Delaware taxpayers receive $200 million in direct value – News

Published: Thu 25 August 2022, 14:21

Last update: Thu 25 August 2022, 14:23

UAE’s Gulftainer will next month celebrate the fourth anniversary of a 50-year concession agreement managing and operating the Port of Wilmington in Delaware.

Throughout difficult times, GT USA Wilmington (GTW) diligently pursued new business through its global network and built new facilities to improve customer services. He ensured that shipments of fresh food and other basic necessities were delivered quickly, without interruption, to supermarket shelves. Throughout the pandemic and beyond, the port has remained fully operational, without delays, retaining all employees.

Joe Cruise, CEO of GT USA Wilmington, said, “Since taking over the operation, we have focused our efforts on securing additional and new business around the world, streamlining operations and improving productivity. Increased volume of clementines from Morocco, grapes from Chile and lumber from Europe, and new products of plywood from Chile, rice from Thailand, juice from China and Turkey, glycerine from Malaysia for manufacture of hand sanitizer, as well as several other products. New shipments originated from GTW’s global network and are imported through Wilmington for the first time. Stay tuned for more new cargo announcements to come. No stone is left behind. Despite our challenges, business is growing and jobs are being created. Delaware is rapidly developing a reputation as an efficient international gateway to the Northeastern United States, enabling the creation of competitive local jobs. he said, adding, “We are proud of our continuous efforts to improve the environment. In September 2021, we celebrated the commissioning of our five new electric rubber-tyred (e-RTG) gantry cranes with zero emissions, significantly reducing pollution and increasing efficiency as part of our new storage station state-of-the-art refrigerated containers. .”

Despite incurring unforeseen costs, GTW has made timely payments to its lenders and remains steadfastly committed to Delaware.

The year 2022 has seen a robust increase in throughput. The port’s 2021-2022 winter fruit season has been very successful, with imports of South American and Moroccan products increasing by more than 140% compared to the previous season. Additionally, the Port of Wilmington recently received its first-ever shipment of summer fruit (establishing the start of year-round port fruit services). These recent successes have helped increase bulk cargo volumes by 56%. These positive developments have been achieved through GTW’s highly productive operational and commercial capabilities.

In the three years since accepting the challenge to operate the historic Port of Wilmington, GTW has incurred $251 million in operating expenses, including $202 million in direct labor costs .

The company relieved the state of the need to subsidize the public port annually by $15-18 million, assumed an increase of more than $56 million in operating costs implemented within weeks of accepting the the concession and paid more than $10 million in state royalties and modernized the port with more than $88 million in investments in capital improvements and equipment. In the first three years alone, GTW has delivered more than $200 million in direct incremental value to the State of Delaware by investing in long-term improvements and incurring significant legacy costs, additional pandemic-related costs and an increase in port operating costs of more than 45 percent. This excludes the indirect value of community businesses that benefit from increased volumes through the port.

The $88 million in capital improvements and equipment to modernize the port include extending the crane tracks, on which the large ship-to-shore cranes run, from berths one through four to berths five and six. The port’s storage capacity now stands at over one million square feet. The yard’s densification program has increased container storage by more than 85% to 600,000 TEUs. Additionally, the implementation of GTW’s state-of-the-art terminal operating system has significantly increased efficiency, transparency and customer satisfaction.

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