Embed Size (px)
Citation preview
Port of New Orleans
Pat GallweyChief Operating OfficerPort of New Orleans
Counselors of Real Estate Oct. 13, 2009
Port of New Orleans 04/19/23
Business ProfileBreakbulk Cargo
• Traditional Breakbulk
• Heavy Lift/ Project Cargo
• Refrigerated Cargo
Container Cargo
Cruise
Industrial Property
Port of New Orleans
Louisiana ports face heavy competition from multiple, large, well-capitalized ports in the Midwest and Regional container markets
Includes: LA, AR, MS, TN, MO, IA, IN, and IL
LA/LB
Seattle & Tacoma
NY
Hampton Road
Charleston & Savannah
MobileHouston
Port of New Orleans
Railroad Connections
The Port of New Orleans is the only U.S. Seaport served by six Class One rail roads
Port of New Orleans
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.
Port of New OrleansPort of New Orleans
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
Port of New Orleans
New Orleans Cold Storage Dockside Warehouse
Port of New Orleans
Industrial Real Estate
August 2005
Tenants: 47
Annual Revenue: $2.9M
August 2009
Tenants: 46
Annual Revenue: $3.2M
Port of New Orleans
Katrina Damage and Recovery
Port of New Orleans
Aug. 29, 2005: Katrina Strikes
Port of New Orleans
Katrina Flooding
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
04/19/23Port of New Orleans
Port of New Orleans
Industrial Canal (INHC)
Mississippi River
Mississippi River-Gulf Outlet (MRGO)
Port of New Orleans
Facility Damage
Total Estimated Damages:
$247 million
Actual Cash Value
$123 million
Insurance Recovery
$123 million
Potential FEMA Recovery
$30 million - $40 million
Port of New Orleans
Mississippi River- Gulf Outlet Closure
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.
Port of New Orleans
Lingering Impact of MR-GO Closure
Port of New OrleansPort of New Orleans
Port Cargo Tonnage figures
Port of New OrleansPort of New Orleans
Cruise Embarkations/ Disembarkations
Port of New Orleans
Port of New Orleans Master Plan
Port of New Orleans 04/19/232020 Master Plan
Phase I + Phase II+ Phase III
Napoleon Container Terminal
Maximum Capacity: +1 million teusEst. Cost: $240 million
Port of New OrleansPort of New Orleans
• 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%.
A Window of Opportunity: Cruise
Port of New Orleans
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
Port of New Orleans
Erato Street Cruise Terminal & Parking Garage
Port of New Orleans
Julia Street Terminals 1 &2
Port of New OrleansPort of New Orleans
Riverfront Planning
Port of New Orleans
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.
Port of New Orleans
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.
Port of New Orleans
Example: TCI
Port of New Orleans
Pat GallweyChief Operating OfficerPort of New Orleans
Counselors of Real Estate Oct. 13, 2009
