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Houston: Cargo Tonnage at 15 Million Tons, Led by Container Growth, $20 Million Operating Revenue Is Highest In Port's History

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Cargo volume is growing at the Port of Houston Authority, driven by an upturn in container traffic, reports Executive Director Len Waterworth.

Mr. Waterworth also reports that May operating revenue was at an all-time high of $20 million, up 4.0 percent or $800,000. Year-to-date operating revenue of $96 million reflects a $4 million or 5.0 percent increase, largely attributable to container trade growth.

Cargo throughput at port authority facilities for May totaled 3 million tons, up 10 percent from May 2012. That boosted the year-to-date total to 15 million tons, an increase of 3.0 percent. Container cargo alone was up 9.0 percent year to 8.0 million tons.

Mr. Waterworth said steel dropped 21 percent in May, due primarily to declines in the drilling industry. Bulk cargo (including grains and coal) jumped 37 percent to 1.0 million tons, due in part to improved grain exports. Year to date, bulk cargo totaled 4 million tons, up 14 percent.

Year to date, the port authority has realized $21 million in net income, up $5 million, or 34 percent. Total cash flow of $44 million is up by $6 million, or 15 percent, so far this year. Net operating income is ahead of budget by $9 million, or 309 percent. 

"I am very pleased with the performance so far this year as we see market demand in the petrochemical industry increase," Mr. Waterworth said.
 

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