Subscribe to our free, weekly email newsletter!


Port of Jacksonville poised to attract new ocean cargo carrier calls

By Patrick Burnson, Executive Editor
April 18, 2014

The U.S. Army Corps of Engineers issued a final Chief’s Report approving the Jacksonville Harbor Deepening Project, clearing the way for congressional authorization in an upcoming Water Resources Development Act.

The good news comes in the wake of recent Fitch Ratings affirming its “A” rating on the Jacksonville Port Authority, Florida’s (JaxPort) last month.

The affirmation reflects continued stable performance anchored by growing container throughput and sizable contractually guaranteed revenues from existing long-term tenants that limits the port’s exposure to operational risk, said Fitch. The rating also reflects the port’s adequate liquidity as well as rapid amortization profile with no additional planned parity debt issuances. Fitch also noted that the port benefits from a strategic location with improving intermodal connectivity and infrastructure and maintains its niche importance in the international automobile trade.

Nevertheless, Jaxport operates in a highly competitive Southeast Atlantic region for cargo and cruise activities with moderately trade exposure with Latin America and the Caribbean markets, added Fitch.

About the Author

image
Patrick Burnson
Executive Editor

Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

Newsroom Notes takes a look at some of the biggest stories and themes in logistics for 2014.

Even though China’s costs have risen and the U.S. has now surpassed Mexico as the preferred locale for relocating offshored manufacturing, advantages can be fleeting and the challenges great

Memphis-based FedEx reported solid fiscal second quarter earnings results today. Quarterly net income of $616 million was up 23 percent annually, and revenue, at $11.9 billion, was up 5 percent. Operating income at $1.01 billion was up 22 percent.

UPS said this week that it has added significant space to some of its North America-based distribution facilities, which the company increases the total size of its supply chain solutions network size by roughly 1.2 million square-feet. The company’s total global supply chain solutions network is comprised of 596 facilities and about 32.8 million square-feet. UPS offers various services at these facilities, including: warehousing and fulfillment inventory, transportation and returns management; custom kitting and packaging; and store-ready displays.

A week ago, the average price per gallon of diesel gasoline saw its steepest decline in more than two years, when it fell 7 cents to $3.535. This week took that decline a step further, with the Department of Energy’s Energy Information Administration (EIA) reporting that the average price this week fell 11.6 cents to $3.419 per gallon.

Article Topics

News · Container · Seaports · Infrastructure · All topics

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2013 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA