The South Carolina Port Authority celebrated the largest container ship ever to visit the East Coast of the U.S. in September. The port has continued to invest in expanding its services, bringing more benefits to the Charleston, SC area and its businesses.
Massive Ship Welcomed at South Carolina Port
On September 21, the South Carolina Port Authority welcomed the arrival of the CMA CGM Brazil, a massive 1,200-foot long cargo ship carrying 15,072 containers. The ship had been making its way down the East Coast of the U.S. and stopped in Charleston, the deepest port on its schedule, last.
This unique ship is operated by the CMA CGM Group, which is a global leader in logistics in shipping. The organization employs over 12,000 people in the U.S., serves 19 U.S. ports, and is number one in this country when it comes to combined import/export market share.
Charleston’s port was considered uniquely able to handle this historic docking thanks to its wide channels and deep harbor. The event was significant for the port as a way to showcase its ability to handle larger cargo ships and be competitive on a global scale.
Big Opportunities for Area Stem from the Port of Charleston
The Port of Charleston is now ranked as the number eight-port in the nation by cargo volume, with more than $75 billion in annual imports and exports traded across its docks. In fiscal year 2020, the port handled 2.3 million twenty-foot equivalent container units (TEUs).
The port currently consists of five public terminals and a number of privately owned and operated facilities that handle bulk commodities like steel, coal, and petroleum.
SC Ports have invested $2 billion in infrastructure to expand the capacity of its ports. One of the benefits of this investment is that the ports can now handle bigger ships and more cargo.
The Charleston Harbor Deepening Project is on schedule for 2021 to achieve a depth of 52 feet for the port, making it the deepest on the East Coast and giving the port the ability to handle bigger ships without tidal restrictions. Coming soon, the port will be able to accommodate multiple 14,000-TEU vessels at once as well as a 19,000-TEU vessel.
SC Ports deliver $63.4 billion in economic impact to the region, and the port is responsible for generating one in ten South Carolina jobs. According to a recent study, businesses relying directly on the port for their operations, such as BMW, account for close to $41 billion in economic activity annually.
As opportunities in Charleston continue to expand, Caldwell Commercial is here to serve the changing needs of your business. We offer leasing & sales, property management, owner representation, and development services to clients throughout the area. Contact us today to learn more about how we can help turn your vision into reality.
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