Port reports strong September revenue, healthy cash flow and ongoing FEMA reimbursements

Port staff told the Board of Commissioners on Oct. 20 that September produced strong financial results and that operations remain active.

Cameron reported September revenues of $4.7 million, favorable by approximately $1.5 million, driven by strong petroleum coke movement and commissioning of a new loader. Operating expenses were about $2.8 million (roughly $200,000 unfavorable due to a reimbursable hurricane-related expense), non-operating revenues were about $500,000 and cash flow for the month was about $2.3 million. Cameron also said the port received about $727,000 in September in FEMA-related reimbursements.

In operations, Todd reported recent City Docks shipments including roughly 24,000 units of aluminum hydrate, two lumber shipments totaling about 18,000 cubic meters and a liquid sodium hydrosulfide shipment. He said three barges of hydrate and one lumber shipment were on the schedule and that a supplier, Benderholtz, anticipated sending about 45,000 cubic meters of lumber between now and year-end.

Commissioners asked whether ongoing roadwork and traffic management were affecting truck access; staff said traffic was being managed by the contractor, the port’s portion of the work should be complete in about two months, and subsequent city relocation work will be more complicated.

What’s next: staff will continue to manage reimbursements, track cargo movement for the busy final months of the year and pursue insurance-renewal discussions with underwriters and Gallagher to control premiums.