Big Numbers for Redwood City

The Port of Redwood City recently posted record cargo numbers, reaching 2 million metric tons in the third quarter of its current fiscal year and generating $7.1 million in revenue.

It is a 22 percent increase when compared to the same period last year, and nearly $900,000 more than the previous year’s financial performance of $6.2 million.

“Following a record-breaking year in FY 2017-18, these results reinforce the Port’s significance supporting economic growth in Silicon Valley and the Bay Area,” said Lorianna Kastrop, Port Commission chair. “We anticipate strong results to continue through the rest of the fiscal year.”

Vessel calls are also up 29.8 percent from the previous year, moving imports from nations such as Australia, Canada and Mexico, exports to Korea, Vietnam, Malaysia, India and Bangladesh.

The record showing helped the port garner a strong A- bond rating by Standard & Poor’s, which can spark continued reinvestment in the port.

By Karen Robes Meeks