The Port of Subic posted an impressive 11 percent growth in revenue in the first five months of this year, despite less ship calls recorded in the same period.
According to Subic Bay Metropolitan Authority (SBMA) Administrator and CEO Wilma Eisma, total port revenue logged from January to May 2017 in Subic reached P488.82 million, which was 11 percent higher than the P440.99 million recorded in the same period last year.
Aside from this, she said that the Subic port also registered a 23 percent increase in export value, with total exports reaching US$1.06 billion in the first five months of 2017, compared to just US$865.26 million in the same period last year.
Similarly, Subic’s import value also rose by 9 percent in the same period, or from US$628.65 million last year to the current US$682.18 million, she added.
Eisma said that much of the growth in port business in Subic involved containerized cargo, which increased in volume from 51,346 TEUs (twenty-foot equivalent units) in January-May 2016 to 55,516 TEUs this year, for an eight percent increase.
Despite the decrease in non-containerized cargo volume, the Port of Subic continues to attract more business, as 10 shipping lines now regularly call on Subic, said Ronnie Yambao, head of the SBMA port marketing office.
The shipping lines, Yambao said, include major players like the Taiwan-based Evergreen, which is the fifth biggest shipping company in the world; the Singapore-based American President Lines (APL); Nippon Yusen Kabushiki Kaisha (NYK) of Japan; Mitsui O.S.K. Lines (MOL) also of japan; SITC Container Lines of China; and Wan Hai Lines, also of Taiwan.
Yambao said the SBMA under Eisma’s administration seeks to increase container traffic in the Subic Bay Freeport and actively promotes Subic as an ideal shipping port for businesses in Central and North Luzon. (30)
