Tuesday, March 29, 2011

Longview Port Sets Third Straight Revenue Record in 2010

Officials from the Washington-state Port of Longview reported earning nearly $28 million in revenues during 2010, setting a port record for the third straight year.

The port earned $27.8 million in revenue in 2010, an 11 percent increase over 2009. The port first topped $25 million in revenue in 2009 and $20 million in revenue in 2008.

Officials cited a surge in logs and bulk product exports as a main reason for the 2010 increase.

Exporters sent more than 600,000 metric tons of logs over Longview docks in 2010, a massive 166 percent increase over 2009. Officials said most of this growth was from greater demand in China due to a booming Chinese construction industry and simultaneous increases in the cost of Russian lumber.

Total exports moved through the port climbed 67 percent in 2010, while total imports – representing a fraction of the port's total cargo volume – were down 16 percent compared to 2009.

Total cargo tonnage handled by the port in 2010 increased by 55 percent to 2.3 million tons.

With $24.8 million in expenses for 2010, port officials reported a net operating income for the year of nearly $3 million.