SBMA posts P997-M seaport income

The Subic Bay Metropolitan Authority (SBMA) recorded more than P997 million in sea port income in the first nine months of this year, as containerized cargo trade in this free port continued to grow with the gradual reopening of the global economy.

SBMA Chairman and Administrator Wilma T. Eisma said the SBMA Seaport Department recorded a 15 percent increase in revenues in January to September 2021 compared to the P863.7-million earnings posted in the same period in 2020.

“The increase in container traffic definitely carried the day for Subic because it also helped us realize increases in processing fees, SBMA shares from the operation of the container terminal, as well as leases,” Eisma said.

“The positive figures in these revenue sources had offset decreases in other areas like non-containerized cargo, which has markedly fell since the Covid-19 pandemic,” she added.

Eisma said the SBMA further expects container traffic—and Subic port revenue—to grow this year, as third quarter figures placed container cargo volume at 69,355 TEUs (twenty-foot equivalent units) compared to 62,103 in the second quarter.

“The 12 percent increase in containerized cargo volume corresponded to an 11 percent increase in our port revenue, which grew from P317.2 million in the second quarter to P351.9 million in the third quarter. And so far, this upward trend continues,” she added.

According to a report from the SBMA Operations Group, the biggest income earner for Subic seaport was the agency’s share from container terminal operations, which yielded P302.3 million in January to September this year.

The container terminal operation was buoyed by a 32 percent increase in exports, from 24,951 TEUs in January-September 2020 to 32,891 TEUs this year, and a 16 percent rise in imports that grew from 77,663 TEUs last year to 90,019 TEUs this year.

The next biggest income sources for the SBMA sea port are lease rentals, which brought in P252 million, cargo charges with P248.1 million, and vessel charges with P126.1 million.

SBMA Senior Deputy Administrator for Operations Ronnie Yambao said the SBMA shares registered a 46 percent growth over the January-September 2020 record because of increased cargo handling fees, hauling and variable fees, even as a slight dip of 0.4 percent was noted in foreign container vessel ship calls in the same period.

Processing fees, cargo charges and lease rentals, meanwhile showed respective increases of 11 percent, 3 percent and 11 percent, Yambao added.

Yambao also pointed out that while total non-containerized cargo volume decreased by 10 percent in the same period, or from 5.39 million metric tons (MTs) in the first three quarters of 2020 to 4.86 million MTs in the same period this year, the liquid bulk petroleum sector defied the downtrend with an 18 percent increase, or from 1.84 million MTs to 2.17 million MTs this year.

Meanwhile, the SBMA Trade Facilitation and Compliance Department (TFCD), which handles import and export transactions in the Subic Bay Freeport, reported that its revenue grew from P83.66 million in the first three quarters of 2020 to P104.22 million in 2021.

TFCD manager Anna Joy Quito attributed the 25 percent increase to the increase in import-export fees and admission fees brought about by the gradual reopening of the economy.

TFCD records showed a 67 percent increase in Subic export transactions, from $630 million in 2020 to $1.05 billion in 2021, and a 52 percent rise in importations, from $815.9 million in 2020 to $1.24 billion in 2021. (MPD-SBMA)

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Subic firm ramps up production of ventilator parts

A Japanese company in this premier free port zone is trying to cope with great demand for cooling fans used in mechanical ventilators, which are critical medical equipment used in caring for patients infected by the new coronavirus disease (Covid-19).

Sanyo Denki Philippines, Inc. (SDPI), a locator at the Subic Techno Park (STEP) here, also used to manufacture uninterruptible power supply (UPS) units, servo amplifiers and stepping motors, but has now devoted its operations to producing cooling fans, said company president Koichi Uchibori.

Uchibori and SDPI design manager Ted Yamazaki, who met with Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Wilma T. Eisma on Monday when the SBMA official visited the company’s factory, said there is growing demand for cooling fans these days because of the Covid-19 pandemic.

Yamazaki said that the company’s cooling fans are used by companies like Siemens, Inogen and Hitachi for various medical equipment, including mechanical ventilators that move breathable air into and out of the lungs of patients who are physically unable to breathe.

But due to the enhanced community quarantine (ECQ) rules that required export-oriented businesses to house their staff within the Freeport zone, Uchibori said that company operations have been drastically reduced to 10 percent of the previous capacity.

