Expenses are expected to increase next year due to higher capital investments and growth in container volumes.
While the budget forecasts a modest 2.7% rise in
container units for next year, container units are expected to rise another
14.4% between 2016 and 2017.
Net profits are expected to decline in 2016 as the Port
Authority plans to invest heavily in infrastructure improvements. The Port
Authority will spend USD207 million, or 66% of the 2016 Capital Improvement
plan, on strategic projects which will support new growth opportunities at the
Port Authority. Channel projects make up 21 percent of next year’s capital
budget.
In November the port commissioned its new Super Post-Panamax
ship-to-shore (STS) cranes at the Barbours Cut Container Terminal.
The
first operational crane began discharging a container ship with a 4,250 TEU
capacity. With all four cranes in use, the Barbours Cut terminal’s annual
capacity will be doubled from 1.25 million TEU to 2.5 million TEU. The four
30-story-tall electric cranes are the largest ever built by Konecranes. The cranes
have a 65-long ton capacity and the ability to handle two 20-foot containers
simultaneously. With use of a cargo hook, the cranes’ capacity increases to 80
long tons.
Continuing
a strategic move to increase vessel productivity and truck efficiency, the Port
of Houston Authority also completed the installation of the Navis N4 terminal
operating system at the Barbours Cut Container Terminal.
The updating of terminal operations to more modern
hardware and software technology platforms is part of a larger master-planned
redevelopment. The Port Authority redeveloped more than 20 acres at Barbours
Cut for container stacking and has commissioned four new Super Post-Panamax
cranes, which are in operation