PH cargo traffic up 4.6% in first ten months

Photo by Mariah Dalusong on Unsplash
  • Philippine cargo traffic rose 4.6% year-on-year in the first 10 months of the year
  • Foreign cargo volume grew by 6.5% to 145.16 million MT while domestic cargo traffic inched up 1.1% to 81.95 million MT
  • Foreign containers saw a 1.34% uptick while domestic containers dropped 15.5%
  • Import containers increased by 0.49% to 2.04 million TEUs, particularly at Manila International Container Terminal and ports in Batangas and Davao
  • Export containers rose 2.3% fueled by higher volumes at Manila International Container Terminal, Davao, and Cagayan de Oro ports
  • Philippine Ports Authority expects further traffic growth with improving global trade and the approaching Christmas holidays

The Philippine Ports Authority (PPA) reported a 4.6% increase in cargo traffic to 227.12 million metric tons (MT) in the first ten months of the year from 217.33 million MT year-on-year, according to a statement from the authority.

Foreign cargo volume rose by 6.5% to 145.16 million MT from 138.24 million MT as exports volume jumped 11.4% to 60.82 million MT from 54.57 million MT.

Imports increased by 3.3% to 84.34 million MT from 81.57 million MT.

Domestic cargo traffic grew 1.1% to 81.95 million MT from 81.08 million MT.

The PPA attributed the higher cargo volume to higher coal shipments in Panay/Guimaras, particularly from Semirara Mining and Power Corporation. Other contributing factors included increased shipment of breakbulk and bulk cargo in Batangas Port, higher outbound cargoes from private port volume of sand recorded at the Port of Currimao, and a higher supply of coconut oil at the Mauban Port.

Foreign containers handled by PPA ports inched up 1.34% from January to October to 4.03 million twenty-equivalent units as global trade continues to gain traction, translating to higher exports and imports.

Imports experienced a modest 0.49% bump, reaching 2.04 million TEUs compared to the previous year’s 2.03 million TEUs. Notable increases were seen at the Manila International Container Terminal and the port management offices in Batangas and Davao.

Exports also went up by 2.3% to 2.04 million TEUs from 1.99 million TEUs, fueled by higher volumes at MICT, and the ports in Davao and Cagayan de Oro.

PPA noted that the World Trade Organization sees world merchandise trade volume growing at a slower pace of 0.8% this year before bouncing back to 3.3% growth next year. However, rising inflation and high interest rates, particularly in the United States and the European Union, would continue to pose challenges to the global economy.

PPA said the increase in foreign containers partially offset the 15.5% drop in domestic containers from January to October this year to 2.13 million TEUs compared with last year’s 2.52 million TEUs.

According to the agency, the low volume of construction materials and metal products recorded at Sasa Port in Davao and base port in Misamis Oriental/Cagayan de Oro, and Manila North Harbor contributed to the decline in container volume.

PPA general manager Jay Daniel Santiago foresees a continued rise in cargo traffic due to improving global trade and the upcoming Christmas holidays.

READ: PH ports see 3.8% cargo volume growth in first nine months