ATI sees efficient ops in peak season, nets record results in Q3
November 13, 2019
With the Holiday season fast approaching, listed Asian Terminals Inc.(ATI) expects no cargo flow bottlenecks with expansion programs in its gateway ports in Manila and Batangas taking traction in support of the growing Philippine economy.
In Manila South Harbor (MSH), ATI recently added around 5,000 teus (twenty-foot equivalent units) in static cargo space with the completion of its Container Yard 2 extension, which has a total of five blocks for rubber-tired gantry (RTG) operations.
A further capacity of 10,000 teus is expected to be delivered from 2020 to 2021 with the ongoing expansion of its main yard and the scheduled extension of its berthing facilities in Pier 3.
Early this year, Batangas Container Terminal (BCT) effectively doubled its annual capacity to around 500,000 teus, with the deployment of two more quay cranes, four additional RTGs and the expansion of its berthing and yard facilities.
ATI said that all these investments, in line with its commitment with the Philippine Ports Authority (PPA), will sustain efficient terminal operations for the benefit of its shipping line customers and beneficial cargo owners.
Meanwhile, ATI reported strong results for the third quarter of the year, sustained by robust growth of international cargoes handled by MSH and BCT.
In a regulatory disclosure to the local bourse, ATI said that its 9-month revenues reached Php10.17 billion, up by 14.8% from Php8.85 billion in the same period last year on account of double-digit cargo volume growth handled by both marine terminals.
ATI said its income from January to September rose by 30.2 percent to Php2.85 billion compared to Php2.19 billion during the same period last year.
From January to September, MSH handled a record volume of over 960,000 teus, higher by 12.3% compared to last year.
Sustaining its role in facilitating trade in Southern Luzon, BCT almost equaled its full-year 2018 volume as of September, as it facilitated the delivery of nearly 240,000 teus for the 9-month period representing a 38.7% growth.
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