The port’s output is still 10% below its prewar level.
Haifa Port Co. Ltd. is expected to lose NIS 60 million in 2006 because of lost revenue during the second Lebanon war and compensation to employees. The port’s output has not yet returned to its prewar level, and still down 10%, mainly because customers have reduced their use of the port. It is currently handling an average of 1,900 containers a day.
Haifa Port president Amos Ouzani said shipping companies had changed their routes and time was needed before they return to their original routes. He said Haifa Port lost NIS 35 million in revenue and had to pay employees over NIS 12 million in premiums, even though they did no work.
Haifa Port posted a profit of NIS 120 million in 2005, and is predicted to post a profit this year, despite the war.
Published by Globes [online], Israel business news - www.globes.co.il - on November 2, 2006
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006