MANILA, Philippines — Asian Terminals Inc. (ATI) finished 2018 with higher profitability on the back of record cargo volumes handled by its gateway ports in Manila and Batangas.
ATI said its net income hit P2.9 billion last year, 15.8 percent higher than P2.5 billion recorded in 2017.
Revenues in 2018 also grew 15.8 percent to P12.3 billion from P10.6 billion the previous year, driven by higher volume of international containerized cargoes.
ATI said international gateway ports Manila South Harbor and Batangas Container Terminal handled a combined container throughput of over 1.4 million TEUs (twenty-foot equivalent units), the highest in the history of the listed port operator.
International boxed cargoes handled at Manila South Harbor last year reached over 1.3 million TEUs, up six percent year-on-year, while the Batangas Container Terminal handled nearly 250,000 TEUs, 25 percent more compared to the previous year.
“In synergy, Manila South Harbor and Batangas Container Terminal have effectively supported government’s drive for inclusive growth within and outside Metro Manila by continuously opening direct market connectivity and delivering competitive port services to shippers based in the country’s national capital and southern Luzon regions,” ATI said.
“Batangas Port, in particularly, has contributed to decongesting Metro Manila roads. Last year’s cargo volume meant taking out over 125,000 truck trips along metro roads, with more Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) shippers preferring to route consignments through Batangas Container Terminal,” it added.
ATI said major expansion projects are underway in both its Manila and Batangas ports to support future cargo growth in line with the resilient Philippine economy.
ATI has earmarked capital investment of P14.7 billion from 2019 to 2020 to develop more berths and storage spaces in Manila and Batangas ports, additional container yards outside the port zones, acquire more cargo handling equipment, and invest in innovations which would redound to greater efficiencies and safer port environment for stakeholders.
The company expects the expansion of Batangas Container Terminal, which will bring its annual capacity from 350,000 TEUs to over 450,000 TEUs, to be fully completed by the second quarter.
Meanwhile, ATI said its Sta. Mesa container storage facility will be able to accommodate Customs-cleared laden boxes by the end of the month.
This will be followed by the opening of a new five-hectare container depot outside the Port of Manila next month.