Monthly operating revenue exceeded $20 million again in July 2013. The achievement was high on a list of positives that Executive Director Len Waterworth shared in his report to the Port Commission of the Port of Houston Authority at its recent monthly meeting. Dredging projects have also been put in hand.
The Port Authority generated $21 million in July operating revenue, surpassing July 2012's performance by $1.4 million or 7 percent.
Year-to-date operating revenue of $135 million increased 4 percent, or $6 million. The Port Authority first exceeded $20 million earlier this year.
Waterworth also reported that July's net income of $4 million exceeded last year's by $1 million or 47 percent. Year-to-date net revenue of $25 million is up 11 percent. Also, July total tonnage of 3 million reflects a 4-percent increase over prior year and the year-to-date total of 21 million tons is up 3 percent. Principal drivers were a 21-percent increase in bulk exports for the month; an 8 percent increase in container tonnage for the year and a 17-percent increase in bulk commodities.
Port Commissioners also approved the immediate funding of an additional $100,000 for the U.S. Army Corps of Engineers (Corps) for economic study and analysis. That study will focus on the feasibility of the federal government taking responsibility for the maintenance of its federal channels alongside the berths at Bayport and Barbours Cut container terminals.
The Port Authority has committed to self-fund the estimated $150 million it will cost to dredge those channels to 45 feet, matching the
depth of the Houston Ship Channel. By doing so, the expectation is that the federal government will pay for ongoing maintenance.