The S.C. State Ports Authority unanimously approved the sale of a 15-acre plot along the Cooper River for $3 million to an undisclosed light manufacturer. The board also approved plans to expand its refrigerated cargo facility by 92,000 square feet to increase its transload capacity.
By Liz Segrist
Published May 22, 2014
The S.C. State Ports Authority unanimously approved the sale of a 15-acre plot for $3 million to an undisclosed manufacturer today.
Ports Authority President and CEO Jim Newsome said the buyer of the property, called Parcel A, is a light manufacturing operation “that makes sense for this property.” Parcel A sits along the Cooper River near Kinder Morgan Inc. off Greenleaf Road in the Charleston Neck area.
During its monthly meeting today, the board also unanimously approved an expansion of its transload operations to increase its capacity to handle refrigerated cargo.
New Orleans Cold Storage will continue to operate the facility, as it has for nearly 30 years.
“We currently have a deficit of cold storage,” Newsome said. “It is vital to grow our refrigerated container business, and this will help meet our needs.”
The authority also unanimously approved the sale of less than 1 acre at 5 Trask Farm Road in Beaufort to an undisclosed buyer for $195,000.
The Port of Charleston handled roughly 1.37 million 20-foot equivalent units in fiscal 2014 year-to-date, from July through April. This is up 6% from the same time in 2013.
The ports authority’s operating revenues for fiscal 2014 were $132.43 million as of March 31, up 15% from fiscal 2013. Total expenses were $120.76 million for fiscal 2014, up 15.8% from the year prior. Operating earnings were down 6.8% at $11.67 million.
Break-bulk tonnage was up about 9.3%, at roughly 606,000 for fiscal 2014, the board reported. About 158,000 passengers came to port, up 6.7%, and 1,499 ships docked during the period ended March 31, down less than 1% from last year.
For April, pier container volumes, which track the number of boxes moved, were up 12.3% compared with April 2013, at about 86,000 containers. Pier container volumes were up 5.5% for fiscal year 2014 compared with the same time in 2013.
Reach staff writer Liz Segrist at 843-849-3119 or @lizsegrist on Twitter.