Strong trade volumes handled at Manila South Harbor and Batangas Port have lifted Asian Terminals Inc.’s (ATI) first-quarter results, reflecting growing imports and exports by Metro Manila- and Calabarzon-based (Cavite, Laguna, Batangas, Rizal, and Quezon) companies.
The listed company in a statement said that, driven by strong volumes, the first quarter delivered a net income of P490.5 million, 28.4% higher than the P382.1 million logged during the same period last year.
Revenues for the three-month period reached P2.31 billion, representing a 17.5% growth over the P1.97 billion made in 2016.
After handling a record 1 million twenty-foot equivalent units (TEUs) in 2016, Manila South Harbor sustained its momentum going into the first three months of 2017, delivering over 200,000 TEUs of foreign container boxes to Metro Manila, the country’s main consumer market. This equals its first quarter volume in 2016.
Batangas Container Terminal (BCT) handled over 40,000 TEUs during the quarter, or over 30% higher compared to the same period in 2016.
ATI said higher cargo volumes flowing through Batangas takes traffic off the roads in Metro Manila, in support of the government’s goal to decongest major cities and spur countryside growth.
In 2016, BCT handled nearly 160,000 TEUs, its highest container throughput since 2010. ATI said that more importantly, the higher volumes in Batangas helped reduce over 80,000 trucks trips along Metro Manila’s roads, with more shippers opting to ship commodities via Batangas instead of Manila.
ATI earlier said at least P4.6 billion will be invested this year to further increase operational capacity, efficiency, and safety at its Manila and Batangas ports in support of the country’s growing economy.
