The Jacksonville Port Authority (JAXPORT) maintained steady container volumes and overall revenue during fiscal year 2020, despite the impact the coronavirus pandemic has had on the global economy. JAXPORT’s fiscal year runs October 1 – September 30.
More than 1.277 million TEUs moved through JAXPORT in FY2020, down just 5% from 2019, which was a record year for container volumes at the port.
Despite major global supply and demand challenges due to COVID-19, the port’s revenue remained steady in FY20, at more than $65.1 million, down only 7% for the year, an impact buffered largely by the port’s diversification across multiple trade lanes and lines of business.
“We are extremely grateful to our customers for their partnership as we all continue to work together to adjust to the impact the pandemic has had on the global supply chain,” said JAXPORT CEO Eric Green. “Our employees, union workers, tenants, and port partners have all done a tremendous job keeping the goods we all depend on moving uninterrupted through JAXPORT during this time. Thanks to their dedication and hard work, we are able to end the year on a relatively high note considering the circumstances.”
Major announcements in FY20 included:
- The federal project to deepen the Jacksonville shipping channel to 47 feet from its current depth of 40 feet is fully funded through JAXPORT’s Blount Island Marine Terminal. The project creates or protects 15,000 jobs and is anticipated to be complete in 2022, three years ahead of its original schedule.
- JAXPORT and SSA Atlantic broke ground on phased yard improvements at the existing SSA Jacksonville Container Terminal at Blount Island that will enable the facility to handle up to 700,000 TEUs annually. Berth enhancements at the terminal are scheduled to be complete by the end of 2021 and will enable the facility to simultaneously accommodate two post-Panamax vessels.
- Volkswagen Group of America (VWGoA) renewed its commitment to Jacksonville, keeping its import facility and Southeastern distribution center in the city for at least the next three years. VWGoA’s Jacksonville operations support 100 area jobs.