“The number of cooling fans we produced monthly used to reach 80,000, but we can only produce from 6,000 to 10,000 units now,” Uchibori lamented.

As of last February when the ECQ was not yet in place, Sanyo Denki had a total of 4,273 as workers, including those under contract with manpower services. Uchibori said the company now operates with only 600 workers who are housed in various hotels inside the Subic Bay Freeport.

“It is expensive keeping them in hotels, and also paying them double,” Uchibori noted. “Still we are ready to take in more, but the problem now is where to house them,” he added.

Uchibori also said that despite the huge overhead for the company’s current operations, SDPI is not charging their customers any extra amount for their in-demand products.

Aside from ventilators, the firm’s cooling fans are also used in X-ray and MRI machines, virus DNA analyzers, blood analyzers, and portable oxygen concentrators.

With this, Chairman Eisma assured Sanyo Denki officials that the SBMA will help in easing up the supply chain for the company because of its vital role in the fight against Covid-19.

She also expressed gratitude to the company and its workers for continuing to produce the vital components needed for ventilators and other medical equipment.

“We will help you find ways so that shipment of your raw materials won’t be delayed, and so that you can employ more workers to step up production of this very important product,” Eisma told Uchibori and Yamazaki.

“Subic salutes you for your important role in the fight against the Covid-19 pandemic,” she added. (MPD-SBMA)

PHOTOS:

Workers inspect component parts before installation in cooling fans produced by Subic firm Sanyo Denki for various medical equipment like ventilators and virus DNA analyzers.

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Subic Port ready for peak season

Subic Bay International Terminal Corp. (SBITC), the container operator of Subic Freeport Area, assured that the company is prepared for the expected surge in cargo volume this peak season.

In a statement Tuesday, SBITC said it is already seeing the rush in imports and exports which is typical for the holiday season.

“The country’s appetite for imported goods is typically highlighted during the Christmas holiday up until Chinese New Year. With a healthy GDP (gross domestic product) outlook, we can expect this trend to remain a key driver in container volume growth in the months to come,” SBITC said.

It noted that cargo volumes in Subic port recorded growth for 13 straight months.

SBITC added that Subic port is also prepared to accommodate shipments initially destined for Port of Manila.

“Businesses in North and Central Luzon benefit most from our services, but we have seen shipments destined not only for Manila, but in Visayas and Mindanao as well. SBITC works with other ports in the Philippines to ensure operational excellence is attained as goods move through these key markets that are in and out of the Philippines,” the company said.

It added that Subic port also offers one-stop-shop service to ease and fast-track transactions.

“From enough space and manpower to increased efficiency through our One-Stop-Shop, our terminal is ready to accommodate the surge of cargo handling services not just this holiday peak season, but well into 2019 and beyond,” SBITC said.

“Recently, we have confirmed further investments in port equipment and systems to continuously outpace market growth. This allows the terminal to remain healthy from a utilization standpoint which we continue to deliver to our customers both at the quay and our gates,” it added.

Goods that pass through Subic port include agricultural equipment, grains, fertilizers, electronic parts, and general department store merchandise for North and Central Luzon businesses. (SNL)

Photo:

Cargo unloading at SBITC's New Container Terminal (NCT) at the Port of Subic.  

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Rail to enhance Subic port’s attraction

Subic port is increasingly becoming an important trade center pushed by and its attraction will be enhanced with government’s plan to build a P57-billion railway connecting the Freeport with Clark.

In a report, the Subic Bay Metropolitan Authority (SBMA) said exports going out of Subic port rose 38 percent to $2.3 billion in 2017 from $1.7 billion in 2016.

Imports that passed through the port similarly rose 11 percent to $1.77 billion from $1.6 billion in 2016.

The report shows containerized cargo volume jumped 13 percent to 140,938 twenty-foot equivalent units (TEUs) from 124,707 TEUs in 2016.

In contrast, non-containerized cargo volume fell 6 percent to 6.6 million metric tons from 7 mmt in 2016.

Ship calls improved in the international front, outstripping domestic calls.

Foreign ship calls stood at 1,526, up 12 percent from 1,365 in 2016. Domestic ship calls however declined 27 percent to 1,252 from 1,704 in 2016.

