The Global Importance of The Port of Charleston
March 6, 2012: William Dunavant III, CEO of privately held Dunavant Enterprises, of Memphis, TN spoke at the Rotary luncheon on Tuesday.
Dunavant is 3rd generation of the Dunavant family to run the mega Cotton trading company. Dunavant Enterprise became the first company to sale U.S. grown cotton to China; making it the largest international cotton trader in the world. Before selling the cotton division to Australia in 2010 the company was trading over $1.2 to $1.7 billion bales of cotton domestically and internationally annually.
Today, Dunavant Enterprise is still a leader in the shipping world, now mainly focusing on logistics and international exports on the East Coast. The company now consists of 4 Division: logistics, distribution, freight, and consulting.
Dunavant stated the factors that made his company so successful were honesty, integrity, and having the know-how. He said that it is time for Americans to bring business back to the United States. Right now, China is our largest competitor. They are out pacing the U.S. in education and they are getting the job done faster.
He emphasized that by deepening the shipping channel at the Port of Charleston to accommodate larger ships our state will be well positioned to compete. Finally Dunavant stated, “It sounds to me like you all are doing it right, and have a plan to get it done.”
Submitted by Katie McCravy, Keyway Committee