• 2020 April 15 12:00

    Philippine Ports Authority feels the pinch of COVID-19 as March income dips 79%

    The Philippine Ports Authority (PPA) is feeling the pinch of the Coronavirus Disease (COVID-19) pandemic in all aspects of its operations, the company said in its release.

    This after PPA’s income for March plunges 79% from the registered P1.401 billion in the same period of last year to a meager P300.93 million this year, approximately 16 days after the imposition of the Community Quarantine in Luzon.

    Unaudited net income for the first three months of the year also decreased by 25% from P3.337 billion posted in 2019 to P2.538 billion this year as all revenue sources of the agency registered negative performances for the period.

    Even on PPA’s regulatory income, only Manila North Harbour Port Inc. registered a positive deviation of 3.75% while the fees coming from International Container Terminal Services, Inc., and Asian Terminals, Inc. went down by 8% and 15%, respectively.

    PPA General Manager Jay Santiago explained that the low net income registered in March and subsequently the first quarter of the year was primarily because of the effects of the COVID-19 dating back when China first imposed a lockdown on 23 January 2020 and eventually the government’s imposition of the Luzon-wide Enhanced Community Quarantine from March 15 up to the present.

    Total revenues for the first three months, meanwhile, decreased by 17% to P3.753 billion from P4.509 billion registered in the same period last year. For March, revenues fell 59% to P726.64 million from P1.773 billion.

    From PPA’s revenue sources for the quarter, the hardest hit are the fees coming from its vessel Lay-up operations, which went down by 71% followed by Storage that decreased by 57.42% and arrastre and stevedoring now down by 41%. For March, hardest hit include Lay-up fees, Storage fees and share from the Terminal Appointment Booking System or TABS.

    Total expenses for the quarter, on the other hand, went up by 7.32% to P1.215 billion from P1.132 billion in the same period last year wherein bulk of the expenses went to Personnel Services which increased by almost 11%. For March, expenses went up by 14% to P425.71 million from P372.72 million.

    Late last month, the PPA has remitted at least P5 billion in dividends to the National Government to help in the country’s fight against COVID-19. The amount remitted is by far the highest dividend registered in the 45 years of existence of the agency. PPA is mandated to remit at least 50% of its net income to the National Coffers annually. PPA is a regular member of the top 10 ‘billionaires club’ of GOCCs remitting dividends to the Government.

    To further help Government in its fight against the dreaded disease, PPA is now in the process of retrofitting the Eva Macapagal Super Terminal located inside Pier 15 of the Manila South Harbor to become a COVID-19 treatment facility using the P100 million funding support from the Lopez Group of Companies. This 206-cubicle facility, when completed, is expected to complement the two Bayanihan Quarantine vessels docked at the same port which are being used for returning overseas Filipino workers and seafarers. It will also address the shortage of COVID-19 treatment facility in the National Capital Region as well as its nearby cities and provinces.

2021 July 29

11:08 MARAD awards vessel acquisition management contract to Crowley
10:43 Rosmorport’s tugboats assisted sailing boat Pallada mooring in Egvekinot and Provideniya ports
10:08 Thun Tankers announces the launching of product tanker Thun Empower
10:00 British Ports Association welcomes the resumption of international cruise in England
09:35 Baltic Dry Index as of July 28
09:18 SCHOTTEL to deliver a total of ten rudder propellers and two transverse thrusters to Sanmar Shipyards
09:09 Crude oil prices rise on reduction of US reserves
08:00 Verifavia shipping highlights widespread confusion over EEXI technical parameters
07:55 Drewry launches shipmanager Steering Group to power vessel opex benchmarking

