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  • Philippine Ports Authority net income up 9% in 1H 2022
  • 2022 August 17 12:11

    Philippine Ports Authority net income up 9% in 1H 2022

    The Philippine Ports Authority (PPA) continues to rebound from the effects of the global pandemic as net income increased by 9% in the first six months of the year, according to PPA's release.

    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.

    Data from the PPA showed that net income for the period in review reached P5.024 billion from P4.611 billion registered in 2021. Against the target of P4.056 billion, the actual figure is 24% higher.

    Gross revenues, on the other hand, soared 14.28% to P9.438 billion for the period versus the P8.258 billion recorded in 2021. Expenses, meanwhile, went up 14% to P4.413 billion from P3.646 billion in 2021.

    Almost all revenue streams of the PPA posted a positive deviation for the January to June 2022 period wherein the highest revenue increase came from concession fees and other income posting a 552% hike followed by storage fees that increased 55%, and domestic dockage that went up by 28%. Revenues from Lay-up operations and interest incomes suffered the biggest setbacks for the period declining by 93% and 87%, respectively.

    The PPA is averaging a 9% increase in its revenues at least in the last 18 months, which is a steady pace moving toward pre-pandemic levels.

    PPA is also bent on further improving its operations based on the earlier pronouncements made by President Ferdinand R. Marcos, Jr., and the Transport Secretary Jaime J. Bautista. Initially, the agency is targeting those low-hanging fruits and slowly expands from there.

    Earlier, PPA reported that total cargo throughput went down 1.46% to 125.485 million metric tons (MMT) from 127.343 MMT in the same period last year. Export volume posted the most significant decrease of 14.4% dragging the total foreign cargo volume by 5.5%.
    In terms of containerized cargo traffic, a 2.66% hike was recorded to reach 3.733 million twenty-foot equivalent units (TEUs) anchored on the 6.14% increase posted by imported boxed cargoes. Domestic box volume, meanwhile, declined by 1.83% to 1.413 million TEUs.

    Passenger volume again posted a 144% increase with the resumption of domestic tourism, trade, and regular travel activities earlier this year.




2022 October 6

19:30 Loading of General Chernyakhovsky ferry begins following flag-hoising ceremony
18:07 MSC updates Noumea Express service
17:29 Russian Maritime Register of Shipping issues statement on the EU Council press release of October 6, 2022
17:27 100-pct stock of Murmansk Sea Fish Port collected in favor of the state under action filed by FAS
17:12 EU adopts its latest package of sanctions against Russia
17:05 Three partners to join the North Field South development project
16:58 Nexans signs Empire Wind contract to bring renewable energy to New York
16:39 RF Government counts on having about 1,100 various ships built at domestic shipyards by 2030
16:38 JCB appoints Maersk as its new global Lead Logistics Provider
16:13 Port Houston orders 26 eco-efficient hybrid Konecranes RTGs
15:35 EST-Floattech signs contract for refit to hydrogen-electrical propulsion of 'FPS Maas' inland shipping barge
15:20 Cargo traffic on North-South ITC can double by 2030 – Mikhail Mishustin
14:58 KSOE wins orders for 7 vessels worth over KRW2tn - BusinessKorea
14:37 EU agrees on eighth package of sanctions against Russia
13:41 MABUX: Bunker Weekly Outlook, Week 40, 2022
13:19 Port of Gdansk handled over 7.6 million tonnes of coal year-to-date
12:55 Allseas to fit vessels with hybrid power solutions from Kongsberg Maritime
12:15 Russian ships can carry about 90 million tonnes of cargo per year
11:36 LR signs contract with Birdon for new Royal Australian Navy Sail Training Ship
11:08 First batch of coal shipped from Syradasayskoye field on Taimyr peninsula
10:34 AB Klaipėdos Nafta declares purchase option to acquire Independence
10:30 Oil production in Russia to decrease by 6-7% in 2023 - Alexander Novak
10:09 NYK and Group Company to introduce integrated shipping system as a DX Foundation
09:47 Wartsila and Capital Gas to partner in greenhouse gas reduction with Fleet Decarbonisation Programme
09:26 OPEC+ approved oil production cut by 2 million barrels a day
09:01 MABUX: In Global bunker market upward trend to continue on Oct 06
07:50 Crowley completes the purchase of 42 acres in Salem, Massachusetts, for the development of the state’s second major offshore wind port terminal

2022 October 5

18:37 Austal Australia to undertake patrol boat autonomy trial for Royal Australian Navy
18:06 Associated British Ports signs new agreement with the UK’s largest privately owned fertiliser importer
17:55 Initiation ceremony for cadets of Admiral Makarov State University of Maritime and Inland Shipping held in Kronstadt
17:36 Kongsberg Digital signs new partnership agreement with Alpha Ori Technologies
17:25 Unmanned electric passenger ships can appear in Saint-Petersburg
17:06 MSPs back Forth Green Freeport bid to deliver green growth plan for Scotland
16:52 DSME lands LNG carrier orders worth KRW1.85tn - BusinessKorea
16:08 GTT receives an order from Hyundai Heavy Industries for the tank design of seven LNG carriers
15:50 Container traffic on Russian Railways’ internal network in 9M’2022 rose by 3.6% YoY
15:36 WSC, ICS and ASA submit their input to the European Commission on the renewal of the CBER
15:27 Bunker sales at Vladivostok port in 9M’2022 fell by 28% YoY
15:04 Alfa Laval to be a technology partner for the project to investigate the on-board capture, storage and off-loading of carbon dioxide
14:41 IMO's GreenVoyage2050 celebrates five years of its Global Industry Alliance to Support Low Carbon Shipping
14:18 Marine passenger infrastructure of Saint-Petersburg should be converted to cater for inland water transport ‒ expert
14:12 ABS approves pioneering autonomous technology for HHI Group
13:54 NOREBO commences preparation works on construction of reefer terminal “Udarnik” in Murmansk Region
13:32 Pavilion Energy and MOL name newbuild LNG bunker vessel
13:02 General cargo ship bound for Russia disabled in Bosphorus - FleetMon
12:42 USC commences serial production of propulsion/steering units ДРК1200М
12:20 UK Government funds consortium led by Unitrove to deliver world’s first zero-emission multi-fuel station for hydrogen and electric ships
12:01 Finnlines to launch two new ro-pax vessels in autumn 2023
11:36 MOL signs LNG carrier charter contract for Sakhalin II project
11:29 Throughput of Azov port in 9M’2022 fell by 13% YoY to 6.8 million tonnes
11:21 Port of Rotterdam Authority presents future scenarios for 2050
11:01 Singapore sets out to drive transformation in bunkering on the world's largest forum for the marine fuel industry
10:39 A.P. Moller - Maersk orders six large ocean-going vessels that can sail on green methanol
10:20 Anemoi and COSCO Shipping Heavy Industry to offer full wind propulsion technology installation services
10:05 Shearwater GeoServices to introduce the geophysical company’s first dual ROV seismic vessel
09:39 MOL joins Blue Visby Consortium
09:28 Traffic volumes on Ust-Luga – Baltiysk ferry line are stable
08:52 MABUX: Upward changes to continue in Global bunker market on Oct 05

2022 October 4

18:43 Samskip adds Value Maritime CO2 capture to decarbonisation strategy
18:32 DEME upgrades DP fallpipe vessel fleet