Port Houston Continues Its Growth Momentum

Citing continued increases in tonnage, including resin exports, Port
Houston Executive Director Roger Guenther provided a report of solid
operating results to the Port Commission of the Port of Houston
Authority, at its monthly meeting held Tuesday.

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Houston Ship Channel (Photo: Business Wire)

Total tonnage has increased by nine percent for the year, including an
11 percent increase in loaded container tonnage. Total container
twenty-foot equivalent units (TEUs) has grown 13 percent for the year,
including year-over-year growth of 15 percent in April. Steel imports
through all Port Authority facilities also show ongoing strength,
growing 31 percent compared to the same period last year.

Guenther highlighted the role of resin exports in these results. “The
big driver of this growth is the much-anticipated surge in resin
exports,” Guenther said. “It is here, and it is solid.” Year-to-date,
Port Houston’s resin exports grew 38 percent in total, and polyethylene
exports increased an “astounding” 62 percent.

In his opening remarks, Port Commission Chairman Ric Campo emphasized
that “the Port is open for business, and it is going to be fair to
everyone. Fundamentally, we need a wider and deeper channel.”

To help support the ongoing project to widen and deepen the Houston Ship
Channel, the Port Commission approved management’s request to award a
contract for financial advisory services to assist with developing
financing strategies and options related to channel infrastructure
projects.

About the Houston Ship Channel

In 2018, the Houston Ship Channel generated nearly $802 billion in U.S.
economic value, supported 3.2 million jobs, and provided $38 billion in
tax revenue. In the state of Texas, it generated $339 billion in
economic value, sustained 1.3 million jobs, and generated $5.6 billion
in state and local tax revenue. The Houston Ship Channel is a 52-mile
federal waterway and is home to the greater Port of Houston’s more than
200 private and eight public terminals. It is considered the energy
capital of the world. Its success is a partnership of the U.S. Coast
Guard, the Houston Pilots Association, those private and public
terminals, and the vessels that transit it every day. The full economic
impact report is available at www.porthouston.com.

About Port Houston

For more than 100 years, Port Houston has owned and operated the public
wharves and terminals of the greater Port of Houston – the nation’s
largest port for the foreign waterborne tonnage and an essential
economic engine for the Houston region, the state of Texas, and the U.S.
The Port of Houston supports the creation of nearly 1.35 million jobs in
Texas and 3.2 million jobs nationwide, and economic activity totaling
$339 billion in Texas – 20.6 percent of the state’s total gross domestic
product (GDP) – and total of $801.9 billion in economic impact across
the nation. For more information, visit the website at www.porthouston.com.

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