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5 Highlights of the Port of Houston’s 2020 Operating and Capital Budget

PortandTerminal.com, November 14, 2019

The Fiscal Year 2020 Operating and Capital Budget was approved Monday during the Annual Budget Workshop, a special meeting of the Port Commission of the Port of Houston Authority

HOUSTON, TX – The Fiscal Year 2020 Operating and Capital Budget was approved Monday during the Annual Budget Workshop, a special meeting of the Port Commission of the Port of Houston Authority.

5 Highlights of the approved plan follow

  1. Overall, the Port Authority expects the American economy to grow by +1.9% in 2020, down from +2.3% in 2019.
  2. The port’s total operating revenues are forecast to increase in 2020 by $27 million to $425 million, an increase of +7% vs 2019. Almost all (81%) of the growth will come from an increase in container revenues.
  3. Container TEU’s are forecasted to grow by +5% in 2020 to a total of 3,083,000. Container exports will account for most of the growth next year.
  4. Operating and G&A expenses are expected to increase by $28 million to $321 million in 2020. About 40% of the increase in expenses is going to salaries and benefits due to an increase in headcount and employee reward programs. Note: the port is expecting to add 25 new people in 2020.
  5. The Port Authority will have a capital budget of $232 million in 2020 which will be funded from operating cash flows. About half of the capital budget has been earmarked for “Strategic Projects” that will support new growth opportunities.

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