Port of Subic Momentum: Busy throughout 1st Semester of 2015
THE highly regarded Port of Subic has handled over half of its container throughput target for 2015 by the end of the first semester, according to data released by the Seaport Department of the Subic Bay Metroplitan Authority (SBMA).
“We have weathered the so-called “lean months” posting a 208.6% growth for the month of June alone, second only to January’s 433.6 %,” according to SBMA Chairman & Administrator Roberto V. Garcia.
For the rest of the months of the first semester, growth rate ranged from 133% to 187% compared to last year’s record.
“At the rate we’re going and considering the expected customary increase in activity during the period leading to the Christmas season, we are well on our way to meeting, if not topping our target,” Garcia added.
SBMA targets a throughput of some 120,777 TEUs for the year, 54% or 65,252 TEUs of which have already been posted by the end of June 2015.
Non-Containerized Cargo Volume also made a remarkable record 3,369,081 metric tons at the end of June, completing 47% of its 7,175,506 metic tons target for 2015.
Cabotage Law
Garcia also told Subic Bay News that “the passage of a new law that allows foreign ships to transport and co-load foreign cargo for domestic transshipment will increase cargo traffic in Subic.”
Republic Act no. 10668, also known as the Cabotage Law, Garcia added, will lower shipping costs, thus, making local shipping lines more competitive.
According to Garcia, the Philippines has one of the highest inter-island shipping rates, and reports reflect that it is more expensive to ship a container from Manila to Davao than from Manila to Singapore. “It doesn’t make sense and that is not good for business,” he said.
Growth Momentum
The Port of Subic has kept up its growth momentum that began in 2012.
“For the past three years, the Port of Subic has continued to register positively in terms of revenues, gross registered tonnage (GRT), number of ship calls, and containerized and non-containerized cargos,” Garcia said.
Annual port revenues in 2011 were recorded at P371 million, which by 2014 ballooned to P908 million or a total of 126 %.
Records show Revenues collected by the Port of Subic for the first semester of 2015 already reached P584,184,105.
Ship calls also showed a 15% increase from 1,803 in 2011 to 2,591 in 2014. In comparison, Ship calls in the Port of Subic for the 1st semester of 2015 alone almost equalled the 2011 record of 1,657
GRT was only 14 million in 2011 but increased to 40 million in 2014 for a 186% growth. In 2015, the Port of Subic already recorded some 24,106, 236 GRT, completing 42.4% of its 56,804,840 target for the whole year.
(Victor Verbez G. Vizcocho III)
