JOC Staff | Feb 28, 2013 2:17PM EST
The Port of Houston Authority’s commission has approved the port’s 2013 operating budget, which reflects increases in operating revenue, net income and cash flow.
The budget forecasts a 3 percent rise in container traffic and a 10 percent increase in auto cargo in 2013. Accordingly, the port budgeted $225.6 million for its yearly operating revenue, $15.9 million for net operating income and $34 million for net income. The 2012 operating revenue forecast was $214.8 million.
In his monthly report, Len Waterworth, the port’s executive director, said total tonnage at the port’s facilities in January was down 11 percent from January 2012. Although import tonnage continued to lag compared to the previous year, January operating revenue was $21 million, up 26 percent year-over-year, driven by increases in container movements, Waterworth said. He added that January’s net income was $5.5 million, improving by $3.4 million from last year.
