next step is for the Corps’ Chief of Engineers to sign off (expected in September) to present to Congress for funding this Fall. Total cost – about $509M. At 52′, CHS would offer the deepest harbor on the East Coast. The port is a huge component to the CHS economy, handling some $60B of cargo, including some 800-1000 BMWs each week coming from the Upstate, and Mercedes-Benz Sprinter vans and Volvo cars would be next.
According to a staff report from the Charleston Regional Business Journal, some modest renovations at the North Charleston terminal, totaling a little over $600k, will help the SC Ports Authority to build a 4th crane, some re-paving, electrical work, and demolishing some old rail tracks on the site.
On a related note, SPA handled 1.56M TEUs fiscal year-to-date, up 13.9% from the same period in 2014, and containers volume for April was up 12% from a year ago while the Inland Port in Greer in the Upstate had its highest-ever monthly rail moves.
The Port of CHS has grown 52% in the past six years, double that of other ports in the nation, thanks to new leadership at the ports and SC’s manufacturing boom, significant capital investments, and a new intermodal container transfer facility and an inland port in the Upstate. And the Southeast will be a good place to be in the port business. David Wren has the story for The Post and Courier.
The bottom line is East Coast ports are growing at a faster rate than their West Coast counterparts, according to CBRE Group, Inc.’s inaugural North American Ports Logistics Annual Report. The top 15 ports, ranked in terms of infrastructure and the strength of the local industrial real estate market:
- Los Angeles
- Long Beach
- New York/New Jersey
- Ft. Lauderdale (Everglades)
While the largest ports are the usual suspects, note that eight of the 15 are on the East Coast and six are in the Southeast.
Container volume was up a strong 7% at the five area port terminals. The article goes on to report, “Since 2010, the ports authority has captured nearly half of all container volume growth in the South Atlantic market through the addition of new customers and cargo from discretionary markets, inland-favorable freight and growth of bulk transload operations.” Liz Segrist of the Charleston Regional Business Journal has the report.
Big tires are big business in CHS. And more tires will be coming from the Upstate to be exported from the Port of CHS to Europe and South America. See the article from Tyrone Richardson of The Post and Courier. By the way, SC is the #1 exporter of tires in the nation, with nine manufacturing sites in the state.
Another article from The Post and Courier’s Tyrone Richardson on an update of the Port of CHS’ multiple projects, from harbor deepening to opening of the new port facility at the old Navy base and rail service to the port, all expected to be delivered in about 2018.