Asian Terminals Inc posts $18m gain in H1
Philippines-based port operator Asian Terminals Inc (ATI) reported US$18.4 million net earnings for the first half of 2012 as revenues from port operations grew 3.4 percent to $54.32 million from the same period last year, reported Manila Bulletin.
Higher international container volumes at Manila South Harbour, along with more passengers, roll-on/roll-off and break-bulk shipments at its modern Batangas Port offset the decline in domestic containers and foreign general cargoes in Manila, according to ATI.
The port operator expects to sustain its momentum into the second half of the year as the economy continues to grow and its ongoing $33 million capital expenditure programme for 2012 starts to deliver.
Among ATI's major investments this year for Manila South Harbour are the acquisition of new port equipment including two rubber-tyred gantry cranes, loaders and trucks with trailers; the expansion of its truck-holding area; and other improvements for its waterfront facilities.
Meanwhile, the crane rail extension at Pier 3, another major investment, which will increase South Harbour's berth capacity, is on stream and is scheduled for completion by end-2012. The deployment of two additional ship-to-shore cranes for Manila South Harbour is also in the pipeline.
The accomplishment of these projects will expand Manila South Harbor's terminal capacity to over one-million TEUs by 2013 and are part of ATI's investment commitment with the Philippine Ports Authority (PPA).
