Coaltrans Asia 2021CimbriaTelestackThe Wolfson Centre for Bulk Solids Handling Technology TBA GroupTMS Awards 2021
  • The Wolfson Centre for Bulk Solids Handling Technology
  • Sailors Society
  • Telestack
  • Cimbria
  • Cleveland Cascades Ltd
  • Coaltrans Asia 2021

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

Work starts at Amsterdam’s Energiehaven

(Posted on 29/07/21)

This coming week, Rijkswaterstaat will see the start of preparatory work to remove contaminated dredged... Read more


ABP invests £8m for bespoke Frontier warehouse

(Posted on 26/07/21)

Associated British Ports (ABP) is investing £8 million to build a bespoke warehouse for valued... Read more


New Milwaukee tenant to focus on green infrastructure

(Posted on 26/07/21)

Port Milwaukee has announced a new long term lease arrangement with Perch Point, a limited liability... Read more


Sohar Port looks to India

(Posted on 20/07/21)

SOHAR Port and Freezone, in collaboration with the Federation of Indian Chambers of Commerce & Industry... Read more


ABP celebrates strong performance

(Posted on 20/07/21)

Associated British Ports (ABP), the UK’s leading ports group, has published its Annual Review... Read more


Record year for Pilbara Ports

(Posted on 15/07/21)

In a year when the Port of Port Hedland welcomed its first LNG-fuelled bulk carrier, the Panama-flagged... Read more


UWC and Acron agree on 500 hopper cars

(Posted on 15/07/21)

Research and production corporation, United Wagon Company, Russia's largest manufacturer of freight... Read more


Rail gateways outline pro-competitive combination benefits

(Posted on 11/07/21)

CN and Kansas City Southern have outlined how the proposed combination of CN and KCS will preserve and... Read more


ABP welcomes new £1m pilot launch vessel to Humber

(Posted on 11/07/21)

Associated British Ports (ABP) has welcomed the first of five new pilot launch vessels to the UK&rsquo... Read more


Eurochem and UWC agree hopper cars deal for mineral fertilizers

(Posted on 05/07/21)

EuroChem and Research and production Corporation, United Wagon Company, Russia's largest manufacturer... Read more


Sailors SocietyVan AalstBühler GmbHTOC EventsCleveland Cascades LtdPort of South Louisiana
  • TMS Awards 2021
  • Port of South Louisiana
  • Vigan
  • Bühler GmbH
  • Port of Stockton
  • TBA Group

Subscribe to our newsletter

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