Throughput Volume
- 2Q18 Lowest decline rate of transhipment in the last 5 quarters due to residual impact from M&As among liners and the new alliances
- YTDJun18 Intra-Asia trade lane’s split increased to 61.4% from 54.1% in 1H2017 and Asia-Australasia benefited from additional services
- Total conventional volume declined due to much lower cement and dry bulk cargo even though break bulk tonnage handled increased
Revenue
- 2Q18 Container revenue declined with MFRS15 but QoQ growth reflected underlying trend as gateway constituted 36.2% of volume
- YTDJun18 Adjusted container revenue per TEU would follow QoQ’s trend. Higher conventional revenue with project cargo and RORO
- Marine reflected lesser vessel calls while rental increased with step-up in tier rates for land lease. No construction activities in 1H2018
Cost
- 2Q18 Manpower cost increased mainly due to annual increments for basic salaries, higher deduction for EPF and allowances-incentives
- YTDJun18 Higher depreciation charges with completion of terminal expansion by Dec2017. Container cost with full MFRS15 compliance
- Higher fuel cost with higher MOPS in US$ offsetting lower total fuel consumption. Electricity cost reflected more reefers and also QCs
Read the full report at Westports Holdings.
