Seattle predicts a 5.8 percent rise in container traffic
The 2012 budget is more modest when it comes down to dollars and cents
Port of Seattle seaport operating revenues are budgeted at $99 million for 2012, the same as this year. In the budget just passed, revenues are planned to rise 2.4 percent a year, compounded, to $110 million in 2016.
Total income from all sources in 2012 is projected to be $159 million, including tax receipts. Total operating expenses, including corporate costs, will be $46.5 million. Net operating income before depreciation is $52 million. The number of staff will stay at 60, (actually 59.9 according to the official figures).
The capital budget is set at $32 million and expected to rise to $80 million in 2016.
One of the seaport's main goals this year is to generate revenue from Terminal 25 South. Others are: Jointly marketing the Port of Seattle with our container terminal tenants and the railroads;
* Actively promoting the Foreign Trade Zone;
* Increased focus on and promotion of regional exports;
* Leveraging the Green Gateway brand to increase awareness of business friendly environmental initiatives and attract cargo;
* Leading the US West Coast Collaboration (USWCC) effort to highlight West Coast advantages to shippers
Docking, wharfage, and related service/passenger fees will bring in $ 3.3 million. Dwarfing all revenues is the $80 million from property rentals (which include the terminals).
Salaries and wages will rise 1.5 percent to $7.8 million, while payments for outside services (consultants etc) will be $5 million. Lease and assert management will take up 77 percent of the total capital budget.
Container trade is expected to be 1.65 million TEU, at 13.2 million metric tons, up 5.8 percent on this year.