Port Houston Continues Its Growth Momentum
HOUSTON--(BUSINESS WIRE)--May 22, 2019--
Citing continued increases in tonnage, including resin exports, Port Houston Executive Director Roger Guenther provided a report of solid operating results to the Port Commission of the Port of Houston Authority, at its monthly meeting held Tuesday.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190522005792/en/
Houston Ship Channel (Photo: Business Wire)
Total tonnage has increased by nine percent for the year, including an 11 percent increase in loaded container tonnage. Total container twenty-foot equivalent units (TEUs) has grown 13 percent for the year, including year-over-year growth of 15 percent in April. Steel imports through all Port Authority facilities also show ongoing strength, growing 31 percent compared to the same period last year.
Guenther highlighted the role of resin exports in these results. “The big driver of this growth is the much-anticipated surge in resin exports,” Guenther said. “It is here, and it is solid.” Year-to-date, Port Houston’s resin exports grew 38 percent in total, and polyethylene exports increased an “astounding” 62 percent.
In his opening remarks, Port Commission Chairman Ric Campo emphasized that “the Port is open for business, and it is going to be fair to everyone. Fundamentally, we need a wider and deeper channel.”
To help support the ongoing project to widen and deepen the Houston Ship Channel, the Port Commission approved management’s request to award a contract for financial advisory services to assist with developing financing strategies and options related to channel infrastructure projects.
About the Houston Ship Channel
In 2018, the Houston Ship Channel generated nearly $802 billion in U.S. economic value, supported 3.2 million jobs, and provided $38 billion in tax revenue. In the state of Texas, it generated $339 billion in economic value, sustained 1.3 million jobs, and generated $5.6 billion in state and local tax revenue. The Houston Ship Channel is a 52-mile federal waterway and is home to the greater Port of Houston’s more than 200 private and eight public terminals. It is considered the energy capital of the world. Its success is a partnership of the U.S. Coast Guard, the Houston Pilots Association, those private and public terminals, and the vessels that transit it every day. The full economic impact report is available at www.porthouston.com.
About Port Houston
For more than 100 years, Port Houston has owned and operated the public wharves and terminals of the greater Port of Houston – the nation’s largest port for the foreign waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. The Port of Houston supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6 percent of the state’s total gross domestic product (GDP) – and total of $801.9 billion in economic impact across the nation. For more information, visit the website at www.porthouston.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190522005792/en/
CONTACT: Lisa Ashley, Director, Media Relations
Office: 713-670-2644; Mobile: 832-247-8179
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: TRANSPORT MARITIME MANUFACTURING LOGISTICS/SUPPLY CHAIN MANAGEMENT STEEL OTHER MANUFACTURING
SOURCE: Port Houston
Copyright Business Wire 2019.
PUB: 05/22/2019 03:15 PM/DISC: 05/22/2019 03:15 PM