Asian Terminals Inc. on Tuesday said net income rose 31 percent 2017 on the back of robust domestic and international trade.
The port operator owned by businessman Eusebio Tanco said net income amounted to P2.5 billion in 2017 from P1.9 billion in 2016.
ATI’s revenues last year increased 14.6 percent to P10.6 billion from P9.2 billion in 2016 on account of higher volumes of containerized cargoes and favorable cargo mix in the non-containerized segment.
Reflective of the robust growth of the Philippine economy in 2017, ATI’s international ports in Manila and Batangas handled a combined container cargo throughput of over 1.3 million TEUs (twenty-foot equivalent units).
International boxed cargoes handled at Manila South Harbor in 2017 reached over 1.1 million TEUs, an increase of nearly 6 percent from 2016. The rapidly growing Batangas Container Terminal handled almost 200,000 TEUs, an increase of over 25 percent compared to the previous year.
BCT has effectively supported government’s drive for inclusive growth outside Metro Manila by opening up direct market connectivity and delivering competitive port services to shippers based in South Luzon.
Equally important, Batangas Port contributed to decongesting Metro Manila roads. Last year’s cargo volume meant taking out over 100,000 truck trips along the roads of the capital region, with more Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) shippers preferring to route consignments through BCT.
ATI’s record year in 2017 was also achieved through process improvement, investment in equipment and facilities as well as innovations, while constantly promoting a safe industrial environment for port stakeholders.
The company expects the delivery of two additional quay cranes, four more rubber-tired gantry cranes and other cargo handling equipment by 2018 in line with ATI’s plans of doubling BCT’s capacity to over 600,000 TEUs.