Houston Port Commission Approves $225 Million 2013 Operating Budget

The Port Commission of the Port of Houston Authority approved the port authority's 2013 operating budget at a special meeting on Feb. 26. The budget reflects a trend of growth in operating revenue, net income and cash flow, allowing for continued reinvestment to maintain job creation and economic development for the region.

With forecast growth in 2013 of 3 percent for container traffic and a 10 percent for auto cargo, the port authority foresees operating revenue this year of $225.6 million, net operating income of $15.9 million and net income of $34 million. The 2012 operating revenue forecast was $214.8 million.

Reporting on January results, Executive Director Len Waterworth said that total tonnage at port authority facilities (excluding bulk cargo associated with leased locations) was down 11 percent from January 2012.

"Steel decreased 181,000 tons, or 38 percent, which reflected a slowdown in drilling activity from the prior year, a trend we expect to continue in the first half of this year," he said.

January operating revenues were $21 million, up 26 percent from last year, thanks to growth in container movements. A 3 percent increase in operating expenses reflected additional labor necessitated by the higher level of container traffic.

Mr. Waterworth reported January net income of $5.5 million, a $3.4 million improvement from January 2012.

American Association of Port Authorities
Asociación Americana de Autoridades Portuarias
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