Report details Port of Longview’s impressive first half of 2014

By Shari Phiel, August 13, 2014, The Daily News

The Port of Longview collected more than $18.5 million in revenue in the first half of 2014, about 22 percent above last year’s total of $15.1 million for the same six-month period, according to the port’s second quarter financial report released Tuesday.

 

In the second quarter alone, the port collected nearly $8.6 million in revenue, or 54 percent of its total expected revenue for the year.

 

Much of the income came from exports of calcined coke, logs, grain and some steel. Log exports for the first half of 2014 were running above expectations with over 470,000 board feet, almost 80 percent of the total year’s forecast, coming through the port. Both calcined coke and Berth 2 bulk shipments were pacing at more than half of the annual forecast. However, Berth 9 grain exports ran slightly under forecast with about 2.8 million metric tons shipped, or 48 percent of 2014 projections.

 

When compared to 2013 exports, bulk corn exports jumped in the first half of 2014 to 560,000 metric tons, compared to just 24,000 metric tons in the first half of 2013. Other bulk products that fared well were barley and bentonite clay.

 

Imports at the port didn’t fare as well with total imports coming in at just 35 percent of the annual projection. Steel and general cargo imports were above projections, but other commodities such as proppants (a solid used in fracking) and wind turbine parts failed to meet expectations. While imports fell short of projections, they continue to outpace imports for 2013. Total imports from Jan. 1 through June 30 of 2014 were 22,191 metric tons compared to 7,287 metric tons for the same period in 2013.

 

The port also appears on track to meet or exceed projections for net income (before depreciation of equipment). By the end of the second quarter, the port’s net income was just over $3.4 million, about 75 percent of the total 2014 budget.

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