Big Increase in Port of Houston Steel Cargoes

By George Backwell
Wednesday, August 27, 2014
Houston Ship Channel: File photo

More steel moved across the docks in July than any month since 2008, Executive Director Roger Guenther reported at the recent meeting of the Port Commission of the Port of Houston Authority.

Guenther also noted that PHA has achieved a record, with operating revenues in July 2014 of more than $24 million.

Steel and bulk cargo support a solid 5 percent growth in tonnage, he said. More than 22 million tons of cargo moved across Port Authority docks during the first seven months. The month of July also recorded
the highest tonnage in steel since 2008, 844,000 tons. Container volume was relatively flat compared to last year, but has seen a 4-percent increase in the number of loaded boxes year to date. This was offset by a reduced number of empty containers being imported through PHA terminals due to an increase in loaded imports.

Combining the strength in revenues and controlled spending, PHA has generated more than $65 million in operating cash flow for the year, a growth of 5 percent, Guenther reported. Following the first two quarters of 2014, PHA has prepared a reforecast budget for the remainder of the year, reflecting a $5.8 million increase in annual operating revenue, a decrease of $2.1 million in annual operating expense, and a reduction in G&A expense of $1.9 million, which results in a revised 10-percent increase in reforecast cash flow for the year, topping $100 million.

"This revenue generated will be reinvested in the infrastructure assets needed to increase capacity and provide for increased economic activity and job growth for the region," Guenther said.

www.portofhouston.com

Maritime Today


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

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

People & Company News

Hanjin Shipping May Get OK for Restructuring

South Korea’s largest container operator by capacity Hanjin Shipping's creditors are expected to approve a corporate rehabilitation program for the struggling container line,

Allcargo Groups Subsidiaries as ECU Worldwide

ECU Line, Econocaribe and China Consolidators undergoes rebranding to build a Global Brand Connect   India’s integrated logistics solution provider Allcargo Logistics

Damen Opens US Office

Damen Shipyards Group has announced the opening of a new branch office in Houston, Texas. This expansion, under the name of Damen North America, meets the increasing

Contracts

French PM: Aussie Subs to be built in Australia

French Prime Minister Manuel Valls said on Monday he was committed to building all of a new Australian submarine fleet in Australia, apparently contradicting the

Asia-N.Europe Box Rates Jump 170 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 170 percent to $732 per 20-foot container (TEU) in the week ended on Friday,

NAT Acquires Four 150,000dwt Tankers

Nordic American Tankers Limited ("NAT" or the "Company") announced today that it has entered into an agreement to acquire four existing Suezmax sister vessels built in Japan at a world-class shipyard.

Ports

Hueneme Port Expands Ship Pollution Reduction Program

The Port of Hueneme launched the second phase of its Grid-Connected Shore Power System, celebrating another next step forward in reducing air emissions and minimizing environmental impact.

India Seeks Stake in Iran LNG Terminal

Indian Petroleum Minister Minister Dharmendra Pradhan says India has expressed interest in setting up an LNG terminal at Chahabar port in Iran to ship back home natural gas from Persian Gulf nation,

Northwest Seaport Alliance Joins Green Marine

The Northwest Seaport Alliance has signed on to participate in Green Marine, North America’s largest voluntary environmental certification program for the maritime industry.

Finance

Crowley Acquires Ace Fuels Assets in Anchorage

Anchorage-based Crowley Fuels yesterday completed an asset acquisition of the aviation fuels business of Ace Fuels, LLC, a fixed base operator (FBO) headquartered

BAE Systems Bags USN Award for Submarine Propulsors

BAE Systems has received a $72 million contract from the U.S. Navy to produce and deliver propulsor systems for Block IV Virginia-class (SSN 774) submarines. The

India Seeks Stake in Iran LNG Terminal

Indian Petroleum Minister Minister Dharmendra Pradhan says India has expressed interest in setting up an LNG terminal at Chahabar port in Iran to ship back home natural gas from Persian Gulf nation,

Logistics

A Look Back At The Tanker Market

The fall in the oil price after the summer of 2014, coupled with the decision by OPEC to keep oil production at elevated levels has combined to support an improved tanker market,

Allcargo Groups Subsidiaries as ECU Worldwide

ECU Line, Econocaribe and China Consolidators undergoes rebranding to build a Global Brand Connect   India’s integrated logistics solution provider Allcargo Logistics

Abu Dhabi Ports Reports Q1 Volume Surge

Abu Dhabi’s RoRo volumes up 31 percent; general and bulk cargo increases 13 percent; container cargo edges up 5 percent   Abu Dhabi Ports, the master developer,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Sonar 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: 0.1245 sec (8 req/sec)