The Philippine Ports Authority (PPA) has approved cargo-handling rate increases for the ports of Cagayan de Oro and Balingoan, both in Misamis Oriental.
The increases of 7% for Cagayan de Oro port and 10% for Balingoan port will take effect on November 18, according to PPA Memorandum Circular (MC) No. 07-2019 and No. 06-2019, respectively. The increases are pursuant to PPA Board Resolution No. 2846 for MC 06-2019 and Board Resolution No. 2845 for MC 07-2019.
Both ports are under the PPA Port Management Office of Misamis Oriental/Cagayan de Oro port.
The baseport of Cagayan de Oro, which handles both foreign and domestic cargoes, processed 5.126 million metric tons (mt) in the first nine months of 2019, down 4.6% from the 5.375 million mt in the same period last year.
Balingoan port, which handles roll-on/roll-off cargoes, recorded 3,159 mt of domestic cargoes in the first three quarters of 2019, lower by 16.6% than the 3,789.7 mt serviced in the same period last year.