Net income of the Philippine Ports Authority (PPA) rose 16 percent year-on-year in the first nine months of 2016 due to the introduction of the terminal truck appointment and booking system (TABS) earlier this year.
“Net income increased by 16.11 percent to P5.99 billion from only the P5.16 billion raked in last year,” PPA General Manager Jay Daniel R. Santiago told the members of the PPA Board in their regular meeting Friday.
Latest data from the PPA showed that all its revenue sources posted significant increases coupled with a modest decline in total expenses.
“The decrease in storage fee of about 39.56 percent brought about by the implementation of several anti-port congestion measures has been offset in the other revenue items as operations became more efficient and effective due to these measures, specifically TABS that hastened the movement of inbound and outbound containers at the Manila Ports,” Santiago explained.
“The modest increase in the Fund Management income of about 6 percent to P68 million due to the hike in interest rates for special/high-yield savings deposits has also contributed to the strong revenue performance of the agency,” Santiago added.
Gross revenues rose 8 percent to P10.62 billion for the period in review from P9.84 billion posted a year earlier wherein port revenues reached P10.55 billion from P9.78 billion accumulated in the same period last year.
Total expenses, meanwhile, decrease by 1.13 percent to P4.63 billion from P4.69 billion in the first nine months of 2015 because of the gradual disbursement in the implementation of repair and maintenance projects, complemented by the decrease in depreciation charges.
Operating expenses declined by 2.56 percent to P4.49 billion from P4.61 billion a year earlier. However, non-operating expense increased by 81 percent to P145.02 million from only P80.11 million registered in the January-September 2015 period.
Combined yard utilization at the two Manila ports is currently at 65 percent, or approximately 52,900 TEUs (20-foot equivalent units) inside the terminals, while yard productivity remains high, ranging from 20 to 30 moves an hour.
PPA said the efficient yard management for both terminals was attributable mainly to the truck Terminal Appointment Booking System (TABS) imposed recently that catapulted port efficiency by at least 96 percent, a view that was shared by both Asian Terminals Inc. (ATI), and International Container Terminal Services Inc. (ICTSI), the operators of the two main terminals at Manila.
Prior to implementation of TABS, the average daily gate-outs at the Manila ports was at 4,500 to 5,000 TEUs, compared with the post-TABS imposition of 7,000 to 7,500 TEUs daily gate-outs.
The recent decision of the Metro Mayors, through the Inter-Agency Council on Traffic to suspend number-coding “window hours” for private vehicles, is also expected to further ease the withdrawal and deposit of containers at the Manila Ports, particularly Christmas cargoes, the PPA said.