Statistics: Milwaukee, Virginia

Port of Milwaukee Revenue/Expenses
	2014	2013	Change
Operating Revenues	$4,558,103	$4,370,586	4.3%
Operating Expenses	$3,044,775	$2,937,975	3.6%
Net Income	$1,513,328	$1,432,611	5.6%
Excludes depreciation, debt service and interest expense and rental income for Summerfest operations on port property. Source: Port of Milwaukee

The $1.5 million in net income does not include rent amounting to more than $1.3 paid by Milwaukee World Festivals for its Summerfest operations on port property. Also excluded are depreciation, debt service and interest expenses.

The port says a 50 percent jump in steel cargo was a significant factor in its strong financial performance. Some commodity volumes declined, especially coal. Overall, more than 2.5 million metric tons of cargo moved through the Port of Milwaukee last year, down 2 percent from 2013.

"Hard work and careful planning by both the staff and tenants contributed to 2014’s achievements," said Acting Port Director Paul Vornholt. He sees 2015 "shaping up to be another strong year for operations at the Port of Milwaukee."

The 467-acre port is managed as an economic entity of city government and governed by a seven-member board of harbor commissioners appointed by the mayor and confirmed by the Common Council.

Virginia: Container Traffic Set a Monthly Record in March

The Port of Virginia reports container volumes through its facilities jumped 16 percent in March to a new month high of 229,410 TEUs. The upsurge, said Port Authority CEO John Reinhart, created "a challenge to our team at every phase of the operation," especially at "Virginia International Gateway, where our operational consistency was overtaken by sheer TEU volume: our delivery of service at the VIG gate for the first three weeks of March was unacceptable."

The port operations team worked to restore operational tempo with steps to reduce density in the stacks, a temporary embargo on empty containers arriving by rail, the addition of more cargo handling equipment and extended operating hours at the gates.

"Our truck volumes did not let up any in March; we processed more than 81,400 truck moves despite the challenges," Mr. Reinhart said. "We understand the hardship this period put on our motor carriers and customers and we are grateful for their patience through what has been a very difficult period."

As indicated in the attachment, the March data show increases from a year ago of 17 percent for truck moves, 17 percent for rail containers, 3 percent in Virginia Inland Port containers, and 148 percent in vehicle units. Container TEU volume for January-March was up 10 percent compared to the first three months of 2014.

"We are not expecting volumes to abate, so we will carry forward many of the steps we implemented in March to help alleviate the congestion," said Mr. Reinhart. "We are continuing to invest in equipment, technology and people to create sustainability and improve the consistency in the port."