Jaxport box business receives February bump

Overall container traffic is down at Port of Jacksonville for the first five months of fiscal year 2015.    More than 71,850 TEUs crossed the docks at the Port of Jacksonville in February, a 5 percent increase from the same month in 2014, according to cargo statistics provided by the port authority. For the first five months of the fiscal year, however, container volume is down 3 percent to 372,253 TEUs.
   In fiscal year 2014, ended Sept. 30, JaxPort’s container volume grew only 1 percent to 936,973 TEUs.
   The weak volume growth stands in contrast to several other East Coast container ports that have experienced a boom in business for the past year, with increases accelerating into the double-digits during the past six months due heavily to cargo diversion from congested West Coast ports.
   JaxPort, the 12th largest container port in the nation, appeared to benefit from the diversion too, with Asia-Pacific imports growing 20 percent for fiscal year 2014.
   But those gains have been canceled out by a significant slowdown in cargo business with Puerto Rico, which is having economic troubles, and carriers relocating some Caribbean business to another port.
   On a pier-container basis, JaxPort lifted 35,924 boxes in February, a 3 percent gain from a year ago. Ports generate revenue from on lifts, as opposed to TEUs.
   Other lines of business at JaxPort have also fared poorly so far this fiscal year. The port’s vehicle business was up 6 percent in February to 45,165 units, but is down 2 percent for the fiscal year to 255,015 units. Breakbulk cargo fell 34 percent to 46,709 tons in February and 17 percent to 268,275 for the period. Bulk cargo was down 9 percent in the month to 86,344 tons. Bulk has grown 5 percent for the period to 458,294 tons.
   Container trade represents 61 percent of the JaxPort’s volume in terms of tonnage, followed by vehicles at 16 percent.
   Jacksonville city officials are betting on new infrastructure investments to attract more shippers to the Northeast Florida port. An Intermodal Container Transfer Facility at the Dames Point Marine Terminal, to be operated by the CSX railroad, is scheduled to open later this year. Initial design and engineering work to deepen the St. John’s River from 40 to 47 feet is also underway.