Strong Steel Imports, Chemical Exports Produce Year-End Cargo Gains

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A more than 38 percent surge in imported steel amid other break-bulk cargo gains led the Port of New Orleans to a third straight year of healthy tonnage increases. Overall, total general cargo tonnages at the Port grew 8.6 percent to 7.55 million tons in 2012 compared to the same period one year ago. The Port imported more than 1.922 million tons of steel in 2012, compared to 1.389 million tons in 2011. Other top performing commodities included chemical exports, which rose 5.4 percent to 1.75 million tons and poultry and other agriculture exports, which grew by 22.8 percent to 496,000 tons.

Mississippi River Intermodal Terminal and Yard Improvements Underway Projects Will Enhance Port’s Freight Rail Capabilities

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The Board of Commissioners of the Port of New Orleans has given notice to AECOM Technical Services Inc. to begin the design of the Port’s new Mississippi River Intermodal Terminal Project. The Port received a $16.7 million federal transportation grant last year for improvements to the Napoleon Avenue Intermodal Terminal. The project site is an existing 12-acre rail yard that services the adjacent Napoleon Avenue Container Terminal. The new rail yard will be re-configured and modernized into an efficient intermodal container transfer facility (ICTF). Construction will begin in December and is expected to take 12 months to complete.

Governor Jindal Signs Legislation to Support Ports and Attract New Companies to Louisiana

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Governor Bobby Jindal signed legislation that supports Louisiana’s ports by expanding a tax cargo credit for certain port projects. SB 122 — authored by Senator Norby Chabert— modifies the Investor Tax Credit (ITC) and the Import-Export Tax Credit (IETC) by expanding the types of projects that qualify for exemptions. Projects that will qualify for the credit include warehousing and storage, port operations, marine cargo handling, ship building and repairs and oil and gas activities. The credits will benefit Louisiana companies that import or export goods through Louisiana ports, making them more competitive in the global marketplace. The credit modifications will help bring new cargo into Louisiana ports, attracting additional shipping lines and services into Louisiana's competitive market from other states.