SUBIC Bay Metropolitan Authority (SBMA) is optimistic of attaining growth despite the global economic slowdown. This was the message of SBMA administrator Armand Arreza at the two-day general assembly of the International Network of Affiliated Ports (INAP) held in SBMA last week.
“We can do this by responding to the needs of the maritime transport industry, while strengthening cooperation among members, exchanging information and technology, and conducting regular interaction among members,” Arreza said.
“The Port of Subic now boasts the newest operating container port in the country, and it possesses key infrastructure that can support a wide range of businesses,” he added.
“With this, Subic now responds to the growing requirements of seaborne trade in Northern and Central Luzon, and is ready for the capacity shortage of 14 million TEUs (twenty-foot equivalent units) projected for South East Asia,” he said.
Subic’s New Container Terminal-1, funded by the Japan Bank for International Cooperation (JBIC), has an annual capacity of 300,000 TEUs. It is equipped with two quay cranes capable of handling post-Panamax cargo vessels.
This year, SBMA expects a bigger volume of containerized cargo to 43,490 TEUs from 36,451 TEUs in 2007.
Non-containerized cargo is targeted to increase to 2.66 million metric tons (mmt) this year from the 2007 record of 1.89 mmt. Subic Bay Freeport is also home to 1,100 investor-firms that provide jobs to more than 85,000 workers.
Subic Bay Freeport is also home to 1,100 investor-firms that provide jobs to more than 85,000 workers.
