port update

SSA Marine has posted a progress report of their operations on Business Wire, SSA Marine Announces Six Month Operations Update at the Port of Umm Qasr, Iraq.

Contract/Tariff 1. SSA Marine was awarded a $4.8 million, 1-year contract with the United States Agency for International Development. [...] 3. Of the $4.8 million contract, we have to date received $990,000. The profit on the contract is $438,000. The after-tax profit amount is then approximately only $280,000. 4. We collect revenues from Port tariffs on behalf of the Port * none goes to SSA Marine. 5. Any additional funding is by USAID for operating costs and capital improvements deemed necessary by USAID.

Wouldn't you just love to see all of the contracting agencies provide such reports? Kudos to SSA Marine for publishing their report.

PS SSA Marine is the new name of the company formerly known as Stevedoring Services of America. The contract to manage the Umm Qasr port was one of the earliest awarded by the USAID. The parent company of SSA Marine is Carrix.