Port of Palm Beach is profitable for fourth straight year

Tropical Shipping, the port's largest tenant, exports to the Caribbean.

Tropical Shipping, the port’s largest tenant, exports to the Caribbean.

The Port of Palm Beach has made a profit for the fourth year in a row, and its revenues climbed 44 percent from 2009 to 2015, Deputy Port Director and Chief Financial Officer Paul Zielinski said Thursday.

The Riviera Beach-based port  released its financial report for fiscal year 2015 at its board meeting. The full report can be found at www.PortofPalmBeach.com

Profits were $1.6 million for each of the last two years, Zielinski said. Expenses were $200,000 less than than in 2006.

Revenues reached $16.1 million in the fiscal year, up from $15.8 million in 2014.

Most of the port’s income is from wharfage, dockage, passenger charges and rental income. It processes more than $7 billion in commodities, over 2 million tons of cargoes and more than 350,000 cruise passengers annually.

Its major cargoes include more than 1.2 million containers of goods as well as sugar, molasses, fuel oil, asphalt and recycled steel.

 

 

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