Port Authority Sees High Revenues

Business is booming for the Alabama Port Authority, AL.com reports. In his monthly report to the board, Director and CEO Doug Otto listed wins in various sectors of the port’s business, adding up to a very positive result for the fiscal year so far. “Year to date, our gross income now sits at $52.8 million, which is $21 million ahead of where we thought we would be,” Otto told the board. “Overall, we have achieved 83.2% of our annual budget with six months remaining in the year. So, 83.2% halfway through.” Contributing factors included a strong March. Otto said monthly revenues of $22.2 million were $4.2 million better than projected, while expenses came in $1.7 million under budget. Bright spots in March included the Pinto Island steel terminal, which handled 252,808 tons, more than 80,000 tons above expectations. Otto said steel tonnage for the year overall was even with 2025. The terminal railroad handled 14,116 cars in March, which was more than 4,600 above expectations and 4,017 more than the same period last year.