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Pat Gallwey Chief Operating Officer Port of New Orleans Counselors of Real Estate Oct. 13, 2009

The Future of The Port of New Orleans. Pat Gallwey Chief Operating Officer Port of New Orleans Counselors of Real Estate Oct. 13, 2009. Business Profile. Breakbulk Cargo Traditional Breakbulk Heavy Lift/ Project Cargo Refrigerated Cargo Container Cargo Cruise

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Pat Gallwey Chief Operating Officer Port of New Orleans Counselors of Real Estate Oct. 13, 2009

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  1. The Future of The Port of New Orleans Pat Gallwey Chief Operating Officer Port of New Orleans Counselors of Real Estate Oct. 13, 2009

  2. Business Profile • Breakbulk Cargo • Traditional Breakbulk • Heavy Lift/ Project Cargo • Refrigerated Cargo • Container Cargo • Cruise • Industrial Property

  3. Louisiana ports face heavy competition from multiple, large, well-capitalized ports in the Midwest and Regional container markets

  4. Railroad Connections The Port of New Orleans is the only U.S. Seaport served by six Class One rail roads

  5. Inland Waterway Connections The Port of New Orleans is connected to 14,500 miles of inland waterways through the Mississippi River, its tributaries and the Gulf Intracoastal Canal.

  6. Napoleon Avenue Container Terminal • Completed 2003 • Two Berths, 1,400 feet long • Project Depth: 45 feet • 4 gantry cranes installed • 2 gantry cranes ordered • 61 acre terminal • 7 acre near-dock railroad terminal • Connected to 6 railroads by local short-line • Served by dedicated port truckway • Four shipping lines with regular services • Container on barge service • Room for incremental expansion or for shipping line to build its own terminal

  7. New Orleans Cold Storage Dockside Warehouse

  8. Industrial Real Estate August 2005 Tenants: 47 Annual Revenue: $2.9M August 2009 Tenants: 46 Annual Revenue: $3.2M

  9. Katrina Damage and Recovery

  10. Aug. 29, 2005: Katrina Strikes

  11. The federal levee system protecting the City was breached in several places About 80% of the city was flooded All flood water had to be pumped out of the city Katrina Flooding Port of New Orleans

  12. Industrial Canal (INHC) Mississippi River-Gulf Outlet (MRGO) Mississippi River

  13. Facility Damage Total Estimated Damages: $247 million Actual Cash Value $123 million Insurance Recovery $123 million Potential FEMA Recovery $30 million - $40 million

  14. Channel closure means that Mississippi River is the only access to the Port of New Orleans. Reduces the utility of Port cargo handling and industrial sites on Industrial Canal. Federal mitigation funds have not yet materialized. Mississippi River- Gulf Outlet Closure

  15. Lingering Impact of MR-GO Closure

  16. Port Cargo Tonnage figures

  17. Cruise Embarkations/ Disembarkations

  18. Port of New Orleans Master Plan

  19. Napoleon Container Terminal Phase I + Phase II+ Phase III Maximum Capacity: +1 million teus Est. Cost: $240 million 2020 Master Plan

  20. A Window of Opportunity: Cruise • Fastest growing segment of the leisure travel market. • Growing at a rate of 3.8 percent per year. • Cruise lines 35 new ships to their fleets by 2012. • New Orleans’ cruise ship occupancy rate is 104%.

  21. New Orleans Passenger Market • Over 100 million potential passengers within a 750 mile radius of New Orleans ‑ about 34% of the Nation’s population • Approximately 47 million of that number are within an 8 hour drive of New Orleans • Easy road access to New Orleans via six interstates I‑10, I‑12, I‑49, I‑55, I‑59, and I‑65 • Airline access adequate ‑ 126 flights per day to 33 cities with 15,959 seats

  22. Erato Street Cruise Terminal & Parking Garage

  23. Julia Street Terminals 1 &2

  24. Riverfront Planning

  25. Louisiana Shipper Tax Credit • Louisiana exporters or importers ship cargo through Louisiana public ports are eligible for a per-ton credit based on total cargo tonnage shipped or received during the preceding calendar year. • Qualifying Louisiana businesses ship approximately 1.6 million tons per year. • A $5 per-ton tax credit provides incentive to redirect cargo from competing ports to Louisiana ports.

  26. Sell underperforming properties • Normally the Port leases its industrial properties. • Our board is accepting offers to purchase industrial properties if they are not located on the waterfront and if the purchase can spur economic development. • Several existing tenants have come to us seeking to purchase the property in order to take advantage of GO Zone bonds. • Property sales reduces Port’s capital needs and allows us to channel capital to our core business segments.

  27. Example: TCI

  28. The Future of The Port of New Orleans Pat Gallwey Chief Operating Officer Port of New Orleans Counselors of Real Estate Oct. 13, 2009

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