2021 July 28

18:20 NOVATEK announces consolidated IFRS results for Q2 and H1 of 2021
18:01 New BIMCO/ICS Seafarer Workforce Report warns of serious potential officer shortage
17:09 PSA & ONE team up to enhance sustainability and reduce maritime environmental footprint
16:28 ECSA and ETF welcome WHO decision to prioritise seafarers’ vaccination
16:03 Rosmorrechflot supports the International Conference “Development of Icebreaking and Support Fleet”
15:42 ERMA FIRST adds world’s smallest ballast water treatment system to product range
15:18 DCT Gdańsk and the Port of Gdańsk enter a new era of container handling on the Baltic Sea
14:51 Oleg Shakhmardanov appointed as head of FSBI Moscow Canal
14:10 MAN wins the world-first order for methanol engine within container segment
13:56 Amursky Shipyard should enter the APR markets – Prime Minister Mikhail Mishustin
13:14 Norcod finalizes transfer of 2.4 million fish into sea phase
12:55 Captain Guryev, rescue vessel of RF Navy's Black Sea Fleet passed the Suez Canal
12:32 Onezhsky Shipyard to get first federal tranche of RUB 1.3 billion for creation of ‘digital shipyard’ this year
12:13 DNV backs crew change programme in South East Asia
11:10 Firth of Forth proposed as Scotland’s Green Port
10:38 The Port of Gdansk welcoms the first cruise ship of the season
10:10 Andrey Severilov re-elected Chairman of the Board of Directors of FESCO
10:03 Haldor Topsoe and Yanchang form joint venture and build methanol catalyst facility in China
09:47 FESCO held repeated Annual General Meeting of Shareholders
09:28 Crude oil prices rise on reduction of US reserves
09:12 Baltic Dry Index as of July 28
09:05 Neal elected Long Beach Harbor Commission President
08:59 Seanergy announces delivery of one Capesize vessel and new bank loan facility

2021 July 27

18:34 Port of Kaohsiung wins International Association of Ports and Harbors (IAPH) 2021 Award
18:16 Port Houston launches business equity program
17:56 The UK’s most eastern port welcomes the maiden call of Noble Caledonia’s flagship vessel
17:36 ONE offers free transportation of oxygen tanks to India to fight the COVID-19
17:06 Pilbara Ports Authority launches its annual Recreational Vessel Safety Campaign
16:42 Carbon Trust to support BEIS in development and demonstration of innovative floating offshore wind technologies for the UK
16:14 Cargo Integrity Group calls for risk-based measures to prevent pest contamination
16:03 Passengers travelling via the Port of Helsinki should prepare for occasional congestion
15:33 APM Terminals Mobile targets Midwest supply chains
15:02 MOL jointly develops new energy-saving sail to boost ship propulsion
14:42 ICTSI South Pacific starts bulk coffee operations
14:24 GTT receives an order for the tank design of six new LNG carriers
14:11 IPEM and IAA PortNews launch their joint analytical project on cargo handling in Russian seaports
13:42 Port of Savannah moves 5mln TEUs in H1 2021
13:29 Launching of sea cruise between Aktau and Astrakhan under consideration
13:12 Port of Zeebrugge posts results for H1 2021
12:52 MSC takes delivery from Fincantieri of MSC Seashore
12:25 ABS leads EMSA consortium studying alternative fuels and technologies
12:12 IADC reveals the fifteen nominations in the running for the IADC Safety Awards 2021
11:44 FESCO performs its first intermodal shipment of containers with shoes from China to Krasnodar via CPV
11:26 MSC, Fincantieri and Snam to partner for world’s first oceangoing hydrogen-powered cruise ship
11:10 Yang Ming takes delivery of one more 11,000 TEU ship to upgrade Trans-Pacific service
10:45 The President of the European Council Charles Michel was briefed on the capabilities of the Port of Baku
10:39 Damen Marine Components awarded contract to provide rudders and steering gear for Navantia
10:23 DCT Gdańsk and the Port of Gdańsk enter a new era of container handling on the Baltic Sea
09:59 CMA CGM to launch a new RORO Short Sea Med service connecting Marseille & Barcelona with Casablanca
09:51 LNG terminal to be built on Sakhalin by the end of 2023
09:32 Baltic Dry Index as of July 26