WASHINGTON: The Port of Houston Authority’s (Port Houston) 2017 Operating and Capital Budgets were approved at a special meeting of the Port Commission earlier this month. Solid financial performance is expected to continue in 2017. Port Houston has projected that total revenue will grow eight percent over expected 2016 results, fueled by container cargos.
The 2017 capital improvement programme includes strategic investments providing new growth opportunities, along with recapitalization projects needed to sustain high service and efficiency levels, and channel development projects. Cash flow generated by operations will help support the 2017 capital budget of US$73 million.
The Port Commission also approved rate increases under Tariff Nos 8, 14, and 15, effective January 1, 2017. Tariff increases will equal the percentage change in the Consumer Price Index average for a 12-month period ending October 2016 as published by the U.S. Bureau of Labor Statistics later this month. These tariff increases should allow the Port Houston to remain competitive in the current marketplace, while helping to cover the increased costs of terminal operations.
