The NC State Ports Authority posted increased cargo movement and operating revenues for the fiscal year ending June 30 compared to last year.
Top-line revenues continue to recover following the economic downturn with a 7 percent increase year over year, realizing a net profit for the fiscal year. Increased bulk cargo volumes at both the Ports of Wilmington and Morehead City contributed largely to revenues with combined 37 percent volume growth over FY11.
NC Ports are focused on investing in its facilities for future growth. The Wilmington Harbor Navigation Improvement Study is one such project with an immediate need for current and future customers of the Port of Wilmington. The feasibility study will examine the potential for making improvements to three critical issues in the existing shipping channel to address needed navigational enhancements.
In addition, there are many statewide initiatives supporting further investment and development at port facilities. The recently completed NC Maritime Strategy Study will further define the current and future role the maritime industry plays in sustaining North Carolina’s efforts to create jobs and strengthen the economy across the State. The study will provide a framework for future port development and planning to address economic development and attracting industries.
“ With NC recently being named the fourth best state for business by CNBC, our state will continue to grow and develop opportunities for NC businesses. North Carolina’s Ports are well positioned to meet the needs of our NC business community to reach the expanding global market, ” said Strader.
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Dredging Today Staff, July 19, 2012; Image: ncports