South Carolina Ports Authority president and CEO Jim Newsome highlighted key industry trends and the impacts of a growing port on the state's and region's economy in a speech Tuesday. The Port of Charleston is a top-10 US container port that grew 9 percent in FY2013, well above the US port market.
Newsome noted that the Southeast is a growing region for both consumption and manufacturing. This fact, combined with the deployment of new Panamax container ships to the US East Coast, requires top-10 container ports to invest in terminal facilities, harbor deepening and related road and rail logistics capabilities to maintain and enhance their competitiveness.
"The growth of exporting and the formation of mega-alliances that will feature the deployment of large container ships on the East Coast mean that deepened harbors are critical for supporting commerce in the Southeast region," Newsome said. "The Southeast needs a port of 50 feet or deeper to support this growth, and Charleston is well-positioned thanks to its post-45 foot deepening project."
Newsome cited two key terminal projects in his remarks. The building of a new container terminal at the former Navy Base in Charleston is essential, Newsome said, and is the only permitted new container terminal on the US East Coast. He discussed the joint venture terminal project in Jasper County as critical for future growth once the need for a deeper harbor is realized. Newsome also noted the need to restore Georgetown Harbor to its authorized depth of 27 feet.
"Ports are long-cycle businesses requiring great vision and planning," Newsome said. "Our port system is the major strategic asset for the state in the current era of global sourcing and manufacturing."