JaxPort readies for more big ships; budget is on ledger's plus side by nearly $14 million

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

2 Jul 2009

JaxPort reports it is working closely with Hanjin Shipping Co. to develop contracts for public bidding for the development of their new terminal at Dames Point. A “Request for Quote” for the design of the terminal Island is expected to be published and available for public bidding during July. Meanwhile, CMA CGM Group, a container shipping company, began calling at JaxPort’s Blount Island Marine Terminal in June. The service brings an additional 200 containers to Jacksonville per week, many from Europe. The firm is headquartered in Marseille, France.
JaxPort’s directors approved its operating and capital budgets on June 22 for Fiscal Year 2010, beginning Oct. 1. The budget will next be filed with the City of Jacksonville, followed by review and approval by the City Council.
JaxPort’s Jeff Price said today the proposed budget is expecting revenues of $48.1 million and operating expenses totaling $34.2 million – a $13.9 million profit. He added, “The difference between revenues and expenses goes toward paying down debt we have accrued as we continue to develop and maintain port facilities.”
Chief Financial Officer Mike Poole, Chief Operating Officer Chris Kauffmann and Chief Commercial Officer Roy Schleicher reported JaxPort’s revenue through seven months of fiscal 2009 was $2.6 million greater than the amount received in the same period last year. While cargo tonnage has decreased 30 percent, and break bulk and dry bulk cargoes are also down, container tonnage is up 8 percent compared to last year. Military cargoes and cruise revenues are also up.
The trio also reported by purchasing fuel at currently reduced prices, not filling vacant positions, and reducing travel and advertising expenditures, JaxPort’s operating expenses are $1.2 million less than budgeted.
In a special public meeting following their regular monthly meeting, the board approved the sale of 39 acres of property in the North Talleyrand area to Keystone Coal Co.
The board’s next meeting Island scheduled for July 27.

Source: Examiner.com