PoH: Upward Trend Continues in Financial Results

Press Release
Friday, November 16, 2012

And More Good News: Partnership With Two Cruise Lines Announced



The Port of Houston Authority will partner with Princess Cruises and Norwegian Cruise Lines to offer new services from the Bayport Cruise Terminal, it was announced at the Nov. 15 Port Commission meeting. Princess Cruises will make passenger cruise calls during the 2013-2014 cruise season, while Norwegian Cruise Lines has committed to three years and will begin service in 2014. This will result in a $200 million economic impact to the communities within the greater Houston region over this four-year period.



In other good news, financial results for October continue an upward trend, Executive Director Len Waterworth said in his monthly financial report.

 

 

Waterworth reported that total tonnage at Port Authority facilities (excluding bulk cargo associated with leased locations) was up slightly at 6,000 tons or less than one-half percent for the month of October compared to last year, while year-to-date tonnage continues to show solid growth of 1.7 million tons or 8 percent. This growth has been fueled primarily by steel, which has increased by 1.2 million tons or 32 percent compared to last year.
 


October operating revenues were $18 million, up by 7 percent over last year. Year-to-date Port Authority revenues of $186 million reflect an increase of 9 percent over 2011, led by steel tonnage, dredge disposal fees and container revenues, and year-to-date operating expenses are down $2 million or 2 percent.
 


During the meeting, representatives from the Greater Houston Partnership, Greater Houston Port Bureau, Houston Area Urban League, Houston Citizens Chamber of Commerce and Houston East End Chamber of Commerce reported on their economic development and outreach efforts on behalf of the Port Authority and the region.
 


Among other staff reports, Government Relations Director Spencer Chambers provided an update to the Port Commission on the Sunset Advisory Commission review of the Port Authority. At its Nov. 13 hearing in Austin, the Sunset Commission adopted a final set of recommendations after making two modifications to its staff's recommendations released in August. The Sunset Commissions recommendations for statutory changes will be drafted into legislation that is expected to be considered by the Texas Legislature during its next regular session beginning in January 2013. Input from the public and other stakeholders is also expected to continue as well as other modifications and amendments as the legislative process moves forward.
 


John Moseley, General Manager, Trade Development, presented highlights of the department's achievements for 2012. Moseley said it was a good year, with revenues up and cargo volumes growing, the addition of six new carrier services calling Port Authority terminals, and an increase in customers. MoseIey also reported that in October, the Port Authority served as host of the Breakbulk Americas Conference for the second time in its history, an economic impact of $4.38 million and attendance increasing by 19 percent to 4,500.

 

 

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Puerto Rico Readies for Largest Cruise Ships

Thanks to a pier expansion and enhancement, Puerto Rico will welcome the two largest cruise ships in the world, Royal Caribbean International’s Oasis of the Seas and Allure of the Seas, in 2016.

Feds Delay LNG’s Port Ambrose Application

The US Coast Guard and the US Maritime Administration (MARAD) have temporarily suspended their review of the proposed Port Ambrose deep-water LNG import terminal.

Finance

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Puerto Rico Readies for Largest Cruise Ships

Thanks to a pier expansion and enhancement, Puerto Rico will welcome the two largest cruise ships in the world, Royal Caribbean International’s Oasis of the Seas and Allure of the Seas, in 2016.

Carnival Sails to Profit

The world's largest cruise company Miami-based Carnival Corp reported a net profit of $49 million, or 6 cents per share in the first quarter ended Feb. 28.   That

Container Ships

Mediterranean Rescue Operations Strain Shipping

The Wall Street Journal ran a story yesterday describing how the increasing number of seaborne migrants making the journey from Africa to Europe has not only

Hamburg Süd Christens Third San Class Ship

Hamburg Süd christened its third container vessel in the new San class yesterday, officially naming newbuild San Vicente at the Cuenca del Plata terminal in Montevideo.

Asia-Europe Box Rates Fall Almost 6 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 5.5 percent to $586 per 20-foot container (TEU) in the week ended on Friday,

News

Is China Building a Naval Base in Africa?

Recently, The Namibian reported the existence of a "confidential letter from Namibia's ambassador to China, Ringo Abed, to Namibia's foreign minister stating that

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Puerto Rico Readies for Largest Cruise Ships

Thanks to a pier expansion and enhancement, Puerto Rico will welcome the two largest cruise ships in the world, Royal Caribbean International’s Oasis of the Seas and Allure of the Seas, in 2016.

Government Update

Mexico Unveils National Strategy ahead of Paris Climate Talks

Mexico on Friday said it will cap its greenhouse gas emissions by 2026, becoming one of the first countries to formally submit its national climate plan the

Mediterranean Rescue Operations Strain Shipping

The Wall Street Journal ran a story yesterday describing how the increasing number of seaborne migrants making the journey from Africa to Europe has not only

Port of Aden Under Threat with Enemy at the Gates

As Saudi Arabia and its Arab allies stage air strikes against Shi'ite Muslim militiamen threatening to topple Yemeni President Abd-Rabbu Mansour Hadi, the southern

Logistics

Is China Building a Naval Base in Africa?

Recently, The Namibian reported the existence of a "confidential letter from Namibia's ambassador to China, Ringo Abed, to Namibia's foreign minister stating that

First Supramax Vessel for Japan-Italy Venture

'DACC Tirreno' was delivered at the Oshima shipyard in Japan yesterday, the first of four Supramax bulk carriers for the dACC Maritime Limited fleet, the joint

Feds Delay LNG’s Port Ambrose Application

The US Coast Guard and the US Maritime Administration (MARAD) have temporarily suspended their review of the proposed Port Ambrose deep-water LNG import terminal.

 
 
Maritime Careers / Shipboard Positions Naval Architecture Pipelines Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
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: 0.3921 sec (3 req/sec)