The opening of the EGT grain
terminal at the Port of Longview’s Berth 9 is already paying off for the port, and
in a big way.
Longview, which lost about
$165,000 the first three months of 2012, rebounded to finish the first half of the
year with $3 million in net income, thanks in large part to the EGT facility, which
opened for business in February.
“It’s certainly the strongest
second-quarter performance I’ve seen,” port Executive Director Ken O’Hollaren said
Aug. 24. O’Hollaren, who joined the port in 1980, retires at the end of the year.
Exports of grain, imports
of calcined coke and imports of new wind energy equipment were the main cargos contributing
to the financial resurgence, according to the port.
Since February, EGT has
exported 1.3 million tons of wheat, soybeans and corn gluten meal, according to
the port. Also, the port handled 2,000 tons of wind energy cargo imports from April
to June; in 2011, no wind energy cargo passed through the port.
EGT officials say that at
full capacity, the terminal will export between eight and nine million tons of grain
annually and generate $5 million to $8 million in shipping revenue for the port.
EGT spokesman Matthew Beck has previously said the company expects to load 150 to
200 ships annually bound for Asia.
Up until late January, a
prolonged labor dispute was ongoing between EGT and International Longshore and
Warehouse Union Local 21, stemming from the company using the services of a union
other than the ILWU at the terminal. The port’s three-member commission ratified
a settlement giving the ILWU control over the grain handling union jobs Jan. 27.
EGT is a $200 million joint
venture between Bunge Ltd, ITOCHU International and STX Pan Ocean. Berth 9 was the
first export grain terminal built in the United States in over 25 years.
