Port of Vancouver Washington optimistic despite downturn

THE Port of Vancouver Washington's total tonnage has fallen to below 2006 levels and the port faces a US$23 million expense next year for its West Vancouver Freight Access project - nearly half of the port's $56.2 million annual budget.

"We're still stretched because of the rail project," said port executive director Larry Paulson, adding cheerfully that "2009 has been okay, 2010 will pick up and in 2011 the trajectory looks straight up from there."

Part of the port's positive outlook can be attributed to cost-cutting that trimmed nearly $11 million from its operating expenses in the 2009 fiscal year, reports The Columbian newspaper.

Mr Paulson also credits the port's diverse portfolio of clients and tenants. While grain and lumber exports have suffered in the recession, for example, wind components imports have done well, bolstering the port's position.

"The situation for ports is down overall but individual ports are seeing stable revenues or are even up a bit," said Eric Johnson, executive director of the Washington Public Ports Association. "The more diversified the cargo mix, the less dramatic the swings in cargo are (even though) they're still subject to the same market fluctuations."

(Source:www.schednet.com)