Mid-year tonnage, margins on the rise at Port of Vancouver USA
VANCOUVER, Wash. – The first half of 2017 came out strong at the Port of Vancouver USA, with some top commodities bringing excellent numbers and an increasing operating margin at the Port of Possibility.
Port management presented mid-year information in a public workshop that covered revenue, expenses, investment summaries and import and export commodities. The workshop was held immediately following the regularly scheduled July 18 Board of Commissioners meeting.
Staff shared that overall revenue and margins are on the rise compared to numbers presented at the same time last year. Compared to 2016 numbers, revenue at mid-2017 is up 5.54 percent and expenses went down by more than five percent. This increased the port’s operating margin to 25.83 percent—a more than eight percent increase over 2016’s operating margin.
Increased volumes of some top-performing commodities have grown overall tonnage over the same period in 2016. Commodities like steel, grain and fertilizer were all up in the first half of this year, amounting to an increase of 442,696 metric tons when compared with the same period last year.
While the port is seeing growth in the first half of 2017, staff are keeping a close eye on the market, including fluctuations in the global economy and uncertainty around trade policies. Continued investment in key projects such as the West Vancouver Freight Access Project and Centennial Industrial Building have positioned the port to continue giving businesses a place to call home, helping support existing jobs and spur business growth and job creation in our community.
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The Port of Vancouver USA is one of the major ports on the Pacific Coast, and its competitive strengths include available land, versatile cargo handling capabilities, vast transportation networks, a skilled labor force and an exceptional level of service to its customers and community. For more information, please visit us at www.portvanusa.com.