Thursday Mar 21st 2019

Record container volumes lift ATI income to Php2.9-B

The following release was published by Asian Terminals, Inc (ATI).

Asian Terminals Inc.(ATI) sustained its solid performance in 2018 on the back of record cargo volumes handled by its gateway ports in Manila and Batangas, reflective of the resilient Philippine economy.

In its disclosure to the local bourse, ATI said revenues last year went up by 15.8% to Php12.3 billion from Php10.6 billion in 2017 driven by higher volumes of international containerized cargoes.

ATI’s net income reached Php2.9 billion in 2018, 15.8% higher than Php2.5 billion in 2017.

International gateway ports Manila South Harbor and Batangas Container Terminal handled a combined container throughput of over 1.4 million teus (twenty-foot equivalent units), the highest thus far for the listed port operator.

International boxed cargoes handled at Manila South Harbor in 2018 reached over 1.3 million teus,an increase of over 6% from 2017. The rapidly growing Batangas Container Terminal handled nearly 250,000 teus, an increase of over 25% compared to the previous year.

In synergy, Manila South Harbor and Batangas Container Terminal have effectively supported government’s drive for inclusive growth within and outside Metro Manila by continuously opening direct market connectivity and delivering competitive port services to shippers based in the country’s national capital and southern Luzon regions.

Batangas Port, in particularly,has contributed to decongesting Metro Manila roads. Last year’s cargo volume meant taking out over 125,000 truck trips along metro roads, with more Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) shippers preferring to route consignments through BCT.

ATI has earlier announced that major expansion projects are underway in both Manila and Batangas ports in support of future cargo growth.

The company’s capital investment is approximately Php14.7 billion from 2019 to 2020 to develop more berths and storage spaces in Manila and Batangas ports, additional container yards outside the port zones, acquire more cargo handling equipment and invest in innovations, which would redound to greater efficiencies and safer port environment for stakeholders.

By the second quarter,the expansion of Batangas Container Terminal will be fully completed, bringing its capacity from 350,000 teus to over 450,000 teus, annually. The terminal is now equipped with four quay cranes, eight rubber-tired gantry cranes and additional mobile container handling equipment.

By end-March, ATI’s Sta. Mesa container storage facility will be able to accommodate Customs-cleared laden boxes to be followed by the opening of a new five-hectare container depot outside the Port of Manila in the succeeding month.

Source: Asian Terminals Inc (JK)