b'26American Journal ofTransportation ajot.com(STRONGcontinued fromminalssufferedfromlower page 2) volumes,whichcouldbe expandeditstotalnetworktoexplained by substantial inven-90 terminals in 60 ports. Thesetories in the retail market. These includeformerFMTtermi- are largely being depleted and nals in such ports as Hamilton,the company expects volumes BurnsHarbour,Milwaukee,toresumeatmorenormal Eastport(Maine),PortMana- levels in the coming quarters.tee, Tampa, and Lake Charles. With respect to bulk and Whilecommentingongeneralcargoes,LOGISTEC Q12023financialresultssaiditwasconfidentwith fromthecompanysmarinetheremainderoftheyear andenvironmentalservices,given the diverse nature of the MadeleinePaquinindicatedproductswehandleandthe thattheacquisitionallowedbreadth of our network reach, LOGISTEC to gain a signif- we are able to adjust to market icant foothold in key markets.fluctuationsandareoptimis-We will leverage the strengthtic about sales volumes going of our terminal reach to sup- forward.With11additional portreliablesupplychainsterminalsfromourFMT forourcustomersandcon- acquisition, we are well pre-tinue to drive growth. paredtodeliveroperationalPort of Houstons Bayport Container TerminalDuring the first quarter ofexcellence to marine shippers 2023,consolidatedrevenueacross North America. (GULFcontinued fromThe large fall in day ratestionsofcontainerized,dry totalled$158.9million,anTheoutlookfor2023ispage 25) compared to the 2022 peak forbulkandnon-containerized increaseof$17.5millionorpositivewithgoodmomen- cementisprimarilysourcedcontainer ships and dry bulkgeneralcargocarriedon 12.3%overthesameperiodtumforbothourmarineandin Egypt and Turkey. carriersandcompetitionforMPVs have been fairly stable in2022.Revenuefromtheenvironmentalsegments,con- Stiefel says that Houstoncargoes has resulted in multi- in the long term, except for marineservicessegmentcluded Madeleine Paquin. Wehas also enjoyed a tremen- purposevessels(MPV)alsocontainerizedcargoin2021 reached$121.5millioninwill be focusing on a smoothdousamountofaluminumsufferingadecline,hesays.seeingastrongincreasedue 2023,up$9.8millionorintegration of our FMT acquisi- cargo in the past year. Therobustprojectcargoto the supply-demand imbal-8.7%comparedwith$111.7tion, while offering new optionsWere very excited aboutdemandisonlyslowingtheance of container ships caused millionforthecomparativetocustomersandconnectingthe variety of general cargo todecline,andwestillexpectby congestions. period of 2022. Revenue fromthemtobroadermarkets.AssupplementHoustonscoreratestofallfurtherin2023- ThismeantthatMPVs theenvironmentalservicesmentioned,althoughwearebusinessofsteel.Seeinga24. MPV day rates to remainwereabletotakeadvan-segmentwas$37.4million,seeingaslowdownincon- wide range of cargo, not justabove pre-COVID levels. tageoftheoverspill,but up$7.7millionor25.8%intainers during the first quar- steel brings strength throughTheoutlookforMPVthosecapacityissueshave the first quarter of 2023. ter, we do expect volumes todiversification.demandremainssteadyforunwound since then.The marine services seg- return to more stable levels,Stiefelwroteinamid- the long term with an averageFirst quarter 2023 remained ment continued to see strongalbeitwithsubstantiallyMay memo to AJOT that char- growthof1.9%peryeartothe same as 2022: Newbuild-demand in the energy sectorreduced storage revenue. Theterratescontinuetoweaken2027. The renewable energyingactivityremainslimited in the U.S. Gulf Coast region,strengthofouractivitiesinwithincreasingcompetitionindustrywillbeoneofthewithonlyfiveneworders whichcompensatedforthethe U.S. Gulf is expected tofor cargoes from the containermostimportantdriversofreportedinthefirstquarter slowerstarttotheyearincontinue and should make upand bulk carrier sectors. TheMPV demand in the follow- of2023.Smaller-sizedves-other ports. for some expected shortfallscharter market is expected toingyearsdespiteaweakersels and large-crane-capacity Intermsofcontainers,inothergeneralcargoandremain healthy mainly due toenvironmentforglobaleco- (GULFcontinued on LOGISTECnoteditster- bulk terminals. project cargo demand. nomicgrowth.Thepropor- page 27)CHANGECHANNELYOURMove cargo more efficiently. Scale operations for future growth.Big changes are happening. The Freeport Harbor Channel will soon be the deepest in Texas with a new modernized berth and cranes to welcome larger vessels and over 500 acres of land available for development.Its time to change your channel.1.800.362.5743 | PortFreeport.com'