Port of Tacoma Experiences Growth in Cargo and Industrial Activity in 1995.TACOMA, Wash.--(BUSINESS WIRE)--Jan. 22, 1996--An increase of more than six percent in containerized con·tain·er·ize v.tr. con·tain·er·ized, con·tain·er·iz·ing, con·tain·er·iz·es 1. To package (cargo) in large standardized containers for efficient shipping and handling. 2. cargo and a group of new industrial tenants were among the highlights that helped make 1995 a successful year for the Port of Tacoma A major gateway to Asia and Alaska, the Port of Tacoma is a leading North American seaport, handling more than $35.6 billion in annual trade and nearly 2.1 million TEUs (Twenty-foot Equivalent container Units) in 2006. . Container throughput at the Port reached a record 1,092,087 TEUs (Twenty-foot Equivalent Units) in 1995, a 6.2 percent increase over 1994. This marks the sixth consecutive year that the Port's TEU TEU Twenty-Foot Equivalent Units (intermodal shipping container) TEU Technical Escort Unit TEU Technical Escort Unit (Army) TEU Tactical Enforcement Unit TEU Treaty of European Union totals have topped the one million mark. Gains were made in both the trans-Pacific and Alaska markets. Tacoma is one of the ten largest container ports in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , and among the top 25 worldwide. Growth in trans-Pacific container volumes is attributable to several factors: o Evergreen Line The Evergreen Line is a proposed rail transit line in Greater Vancouver, Canada. It is proposed to run from Lougheed Town Centre SkyTrain station in Burnaby through Port Moody to Coquitlam, and is planned to begin operations by the end of 2011. completed the phase-in of its larger G class ships in the string serving Tacoma in 1995. o Italia Line began a new trans-Pacific service in conjunction with Evergreen, calling at Terminal 4. o Sea-Land Service began routing vessels from Long Beach through Tacoma on their westbound leg, picking up exports bound for Asia. o Evergreen also routed some ships from Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, through Tacoma on their outbound leg during the summer months. o "K" Line, which calls at Terminal 7D, launched a less-than-container-load program that brought additional business to the Port's container freight station and boosted container volumes. The Alaska container business posted a surprising 5.5 percent gain. The growth was propelled by special construction projects in Alaska, including a hospital and several mining projects, as well as a banner year for the fishing industry. Sea-Land and Totem Ocean Trailer Express (TOTE) two major container shipping lines that serve Alaska from Tacoma, handle about 80 percent of all waterborne commerce going to Alaska from the Lower 48 states. In the area of non-containerized shipping lines and cargoes, the Port gained a new breakbulk/project cargo carrier in 1995 with Eastern Car Liner (ECL (Emitter-Coupled Logic) A digital circuit composed of bipolar transistors in which the emitter ends are wired together. ECL gates switch faster than TTL gates, but consume more power. See TTL, I2L and bipolar. 1. ). The line specializes in heavy-lift and roll-on/roll-off cargoes, making it a perfect match for the Port's Terminal 7 or Pierce County Pierce County is the name of five counties in the United States:
Kia Motors is South Korea's 2nd largest automobile manufacturer with headquarters in Yangjae-dong, Seocho-gu, Seoul, South Korea. Its CEO is Chung Eui-sun. The American arm is Kia Motors America. , also began importing vehicles through the Port in 1995. Overall cargo tonnage increased 28 percent to 14.7 million short tons. Grain increased by 160 percent for a total of 4.72 million tons. Alumina also saw strong growth, increasing by 20 percent to 537,093 tons. The Port experienced minor cargo decreases in breakbulk, logs, and automobiles. Industrial Development The revitalization of the Port's Industrial Yard, a 182-acre site bordered by the Blair and Hylebos waterways, was one of the highlights of the Port's industrial development program in 1995. In August, Tyson Seafood Group decided to relocate its vessel maintenance and support operations from Seattle to the Industrial Yard. Tyson's 32-vessel fleet now makes its home at Piers 24 and 25. Activity at the tyson facility employs up to 200 people, depending on seasonal needs. Five other companies employing 110 people also moved to the Industrial Yard last year, increasing occupancy by 43 percent. The Port's warehouse facilities in the Commencement Bay Commencement Bay is the body of water on which Tacoma, Washington is located. A line drawn from Point Defiance in the west to Browns Point in the east serves to mark the generally accepted division between the bay and the open sound. Industrial Development District continue to be heavily utilized, ending the year with an occupancy rate Noun 1. occupancy rate - the percentage of all rental units (as in hotels) are occupied or rented at a given time pct, per centum, percent, percentage - a proportion in relation to a whole (which is usually the amount per hundred) of 94 percent, up three percent from 1994. Infrastructure & Capital Investment The Port also undertook several important infrastructure and capital investment projects in 1995 that will help meet the needs of current customers and tenants and provide a foundation for growth through the end of the decade. Construction of the State Route 509 bypass continued and is on schedule for completion in January, 1997. The new road will allow removal of the 11th Street Bridge over the Blair Waterway, opening the Upper Blair for future development. Over 300 acres of land on the Upper Blair are earmarked for new Port terminal projects in the years ahead, enabling the Port to more than double its current container handling capabilities. The centerpiece of this development is the West Blair Terminal, a 50- to 100-acre container terminal A container terminal is a facility where cargo containers are transhipped between different transport vehicles, for onward transportation. The transhipment may be between ships and land vehicles, for example trains or trucks, in which case the terminal is described as a with a dedicated on-dock intermodal railyard. Preliminary work on the terminal is underway, and all permits needed for construction have been acquired. Other steps taken by the Port in 1995 to expedite development of the Blair include: o Cleanup of sediments to meet Superfund obligations. o Dredging of the Blair Waterway to 47-foot depth. o Widening of the Blair Waterway to 676 feet. In anticipation of growth planned by Sea-Land, the Port created 25 acres of future terminal space by filling the Milwaukee Waterway. Once the project is complete, Sea-Land's terminal will comprise a total of 140 acres. Financial Performance Financial results for 1995 continue to reflect the strong performance of Port operations. Operating revenues, at $51.7 million, were up by five percent over 1994. A continued emphasis on cost reduction, combined with overall business growth, contributed to a 12 percent increase in operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. , from $8.4 million in 1994 to $9.4 million in '95. "Operating income is a good measure of the efficiency of our operations," said John Terpstra John Terpstra (born in Brockville, Ontario) is a Canadian poet and carpenter. During much of his childhood, he lived in Edmonton, Alberta, but moved back to Ontario to attend high school in Hamilton where he lives today. , executive director of the Port of Tacoma. "Results like this can only come from extraordinary efforts by our staff, a good working attitude by our longshoremen and responding to customer needs," said Terpstra. Net income for 1995 is $13.3 million. CONTACT: Port of Tacoma, Tacoma Rod Koon/Mick Shultz, 206/383-5841 (From the Seattle area, 206/838-0142) |
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