Subic seaport revenue up 20%

by.Riza T. Olchondra- INQUIRER

MANILA, Philippines -- Port operations in the Subic Bay Freeport, northwest of Manila, earned P228.3 million in revenue in 2007, up almost 20 percent from P190.87 million in 2006, the Subic Bay Metropolitan Authority (SBMA) said.

In 2005, revenue from Subic port operations reached P181.08 million.

The 2007 total consisted of P218.15 million in actual collection and P10.15 million in collectibles, according to data from the SBMA seaport department.

The Subic port recorded a total of 1,778 ship calls in 2007, compared with 1,576 in 2006. Gross registered tonnage rose to 10,843,144 from 8,446,073.

Container volume rose to 36,450 TEUs last year from 34,601 TEUs in 2006. Bulk and break bulk cargo tonnage grew to 1,899,780 tons from 1,592,212 tons.

The SBMA seaport department said the top five containerized exports last year were electronics parts, plywood and veneer, textile and garments, machinery and parts, and metal products.The five biggest import commodities were motor vehicles, electronics parts, cigarettes, duty-free merchandise, and iron and steel.

Top non-containerized exports were motor vehicles, machinery and parts, plywood and veneer, textile and garments, and fruits and vegetables.

The top five products in the transshipment category last year were petroleum products, frozen products, chemicals, cigarettes and tobacco, and electrical parts.

The SBMA said it expected the improved performance to continue this year. It cited the expansion of the Hanjin shipyard project with fresh capital infusion of $684 million, and the establishment early this year of Hanjin’s research and development arm, HHIC-Tech. Inc., with capital of $11.9 million.

The return of the Auxiliary Floating Drydock Medium-5 to Subic, a US Navy facility that is now under operation by a Filipino company, is also expected to impact the ship repair industry there, the SBMA added.

In the fourth quarter of 2008, the second phase of the new container terminal project will become operational.