In his monthly report, Port of Houston Authority Executive Director Len Waterworth said that total tonnage at Port Authority facilities (excluding bulk cargo associated with leased locations) was down 11 percent from last year.
"Steel decreased 181,000 tons or 38 percent, which reflected a slowdown in drilling activity from the prior year, a trend we expect to continue in the first half of this year," he said. Although import tonnage continues to lag the prior year, steel imports for January grew by 18 percent from December 2012.
Additionally, following a special meeting on February 26, the Port Commission of the Port of Houston Authority approved the Port Authority's 2013 operating budget.
The Port of Houston said that with a forecast for 3 percent growth in container traffic and a 10 percent increase in auto cargo at the Port of Houston Authority for 2013, the Port Authority has budgeted $225.6 million for its 2013 operating revenue, $15.9 million for net operating income and $34 million for net income. The 2012 operating revenue forecast was $214.8 million.
January operating revenues were $21 million, up by 26 percent over last year, given the growth in container movements. January operating expenses were up slightly by $400,000 or 3 percent, related to labor required due to the growth in container movements.
Waterworth reported strong net operating results for January, which showed net income of $5.5 million, improving by $3.4 million from the prior year.