Port of Longview’s profits have nearly doubled so far this year, as grain shipments at EGT reached record levels.
In the first six months of the year, the port’s net operating income hit $6.5 million, up from $3.5 million for the same time last year, according to a recent report on the port’s second-quarter financial results.
Total operating revenue reached $21.2 million in the first six months of the year, a 15 percent increase from the same period last year.
Meanwhile,first half operating expenses fell slightly, to $14.7 million, down from $14.8 million in the same time last year. The increased revenue is primarily because of activity at the Export Grain Terminal at Berth 9.
Bumper grain crops have boosted tonnage at EGT, with soybean and corn shipments leading the way. Grain exports spiked to 4.1 million in the first six months of the year, up 58 percent from 2.6 million the same period last year.
Total tonnage at the port hit 5.2 million in the first six months of 2017, a 53 percent jump from the 3.4 million in the same period last year, according to the port. For all of 2016, total cargo activity reached 8.33 million tons, the highest in at least 30 years.
Port staff expect the strong cargo activity to continue for the remainder of the year.