Business, Freight News, Sea

Port of Houston Authority Business Remains Solid

[ May 25, 2016   //   ]

The Port of Houston Authority continues to deflect the softness in the upstream oil and gas sector “due to a sound execution of its business model,” Executive Director Roger Guenther shared in his report to the Port Commission during its regular monthly meeting on May 24.
Container operations showed strength, while steel imports, primarily tubular products, followed the downward trend seen by both Texas and the nation. The Port Authority saw only a moderate decline of 2% in total TEU in its container business versus a very robust period through April last year, Guenther reported.
The Port Authority reported strong financials, and despite a 12% decline in tonnage due to steel, still handled nearly 12 million tons of cargo year-to-date. The Executive Director acknowledged the contribution of Port Authority staff members from across “all areas of the organization” for their “tremendous effort and commitment” to produce “sound operational results and financial performance” for the Port Authority.
Guenther also indicated in his report the expectation of a significant increase in volume due to the arrival of the 2M Asian service: Maersk Line’s TP18 service and Mediterranean Shipping Company’s Lone Star Express service. This new 2M Asian service is expected to make its first call at the Bayport Container Terminal on June 5. “Houston is rapidly increasing its position as a major gateway for trans-Pacific trade to the U.S and we are proud of that,” Guenther said.
The next Port Commission meeting is scheduled Tuesday, June 28.


Port Commission Chairman Janiece Longoria conducts yesterdays’s regular Port Commission meeting. (Photo: Business Wire)