SOUTH CAR SOUTH CAROLINA PORTS AUTHORITY OLINA PORTS AUTHORITY HOUSE WAYS AND MEANS ECONOMIC DEVELOPMENT AND NATURAL RESOURCES SUBCOMMITTEE JANUARY 15, 2020
SC PORTS AUTHORITY SC PORTS AUTHORITY VISION VISION & VA & VALUES LUES TO BE THE PREFERRED PORT OF THE TOP 10 U.S. CONTAINER PORTS 2
CHARLESTON HARBOR 3
SC PORTS OVERVIEW SC PORTS OVERVIEW 2019 2019 ▪ Best Performing Port on All Standard Industry FASTEST GROWING FASTEST GROWING Metrics: TOP 10 US TOP 10 US - 45 Minute Gate Turn Times Including Queue - 35 Moves per Hour Crane Productivity - 100 Moves per Hour Berth Productivity CONTAINER PORT CONTAINER PORT - Lowest Total Cost (stevedoring/terminal/assessments) ▪ Wando Terminal Densification Leading to 2.4 million TEU Capacity by End 2020 2009-2019 2009 2019 ▪ 52 Foot Harbor Deepening Fully Funded and Contract 3 Executed - Wando Turning Basin to 1,650 Feet by End 2019 ▪ Phase 1 of Leatherman Terminal Opening 8% 8% March, 2021 ▪ Significant Push into Retail Distribution and Export Resin Transloading = Cargo Base CAGR CAGR ▪ Robust and Effective Inland Port Development and Increasing Rail Volume - 24% Intermodal Container Rail 4
TOP 10 U.S. CONTAINER PORTS ESTIMATED CONTAINER VOLUME TEUS IN MILLIONS Top 10 Ports are 82% of US Port Volume 9.3 LOS ANGELES 6.7 7.6 NEW YORK/NEW JERSEY 4.6 7.6 LONG BEACH 4.9 4.6 SAVANNAH 2.4 CY2019 3.8 NWSA (SEA-TAC) 3.1 CY2009 3.0 HOUSTON 1.8 3.0 NORFOLK 1.7 2.5 OAKLAND 2.1 2.4 CHARLESTON 1.2 1.3 JACKSONVILLE 0.8 0 2 4 6 8 10 5
TOP 10 U.S. CONTAINER PORTS ESTIMATED CONTAINER VOLUME CY2009-CY2019 GROWTH CHARLESTON 7.5% SAVANNAH 7.0% JACKSONVILLE 5.7% NORFOLK 5.5% HOUSTON 5.3% NEW YORK/NEW JERSEY 5.1% LONG BEACH 4.4% LOS ANGELES 3.3% OAKLAND 2.0% NWSA (SEA-TAC) 2.0% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% CAGR 2009-2019 6
INTERESTING FACTS ABOUT THE SCPA Balance Sheet $2.3 Billion Debt $1.4 Billion Revenue $288 Million Operating Income $36 Million 1.4 Million Containers/ Volume (Containers / TEU) 2.4 Million TEU Percentage by Intermodal Rail 24% Truck Transactions per Day (Containers) 8,000 Transactions Exported Vehicles (BMW / Volvo) 195,000 Vehicles Staff 731 Employees *The Balance Sheet & Debt reflect updates post Series-2019 Bond issue (10-2-19) & all other stats reflect FY2019. 7
OVERVIEW OF SC PORTS Top 10 U.S. Container Port State Owned and Operated = Low Cost / High Performance Best Model Robust Deepest Infrastructure USEC Harbor Seamless Handling of Multiple 14,000 Strong Rail Planned at 52 Feet by TEU Ships Performance Through 2035 2021 Growing Export Focus Jasper Ocean Terminal with GPA = Cargo Base = on After 2035 Retail Focus Transloading 8
FY2019 – FY2020 ACCOMPLISHMENTS Superstructure Phase 1 of Tideworks Implementation Record Volumes Leatherman Terminal in by Beginning of 2020 Progress Wando Wharf Inland Port Greer Handling 18 of 25 Weekly Ship Refurbishment Completed Record Volumes Services Neo Panamax Wando Densification / Maintained Strong Credit Inland Port Dillon Off to a Ratings - Moody’s and Enhancement Well Great Start Underway S&P Issued Revenue Bonds 3 of 5 Harbor Deepening New Chassis Yard with $547 Million in Contracts Underway Completed and Open Proceeds 9
