The Lorain Port Authority owns the Port of Lorain properties and operates the public facilities in the port. It was the second port authority created by the State of Ohio. The port authority promotes waterborne commerce and economic development for the City of Lorain and provides public access to the waterways.

The Port of Lorain is in transition from a heavy industrial to a mixed-use waterfront, and the port authority acquires lands as they become available for waterfront development.

The Port of Lorain is a deep-draft commercial harbor with depths of 8.5 meters in the outer harbor and 8.2 meters in the inner harbor. The Port of Lorain is protected by four kilometers of breakwaters.

In 2007, the Port of Lorain handled almost three million tons of cargo. Major stakeholders in the Port of Lorain include the US Army Corps of Engineers, the Lorain Port Authority, the US Coast Guard, Amcor Marine, Gold Bond/US Gypsum, the American Metal Chemical Corporation, Jonick Dock and Terminal, Lorain Tubular Company, Republic Technologies, Ready Mix, and National Gypsum.

Ten 304-meter vessels operate on the Great Lakes, five of which were built in Lorain. These vessels can carry up to 60 thousand tons of iron ore.

The Black River Landing Transportation Center is a meeting facility available for business and private use and events. The Port of Lorain's Lakeside Landing Park has two pavilions for public use as well as facilities for picnics. The Black River Waterfront Boat Launch serves boaters and fishermen with six ramps. The Launch area also contains picnic facilities free for public use. Riverside Park has a fishing pier and two pavilions equipped with electricity and restrooms, a playground, and large open grassy areas for recreation and special events.

Toledo, Lorain & Fairport Company has an unloading facility for iron ore and a loading facility for coal in the Port of Lorain. United States Steel Corporation has a facility for unloading iron ore and limestone. Erie Sand & Gravel Company unloads sand, and Lorain Elyria Sand Company unloads gravel, sand, and stone.

The United States Steel Corporation has facilities for loading slag and coke breeze, and National Gypsum operates a facility at the Port of Lorain. Toledo, Lorain & Fairport Company operates a facility for loading and unloading scrap iron.

Terminal Import-Export operates facilities loading and unloading general cargo and unloading calcium chloride. Terminal Ready-Mix, Inc. operates a facility for unloading sand.

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