Port of Tacoma posts performance figures for 2006
A modest increase in new container volume, coupled with a banner year in non-containerized cargo, defined the Port of Tacoma's container records for 2006, according to a statement released Feb. 5 by the port.
Last year, the Port set a new container record with 2,067,186 TEUs -- a slight increase of about 4,000 TEUs over 2005's record volume. But the biggest jump was seen in non-containerized cargo, where a 22 percent growth in auto imports, and an 11 percent growth in breakbulk cargo marked a strong performance for this line of business.
According to Executive Director Timothy J. Farrell, the Port spent most of last year focused on capital investments, increasing system-wide capacity to handle future growth, and "catching its breath" after record container growth in 2005.
Indeed, a year ago it closed 2005 by expanding its international TEU volume by more than 20 percent.
Farrell pointed to the Port's focus last year on investments of $132 million in capital projects to lay the foundation for the Port's future. Those projects include completion of $10.5 million in major, near-terminal rail expansion projects; groundbreaking for a 22-acre expansion at Washington United Terminals (Hyundai Merchant Marine); completion of the Husky Terminal ("K" Line) redevelopment and expansion; widening the Blair Waterway; and demolition and cleanup the 96-acre former Kaiser Smelter -- future site for new marine terminal development.
"These projects will allow our customers to continue to grow and be successful in Tacoma," said Farrell. He added that the Port's top priority is to remain ahead of customer growth by expanding on- and near-terminal cargo capacity. "Our five-year capital plan calls for an investment of $336 million with the long-term objective of reaching 10 million TEUs by 2025," said Farrell.
Over the past three decades, according to the Port, containerized cargo has grown from 85,000 to nearly 2.1 million TEUs
Last year, the Port set a new container record with 2,067,186 TEUs -- a slight increase of about 4,000 TEUs over 2005's record volume. But the biggest jump was seen in non-containerized cargo, where a 22 percent growth in auto imports, and an 11 percent growth in breakbulk cargo marked a strong performance for this line of business.
According to Executive Director Timothy J. Farrell, the Port spent most of last year focused on capital investments, increasing system-wide capacity to handle future growth, and "catching its breath" after record container growth in 2005.
Indeed, a year ago it closed 2005 by expanding its international TEU volume by more than 20 percent.
Farrell pointed to the Port's focus last year on investments of $132 million in capital projects to lay the foundation for the Port's future. Those projects include completion of $10.5 million in major, near-terminal rail expansion projects; groundbreaking for a 22-acre expansion at Washington United Terminals (Hyundai Merchant Marine); completion of the Husky Terminal ("K" Line) redevelopment and expansion; widening the Blair Waterway; and demolition and cleanup the 96-acre former Kaiser Smelter -- future site for new marine terminal development.
"These projects will allow our customers to continue to grow and be successful in Tacoma," said Farrell. He added that the Port's top priority is to remain ahead of customer growth by expanding on- and near-terminal cargo capacity. "Our five-year capital plan calls for an investment of $336 million with the long-term objective of reaching 10 million TEUs by 2025," said Farrell.
Over the past three decades, according to the Port, containerized cargo has grown from 85,000 to nearly 2.1 million TEUs
