Port of New Orleans Reaches Pre-Katrina Level

he Port of New Orleans said it has reached 100% of pre-Hurricane Katrina levels, and that it received approval Thursday to borrow up to $12 million for costs related to Katrina, the Associated Press reported.

bout 30 general cargo ships, including 10 container vessels, called on the port this week, said Gary LaGrange, chief executive officer.

Despite the improvements, LaGrange said general cargo activity was down about 20% for the fiscal year, which runs from July 1 to June 30. He blamed the dip on having to restore merchants’ confidence in New Orleans following Katrina.

While it expects to receive more than $30 million from the Federal Emergency Management Agency and the port's insurance, it’s unclear when the port will receive that money, AP said.