HOUSTON – Colliers International has recognized the Port of Houston as one of the strongest and most profitable ports in its recently released North America Port Analysis. Colliers International awarded Houston with its GDP (Gulf’s Darn Profitable) Award.
“In 2013, Houston has been firing on all cylinders,” the Colliers report said. “For the first half of 2013, bulk exports rose by approximately 20 percent, bulk commodities increased more than 15 percent, and container tonnage rose by 8 percent year over year.”
The report also cited the Port of Houston’s 47 percent increase in net income in July as a prime example of the port’s performance.
Colliers said: “In previous Colliers North American Port Analysis reports, Houston has been recognized as North America’s ‘Most Irreplaceable Port’ for the vital nature of its port’s physical aspects; this new award recognizes its operational excellence. Not only is the Port of Houston-along with the other dozen support harbors and secondary ports along the Houston Channel or in proximity to its inlet from the Gulf-vital to U.S. energy interests, it’s highly profitable.”
Houston is also poised to fare well with a “sleeper issue” that will loom large over the next year or two, Colliers said. That is air-quality regulations that will be imposed on large vessels while in port. Major shipping concerns are turning to dual-powered vessels that can run on diesel at sea and turn to cleaner burning liquefied natural gas while in port. Houston’s port has the ability to handle refueling with LNG, while a number of other ports may not be able to accomplish that, Colliers said.