CimbriaPort of Vancouver USATelestackPort of South LouisianaBühler GmbHTOC Events
  • Sailors Society
  • Cimbria
  • Vigan
  • Port of Vancouver USA
  • Cleveland Cascades Ltd
  • The Wolfson Centre for Bulk Solids Handling Technology

Philippine Ports step up infrastructure upgrades as revenues surge

(Posted on 24/05/18)

The Philippine Ports Authority (PPA) is accelerating its port infrastructure projects after port revenues posted strong figures in the first three months of the year.

PPA continues to post favourable performance after posting a banner year in 2017 in terms of revenues and dividend remitted to the national coffers.

PPA General Manager Jay Daniel R. Santiago said the positive deviation provides the agency bigger elbow room to further improve the ports with high concentration of cargoes and passengers. “We have been injecting so much investment in our ports in support of the Build-Build-Build programme of the Duterte Administration,” Santiago explained.

“Dredging as well as repair and maintenance costs comprise almost entirely our Expenses for the period, all aimed at making our ports efficient and more responsive to the demands of times,” Santiago said.“Once completed, these projects will definitely boost our revenues and eventually our income all anchored on faster turnaround of vessels and cargoes in our ports,”

Santiago added that as a sign of good tidings, the PPA also eclipsed its first quarter target by at least 60%. Total revenues registered a positive deviation with a 9% hike from P3.476 billion in 2017 to P3.783 billion raked in for the period in review, anchored on the strong performance of the Government share from Storage Fees that went up 50%; Layup Fees by 183%, among others.

Fund Management Income, on the other hand, booked a 26.6% hike for the period in review from P24.02 million last year to P30.41 million this year.

Net income, however, declined by some 4% to P2.259 billion from P2.364 billion last year owing to the agency’s high expenses for the period particularly on repair and maintenance and dredging.

Total Expenses for the period, meanwhile, soared by 37.03% from P1.112 billion last year to P1.523 billion this year. Cash and Non-cash Expenses are higher by 46.56% (P740.61 million) and 29.10% (P783.35 million), respectively. Dredging expenses, in particular went up by 644% while repair and maintenance recorded an increase of 117%.

Among the areas where ports are being improved include Puerto Princesa, Eastern Leyte, Ilocos Norte, Occidental Mindoro, Batangas, Ozamiz.

Latest News

Solid season for HOPA Ports

(Posted on 20/01/21)

Shipping season on the Great Lakes closed on 8th January and at the combined ports of Hamilton and Oshawa... Read more


Antwerp bulk throughput decreases

(Posted on 19/01/21)

The total throughput of Port of Antwerp in 2020 amounted to 231 million metric tonnes of cargo, a fall... Read more


Great Lakes Towing names latest Damen Tugs

(Posted on 19/01/21)

The Great Lakes Towing Company has named two new tugs, the Pennsylvania and Wisconsin, at the Cleveland... Read more


MVTTC Chairman invokes Churchillian spirit in New Year message

(Posted on 15/01/21)

David Ryan, Chairman of the New Orleans based Mississippi Valley Trade and Transport Council (MVTTC),... Read more


Key stages of €1.3bn Gdansk plan to complete in 2021

(Posted on 14/01/21)

The Port of Gdansk has announced that key projects within the largest investment programme in its history... Read more


Abu Dhabi Ports expands relief measures

(Posted on 10/01/21)

Abu Dhabi Ports have announced a freeze on rent escalation during 2021 for all businesses in its Industrial... Read more


Sept-Îles welcomes first ship of 2021

(Posted on 10/01/21)

Flying the flag of the Netherlands, the M/V Erasmusgracht arriving from Lake Charles, Louisiana, was... Read more


HHLA PLT Italy starting on schedule

(Posted on 10/01/21)

The announced acquisition by Hamburger Hafen und Logistik AG (HHLA) of 50.01 percent of the multi-function... Read more


Le Havre revitalises multi-bulk terminal

(Posted on 05/01/21)

The Port of Le Havre’s Supervisory Board has awarded a concession for the construction and operation... Read more


Federal Kushiro first vessel of 2021 at Trois-Rivières

(Posted on 05/01/21)

The Federal Kushiro is the first vessel to call the Port of Trois-Rivières in 2021. It docked... Read more


Sailors SocietyCleveland Cascades LtdPort of StocktonViganThe Wolfson Centre for Bulk Solids Handling Technology TBA Group
  • Port of Stockton
  • Telestack
  • TBA Group
  • TOC Events

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping