Make us your home page
Instagram

Tampa port posts record revenue despite rough economy

Turbulent economic seas didn't stop the Port of Tampa from posting record operating revenue of $42 million and eke out a 3 percent boost in operating income, port director Richard Wainio said in his annual State of the Port address Thursday.

Wainio said the Tampa port, like most ports in the nation, has seen cargo activity decline over the past five years, with private terminals hit hardest by the recession. Beyond lessened consumer demand, the port was also hurt by TECO's decision to sell its ocean transport company and begin shipping coal by rail to its Big Bend facility.

On the other hand, steel shipments are up, he said, and the diversity of the port's business lines has helped it through the slump.

Cruise passenger totals reached about 875,000, second-highest only to the year after Hurricane Katrina, when a cruise vessel was temporarily shifted from New Orleans to Tampa. Wainio predicted hitting a record this current fiscal year and breaking the 1 million passenger mark a year from now.

Over the next five years, the port is planning $320 million in new investments, including the expansion of its container terminal. Construction is slated to begin soon on the largest project planned at the port: a $40 million modernization and expansion of its main oil terminal, the primary entry point for gasoline feeding all of west-central Florida's nearly 9 million residents.

Separately on Thursday, Gov. Rick Scott reappointed William "Hoe" Brown to a four-year term on the Tampa Port Authority.

Brown, 54, of Tampa is the president of JB Carrie Properties Inc. He's been on the Port Authority's seven-member board since 2008. His appointment to the board is subject to confirmation by the Florida Senate.

Tampa port posts record revenue despite rough economy 12/08/11 [Last modified: Thursday, December 8, 2011 10:01pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Wing of Channelside Bay Plaza being demolished to make way for Water Street Tampa

    Business

    TAMPA — The developers of Channelside Bay Plaza originally wanted the name to include "Garrison." That would have fit, in a way, because the complex turned out to be fort-like, inwardly focused and unwelcoming.

    Demolition of the southwest wing of Channelside Bay Plaza is underway, with a big chunk of the building expected to come down today.
  2. City Council candidates weigh in on noise ordinances, pier reconstruction

    Local

    ST. PETERSBURG — Residents of Bayfront Tower Condos peppered City Council candidates Tuesday night with questions about noise ordinances, road repairs and the multi-million-dollar plan to rebuild the pier.

  3. Black entrepreneur says city stiffing him on project after he endorsed Rick Baker

    News

    ST. PETERSBURG — A prominent African-American resident says his endorsement of mayoral candidate Rick Baker has led city officials to freeze him out of a major construction project along the historic "Deuces" stretch of 22nd Street S.

  4. Sen. Nelson urges FEMA to examine high number of denied flood claims

    Banking

    Sen. Bill Nelson urged FEMA on Tuesday to ensure fairness, proper oversight and transparency in processing Hurricane Irma aid following a report by the Palm Beach Post that 90 percent of Irma claims under the National Flood Insurance Program had been denied.

    Sen. Bill Nelson is calling for FEMA to ensure the flood claims process post-Hurricane Irma is fair and ethical following reports that 90 percent of claims under the National Flood Insurance Program were denied. | [Times file photo]
  5. Amazon expands in Tampa with Pop-Up shop in International Plaza

    Retail

    TAMPA — A new retailer known largely for its online presence has popped up at International Plaza and Bay Street.

    Shoppers walk past the new Amazon kiosk Tuesday at the International Plaza in Tampa. The kiosk, which opened last month, offers shoppers an opportunity to touch and play with some of the products that Amazon offers.
[CHRIS URSO   |   Times]