By Karen Robes Meeks
In the first half of its fiscal year running from July 1 to Dec. 31, the Port of Redwood City moved 1.36 million metric tons of cargo, 150,000 metric tons more than a year ago.
The cargo movement generated $4.78 million in port revenue, $470,000 more than the previous period.
“The port’s mid-year results continue to lay a strong foundation for both cargo and revenue growth,” said Port Commission Chair Lorianna Kastrop. “Nearly half a million dollars better than our best year in operational history is quite an accomplishment and furthers our maritime and economic development goals serving Silicon Valley.”
The port anticipates strong results for the rest of fiscal year 2019 from construction materials, a top-ranking port import, according to Kastrop, adding that construction industry trends point to ongoing growth over the next five years. “These positive maritime trade results allow us to support the local Redwood City community through an annual payment (or subvention) to support city services and activate recreational waterfront uses,” she said.
The port’s fiscal year is from July 1 to June 30.
In the first half of its fiscal year running from July 1 to Dec. 31, the Port of Redwood City moved 1.36 million metric tons of cargo, 150,000 metric tons more than a year ago.
The cargo movement generated $4.78 million in port revenue, $470,000 more than the previous period.
“The port’s mid-year results continue to lay a strong foundation for both cargo and revenue growth,” said Port Commission Chair Lorianna Kastrop. “Nearly half a million dollars better than our best year in operational history is quite an accomplishment and furthers our maritime and economic development goals serving Silicon Valley.”
The port anticipates strong results for the rest of fiscal year 2019 from construction materials, a top-ranking port import, according to Kastrop, adding that construction industry trends point to ongoing growth over the next five years. “These positive maritime trade results allow us to support the local Redwood City community through an annual payment (or subvention) to support city services and activate recreational waterfront uses,” she said.
The port’s fiscal year is from July 1 to June 30.
