Home » Maritime » SBMA seaport dep’t shoots for revenues of P568M

THE seaport department of Subic Bay Metropolitan Authority (SBMA) expects to collect P568 million in revenues this year — P510 million from core revenue sources and P58 million from other sources.

Of the core revenues, P146.210 million will be accounted for by cargo charges, P135 million by vessel charges, and P125 million by lease payments. The rest will be contributed by SBMA in the form of processing fee and other charges.

Port marketing programs are expected to bring in P13.468 million under other sources of revenues. The rest will come from earnings arising from newly built warehouses at the Naval Supply Depot and the proposed 25% increase in tariff on selected commodities handled at the port.

“We are reviewing policies to enhance revenue measures like the tariff rate hike on some commodities without putting so much burden on stakeholders,” seaport manager Capt. Perfecto Pascual said.

There are also plans to enter more sister port agreements and market the port heavily locally and internationally to boost volumes and therefore revenues. Initiatives that began last year to penetrate the US market and bring in more balikbayan boxes from the US will be continued.

This year, SBMA projects to handle 28,908 TEUs, of which 14,956 TEUs are expected to be import cargoes and 7,112 TEUs export.

For non-containerized cargo, it hopes to handle 2.581 million metric tons (mmt) with 1.953mmt representing bulk and break bulk cargoes; 622,982mt, heavy equipment lift; and 5,108mt, transshipment.

By end 2012, the seaport is targeting to handle 80,000 TEUs and 3mmt bulk cargoes on 2,500 ship calls.

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