Latest news with #EricGreen
Yahoo
17-02-2025
- Automotive
- Yahoo
Jaxport completes vehicle berth expansion
The Jacksonville Port Authority said it has completed a yearlong construction project to expand vehicle Berth 22 at the Blount Island Marine Terminal. The berth is the first of two vehicle berth projects in a $60 million initiative to increase efficiencies and accommodate additional vehicle vessel calls. The expansion will enable Berth 22 to accommodate larger vehicle vessels 750 feet in overall length. Construction is also underway on a new vehicle berth at Blount Island, to be completed in early 2027.'Maintaining congestion-free vessel facilities as cargo volumes grow is an important part of our short and long-term planning processes,' said Jaxport Chief Executive Eric Green, in a release. 'These upgrades allow us to serve our auto customers more efficiently while providing additional capacity for future growth, so we can continue to build on our position as one of the nation's top vehicle-handling ports.' The Florida Department of Transportation provided 75% of the project's funds with a 25% match by the port. Jacksonville is Florida's largest container port and also handles vehicle and breakbulk cargo. Auto processors Amports and Southeast Toyota Distributors moved more than 509,000 vehicles in more articles by Stuart Chirls Helicopter lifts crew to safety from grounded container ship UPDATE: Photo of damage to US aircraft carrier in Mediterranean collision Analyst: Shippers' tariff fears could keep trans-Pacific container rates up during February 'dip' Trump tariffs see retailers boosting US container imports The post Jaxport completes vehicle berth expansion appeared first on FreightWaves.
Reuters
13-02-2025
- Business
- Reuters
West Pharmaceutical forecasts 2025 results below expectations, shares drop
Feb 13 (Reuters) - West Pharmaceutical Services (WST.N), opens new tab forecast full-year profit and revenue below Wall Street estimates on Thursday due to a strong dollar and as the medical equipment maker's clients reduce inventory levels, sending its shares down 18% premarket. It forecast 2025 revenue of between $2.88 billion and $2.91 billion, with the midpoint below analysts' estimates of $3.04 billion, according to data compiled by LSEG. The company expects 2025 adjusted earnings per share of between $6 and $6.20, compared with estimates of $7.44. "The impact of destocking continues to moderate," CEO Eric Green said in a statement. West Pharma's revenues and order books have been under pressure from biotech clients depleting inventories they had built up during pandemic-era supply chain disruptions. However, the company's fourth-quarter profit and revenue both came in above expectations, due to rising demand in its business that makes cartridges and syringes used to manufacture injectable therapies. Revenue in the proprietary products unit came in at $613.9 million, above analysts' average estimates of $597.8 million. The segment makes up more than half of the company's total revenues. The company reported total revenue of $748.8 million for the fourth quarter ended December 31, compared with estimates of $740.5 million On an adjusted basis, the company posted a profit of $1.82 per share, compared with estimates of $1.72. Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here.
Yahoo
06-02-2025
- Business
- Yahoo
Cost of power line project balloons as JEA and JAXPORT work out cost-sharing agreement
The cost to raise power lines over the St. Johns River to allow larger cargo ships to deliver goods to JAXPORT continues to balloon. The promise of attracting larger cargo ships is the driving force behind a plan to raise the power lines near the Dames Point Bridge by 50 feet. >>> STREAM ACTION NEWS JAX LIVE <<< It was one of the projects highlighted during this year's State of the Port presentation. 'Raising the power lines to give the overhead clearance that's needed to accommodate those ships, you know, we're working closely with JEA, and we're expecting for that project to actually be completed by the end of 2026,' said JAXPORT CEO Eric Green. The latest cost analysis puts the total price tag on the project at $117 million, which is more than two and a half times the initial estimate of $45 million. RELATED: Cost of raising power lines over the St. Johns River may increase by millions FDOT and the city have committed a combined $45 million towards the project, meaning JAXPORT and JEA will have to split the remaining $72 million bill. Green said a cost-sharing deal is still being worked out between the two companies. [DOWNLOAD: Free Action News Jax app for alerts as news breaks] 'We continue to talk about what the cost-sharing looks like. It should come out in the next week or two,' said Green. As far as JEA is concerned, the rising cost isn't expected to result in any rate increase for consumers, with the utility telling us its share of the project will come from surplus electric revenue generated during last year's hot summer. RELATED: Costs rise to raise power lines over the St. Johns River near JAXPORT 'JEA's proposed rate adjustments for FY25 are predominantly attributed to obligations to Plant Vogtle, capital projects, and state and federal regulatory requirements,' said a JEA spokesperson in an emailed statement. And Green argued the commitment from all four partners highlights the importance of the project for the local economy. [SIGN UP: Action News Jax Daily Headlines Newsletter] 'And when you put all four in, it just shows you know what JAXPORT means to the community, the jobs that we create, so on and so forth,' said Green. JEA also told Action News Jax the project isn't just about bringing in bigger ships. The utility said the project will also result in improvements to the resiliency of the power grid and cooperate with new technology that will improve efficiency. Click here to download the free Action News Jax news and weather apps, click here to download the Action News Jax Now app for your smart TV and click here to stream Action News Jax live.
