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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Cruise Ship Trends

FAL Engages Inland Marine Service for Marine Operations

French America Line, the newest U.S. cruise line that begins sailing five- to 10-day cruise itineraries aboard its intimate 75-stateroom flagship Louisiane in August,

Mumbai Port to Revamp Int'l Cruise Terminal

Indian Merchants’ Chamber provides a platform to urban developers to address various issues pertaining to the restructuring of Mumbai City Mumbai, May 23, 2016:

HUMMEL LNG Hybrid Barge Begins Second Season

For over one year the HUMMEL has been contributing to improved air quality at the port of Hamburg. Becker Marine Systems’ LNG Hybrid Barge will also be supplying

Ports

SOLAS Container Weight Requirements FAQ

With new rules regarding the declaration of the accurate gross mass of a packed containers due to enter force, the International Maritime Organization (IMO) answers

New Connections for France, Port of Rotterdam

With the launch of a new rail shuttle and inland shipping link, connections between Northern France and the port of Rotterdam are now better than ever. Five times a week,

Mobile Shiploader Delivered to Port Metro Vancouver

Multipurpose heavy lift operator AAL has completed a series of shipments to Port Metro Vancouver (PMV) of a mobile grain shiploader to be installed at the Port’s

Finance

STX Shipbuilding Likely to Enter Court-lead Restructuring

South Korean shipbuilder STX Offshore & Shipbuilding Co Ltd will likely need to enter court-supervised receivership due to financial difficulties, the firm's lead

Statoil Says Sees European Gas Prices Bottoming Out

Norway's Statoil does not expect European gas prices to fall much further as rising demand from the power generation sector would offset an expected increase in liquefied natural gas (LNG) supply,

Baltic Index Down on Lower Demand for Larger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday hurt by sluggish demand for large vessel sizes.

News

Guinean Sailors Arrested after Clash with Sierra Leone Navy

Sierra Leone was holding 11 Guineans including military personnel in custody on Wednesday following a confrontation at sea involving the two West African neighbours' navies,

Fleet Week Underway in New York

Parade of ships signals start of Fleet Week New York 2016   Now in its 28th year, New York Fleet Week has commenced, with ships from the U.S. Navy, U.S. Coast

Davie Begins First Resolve-Class AOR Conversion

Davie Shipbuilding has cut first steel for the Resolve Class Auxiliary Oiler Replenishment vessel.   The project consists of converting a containership into an

Government Update

Overcrowded Migrant Boat Flips, Five Dead

A large wooden fishing boat overcrowded with migrants capsized off the coast of Libya, the Italian navy said on Wednesday, with some 562 people rescued and five found dead.

CMA CGM Proceeds with NOL Takeover after China Okay

CMA CGM, the world's third-largest container shipping firm, is to go ahead with its planned acquisition of Singapore's Neptune Orient Lines (NOL) after receiving regulatory clearance from China,

Mount Whitney Makes History

USS Mount Whitney (LCC 20), the U.S. 6th Fleet flagship, made history today as the first amphibious command ship to have an MV-22B Osprey land on its flight deck, May 23, 2016.

Logistics

SOLAS Container Weight Requirements FAQ

With new rules regarding the declaration of the accurate gross mass of a packed containers due to enter force, the International Maritime Organization (IMO) answers

Baltic Index Down on Lower Demand for Larger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday hurt by sluggish demand for large vessel sizes.

Commodities Shipping Firms Struggle to Ride Out Worst Downturn

Shipping companies transporting coal, and iron ore and other commodities are urgently seeking ways to conserve cash and withstand the worst market downturn on record

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | 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: 0.1823 sec (5 req/sec)