Subic seaport raises target

SUBIC BAY FREEPORT — Subic Bay Metropolitan Authority’s (SBMA) Seaport Department has raised its collection target this year to P440.84 million, SBMA deputy administrator for operations Ferdinand L. Hernandez said in a press statement here yesterday.

This, he said, is because the department had surpassed its full-year target of P316 million, collecting P319.68 million in January to July.

The total as of July was also 15.7% more than seaport revenues reported in the same period last year.

"For the remaining months of 2009, it is a foregone conclusion that the [original] target will be surpassed," Mr. Hernandez said.

The statement said that the seven-month collection consisted of the following:

P131.23 million in vessel charges;

P91.67 million in cargo charges;

P35.6 million in leases and rentals;

P34.62 million in fees for port-related services;

P21.56 million in processing fees; and

P5 million in other charges.

Monthly breakdown was as follows: 37.62 million in January, P41.57 million in February, P51.01 million in March, P44.49 million in April, P41.07 million in May, P60.69 million in June, and P43.24 million in July.

These figures included:

P68.3 million in fees paid by laid-up vessels — or international ships laid idle by the current global crisis;

P39.8 million in wharfage fees on grains, wheat, fertilizer and rice; and

P21.5 million in wharfage fees on imported petroleum products.

"Despite of the global economic slowdown, the SBMA Seaport Department has consistently recorded banner revenues," Mr. Hernandez said.

Earlier, Subic seaport officials said SBMA generated revenue worth P276.49 million from seaport operations in the first half.

"June 2009 alone, which brought in P60.69 million, is worth highlighting because it was the seaport’s highest monthly record thus far, ever since SBMA was created in 1992," said Mr. Hernandez. — RMG - Business World