03 March 2014

Gov’t pushes use of Subic container port

In the aftermath of the controversial expanded truck ban, the Subic Bay Metropolitan Authority (SBMA) is pushing for the use of a new container port in Subic.

SBMA chairman Roberto Garcia in his state of the Freeport address last week reported an 800-percent increase in investments in 2013. The SBMA is targeting P23 billion in new investments this year.

This brings cumulative investments to $9.4 billion from 1992.

Total jobs in SBMA rose nearly 70 percent to 4,402 or net jobs of 1,805 from 2,595 in 2012.

Garcia said SBMA’s goal is to transform Subic into a major logistics hub in Asia.

In 2013, port revenues rose 56 percent to P626.54 million, compared with P402.44 million in 2012. Cargoes handled at the ports also increased in 2013.

Containerized cargo rose 3.2 percent to 37,460 twenty-foot equivalent units (TEUs) in 2013 from 36,304 TEUs in 2012. Non-containerized cargo increased 8.6 percent from 2.21 million metric tons from 2.4 mmt in 2012.

There are two new container terminals in Subic, NCT-1 and NCT-2 both operated by Subic Bay International Terminal Corp., a unit of port operator International Container Terminal Services Inc. At full development, these ports can handle 800,000 TEUs per year. (Malaya Business Insight)