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US shipyard victorious in heated battle for a bite of government newbuilding deal.
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US-based Port of Seattle reported a jump in revenue despite a slump in container volume.
Seattle saw twenty foot equivalent unit (teu) volume drop to 1.5m teu in 2009, a 7% decline compared to 2008 levels, according to today’s earnings release.
A boost to the bottom line came from the cruise division, which added $5.3m to the port’s coffers, a 13% gain over 4.7m in 2008.
Grain handling contributed an additional $4.7m, down 6% from a year prior
The container division’s annual revenue shot up 11% to $37.2m from $33.4m in 2008.
Total operating income was $50.1m, up 10% year-to-year from $46m.
Port of Seattle, situated on the West Coast of the US, says the positive figures are a result of increased cash from port-owned crane rentals, cost-cutting measures and the unexpected hike in cruiseship traffic.
Consolidated West Coast ports, including compatriot Port of Long Beach, saw on average a 15% decline in container volumes last year.
US shipyard victorious in heated battle for a bite of government newbuilding deal.
Ports handled 56.12m tonnes of cargo in the last five months, up more than 5%.
Taiwanese boxship player continues to forge ahead in 2010 after dire previous year.
Malaysian bulker and boxship owner in talks with banks after being unable to meet debt repayments.
Atlas ship refloats after hitting Horseback Shoal hard in St Lawrence, Canada.
Olympic Shipping rocks up at Norwegian yard with double order potentially worth over $120m.
Japanese owner reportedly extends LNG carrier depreciation period, boosting bottom line.
Brazilian miner could call for an international tender for a $1bn port near Strait of Malacca.
