The Houston Ship Channel expansion and deepening program, Project 11, continues, at the same time that the overall tonnage is up 7% year-to-date collectively for public terminals.
However, the executive director of the port Roger Guenther noted there is now a “considerable softening of demand, especially in the import of container”.
Tempering expectations concerning container imports, Guenther expressed that this softening was anticipated in the annual budget, so though only two months into the year, the US port is tracking to those plans. “Expectations are that recovery of this volume will begin to bounce back in the last half of 2023,” he said.
The expansion project of the channel is still on time and on budget. However, chairman Ric Campo acknowledged the provision of US$180 million in government funding still required for the last leg of construction which is expected to be completed in 2025.
Furthermore, Guenther and other executive leaders expressed how they were encouraged by the Environmental Defense Fund (EDF) Board of Trustees and staff responsiveness to the Port’s Environmental, Social, Safety, and Governance Plan (ES2G) and the funding applications it is pursuing. Guenther and the leadership team also mentioned that Port Houston is looking forward to continuing cooperative engagement with EDF.
The executive director also announced Charlie Jenkins, senior director of Asset Management & Strategic Coordination, has assumed the new role of Chief Channel Infrastructure Officer.
Jenkins will lead the development and maintenance of the Houston Ship Channel and oversee the development and implementation of the Port Houston Strategic Asset Management Program.
In particular, the Port Commission will meet on 2 May, for its next regular monthly meeting.
