PPA posts record-high P20.4B revenue in 2022

• The Philippine Ports Authority (PPA) generated P20.4 billion of revenue in 2022, the agency’s highest annual collection so far since its inception 48 years ago

• PPA general manager Jay Daniel Santiago said the record collection can be attributed to the ports authority’s sound fiscal management and the rebound in the economy as a result of the lifting of COVID-19-related restrictions

• In 2022, 69 port projects were completed, which consist mostly of expansions, construction of port operations buildings, and back-up areas

• For 2023, PPA has set a target of P21.6 billion of revenue

The Philippine Ports Authority (PPA) generated P20.4 billion of revenue in 2022, the agency’s highest annual collection so far since its inception 48 years ago.

PPA general manager Jay Daniel Santiago said the record collection can be attributed to the ports authority’s sound fiscal management and the rebound in the economy as a result of the lifting of COVID-19-related restrictions.

“It has been business as usual since we got back, we continue to veer away from the grip of the pandemic by contributing to the economy and increasing our revenues by 16%, more than the P17.5 billion in year 2021 and P16.6 billion in year 2020. We believe this is a good sign and a great shift in gears during this rebound of the economy,” Santiago said in a statement.

In 2022, PPA said 69 port projects were completed including, among others, the Tablas (Poctoy) port expansion project in Odiongan, Romblon; Balanacan port expansion project in Marinduque; construction of back-up area and port operations building (POB) in Coron port, Palawan; Matnog port expansion project in Sorsogon; back-up area construction at Dumangas port, Iloilo; back-up area construction at Getafe port in Bohol; construction of POB and roll-on/roll-off (RoRo) ramp in Maasin port, Southern Leyte; development project of Dapitan port in Zamboanga del Norte; upgrading and expansion of Lawigan port in Bislig, Surigao del Sur; construction of the continuous RoRo ramp in Cagayan de Oro port; and expansion of back-up area with RoRo ramp in Lipata port, Surigao del Norte.

In 2022, PPA also recorded a 7.15% year-on-year increase in container traffic to 527,131 twenty-foot equivalent units (TEU). Domestic containers grew 5.01% to 143, 880 TEUs while foreign containers rose 8.51% to 383, 251 TEUs.

Passenger traffic jumped 155.99% to 35.997 million in 2022, attributed to the resumption of domestic tourism and regular travel activities.

Shipcalls likewise increased 25.31% to 95,993 shipcalls. Domestic shipcalls grew 26.22% while foreign shipcalls declined 3.05%.

For 2023, Santiago said PPA has set a target of P21.6 billion of revenue. He earlier said they are looking at a 7-8% growth for cargo traffic this year.