WANDO TERMINAL BY END OF 2020 ▪ $450 Million investment in enhancement ▪ 2.4 Million-TEU capacity ▪ 3 Neo-Panamax berths ▪ Different gate hours began July 2019 ▪ 2 nd busiest container terminal on USEC ▪ 15 STS Cranes at 155 feet in lift height ▪ 65 RTGs and 30 empty handlers ▪ 42 gates ▪ 35-acre chassis yard 10
HUGH K. LEATHERMAN, SR HUGH K. LEATHERMAN, SR. TERMINAL . TERMINAL PHASE ONE 2021 2021 $ 9 8 5 . 8 MI L L I O N Image by Holy City Helicopters – September 30, 2019 700,000 TEU CAPACITY 11
HUGH K. LEATHERMAN, SR HUGH K. LEATHERMAN, SR. TERMINAL . TERMINAL PHASE THREE PHASE TWO 2032 2032 2026 2026 $ 3 8 5 . 4 MI L L I O N $ 4 2 6 . 0 MI L L I ON 2,400,000 TEU CAPACITY 1,500,000 TEU CAPACITY 12
Image by US Army Corps of Engineers T H E D E E P E S T H A R B O R O N T H E U . S . E A S T C O A S T 52 feet / 15.8 meters $550 Million Project Funding Secured Construction of Entrance Channel Underway Lower Harbor to Wando Terminal Contract Awarded in August Deepening to Wando and Leatherman Terminals Completed by 2021 13
V A R I O U S R A I L I N I T I A T I V E S U N D E R W A Y T O S U P P O R T I N T E R M O D A L R A I L G R O W T H ▪ Optimizing Operations of Local Rail Ramps ▪ Operate New ICTF ▪ Midwest Routing via Charleston ▪ Focus on More Competitive Rail Rates via Charleston ▪ Continue to Grow Inland Ports 14
CONTAINER BAR CONTAINER BARGE GE OPERATION S OPERATION SUMMARY UMMARY • Cost-effective movement of cargo • Reduce the number of truck movements • Reduced vehicle miles travelled • Reduced potential for crashes • Reduced emission of pollutants • Protect against increase in truck transport costs and delay due to • Current national truck driver shortage • Insufficient recruitment of drivers
CAPITAL INVESTMENTS FY2016 - FY2022 $500 Existing Facility Improvements $446 New Terminal Development $450 $400 $174 $336 $350 $300 $87 $250 $214 $204 $200 $181 $97 $150 $80 $273 $114 $135 $110 $249 $100 $57 $73 $117 $50 $101 $68 $57 $37 $ FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2020-FY2022 Projected 16
NOW THAT INFRASTRUCTURE IS WELL PLANNED, S C P O R T S A U T H O R I T Y W I L L F O C U S O N 3 R s G O I N G F O R W A R D Retail Real Estate Railroads Idea being to support port-dependent import distribution and expand the port’s reach via intermodal container rail. 17
A new option for rail-served export transload in the Charleston market. Ridgeville Industrial Campus • SCPA-owned big box site • 950 Acres • Max building size 2.5 million square feet • Near I-26 and I-95 • Certified site • NS Rail adjacent • Camp Hall Outstanding location for an export transload operation. 18
JASPER OCEAN TERMINAL • $5 million non-recurring request for the Jasper Ocean Terminal Port Facility Infrastructure Fund 19
THANK YOU 20
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