Paul Anderson Review 2024

Dear Members of the Board,

As we close out the fiscal year, I am pleased to share the significant milestones and progress achieved at Port Tampa Bay. This year has been defined by continued growth, operational expansion, and key leadership initiatives that have strengthened both Port Tampa Bay and our industry as a whole. Below are some key highlights:

Expansion and Infrastructure Development

Our container business continues to grow in line with Florida’s population, driven by increased demand for supply chain efficiencies along the Tampa Bay/Orlando I-4 Corridor. To accommodate this growth, we’ve made substantial investments in infrastructure.

This year, we added three additional Sumitomo cranes, expanding our Post-Panamax Ship-to-Shore Gantry Cranes from two to five. Along with our terminal operator, Ports America, we modernized the container terminal with a new gate complex featuring advanced “Way in Motion” (WIM) technology, optical character recognition (OCR), automated gate arms, and an office building for remote staff. We also completed 25 acres of heavy-duty container paving and began construction of 30 additional acres of paved storage, with a berth extension from 3,200 to 4,500 linear feet.

While containers remain our fastest-growing segment, we’ve also seen significant expansion in bulk and breakbulk business. Steel product handling has increased by 44%, and dry bulk cargo, including imports like cement, granite, limestone, gypsum, and exported phosphate fertilizer, has risen by 12%.

Investing for the Future

Over the past year, we leased 40.5 of the remaining 52.5 acres of Port Redwing to new partners. Ajax Paving, Redwing Terminals (Bluewater), and Pangaea collectively leased 26 acres, while Redwing Materials secured 14.5 acres. Additionally, we executed three leases with Agunsa this year: 15 acres at Hookers Point, with a Right of First Opportunity for the adjacent 18 acres and the 12.3-acre Intermodal Yard; 18 acres at Eastport, with the option for an additional 9.68 acres; and an office lease at our Channelside Drive location for 1,827 square feet.

Enhancing Financial Stability

We’ve made strategic improvements to our financial operations, with Port Tampa Bay receiving an upgraded rating from Fitch to A+ and Stable. This boost will support future capital improvements. Additionally, Michael Poole’s recruitment as our new CFO has bolstered our financial standing. With his extensive experience in Florida’s seaports, Michael has played a pivotal role in strengthening our financial management and risk profile.

Leadership in the Maritime Sector

This year marked my final term as Chairman of the American Association of Port Authorities (AAPA), during which I’ve actively represented Port Tampa Bay on national and international stages, advocating for critical policy initiatives and infrastructure investments. Several members of our leadership team also chair various AAPA committees, including those for Security, IT, Cruise, Facilities, and Engineering, further highlighting our commitment to excellence in port operations, safety, and security.

Environmental and Sustainability Initiatives

We remain committed to sustainable port operations. This year, we hosted the Fourth Annual Great Port Clean-Up in partnership with Keep Tampa Bay Beautiful and the Propeller Club, with over 1,000 volunteers removing more than 100,000 pounds of trash from local waters. We also partnered with Audubon Florida and other key organizations for another successful bird nesting season on our dredge disposal islands—one of Florida’s largest nesting sites. Additionally, we hosted a sold-out Environmental-themed harbor tour and participated in the second annual American Association of Port Authorities POWERS summit in Tampa. Through these initiatives, we continue promoting the Blue Economy, in partnership with the Florida Ocean Alliance and the Florida Ports Council.

Security and Information Technology

Our Security and IT departments remain at the forefront of innovation, maintaining our accreditation from the National Maritime Law Enforcement Academy—the first port in the U.S. to achieve this designation. Our Chief Information Officer and Chief Security Officer have been invited to speak at national and international security conferences on topics such as cybersecurity. This recognition highlights our commitment to evolving security protocols, leveraging federal and state grants to supplement our significant investments. Furthermore, we hosted our annual Hurricane Exercise and Safety Summit with emergency planners and responders and routinely participate in safety drills throughout the year.

Looking Ahead

On August 14, three years after the General Reevaluation Report process began, the U.S. Army Corps of Engineers approved Port Tampa Bay’s plan to deepen our shipping channels. This multi-phase, multi-year project will deepen key navigable waterways from 43 to 47 feet—a generational project ensuring we remain competitive, supporting central Florida’s growth. The last full channel-deepening project was in the 1970s, and this one will help us keep pace with Gulf ports in Texas, Louisiana, and Alabama, ensuring the continued strength of our supply chain.

While FY 2023-2024 brought many successes, our focus remains on the future. We are preparing for further expansion, continuing to diversify our portfolio, and reinforcing our commitment to operational efficiency and environmental sustainability. These strategic initiatives will ensure that Port Tampa Bay remains Florida’s leading port, driving economic growth for the state and the broader Southeast region.

Sincerely,

Paul Anderson
President & CEO, Port Tampa Bay