Olongapo SubicBay BatangGapo Newscenter

Tuesday, December 09, 2008

SBMA auctions new container terminal

The Subic Bay Metropolitan Authority has opened the bidding for the operation and management of the New Container Terminal-2, the second phase of the multi-million dollar project designed to strengthen Subic’s capacity as a globally competitive maritime service and logistics port.

Freeport Administrator Armand Arreza said the agency would auction NCT-2 in Cubi Point as a transshipment hub for shipping lines.

“What we’re basically looking for is a shipping line or a port operator who has the capacity to manage and maintain the NCT-2,” said Arreza, who is also chairman of the special bids and awards committee for port commercialization, in a statement.

He said the NCT-2, like the first phase of the terminal project, was a critical infrastructure for the Subic port and “we’d like to maximize its potential to make Subic a world-class player in the logistics business.”

The NCT-2, which has an annual cargo-handling capacity of 300,000 20-foot equivalent units, was completed early this year.

Arreza said the new terminal facility has 14 hectares of container yard, a 280-meter long wharf, two units of 53-ton quay gantry cranes, buildings, equipment and utilities.

He said a bidder should be an operator or a member of an international container shipping line consortium.

He said the bidder should be currently operating an international container port terminal handling at least 2 million TEUs a year, or a capacity of 100,000 TEUs, for a bidding consortium.

The bidder or consortium of bidders must also have a net worth of at least $50 million, which could also be a combined net worth in case of a consortium.

Arreza said the bidders should submit audited financial statements in the last five years, a sworn statement attesting no material change in the financial condition since the last audited financial report and letters or testimonials from reputable banks that the bidder was banking with them.

Bidders will also be required to submit evidence of the availability of or the capacity to raise the amount needed for the operation and management of NCT-2 in the amount of at least $50 million.

Legal requirements state that each bidder must submit proof of legal eligibility and competence to undertake the operation and maintenance of NCT-2 in terms of corporate personality, government authorization and licenses. It should also have no tax accountability.

Arreza said the requirement also applies to foreign bidders, whose documents must be duly authenticated by Philippine consular officials in the country of the foreign bidder. By Elaine R. Alanguilan - Manila Standard Today

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