Lake Charles Harbor board hears April financials, FEMA receipts and Corps funding boost

Port finance and operations staff presented April financial results and project updates at the Lake Charles Harbor & Terminal District meeting May 20.

Cameron reported April revenues of about $3,500,000 and an unfavorable variance of roughly $900,000, with cash flow around $800,000. Unrestricted cash increased from December 2023 by about $5,600,000, and governmental receivables declined by about $14,800,000 after FEMA/GOSEP payments. Cameron said the port received a payment of about $7.7 million in the past month related to FEMA GOSEP activity.

Channing described a recent Army Corps of Engineers allocation that added $16,500,000 to the ship channel beyond the president's budget, bringing available Corps funds to about $54,100,000; Channing said Lake Charles had requested $49,000,000. He also said the port is expected to receive an additional $775,000 from returned Harbor Maintenance Trust funds under that allocation.

Operations and engineering staff described recent cargo movements and construction progress. Todd said recent activity at City Docks included aluminum hydrate transfers (~3,300 tons), bagged cement and coke shipments, and upcoming shipments including a 15,000-ton hydrate and a 13,000-ton bag rice load. Nick reported progress on City Docks projects (First 4, 5 and 6), warehouse construction, BT1 shiploader commissioning, and a $3,000,000 PIDP grant for paving and a new laydown yard; he said staff are also pursuing EPA Clean Ports grant opportunities and preparing the Port Priority Program submission.

Why it matters: the FEMA receipts and Corps allocation materially affect the port's cash position and capital planning; ongoing capital projects and grant applications will shape the port's capacity to handle larger cargoes.

The board asked no substantive questions during the finance report and then moved to other agenda items, including a development update and engineering progress reports.