South Carolina Ports experienced a 1% year-over-year decrease in TEUs in October, but loaded exports increased by 18% year-over-year, making it the port's strongest month for loaded exports since June. SC Ports' inland ports also performed above plan, with Inland Port Dillon seeing a 176% increase in rail moves. Despite a decline in imports and vehicle volumes, SC Ports continues to benefit from new investments in the state by port-dependent businesses, such as First Solar, Inc.'s $330 million investment in a new facility in Gaffney, South Carolina.
South Carolina Ports President and CEO Micah Mallace has pledged to focus on strengthening the port's cargo base and prioritizing opportunities for immediate growth, rather than long-cycle infrastructure. The Port of Charleston has seen strong economic development wins, with ocean carriers showing confidence in its capabilities within the Southeast market. However, Mallace acknowledged that challenges persist, including a freight recession and volatility in the port market. Despite this, he is optimistic about the port's potential to engineer above-market growth and deliver non-traditional growth initiatives.
The South Carolina State Ports Authority has appointed Micah Mallace as its President and CEO. The appointment of Mallace was unanimously approved by the authority’s board of directors. Previously, he served as the Chief Commercial Officer of SC Ports and President of Harbor Logistics.
