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Philippine ports see stellar H1 results due to strong imports
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Time:2017/8/28 12:07:26 |
PORTS in the Philippines recorded a 14 per cent year-on-year increase in container volume from January to May to reach 2.9 million TEU.
Philippine Ports Authority (PPA) said it would need to revisit its cargo traffic forecasts for the whole of 2017, as a result of the strong growth in imports and a resilient domestic market.
Port operator Asia Terminals Inc (ATI) enjoyed a busy first half, with net income up 17 per cent to US$23 million on 15 per cent higher revenue at $99 million, reported London's The Loadstar.
It's Manila South Harbour terminal handled 550,000 TEU, sustaining last year's strong performance when it breached 1 million TEU for the first time.
Batangas Container Terminal (BCT) stepped up its role in Calabarzon by "offering competitive market connectivity to major shippers and effectively decongesting Manila's roads," ATI said. BCT handled 93,000 TEU in the first half, leaving it on track to surpass last year's record volume of 160,000 TEU.
"Despite handling growing volumes, our international container ports in Manila and Batangas are performing at optimum production and utilisation levels heading into the 'bear' months, the peak season for shipments," ATI executive vice president Andrew Hoad was quoted as saying. "We have capacity for future volume growth."
Mr Hoad told The Loadstar Manila's consumers were continuing to drive growth in port volumes.
"Imports are the dominant trade leg. We see this both in containerised traffic for all types of fast-moving consumer goods at one end of the scale and also in car imports coming in through Batangas at the other, which grew 42 per cent last year," he explained. | | | | | | | |
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