Another Excellent Year for Port of Houston
- Business & Finance
According to Executive Director Roger Guenther, the Port of Houston Authority had a tremendous year in 2014, setting records for both steel and container cargo.
“The unified and collective effort of all of our stakeholders is the key to what continues to make the Port of Houston a great economic engine for not only our region, but for the state of Texas and the nation,” Guenther said. “Cargo volumes continue to be strong as we begin a new year and new century for the Houston Ship Channel.”
The strong showing in 2014 resulted in solid financial results for the Port Authority, with $261 million in operating revenue, $39 million in net operating income and $116 million in cash flow.
“These healthy results are vital to our continued success as we prepare for even greater growth and prosperity in the future,” Guenther said.
Plans call for a significant capital investment plan during the next five years that will include new and redevelopment projects totaling in excess of $1 billion.
Among 2014 highlights Guenther cited Tuesday was the beginning of the deepening and widening of the Barbours Cut and Bayport channels, an $80 million project that is funded by the Port Authority.
He also recognized high productivity levels for Port Authority cranes, with more than 99 percent reliability, which is well above the national average.
At the same time, PHA’s focus on safety awareness resulted in a decline in incidents.