Port of Wilmington, Over US$ 200mn of revenues provided to Delaware in first three years of operations
October 2022 will mark GT USA Wilmington’s (GTW) fourth year into a 50-year concession agreement managing and operating the Port of Wilmington in Delaware.
The year 2022 has seen a robust increase in throughput. The Port’s 2021-2022 winter fruit season was highly successful with imports of both South American and Moroccan produce rising over 140% on the previous season.
Additionally, the Port of Wilmington recently received its first ever shipment of summer fruit (establishing the start of the port’s year-round fruit services.)
These recent successes have contributed to the increase in bulk cargo volumes by 56%.
These positive developments have been achieved by GTW’s highly productive operational and commercial abilities, according to a press release.
In just the first three years GTW has provided over US$ 200mn of direct additional value to the State of Delaware by investing in long term improvements and by bearing significant legacy costs, additional pandemic related costs and an operating cost increase of running the port of over 45%.
Despite having unforeseen costs imposed upon it, GTW has made timely payments to its lenders and remains resolutely committed to Delaware.
“Since taking over the leadership of the operation we have focused efforts on securing additional and new business from all corners of the globe, streamlining operations and improving productivity,” asserted Joe Cruise, CEO, GT USA Wilmington.