Asian Terminals Inc. said Monday net income surged 91 percent in the first quarter from a year ago amid the strong influx of international containerized cargoes handled by Manila South Harbor and the newly expanded Batangas Container Terminal.
The port operator owned by businessman Eusebio Tanco said net income in January to March reached P1.1 billion, up from P581.9 million in the first quarter of 2018.
Revenues climbed 37 percent in the three-month period to P3.6 billion from P2.6 billion a year earlier.
Consistent with the growth of the economy, Manila South Harbor and Batangas Container Terminal handled consolidated international container volume of more than 390,000 TEUs (twenty-foot equivalent units) in the quarter, as both kept economic goods flowing through Metro Manila and Southern Luzon, respectively.
This represented an increase of nearly 25 percent from the same period last year.
ATI also attributed the higher volumes to port efficiency measures it implemented in partnership with stakeholders, the aggressive expansion of Batangas Port and the opening of more container storage spaces within and outside the port zones.
ATI and major international shipping lines agreed in February this year to share vessels and optimize terminal resources to immediately evacuate empty containers from Manila and surrounding areas through Manila South Harbor. This fast-tracked the recirculation of over 10,000 TEUs of empty containers to other Asian destinations on a weekly basis.
The role of ATI’s Sta. Mesa container yard was also expanded to store Customs-cleared overstaying laden boxes, following directives from the Philippine Ports Authority which contributed to achieving greater operational efficiency at Manila South Harbor.
ATI’s new five-hectare empty container depot in Laguna also started operations recently.
Meanwhile, Batangas Container Terminal upgraded its role as Southern Luzon’s trade facilitator following the recent expansion of its berth and yard facilities. It can now handle more than 500,000 TEUs annually, from an initial handling capacity of over 350,000 TEUs.
The robust growth of Batangas Port which handled nearly 250,000 TEUs last year helped reduce road traffic in Metro Manila, in line with government policies.