For the second consecutive year, the Californian Port of Redwood City has announced record-breaking results, driven by cargoes to supply Silicon Valley’s construction industry.
The port’s activity highlights its focus on construction materials to the area, with top ranking materials imported including sand, aggregates, gypsum, slag and bauxite, with scrap metal as the primary export.
In the fiscal year ending 30 June 2019, the port’s cargo tonnage totalled 2.65 Mt, representing an increase of 14.7% on the prior milestone year in FY 2017-18.
This performance translated into US$9.3M in revenue, nearly US$700,000 higher than the previous year’s financial performance of US$8.6M.
The port authority said the fiscal year results demonstrate continued regional growth and reflect the port’s strategic location fuelling cargo to Silicon Valley’s construction sector.
“Following a record breaking year in FY 2017-18, these results reinforce the port’s significance supporting economic growth in Silicon Valley and the Bay Area,” said Lorianna Kastrop, chair of the Port Commission.
“Strong maritime trade and cargo supports the activation of recreational waterfront uses, helps maintain city services, and increases emergency response resilience.”
Kristine A. Zortman, executive director of the Port of Redwood City, said: “The port’s growth in cargo and revenue for the fiscal year is a result of our tenants, strategic partners, and the port team in driving our phenomenal success.
“The port is a proud community entrepreneurial enterprise and we look forward to continuing to strengthen collaborations with our local, regional and federal partners.”