Recognition: Halifax, Philadelphia

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Halifax Port Authority Credit Rating Upgraded to ‘A ’ by Standard & Poor’s

Standard & Poor’s has upgraded the Halifax Port Authority’s credit rating to ‘A ’ from ‘A.’

The port authority operates from a diversified revenue base, generating strong and consistent cash flow. Since 2011, it has invested more than C$100 million in port facilities, including infrastructure upgrades at both container terminals and the nearly completed Richmond multi-purpose terminals project.

"We see this upgraded credit rating of ‘A ’ from Standard & Poor’s as confirmation of the strength of that cash flow," said Port Authority Senior Vice President Paul MacIsaac. "The Halifax Port Authority remains committed to working with our partners to increase cargo volumes moving through the Port of Halifax as we continue to enhance our cruise business and fully utilize our land holdings for the benefit of Nova Scotians and all Canadians."

Philadelphia Honored by Rail Logistics Organization for Service to Shippers

Photo/Philadelphia Regional Port Authority

The Railway Industrial Clearance Association (RICA) recently named the Port of Philadelphia the recipient of its "2014 RICA Most Improved Port Award for Customer Satisfaction." The plaque presented to the Philadelphia Regional Port Authority (PRPA) lauds the port "for providing the most improved service to dimensional shippers."

With more than 400 members, RICA represents all aspects of logistics related to the movement of heavy and dimensional cargo via rail, including Class 1 railroads, shippers, regional and short line railroads, riggers, port authorities, expeditors, heavy haul motor carriers, barge and steamship lines, and consultants.

Philadelphia is served by two Class 1 railroads, CSX and Norfolk Southern. Turbines, factory parts, windmill components, and heat exchangers (many manufactured in Pennsylvania by Air Products, Inc.) are examples of project and over-dimension cargoes handled at the port.

Port Authority Chairman Charles G. Kopp responded by saying: "PRPA works on a continuous basis with our terminal operators to improve and enhance access to our marine terminals, especially in the area of rail access. On top of that, we’re always mindful of the special needs of our over-dimension and project cargoes, which frequently move via rail. Seeing the attention to detail by PRPA employees and those who work for our terminal operators, I am delighted but not surprised that an organization like the Rail Industrial Clearance Association noticed us."