From July through June, the SCPA posted operating revenues of $164.1 million, an increase of nearly 17 percent over the previous fiscal year. FY2014 expenses totaled $149.9 million.

 “With the Port’s aggressive capital plan for the next several years, a solid financial performance is essential,” said SCPA Board Chairman Bill Stern. “The strong 2014 fiscal year revenues reported today reflect that the SCPA remains focused on the growth necessary for these important projects.”

 Last month the SCPA announced 8 percent container growth for the fiscal year, handling 1.7 million twenty-foot equivalent units (TEUs) for an increase of 2 percent over plan. These results follow 9 percent increases the previous fiscal year and continue the SCPA’s growth trend of more than double the market average.

 “The last quarter of the 2014 fiscal year was the strongest the SCPA has seen in seven years,” said SCPA president and CEO Jim Newsome. “With an 8 percent container volume increase and operating cash flow well above plan, we are well-positioned to continue moving forward with key strategic projects and continued above-market growth.”

 The SCPA’s rail drayage program saw expanded participation by all major shipping lines in FY2014, demonstrating Charleston’s capabilities as a rail-competitive port. Rail dray volume increased 136 percent over the previous fiscal year.

 FY2014 was also marked by 17 percent growth of the SCPA’s refrigerated cargo segment. The Charleston area’s cold storage capacity is on the rise, with three cold storage companies recently announcing plans to construct or grow existing facilities to support expansion of this market.

 Looking ahead, major initiatives for the SCPA this fiscal year include continued work on harbor deepening, with the draft Environmental Impact Statement scheduled to be released this fall; construction on the Wando Welch Terminal wharf refurbishment project to begin in April 2015; and efforts to restructure container contracts and refine capital planning.

 July Volumes

Volumes first month of the new fiscal year were positive, with pier containers up nearly 14 percent over July 2013.

As measured in twenty-foot equivalent units (TEUs), July volumes exceeded plan by 11 percent. The SCPA handled 153,916 TEUs during the month, a 13 percent increase over 138,601 TEUs seen in July 2013. Calendar year to date TEU volume reached 1,026,372 last month, up 11 percent from the same period last year.

July breakbulk cargo volumes also saw increases over 2013 levels. Charleston moved 55,485 pier tons, an increase of 8 percent over last July, and monthly volumes were also up 19 percent in Georgetown, with 71,135 pier tons moved.  

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Revenue increased 6%, representing the growth in volume and tariff increases in port activities, partly offset by a decrease in Inland Services due to divestment of activities in North America and Asia. The EBITDA margin improved to 23.0% (20.4%) supported to a large extent by the increase in volume and increased tariffs.

The invested capital increased to USD 6.4bn (USD 5.6bn) reflecting the continued high investment level in APM Terminals, developing 7 terminals and expansions in 16 terminals.

Operational cash flow was negatively impacted by VAT receivables accumulating in connection with construction activities, primarily in Latin America.

“APM Terminals had a good performance in the second quarter and in the first half of 2014. The rise in our first half results came despite challenging conditions,” said Kim Fejfer, APM Terminals CEO. “It is crucial for our Global Terminal Network to provide stable operations and constantly improve our efficiency and portfolio offerings to our customers. This November, we are excited to introduce the world’s first fully automated container terminal which produces zero emissions from container handling equipment, launching a new era in container handling productivity and safety.”

Using tried and tested technologies that centre on the proven Ikusi brand, the agreement extends to a three-model range of radio remote controls that is proven in terms of its reliability and robustness when being operated in any kind of internal or external lifting environment. Ergonomically designed, the range takes in two slim line handheld units – the 8000 500 and 8000 520 – and the top-of-the-range ‘belly’ Ikoncontrol 3 system.

Commenting on this latest development, Pat Campbell, Konecranes’ Director of Market Area – West Europe, said: “Radio remote controls are fast becoming the norm in the lifting world, largely due to the fact that not only do they provide greater operating flexibility, they are much safer for the operator to use as they do not have to enter the area where an overhead crane or hoist is working. Furthermore, as it is the younger age that we are now seeing coming through, it is console technology that they are very comfortable with. If you combine this with the fact that radio remote controls are only set to deliver increased functionality, it is vitally important that Konecranes works closely with a leader is this field – in this instance Ikusi.”

The three model range that Konecranes will be now be deploying stand as a co-branded product offering that is not only quick and easy to operate but robust and flexible in terms of its operating characteristics. Each unit has already proved itself in the field and are already being used by an increasing number of Konecranes customers.