Friday, March 20, 2015

Vancouver USA Achieves Revenue, Tonnage Milestones

By Mark Edward Nero

Calendar year 2014 was the best revenue and tonnage year for the Port of Vancouver USA in its 103 year history, according to recently revealed data.

The port reported on March 10 that it saw a record $37.5 million in operating revenue in 2014, a 25 percent increase over 2013. In addition, tonnage – total import and export cargo – was 6.6 million metric tons during the year, a 47 percent increase over 2013.

“This was a banner year for the Port of Vancouver,” port CEO Todd Coleman said in a statement announcing the news.

Overall exports moving through the Port of Vancouver were up 37 percent in 2014. The port’s largest export by volume is grain: corn, soybeans and wheat. Combined, those commodities increased by 53 percent to 2.59 million metric tons. Corn exports increased by 115 percent, soybeans were up 89 percent and wheat was up 31 percent.

Also, overall imports were up 118 percent last year. Much of the increase, according to the port, was fueled by huge gains in steel and wind energy components. Steel slabs, a new commodity for the port in 2014, took total steel import tonnage to 590,170 metric tons – a massive increase of 495 percent over 2013. Wind energy components, such as towers and blades, were up 234 percent.

Additionally, Subaru of America imported 81,718 vehicles through the port in 2014, an increase of 18 percent over the previous year.

The port also says the current year looks very promising.

Tenants expanding in 2015 include Subaru of America, which is adding 15,000 square feet to its current facility to support new sales growth and future goals. Another tenant, Sunlight Supply Inc., plans to build a 285,000-square-foot facility at the port’s Centennial Industrial Park to consolidate its operations in Southwest Washington.

The port is also undertaking a historic development at Terminal 1, called the Waterfront Legacy Project. The development may include a mixed-use building, new hotel and public attractions on the waterfront. The port is currently working with consultants to determine feasibility and develop a master plan for the site.