Tag Archives: Brownsville Navigation District

Port of Brownsville Bonds Maintain A2 Moody’s Rating

Moody’s Investor Services assigned a stable outlook to the Brownsville Navigation District and reaffirmed a high “A2” credit rating on its revenue bonds. The stable outlook reflects Moody’s view that “the port will maintain ample liquidity supported by strong operating cash flow margins.” Moody’s noted the Port of Brownsville’s “competitive position for cross border trade as well as the upside potential of near-term projects at the port and major private…

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Port of Brownsville Maintains A2 Moody’s Rating

Port of Brownsville financial resilience

Moody’s Investor Services recently assigned a stable outlook to the Brownsville Navigation District by reaffirming it with a high “A2” credit rating on its revenue bonds. The stable outlook reflects Moody’s view that “the port will maintain ample liquidity supported by strong operating cash flow margins.” Moody’s noted the Port of Brownsville’s “competitive position for cross border trade as well as the upside potential of near-term projects at the port…

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Sergio Tito Lopez Named BND Commission Chairman

Sergio Tito Lopez

Sergio Tito Lopez is the new chairman of the Brownsville Navigation District. His nomination was unanimous during the board’s regular meeting Nov. 17. Lopez also was sworn in as a commissioner, along with Ralph Cowen and John Reed. All were reelected to the commission Nov. 3. Lopez serves as chairman alongside BND Vice Chairman Cowen and Secretary Esteban Guerra, who were also unanimously elected to serve as part of the…

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Brownsville Navigation District Reduces Tax Rate

Port of Brownsville is moving ahead with many projects. (courtesy)

The Brownsville Navigation District is lowering the overall tax rate for property owners living within the district effective Oct. 1. The measure comes after unanimous approval at a regular Board of Commissioners meeting Sept. 9. The 2020 property tax rate for the BND will be at $.029778 per $100 valuation. This is a 17 percent decrease from the previous year’s rate of $.035920. The 2020 rate contains a debt rate…

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Port of Brownsville Awards High School Graduates Scholarships

Port of Brownsville scholarships

Thirty-two local high school graduating seniors will receive $1,000 scholarships from the Brownsville Navigation District. The inaugural Port of Brownsville program helps deserving students pursue their education and career dreams. “On behalf of the entire Port of Brownsville organization, we are proud to support these local students and families at this time,” said John Reed, chairman of the Brownsville Navigation District. “We are excited for the students as they continue…

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New Mobile Harbor Cranes Arrive at Port

A crew member of the cargo vessel M/V BBC ASIA observes the unloading of one of the mobile harbor cranes at Dock 16 at the Port of Brownsville. (photo Port of Brownsville)

Two new mobile harbor cranes arrived Jan. 16 at the Port of Brownsville. The Brownsville Navigation District ordered the Konecranes Gottwald Model 6 mobile harbor cranes in June 2019 to increase the port’s on-dock lifting capacity due to higher demands of cargo volumes. “These cranes are one of the latest investments by the Port of Brownsville to meet the needs of our port tenants and growing list of clients,” said…

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Three New LNG Projects Move Forward

The Port of Brownsville is one step closer to welcoming three new LNG projects with an investment totaling $38.75 billion. The Federal Energy Regulatory Commission approved their proposals late last week during its monthly commission meeting.  “Today’s announcement is another significant milestone in making these energy projects a reality and is the result of years of hard work by the applicants,” said John Reed, chairman of the Brownsville Navigation District.…

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Port of Brownsville Has Record Year

The Brownsville Navigation District’s recent annual external audit of the Port of Brownsville confirms record operating revenues and tonnage for fiscal year 2018. The audit reviewed the district’s financial statements and figures, which reflect an increase in total operating revenue and tonnage for the port for the fiscal year ending Dec. 31, 2018.  The total operating revenue was $24,209,767. This marks a four percent increase from the 2017 fiscal year.…

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Brownsville Agreement to Lead to Channel Deepening

Deputy Secretary of the U.S. Department of Energy Dan Brouillette addresses the crowd during the Brazos Island Harbor Channel Improvement Project Funding Agreement. (photo NextDecade)

The Brownsville Navigation District and NextDecade Corporation have come to an agreement set to deepen of the ship channel. The project will then transform the Valley business landscape. The Brazos Island Harbor Channel Improvement Project Funding Agreement commits NextDecade to privately fund key improvements to the Brownsville Ship Channel. The company will pay 100 percent of the deepening. The project will run from the Gulf of Mexico to the western…

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Port of Brownsville Recognizes West Plains

CEO of West Plains LLC Amit Bhandari (third from right) accepts the 2018 Chairman's Award with company representatives.

West Plains LLC is the recipient of the Port of Brownsville’s 2018 Chairman’s Award. The award recognizes both the company’s investments and rehabilitation efforts of the port’s iconic grain elevator. Presentation of the award came Dec. 4 at the port’s annual customer appreciation luncheon. More than 200 guests were witness to the award presentation by Brownsville Navigation District Chairman John Reed. Among those in attendance were local, regional and state public…

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