The capital spending programme for the coming fiscal year which begins on July 1 2013’ is one of the largest in port history and earmarks more than US$380m for container terminal and transportation upgrades, including:
- More than US$99m at the TraPac container terminal for backland improvements to support future terminal automation, as well as construction of a facility to provide on-dock rail capabilities.
- US$41.5m in construction at China Shipping Terminal which includes completion of 375 linear feet (114 m) of expanded wharf and backland improvements.
- Almost US$96m for the installation of Alternative Maritime Power™ stations at major container terminals, including APMT, APL, Evergreen, Yang Ming and China Shipping.
- More than US$15m for other terminal projects, including wharf and backland development at APL, equipment and wharf upgrades at Evergreen, and pavement replacement at APMT.
- Almost US$78m related to construction at the Berth 200 rail yard.
More than US$31m also has been allocated to Los Angeles waterfront projects, including US$20m to construct a new waterfront promenade, plaza and town square as part of the new Downtown Harbour project that is scheduled for completion next summer (2014).
Also included in the budget is US$8.7m for a fibre optics project that will enhance the interconnectivity of vital security information throughout the port complex.
The newly adopted budget’s operating revenues of US$413m are up 3.1% percent from the previous year, while operating expenses are down 1.9% to US$209.1m, with no significant increases in the port employee headcount.
The 2013-14 budget builds on a year in which the port made significant progress on a number of fronts, including completion of its Main Channel Deepening Project that now allows accommodation of new modern, larger vessels at the Port; the significant reduction of elemental carbon concentration in the Port area to its lowest levels since data collection began in 2005; and maintaining the Port’s strong financial position and its “AA” bond rating – the highest rating given to a port without taxing authority.