Port of Houston: Steel Imports Plummet

Tuesday, April 23, 2002
The Port of Houston Authority posted its slowest start in operating revenues since 1999 during the first three months of 2002. Operating revenues through March 31, 2002, decreased slightly to $25.3 million from $25.5 million in the same period in 2001. Operating income for the year was $4.1 million compared to $5.1 million in the first three months of 2001. Compared with the first three months of 2001, steel imports dropped 10 percent in reaction to new steel import restrictions imposed in March. "The decrease in import steel has had a negative effect on Port revenues," said Port Authority Chairman James T. Edmonds. "However, business trends for the Port continue to be strong with growth in container cargo, grain shipments and bulk handling materials." Steel imports have been affected by new trade regulations, including U.S. tariff increases of up to 30 percent imposed on a range of steel imports. As a result, steel imports at the Port of Houston fell 82 percent in March from the prior month and were off 10 percent for the three-month period. Automobile imports totaled 15,957 units for the three-month period compared with 17,967 units the corresponding period in 2001, a decrease of 11 percent. The Port's total container volume in the first quarter of 2002 increased 5 percent to 273,256 TEUs (twenty-foot-equivalent units) from 259,423 TEUs in the year-ago period. Overall container shipping grew to nearly 2.5 million tons, an approximately 5.5 percent increase over the same period of 2001. In the first three months, bulk grain shipments increased 54 percent on movement of approximately 653,000 tons through the Port of Houston Authority's facilities, compared to approximately 424,000 tons during the same period in 2001. In addition, tonnage at the Bulk Materials Handling Plant increased 39 percent to 1.1 million tons, compared with approximately 780,000 tons handled in first quarter 2001. Exported bagged cargoes totaled 77,999 tons for the first three months of 2002 compared to 75,365 tons for 2001, an increase of 3 percent. Barbours Cut Terminal handled 2.2 million tons in the first quarter, an increase of 6 percent from the 2.1 million tons handled in the first quarter of 2001.
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Sea Star Continues Puerto Rico Investments

Sea Star Line, LLC has entered an agreement to on-hire another barge to add to its current service package for shipments from Jacksonville to Puerto Rico.   The

Rand Logistics Announces Debt Refinancing

Rand Logistics, Inc. announced today that it has closed a $170.0 million revolving loan facility which refinanced approximately $102.0 million of the company's

Rotterdam Gate LNG Terminal Expansion Started

Dutch gas network operator Gasunie and tank storage service provider Vopak said on Monday that the expansion of their Gate liquefied natural gas (LNG) terminal in Rotterdam has begun.

Navy

US Navy: Future USS John Finn (DDG 113) Launched

The future USS John Finn (DDG 113) was launched at the Huntington Ingalls Industries (HII) shipyard March 28.  During launch the drydock was flooded allowing the

NYC Ferries: Gladding-Hearn Building Three New Vessels

Gladding-Hearn Shipbuilding, Duclos Corporation, has begun construction of the first of three new sightseeing vessels for Circle Line Sightseeing Cruises, Inc., in New York City.

Warships Shell Houthis Outside Yemeni City of Aden

Warships shelled a column of Houthi fighters and troops loyal to former president Ali Abdullah Saleh as they tried to advance on the southern port city of Aden on Monday,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1358 sec (7 req/sec)