Asian Terminals Inc. said net income rose 29 percent P3.7 billion in 2019 from P2.9 billion in the previous year on the back of record cargo volume induced by a robust Philippine economy.
The port operator owned by businessman Eusebio Tanco said revenues last year increased 8.6 percent to P13.3 billion from P12.3 billion in 2018, driven by higher international containerized cargoes handled by its gateway ports in Manila and Batangas.
Double-digit cargo growth was recorded by Manila South Harbor and Batangas Container Terminal, which handled a consolidated container volume of 1.61 million teus (twenty-foot equivalent units)—the highest thus far for the listed port operator.
International boxed cargoes in Manila South Harbor reached 1.3 million TEUs, up by over 10 percent than the 2018 figure. Manila South Harbor handled over 100,000 TEUs for nine out of the 12-month period, setting a new operations milestone capped by nearly 124,000 teus in March.
Batangas Container Terminal, meanwhile, sustained its strong volume growth as it officially broke through the 300,000-TEU mark in 2019, finishing the year with over 311,000 TEUs for a volume increase of over 25 percent compared to 2018.
Manila South Harbor and Batangas Container Terminal have effectively supported government’s drive for inclusive growth within and outside Metro Manila by opening direct market connectivity and delivering competitive port services to shippers based in the country’s National Capital Region and Calabarzon (Cavite, Laguna, Batangas, Rizal & Quezon).
Batangas Port has contributed in decongesting Metro Manila roads. 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.
The capacity expansion and efficiency enhancement projects implemented by ATI in line with government’s Build-Build-Build flagship program have positioned Manila South Harbor and Batangas Container Terminal to handle more cargoes in the future.
In Manila South Harbor, its expanded container yard along Muelle de San Fancisco has added a static capacity of 4,500 TEUs.