04 August 2009

Subic seaport hits 2009 revenue target in 7 months

Revenue collections by the seaport department of the Subic Bay Metropolitan Authority (SBMA) in the first seven months have already exceeded the agency’s target for the entire 2009.

SBMA deputy administrator for operations Ferdinand Hernandez said collections from vessel lay-ups in Subic Bay, as well as wharfage fees on imported products boosted
seaport revenue to a total of P319.73 million, or P3.43 million more than the revenue target for this year.

The amount also represented a 15.7 percent growth over 2008 figures, Hernandez pointed out.

Comparative figures from the SBMA Seaport Department showed that from January to July, the SBMA collected P131.23 million in vessel charges, P91.67 million in cargo charges, P21.56 million in processing fees, P34.62 million in SBMA shares for port-related services, P35.6 million in leases and rentals, and P5 million in other charges.

These figures included a total of P68.3 million from fees paid by laid-up vessels, P39.8 million in wharfage fees on grains, wheat, fertilizer and rice, and P21.5 million in wharfage fees on imported petroleum products.

The P319.73-million collection from January to July 2009 was 169.7 percent more than the target for the same seven-month period, SBMA figures showed.

Because of the record collections, the SBMA Seaport Department has upgraded its 2009 target collection to P440.84 million, Hernandez said.

Hernandez said that despite the global economic slowdown, the SBMA Seaport Department “has consistently recorded banner revenues.”

“June 2009, which brought in P60.69 million is worth highlighting because it is the seaport’s highest monthly record thus far — ever since the SBMA was created in 1992,” he said.

“For the remaining quarters of 2009, it is a foregone conclusion that the targets will be surpassed,” Hernandez added.

Earlier, Subic seaport officials reported that the SBMA generated revenue worth P276.49 million from seaport operations in January to June 2009. This total also slightly surpassed the revenue posted during the 12-month period of 2008.

“This only goes to show that the SBMA is on the right track in its effort to market the Port of Subic to more shippers, importers, brokers and cargo forwarders,” said

SBMA officials also attributed the record-breaking seaport figures to President Gloria Macapagal-Arroyo’s vision for Subic and the huge investments in infrastructure like the
Subic-Clark-Tarlac Expressway (SCTEx), the North Luzon Expressway (NLEx), and the Subic Port Development.

“These have made the SBMA’s marketing strategies for the port very effective, thus enabling us to greatly enhance Subic’s performance as a logistics hub,” Hernandez also explained.

Meanwhile, SBMA seaport manager Perfecto Pascual disclosed that the SBMA’s goal-setting program has so far worked wonders for seaport operations.

Pascual said his department first made revenue forecasts in 2006, the same year when seaport income rose significantly, allowing the department to achieve 94.75 percent of its P201.46-million forecast. This was followed by a 93.54-percent completion of the P233.21-million forecast in 2007, and the chart-busting record of 121.05-percent in 2008 when Subic posted actual revenue of P276.24-million against a forecast of P228.2 million.

Pascual added that the monthly collections this year have surpassed all previous records since 1993 as the SBMA Seaport Department posted P37.62 million in January, P41.57 million in February, P51.01 million in March, P44.49 million in April, P41.07 million in May, P60.69 million in June, and P43.24 million in July. (SBMA Corporate Communications)