PORT operator Asian Terminals Inc. (ATI) recorded a net income of P1.91 billion in 2016 on the back of the record cargo volume handled by its international gateway ports in Manila and Batangas.
In a statement on Thursday, the company said its net income last year was 7.8 percent higher than the P1.77 billion recorded in 2015.
ATI said revenues rose by 13.5 percent to P9.25 billion last year from P8.15 billion in 2015 driven by “robust international container cargoes in Manila South Harbor and Batangas Container Terminal,” supplemented by international roll-on/roll-off cargoes at the Batangas Port.
According to ATI, the Manila South Harbor is on its way to breaching the 1.0 million TEU (twenty-foot equivalent unit) mark for the first time in three decades.
Meanwhile, the Batangas Container Terminal handled nearly 160,000 TEUs last year, 18 percent more than was recorded in 2015, ATI said.
According to ATI, it has begun construction of a multilevel CBU (completely built unit) storage facility in the Batangas Port to respond to the robust consumer demand for vehicles. The facility will be able to store over 5,000 CBUs when completed by 2018.