Buoyed by increased volume of commodities like steel, grain, and fertilizer, Port of Vancouver USA recently reported that its 2017 mid-year operating margin was 8 percent higher than the 2016 mid-year level.
The Port of Vancouver USA reported that mid-year revenue was up 5.54 percent from the previous year and that expenses were down by more than 5 percent. Those factors contributed to the port’s operating margin increasing to 25.83 percent, an increase of more than 8 percent from last year.
“Increased volumes of some top-performing commodities have grown overall tonnage over the same period in 2016,” the Port of Vancouver USA said in a statement. “Commodities like steel, grain, and fertilizer were all up in the first half of this year, amounting to an increase of 442,696 metric tons when compared with the same period last year.”
Port of Vancouver USA expects ongoing infrastructure investments at the port to secure continued growth. The West Vancouver Freight Access Project, a 10-year effort to connect freight infrastructure from the port to BNSF Railway and Union Pacific Railroad mainlines is nearing completion, and the ongoing Centennial Industrial Building project will bring 125,000 square feet of enclosed warehouse space to the port once completed.
However, Port of Vancouver USA said its staff will keep a close eye on fluctuations in the global economy, uncertain trade policies and other market conditions going forward.