Strong trade flow in step with the resilient Philippine economic growth delivered solid third quarter results for listed trade enabler Asian Terminals Inc. (ATI).
In a regulatory disclosure, ATI reported that its revenues for the nine-month period reached P11.4 billion, up by 16.8 percent from P9.8 billion last year, on account of higher volumes. Net income as of end-September stood at P3.2 billion, 77.7 percent higher than the P1.8 billion it posted during the same period last year.
ATI said revenues from international container operations in Manila South Harbor and Batangas Container Terminal increased by 12.7 percent and 56 percent, respectively, while revenues from its non-container operations in Batangas slightly increased by 0.1 percent.
From January to September, ATI collectively handled nearly 1.14 million twenty-foot equivalent units (teus) of containerized cargoes, representing a 9.5-percent volume growth compared to the same period in 2022.
For its non-containerized operations, the modern Batangas Passenger Terminal continued to scale new heights as the country’s premier interisland travel hub. It handed close to 2 million outbound passengers from January to September, or 17 percent higher than last year. This brings Batangas Port closer to its annual average foot-traffic for outbound passengers before the pandemic.
Domestic vehicle traffic transiting Batangas Port likewise increased by nearly 4 percent to more than 390,000 vehicles during the period, underscoring the importance of Batangas Port as a transport and economic linkage in the Southern Tagalog nautical backbone.
Batangas port is positioned to handle more passengers, vehicles, and domestic trade with the completion of its port modernization project towards the first quarter of 2024. Its completion will enable the terminal to handle over 6,000 outbound passengers in any one time, from its current capacity of 3,000, officially making it the biggest, busiest, and most modern passenger terminal in the Philippines.
Image credits: www.asianterminals.com.ph