S.C. Ports Volume Rises 17% in October
Container volume at South Carolina ports increased 17% in October from the same month last year, according to the state’s port authority.
The South Carolina Ports Authority handled 164,672 20-foot equivalent units last month and said volume since July has increased 14%.
“While we are pleased with the strong levels of growth, we expect this growth to moderate in the last two months of the year and into next year,” SCPA President Jim Newsome said in a statement.
“We do believe that the South Atlantic port market will continue to outperform the U.S. port market due to strength in manufacturing along with overall regional growth,” he added.
The port authority also said it approved an offer from Furman Company Investment Advisory Services to purchase the Port of Port Royal for $15.42 million.
The deal requires approval from the South Carolina Budget and Control Board. Pending approval, SCPA said it will issue a contract to Furman and a formal inspection period will start.
“The SCPA is pleased to move forward with the presentation of the offer to the Budget and Control Board,” SCPA Chairman Bill Stern said in a statement. “We remain committed to selling the Port of Port Royal for the benefit of both the town and ports authority.”
