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Port, industry officials cite Bayport’s economic potential

February 10th, 2007 by office

The Port of Houston Authority has ushered in a new era with the long-awaited opening of the first phase of the $1.2 billion Bayport Container Terminal.

The multiphase Bayport construction project — which also includes a new cruise terminal — began in June 2004.
 
At full build-out, the Bayport terminal will have the capacity to handle seven container vessels and will have a 378-acre storage yard. The 30-year-old Barbours Cut Terminal is operating at 150 percent of capacity, and port officials expect Bayport’s first phase to absorb 25 percent of its workload.

Some 800 elected officials, port commissioners, community leaders, labor leaders and representatives of the maritime industry assembled on Feb. 8 to launch operations of what is touted as the most technologically advanced container terminal on the U.S. Gulf Coast.

“Barbours Cut was a vision of where cargo handling trends were headed in the future. The gamble paid off, and Barbours Cut allowed us to dominate the container trade in the U.S. Gulf,” said Tom Kornegay, PHA executive director.

Container throughput at Houston’s port has risen at an average growth rate of more than 10 percent per year for the last 15 years. Studies conducted by the Texas Transportation Institute predict a continued worldwide container growth rate of 7.2 percent through 2010. The study also estimates annual growth rates as high as 13 percent along the Gulf of Mexico.

After five years of operation, the combined container and cruise terminal is projected to generate 9,825 jobs, $395.4 million in personal income, $1.1 billion in business revenue and $35.6 million in state and local taxes.

Upon full buildout of the facility in 15 or more years, direct and indirect Bayport operations are expected to create 32,163 jobs.

Roger Guenther, PHA general manager of container terminals, will manage Bayport.

Already several months behind schedule due to construction delays, the first phase had been expected to be ready to accept ships by Nov. 1, but that date was pushed back to the end of December, and then into January.

source

Posted in Maritime News |

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