10.8 C
Hamburg
Thursday, May 30, 2024
Home News Asian Terminals Inc., half-year results

Asian Terminals Inc., half-year results

Record cargo volumes handled by its international gateway ports in Manila and Batangas boosted the first semester results of listed Asian Terminals Inc. (ATI).

In a disclosure to the local bourse, ATI reported a net income of Php 1.40 billion for the first six months, up by 18.2% from Php 1.19 billion a year earlier.

Revenues reached Php5.70 billion, 12.4% higher than Php5.07 billion during the same period in 2017, on account of higher international containerized cargoes handled by Manila South Harbor (MSH) and Batangas Container Terminal (BCT) as well as higher containers, domestic RoRo and passengers handled by Batangas Port, reflective of the resilience of the Philippine economy.

From January to June, MSH facilitated the safe and efficient delivery of over 560,000 teus (twenty-foot equivalent units) of foreign shipment, for its highest volume over a six-month period. This represents a nearly 5% volume growth compared to the first half of 2017.

The feat was bannered by an all-time high single-month volume of nearly 105,000 teus in May, followed by over 103,000 teus in June, for a back-to-back 100,000-teu performance.

Consistently,BCT stepped up its role as trade facilitator in Calabarzon (Cavite, Laguna,Batangas, Rizal and Quezon), offering competitive market connectivity to major shippers and helping decongest Manila’s roads.

BCT handled over 110,000 teus from January to June this year, higher by over 18%than last year, keeping it on pace of exceeding its 2017 record throughput of nearly 200,000 teus. Equally important, this meant reducing over 55,000 truck trips along Metro Manila roads, with more consignees routing cargoes via Calabarzon’s preferred gateway port.

“Despite handling growing volumes, our international container ports in Manila and Batangas are performing at optimum production and utilization levels heading into the ‘ber’ months, the peak season for shipments,” ATI executive vice president William Khoury, said.

“We have capacity and are continuously increasing our capabilities to handle future growth,” Khoury added.

Inline with its investment commitment with the Philippine Ports Authority, ATI is spending approximately Php8.0 billion this year to further boost the efficiency and capacity of its ports.

Among others, these investment include: the deployment of two new quay cranes last April and continuous yard expansion projects at MSH; the near completion of Batangas Port’s multi-level car storage facility; and the delivery of two additional quay cranes and four morerubber-tired gantry cranes at BCT by fourth quarter alongside the ongoing expansion of BCT’s berth and yard facilities.





Latest Posts

2M alliance changes California terminal on Transpacific service

2M alliance has announced a terminal change on its TP 8/Orient service, a Transpacific service connecting Asia and the United States West Coast. As of...

Rates climb on early peak season and capacity stretched thin

Carrier adjustments due to Red Sea diversions – the use of more vessels travelling at faster speeds, together with heavier reliance on transshipment –...

DHL expands Germany’s campus with new logistics centre

DHL Supply Chain is expanding its multi-user campus in Leipzig/Halle with the construction of a new logistics centre, which will offer 34,000 square meters...

Autonomous terminal tractor testing begins at Sweden’s port

In collaboration with Terberg Special Vehicles and EasyMile, the Port of Helsingborg is pioneering the Autonomous Terminal Tractor Test. This initiative involves testing a driverless...

COSCO secures first full-container industry chain transformation finance project

COSCO SHIPPING Development and Standard Chartered Bank (China) Limited have entered into a framework agreement focussed on transforming the container industry chain and fostering...