Dredging Included in Redwood City Port 2014-2015 Budget

The Redwood City Port Commission has approved its fiscal year 2014-2015 budget, projecting operating revenues at $6,627,720 and operating expenses at $4,281,890.

Operating income of $2.3 million is offset by $660,000 in net non-operating expenses, primarily due to the interest expense on the Port’s 1999 and 2012 revenue bonds. Subvention of $398,000 to the City of Redwood City is included in the budget, resulting in a projected net income after subvention of $1.3 million.

The FY15 Budget includes $2.9 million for capital projects. The major projects are “F” dock Marina dredging at an estimated cost of $600,000 and public access improvements between the Seaport Conference Center and the fishing pier estimated at a cost of $500,000. There will be another installment for the Port’s cost share of the U.S. Army Corps of Engineers Channel Deepening and Improvement Study of $800,000.

Port Executive Director Michael J. Giari said that the FY15 budget is based on an estimated 1,713,000 metric tons of cargo, an increase over the FY13 actual tonnage and FY14 tonnage forecast. The tonnage is primarily composed of construction sand and aggregates imported from Canada and recycled scrap metal exported to Asia.

Port Commission Chair Lorianna Kastrop said: “The growth in tonnage and revenue at the Port will enable us to complete improvements to the waterfront public access areas and guest berthing for recreational and excursion boats. These improvements, estimated to cost approximately $1 million, will increase the use and enjoyment of the community’s waterfront.

Press Release, June 26, 2014

 

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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