REDWOOD CITY, CALIF.—
The Port of Redwood City (Port) announced their mid-year results today reinforcing continued maritime and foreign trade growth and operational success serving the Silicon Valley region. For the period ending December 31, 2018, the Port’s cargo results are 1.36M metric tons, an increase of 150K metric tons from the same period last year, generating $4.78M in revenue to the Port, an increase of $470K from the same period last year. The mid-year results are ahead of last year’s historic levels, setting new record levels in both cargo tonnage and revenue to the Port. Last year’s fiscal year cargo and revenue results were the
best in operational history,
generating a 49% percent increase in cargo over the prior year. The Port’s fiscal year runs from July 1 to June 30.
“The Port’s mid-year results continue to lay a strong foundation for both cargo and revenue growth. Nearly half a million dollars better than our best year in operational history is quite an accomplishment and furthers our maritime and economic development goals serving Silicon Valley,” said Lorianna Kastrop, Port Commission chair. “Construction industry trends indicate continued growth over the next five years and as a result, the Port anticipates strong results for the remainder of 2019 due to construction materials continuing to be top ranking Port imports. These positive maritime trade results
allow us to support the local Redwood City community through an annual payment (or subvention) to support City services and activate recreational waterfront uses.”
The Port’s mid-year cargo and revenue activity highlights its focus on construction materials to the area with top ranking materials imported including sand, aggregates, gypsum, slag, and bauxite, with scrap metal as the primary export. Forty-two cargo vessels and seventeen barges called to the Port from July to December 2018 generating the maritime cargo tonnage announced. Cargo originates from countries including Australia, Canada, and Mexico, while exports travel to Korea, Vietnam, Malaysia, India, and Bangladesh.
The Port of Redwood City is the only deep-water port in the South San Francisco Bay, with a channel depth of 30 feet mean lower low water (MLLW), offering three deep-water berths and five wharves to support international foreign trade and maritime activities of the Silicon Valley region and west coast of the United States.
For more about the Port of Redwood City, go
here
.
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