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Port of Longview posts 5th record year
The Port of Longview has announced their 2012 year-end results showing continued momentum – posting a new record for operating revenue for the fifth year in a row. The strong year elevates the Port to the third largest port in Washington State by operating revenue only behind the Ports of Tacoma and Seattle, and now leading the Port of Vancouver, Washington.
The annual report was presented to the Port’s commissioners and revealed a significant increase of nearly 20% in operating income over 2011, which was also a record year. The numbers showed continued strength in the Port’s diversified portfolio, with bulk grains and agricultural products, calcined petroleum coke, logs, steel and wind energy cargo helping drive more business through the Port’s facilities, and more jobs in the region.
“We’re very proud of what we accomplished with the help of our customers and strategic partners in 2012,” said Geir-Eilif Kalhagen, Chief Executive Officer for the Port of Longview. “We’ve worked hard to mitigate our risks during the recent global economic downturn and as we see the broader shipping markets coming back to life, we’re positioning ourselves to capitalize on the new opportunities we see on the horizon.”
In 2012, the Port’s operating income rose to $33.8 million from 2011’s $28.3 million. Operating revenue has been on a steady climb at the Port since 2008 despite global economic pressures that have slowed growth in most business sectors. Operating expenses meanwhile were held very low, slightly rising from $25.6 million in 2011 to $25.8 million in 2012. Total tonnage at the Port grew exponentially from 2.2 million to 6.3 million metric tons, growth largely contributed to by the Port’s new export grain facility EGT, LLC.“Our diversification has been key to our sustained success,” added Kalhagen. “It’s a testament to Longview’s strong staff and local labor force that have made us a leader in cargo handling here in the Northwest.”
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