Port operator Asian Terminals Inc. (ATI) reported a 53% increase in net income for the first half of 2019 to P2.14 billion from P1.40 billion year-on-year as its Manila and Batangas terminals handled record cargo volumes.
In a regulatory disclosure, ATI said its revenues rose 23.5% to P7.04 billion compared to P5.70 billion, driven by higher international containerized cargoes handled by Manila South Harbor (MSH) and Batangas Container Terminal (BCT)
Revenues for MSH and BCT grew by 16.8% and 90.6%, respectively.
From January to June, MSH handled nearly 650,000 twenty-foot equivalent units (TEUs) of international boxed cargoes, a new mid-year record for the port and higher by over 15% from volumes processed in the first half of 2018.
BCT, on other hand, handled over 160,000 TEUs in the first half of the year, 45% more year-on-year. ATI earlier noted that with the increase in volume in the first half, BCT is on track to surpass its 2018 full-year throughput of nearly 250,000 TEUs. Last April, ATI unveiled its expanded berth, which has doubled BCT’s annual capacity to 500,000 TEUs.
ATI also attributed its record cargo volume to port efficiency measures implemented in collaboration with customers, port authorities and other stakeholders.
In February, ATI and major international shipping lines entered into a terminal and vessel resource sharing agreement called the Empty Loadout Shipping Alliance (ELSA), which has since paved the way for the immediate evacuation of empties from Metro Manila and nearby environs via MSH.
Currently, nine ELSA-participating shipping lines pull out more than 10,000 TEUs of empty containers from MSH for recirculation to other Asian destinations on a weekly basis, effectively managing the build-up of empty containers in the supply chain.
ATI said it also continuously transfers Customs-cleared overstaying boxes from MSH to its Sta. Mesa container yard, in compliance with directives of the Philippine Ports Authority. This, the port operator noted, has contributed to optimized yard space and overall terminal efficiency.
ATI has also opened a 5-hectare empty container yard in Calamba, Laguna, near its inland clearance depot facility to allow operational flexibility and to support operations of both Manila and Batangas ports.
