South Carolina’s Ports set a record for shipping volume in 2022, handling more than 2.8 million TEUs in a single year! According to data from the U.S. Census Bureau, The Port of Charleston, is ranked the sixth largest seaport terminals in the United States, handling over $72bn worth of imports and exports. As one of the busiest ports in the world, The Port of Charleston plays a significant role for shippers large and small who depend on this valuable terminal to connect their products to global markets and consumers. This article calls attention to the Port of Charleston providing companies with information about its overall significance, and what the future holds for this crucial shipping terminal.
Brief Overview of the Port of Charleston
Since its founding in 1942, the Port of Charleston has played a crucial role in connecting domestic suppliers and consumers with global manufacturers and markets. More than 20 states depend on the Port of Charleston to access goods ranging from agricultural products, automobiles, heavy machinery, metals, chemicals and textiles. U.S. shippers and retailers use the port to export global commodities like paper, lumber, cotton, wheat, synthetic materials, frozen meats, fresh produce, technologies, plastics, and medical equipment. Drayage service providers handle the millions of containers that pass through the Port of Charleston each year. Most shippers who utilize the Port of Charleston partner with single source logistics companies to source capacity, handle the drayage service, and warehouse stocked items.
The Port of Charleston by the Numbers
Just how crucial is the Port of Charleston? Consider this: The shipping terminal supports 10% of all jobs in South Carolina, with those jobs accounting for a massive 32% of the state’s wages. Over 115,000 jobs are directly connected with supporting the shipping infrastructure, from longshoremen, dock workers, and regional logistics providers who handle all the port drayage and transloading services. In terms of overall economic impact, the Port of Charleston accounts for over $63 billion worth of revenue each year. Major U.S. manufacturers and global retailers like BMW, TTI, Dr. Pepper, Michelin, and Bosch depend on the Port of Charleston to export their products to global markets.
Economic Developments Encouraging Growth in the Port of Charleston
To help spur the economic development of South Carolina’s Ports, the South Carolina Department of Commerce has injected more than $10 billion in funding for modernizing projects planned for Port Charleston and Greer. This capital investment adds to the additional $2 billion in funding the Ports received from local manufacturers that are contributing into port infrastructure projects. Collectively, these investments will work to greatly expand harbor capacity, and connect a new CSX intermodal rail terminal and intermodal facility. As of this writing, there are over 120 new construction projects that have broken ground, adding 14,000 new jobs that are directly connected to the expansion of the Port of Charleston.
What Does the Future Hold for the Port of Charleston?
All of these economic developments involving the Port of Charleston point to its crucial role in connecting global trade for thousands of shippers and millions of consumers. Infrastructure improvements that are designed to increase container volume, improve shipping speeds, and expand the harbor’s water depth are signals that companies and port authorities envision the Port of Charleston taking on a larger role for the future of ocean shipping. In 2020, the South Carolina Council on Competitiveness reported that in 2016, logistics providers handled nearly 450 million tons of cargo across South Carolina, with that number expected to climb over 60% by 2040. As the Port of Charleston grows, shippers will have a larger demand to partner with single source logistics providers to help manage and offer solutions to connect manufacturers to their North American customers.
Port City Logistics has you Covered at the Port of Charleston
Each day, there are thousands of ocean shippers that depend on Port City Logistics to handle their containerized freight passing through the Port of Charleston. As a fully-integrated single source logistics provider, Port City Logistics offers their customers dedicated capacity year round using their own fleet of drivers, assets, equipment, and brick and mortar transload facilties. Since 2001, Port City Logistics has grown in importance alongside the Port of Charleston, making them the clear choice for ocean shippers who depend on the port each day. Contact an expert at Port City Logistics today!