Port operator’s net profit up 28.9% to P3.7B in 2019
Port operator Asian Terminals Inc. (ATI) saw a 28.9-percent increase in net profit to P3.7 billion last year as it expanded its facilities in Luzon, helping drive up volumes to a new record.
ATI, which operates Manila South Harbor and Batangas Container Terminal, posted an 8.6-percent rise in revenues to P13.3 billion.
ATI said combined volume for Manila South Harbor and Batangas Container Terminal stood at 1.6 million twenty foot equivalent units or TEUs.
International boxed cargoes in Manila South Harbor reached 1.3 million TEUs, up 10 percent from the previous year. Manila South Harbor handled more than 100,000 TEUs for nine out of the 12-month period.
Batangas Container Terminal, meanwhile, sustained its strong volume growth as it broke through the 300,000 TEU mark in 2019 with more than 311,000 TEUs. This was 25-percent higher than in 2018.
ATI said efforts to ramp up volume in Batangas translated to less congestion in Manila.
Article continues after this advertisement“Last year’s cargo volume meant taking out over 150,000 truck trips along metro roads, with more Calabarzon shippers preferring to route consignments via Batangas,” it said,.
“The capacity expansion and efficiency enhancement projects implemented by ATI in line with the government’s ‘Build, Build, Build’ flagship program have positioned Manila South Harbor and Batangas Container Terminal to handle more cargoes in the future,” the company added.
