The Alabama State Port Authority has released its financial and tonnage results for fiscal year 2014 ending September 30, saying that the Authority earned record revenues of USD 162.3 million and handled a record 29.1 million tons of cargo through the public terminals.
The Port Authority’s record tonnage and revenues were principally attributed to increased volumes in steel, export coal and containers. In Fiscal Year 2014, the general cargo division ended the year with a record 7.3 million tons of iron, steel and forest products handled. Steel posted the largest volume just over 5.0 million tons marking a 40 percent increase over the previous year.
Bulk division reported a total of 18.2 million tons of coal handled in Fiscal Year 2014, with export coal representing a record 13.7 million tons. The jump in export coal was attributed to increased demand globally for Alabama mined metallurgical coal.
Container volumes totaled 237,266 TEUs showing a 10 percent increase over the previous fiscal year. Automotive components, frozen poultry, forest products and consumer goods were the leading commodities imported and exported through the container terminal.
Overall growth in general cargo, bulk and containerized cargo volumes is linked to capital investments and continued growth in manufacturing output.
“The Port Authority’s investments in new facilities, Post-Panamax cranes, and information technology, coupled with our excellent inland rail, highway and waterway connections, have helped expand the Port Authority’s business and afforded efficiencies to our customers,” said James K. Lyons, ASPA CEO. “With continued investment in warehouses and intermodal rail, we believe the Port of Mobile will be well positioned to offer competitive service into new markets.”