WILMINGTON: Container business at the Port of Wilmington is poised to reach new heights. The N.C. State Ports Authority posted a 20 percent increase in container volume in its fiscal third quarter over the same period last year, the state agency reported last week. A significant increase was seen specifically in March – 34 percent, the ports authority said, and Wilmington is on pace to handle the most 20-foot equivalent units – which is how containers are measured – in its history. The agency’s fiscal year runs from July 1 through June 30.
“Ports on the U.S. West Coast, as well as many right here on the U.S. East Coast, are dealing with major congestion,” CEO Paul J. Cozza said in a statement. “Shippers are beginning to look for alternatives. Our lack of congestion and unrivaled customer service make us a viable option for carriers and beneficial cargo owner’s alike.”
Faster gate turn times and increased crane moves per hour have also made a difference in the first three quarters, according to the authority.
In addition to the ports of Wilmington and Morehead City, the state has inland terminals in Charlotte and Greensboro.
Last week Fitch Ratings said it had affirmed the port authority’s approximately $41 million port facilities revenue bonds at BBB+ with a stable rating outlook.
Fitch cited two peers of the N.C. authority: the Virginia Port Authority, rated A+, stable outlook, and Alabama State Ports Authority rated A-, stable outlook.
