HOUSTON-A recent report issued by the Port of Houston Authority revealed another banner month, with operating revenue at $20 million during August 2013. This puts the year-to-date total operating revenue for the port at $156 million, an increase of 4% from the previous year.
The port's August's net income of $11 million is up $7 million or 212% from the same time last year, while year-to-date net income of $36 million is up $10 million, or 38% year over year.
August total tonnage of 3 million reflects a 5% increase over the prior year. This was led by a surprise uptick in steel imports, which is up 25 percent, or 424,000 tons. Year-to-date total of 24 million tons is up 4% year over year, led by a 16% increase in bulk and a 7% increase in containers.
Port Receives Federal Grant
In other news, the Port of Houston Authority will receive a $10 million Transportation Investment Generating Economic Recovery (TIGER) grant to be used toward the expansion of the berth at its Bayport Container Terminal. The grant will help fund the extension of Bayport's wharf from 3,300 to 4,000 feet.
The Bayport expansion was prominently mentioned by the U.S. Department of Transportation as a prime "example of a project that will help jumpstart local and national economic growth," in its announcement that $474 million for 52 TIGER grants had been awarded to 37 states this year. In this latest round, more than $100 million, or around 21 percent of total funding, went directly or indirectly to port-related projects. This is the fifth round of TIGER funding. Grants are awarded on a competitive basis.
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