DocksolidStemmMultimodal 2018Vigan Engineering S.ATBA - Software Solutions & Services for ports, terminals & warehousesNAVTOR
  • FLSmidth
  • TMS Tanker Conference 2018
  • Ovet
  • Sailors Society
  • Cleveland Cascades Ltd
  • Stemm

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

Port Kembla, Australia reopens after bulk ship blaze

(Posted on 18/06/18)

A fire in the hold of a CSL bulker closed Port Kembla for eight hours on Monday.Located on the east... Read more


Maintenance starts at Bowen Wharf, Queensland

(Posted on 15/06/18)

Maintenance works are set to begin on the Bowen Wharf. North Queensland Bulk Ports Corporation (NQBP... Read more


Naming ceremony for Damen tugs in Rotterdam

(Posted on 15/06/18)

The naming ceremony of the newly-built Damen tugs Rotterdam and Beagle took place this week in the Port... Read more


EMMA ensures inland shipping a better standing in policy and society

(Posted on 15/06/18)

Project EMMA, funded by the Interreg Baltic Sea Region Programme 2014–2020, has actively contributed... Read more


BPA backs the ‘customs backstop’

(Posted on 15/06/18)

The British Ports Association has welcomed the publication of the temporary customs arrangement, known... Read more


Dunkirk gains PERS certification

(Posted on 15/06/18)

In line with the commitments of the PA2D (Sustainable Development and Action Plan), Dunkerque-Port has... Read more


Charleston’s harbour deepening project

(Posted on 15/06/18)

The US Army Corps of Engineers (USACE) has announced $49m for the Charleston Harbour Deepening Project... Read more


Newcastle Bulk Terminal raises the bar

(Posted on 08/06/18)

Newcastle Bulk Terminal raises the barThe Port of Newcastle is demonstrating its commitment to the diversified... Read more


Damen Tug for new deep-water bulk terminal at Saqr Port

(Posted on 08/06/18)

The new ASD Tug 2913 for Saqr Port, part of Ras Al Khaimah (RAK) Ports, has been launched at the Albwardy... Read more


Holistic corridor perspective development vital for border-crossing

(Posted on 08/06/18)

Development of transport corridors ensures smart and innovative cross-border transport and logistics... Read more


Cimbria Bulk Equipment A/SFLSmidthCleveland Cascades LtdOvetTMS Tanker Conference 2018Bühler GmbH
  • TOC Events
  • Port of Stockton
  • Vigan Engineering S.A
  • TBA - Software Solutions & Services for ports, terminals & warehouses

Subscribe to our newsletter

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