The Port Authority of Guam reported this week that while fewer containers are moving through the island’s only commercial seaport, its financial position has improved as of July.
According to their report, the port handled fewer than 70,000 containers through the end of July, about 2,000 fewer than the same period last year, a 2.2% decrease.
Despite the drop, year-to-date results shifted to a positive net income of about $761,000, reversing a loss reported in June.
Officials noted that expenses continue to rise, with year-to-date operating costs reaching $49.4 million, higher than the budgeted $47.8 million.
Board members also acknowledged receiving a formal letter from Speaker Frank Blas Jr. regarding a proposed bill. Members discussed how such communications should be handled in future meetings, and agreed the matter would need further review before any official response.
