18 August 2008

Subic exports hit $416-M in 1st half; Imports rise by 28% to $1.1-B

Subic-made products exported to various markets abroad raked in a total of $416 million in the first half of 2008, $1.5 million more than the total recorded in the same period last year.
According to the Subic Bay Metropolitan Authority’s Trade Facilitation and Compliance Department (SBMA-TFCD), Subic’s first semeter export figure was boosted by deliveries of electronic products, computer peripherals, and precision equipment, as well as the sale of the first subic-made ship by Korean shipbuilder Hanjin Heavy Industries Corp.-Philippines (HHIC-Phil).

Wistron Infocomm Phils., a Taiwanese computer manufacturer that has consistently topped Subic’s exporters list, remained the leader in this period with a freight on board (FOB) export value of $142 million.

The top slot for the month of June, however, was snatched from Wistron by HHIC-Phil, when it posted an FOB value of $59.5 million for delivering MV Argolikos, the first container ship built by the firm here.

The ship, which was delivered to the Greek shipping company Dioryx Maritime Corp., also made HHIC-Phil the second biggest exporter during the first six months.

Completing the list of top 10 exporters in January-June 2008 are: Hitachi Terminals Mechatronics Phils. Corp. (Taiwan) with $41.9 million; Sanyo Denki Phils. (Japan), $38.4 million; Lets Do Mobile Phils. (HongKong), $20.4 million; Juken Sangyo Corp. (Japan), $17.2 million; Tong Lung Metals Inc. (Taiwan), $11.9 million; Hitachi Air Conditioning Products Inc. (Taiwan), $10.6 million; Nidec Subic Phils. (Japan), $8.3 million; and Nicera Philippines, Inc. (Japan), with $7.4 million.

SBMA records indicated that almost 86 percent of the total FOB value recorded in the first semester were produced by the top 10 exporters.

Within the six-month period, the biggest FOB value was recorded in June — $107.3 million, with more than half of this amount contributed by HHIC-Phil.

Meanwhile, imports by business locators in the Subic Bay Freeport during the same period reached $1.1 billion, representing a 27.7 percent increase over last year’s record of $854.2 million for the first six months.

Topping the list of importers here was PTT Philippines Trading Corp., which deals in oil and petroleum products, with a total import worth $278.4 million in FOB value.

PTT was followed in the list by HHIC-Phils. with $169.5 million; Hanjin Heavy Industries and Construction Corp., with $119.1 million; Lets Do Mobile Philippines, with $111.4 million; and top exporter Wistron Infocomm, with $101.5 million.

The other importers that made it to Subic’s top 10 in January-June 2008 were:Tri-Solid Movers Services, Inc., with $38.5 million; Sanyo Denki Phils. Inc., $21.3 million; Hitachi Terminals, with $20.7 million; Honeywell Ceasa (Subic Bay) Co., Inc., $16.5 million; and Juken Sangyo (Phils) Corp., $12..9 million.

The firms in the top 10 recorded about 82 percent of Subic’s total import value in the first six months.

In the same period, the SBMA said that seaport revenue reached P114.5 million, which is equivalent to a 10.9 percent increase over the P103.2-million posted in the first semester of 2007.

The seaport revenue was derived mainly from charges to foreign and domestic vessels that called at the Port of Subic, including wharfage and storage fees.

The SBMA Seaport Department also said that the January-June revenue this year surpassed Subic’s target of P111.7 million by 2.26 percent. (SBMA Corporate Communications)