Charleston, Georgetown cargo up, earnings down

CHARLESTON, S.C. (AP) — Cargo moving through the ports in Charleston and Georgetown increased in the first quarter of the year compared to last, but earnings are below what had been anticipated.

The Post and Courier of Charleston reported Wednesday that the State Ports Authority said cargo not shipped in containers increased nearly 80 percent in Charleston and almost fourfold in Georgetown in the first quarter of the year that began July 1.

Container volume was nearly flat in Charleston.

The Ports Authority says revenues were higher than last year, but earnings were down sharply by more than 27 percent. Earnings came in at nearly $4.4 million, slightly less than expected.

The lower earnings were caused by changes in expenses in gate operations at port terminals.

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Information from: The Post and Courier, http://www.postandcourier.com