The Philippines stands to gain from the rise in maritime activity and investments at the Singapore basin as global trade continues to shift to Asia, the Philippine Exporters Confederation Inc. (Philexport) said over the weekend.
Government revenues from the various freight and passenger ports around the country inched up in 2012 amid higher cargo volumes and improved collection efficiency, data released last week showed.
Razon-led port operator International Container Terminal Services Inc. expects to invest about $95 million to acquire up to 55 percent of Pakistan International Container Terminal Ltd. (PICT), a container cargo terminal operator at Pakistan’s Karachi Port.
The Philippines needs a major cargo shipping hub facing the Pacific Ocean, complementing Manila as the premiere harbor, to maximize the country’s potential as a hub for the movement of goods across the region, a professor from the country’s top business graduate school said.
Pilipinas Shell Petroleum Corp. (PSPC) and Islas Tankers Seatransport Corp. (ITSC) recently signed contracts for the time charter of the latter’s two double-hull tankers.
The government has allotted P500 million for the improvement of cargo sea ports that are key to boosting economic activity in three provinces outside Metro Manila.
Some of the country’s largest companies have reported sharp reductions in transportation and storage costs while increasing cargo and passenger traffic in the country due to the roll-on, roll-off system, business groups said over the weekend. At the same time, the Philippine Chamber of Commerce and Industry (PCCI) and the Employers’ Confederation of the Philippines [...]
