THE continued increase in port activities across the country and the steady decline in operating expenses helped the state-owned Philippine Ports Authority (PPA) to grow its net income by more than a fifth during the first nine months of the year.
Data from the port regulator showed its net income increased 16.11 percent to P5.99 billion in the January-to-September period, from P5.16 billion recorded the year prior, as “all aspects of its revenue sources posted significant increases coupled with the modest decline in total expenses.”
Gross revenues rose 8 percent to P10.62 billion, from P9.84 billion posted a year earlier, with port revenues reaching P10.55 billion, from P9.78 billion.
Total expenses decreased by 1.13 percent to P4.63 billion, from P4.69 billion, because of the gradual disbursement in the implementation of repair and maintenance projects complemented by the decrease in depreciation charges.
“The decrease in storage fee of about 39.56 percent brought about by the implementation of several antiport congestion measures has been offset in the other revenue items, as operations became more efficient and effective due to these measures, specifically the Terminal Appointment Booking System that hastened the movement of inbound and outbound containers at the Manila ports,” PPA General Manager Jay Daniel R. Santiago said.
As of the moment, combined yard utilization at the two Manila ports is at 65 percent, or about 52,900 twenty-foot equivalent units, are inside the terminals, while yard productivity remains high ranging from 20 moves to 30 moves an hour.