Politics

Port passenger volume up 144% in first half; cargo down

1 Mins read

THE Philippine Ports Authority (PPA) said on Wednesday that passengers using its facilities in the first half rose by 144% with the resumption of domestic tourism, trade, and regular travel activity.

Passenger volume for the first half of 2022 rose to 26.053 million, from 10.692 million a year earlier, a PPA representative said in a phone message to BusinessWorld.

The agency said cargo throughput for the first half fell by 1.46% year on year to 125.485 million metric tons.

“Export volume posted the most significant decrease of 14.4%, dragging down foreign cargo volume by 5.5%,” the agency noted.

“In terms of containerized cargo traffic, a 2.66% hike was recorded to 3.733 million twenty-foot equivalent units (TEUs), anchored on the 6.14% increase posted by imported boxed cargoes,” it added.

The PPA said domestic box volume fell by 1.83% to 1.413 million TEUs.

“The agency continues to rebound from the effects of the global pandemic as net income increased by 9% in the first six months of the year,” it also said.

Net income for the period rose to P5.024 billion from P4.611 billion a year earlier.

“Against the target of P4.056 billion, the actual figure is 24% higher,” the PPA said.

“The agency’s net income is now only 13% down compared to the pre-pandemic figure. PPA’s net income declined by as much as 50% during the onslaught of COVID-19 in 2020,” it added.

Revenue rose by 14.28% year on year to P9.438 billion in the first half.

Expenses rose by 14% to P4.413 billion, it said. — Arjay L. Balinbin