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Archive for May, 2010

ATS issues P5B notes for vessel purchase, capital requirements

ATS issues P5B notes for vessel purchase, capital requirements

May. 19 | ABOITIZ Transport System (ATS) will issue five-year corporate fixed-rate notes worth P2 billion. The proceeds of the issuance will be used to finance vessel acquisition as well as for working capital purposes. Beginning 2006, ATS sold ships at peak prices....

Hanjin bags $500M project for 8 ships

Hanjin bags $500M project for 8 ships

May. 19 | HANJIN Heavy Industries Corp.-Philippines (HHIC-P) has cornered another multimillion-dollar contract to build at least eight vessels in its Subic shipyard. The newest batch of newbuildings worth about $500 million has increased the total number of projects...

Mindanao box terminal doubles growth forecast

Mindanao box terminal doubles growth forecast

May. 19 | THE Mindanao Container Terminal (MCT) is doubling its volume growth forecast to 10% this year on hopes of more favorable trade following the recent national elections. “The upward trend in our cargo volume is expected to continue particularly now after...

Subic Bay, Clark locators call for policy continuity, seamless transition

Subic Bay, Clark locators call for policy continuity, seamless transition

May. 19 | ASIAN Terminals, Inc. (ATI) almost doubled its net income for the first quarter of the year, thanks to the strong performance of its container and non-containerized businesses. The South Harbor operator reported a 43.5% increase in income to P324.9 million...

Instituting Customs Reforms

Instituting Customs Reforms

May. 17 | Atty Agaton Teodoro Uvero WE have just finished our national elections and the results are almost done. In less than two months, we will have new officials to head the various departments, bureaus, agencies and other government offices. Expectedly, the...

Road connecting NLEX and SLEX proposed

Road connecting NLEX and SLEX proposed

May. 17 | THE Department of Public Works and Highways (DPWH) has received an unsolicited proposal to connect the North and South Luzon Expressways from Metro Pacific Tollways Development Corp (MPTDC). DPWH said while the project complies with the Build-Operate-Transfer...

Cebu Pacific’s April passenger volume breaks record

Cebu Pacific’s April passenger volume breaks record

May. 17 | CEBU Pacific (CEB) posted an all-time high passenger volume in April, boosting the budget airline’s hopes of flying 10 million passengers this year. Last year, CEB flew 8.7 million passengers. CEB carried 906,118 passengers in April, breaking the earlier...

ICTSI bags first US port deal

ICTSI bags first US port deal

May. 17 | INTERNATIONAL Container Terminal Services, Inc. (ICTSI) last week signed a 25-year lease agreement with the Port of Portland, paving the way for the terminal operator’s entry into the US market. Under the terms of the agreement, ICTSI will operate the...

Mindanao terminal sees 52% jump in box volume

Mindanao terminal sees 52% jump in box volume

May. 17 | THE Mindanao Container Terminal (MCT) saw its first-quarter container volume rise 52% to 37,940 twenty-foot equivalent units (TEUs) from 24,868 TEUs in the same period last year, thanks to strong shipments from a mining project in nearby Surigao. “The...

Keppel Phils revenues down but income up in Q1

Keppel Phils revenues down but income up in Q1

May. 17 | SHIPYARD operator Keppel Philippines Marine Inc (KPMI) posted a 16% drop in revenues to P495.7 million for the first quarter of the year compared with the same period last year due to the continued suspension of its Cebu yard operations. Despite this...