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Rail News: Intermodal
South Carolina ports log higher volume, earnings in FY2016
The South Carolina Ports Authority (SCPA) this week reported $211 million in revenue, $39 million in operating earnings and $172 million in operating expenses for its full fiscal-year 2016.
The port's financial results for the year ending June 30 were "solid," and reflected the authority's commitment to achieve a performance level that supports its aggressive capital investment plan, said SCPA Chairman Pat McKinney in a press release.
In FY2016, SCPA handled a container volume of 1.9 million twenty-foot equivalent units (TEU), a 1.4 percent increase over FY2015.
"With modest container volume growth in spite of a tepid world economy and operating earnings up over last year, SCPA is well-positioned to continue moving forward with key strategic projects and above-market growth," said SCPA President and Chief Executive Officer Jim Newsome.
The SCPA started FY2017 strong, with a 1.2 percent increase in TEU volume compared with the same month last year. The port handled 177,265 TEU in July, compared with 175,223 TEU in July 2015.
Contact Progressive Railroading editorial staff.