As a result of these activities, port revenues in Subic in 2017 rose 6 percent to P1.21 billion from P1.14 billion in 2016.

Government is planning to build a railway connecting Subic with Clark airport, initially as a cargo and eventually as a passenger service.

Joshua Bingcang, vice president for business development and operations of the Bases Conversion and Development Authority (BCDA) said a new alignment would be set up between Subic and Clark passing through Dinalupihan in Bataan and Floridablanca, Porac and Angeles City in Pampanga.

Bingcang said the establishment of the cargo rail will incentivize business to shift from Manila and decongest public roads.

He said hauling goods via rail could be cheaper by 25 to 50 percent than by land.

“This system will further bring down cost of movement of goods, an alternative to truckers especially those using Gapan-Olongapo road and the Subic-Clark Tarlac expressway,” said Bingcang.

The project, awaiting approval of the National Economic and Development Authority board, is one of the projects under official development assistance from the government of China.

Bingcang said the BCDA hopes to finalize the loan support this year and start construction next year.

Construction could take three years.

Subic-Clark railway is part of the Greater Luzon Railway System being planned by government. Malaya Business Insight)

http://www.malaya.com.ph/business-news/business/rail-enhance-subic-port%E2%80%99s-attraction

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Subic among productive freeports in PH

Exports from Subic Freeport rose 89 percent in total value in 2017 from 2016, making Subic one of the most productive freeports in the Philippines.

Subic Bay International Terminal Corp. (SBITC) said products exported by new customers in 2017 include fashion accessories like bags from Bataan, trucks and agricultural equipment from Subic, grains, feeds, and fertilizer from Bulacan, and electronic parts and general department store merchandise from Clark.

SBITC operates the New Container Terminals (NCT) 1&2 which handle shipments for businesses in Central and Northern Luzon.

Roberto Locsin, SBITC president, said many of SBITC’s customers are manufacturers that import raw materials and export finished goods.

Most of the products are exported to Asia, the United States and Europe.

“We welcome the growing number of local businesses employing our facilities in the Subic Bay International Terminal NCT 1&2,” Locsin said. “We are glad to see that these industries are discovering and taking advantage of Subic Bay as a gateway to the global market,” he added.

Locsin also sees an uptick of industries importing goods for domestic consumption.

“There is a good balance of import and export volume in the Subic terminal of about two exports for every three imports. In the succeeding months, we expect an increase in the import volume of fast-moving cargoes because of improved facilities in the terminal,” Locsin said.

For 2017, the Philippine Statistics Authority reported import growth rate of 10.2 percent and export growth rate of 9.5 percent.

The National Economic and Development Authority continues to push for the implementation of more strategies to promote Philippine products in the global market.

“More initiatives are in the works to attract more firms to avail of our services and make use of our facilities. We will continue to improve and develop our terminals to realize the full potential of Subic Bay.” Locsin said. (Malaya Business Insight)

PHOTO:

Cargo unloading at the Container Terminal in Subic Bay.

http://www.malaya.com.ph/business-news/business/subic-among-productive-freeports-ph

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SBMA posts P1.2-billion port revenue in 2017

The Subic Bay Metropolitan Authority (SBMA) has recorded P1.2 billion in seaport revenue last year, surpassing its 2016 record by three percent, with an increase of 12 percent in the port’s containerized cargo volume.

SBMA Chairman and Administrator Wilma T. Eisma said that figures from the SBMA Seaport Department indicated a total income of P1,173,720,042 in January to December 2017 last year, compared to the P1.137 billion revenue collection in 2016.

“The continuing effort of the Seaport Department to upgrade its process flow minimized transaction time and attracted more and more importers and exporters to use the Port of Subic,” Eisma noted.

She pointed out that the volume of containerized cargo grew to 139,980 twenty-foot equivalent units (TEUs) in 2017 from just 124,707 TEUs in 2016. This increase in containerized cargo had offset a six-percent decrease last year in the volume of non-containerized cargo, which fell to only 6,646,322 metric tons as against 7,071,444 metric tons in 2016.

Accordingly, the SBMA Seaport Department processed 66,172 TEUs of imported containerized products in 2017, which was nine percent higher than the 60,593 TEUs processed in 2016. Meanwhile, the department processed last year 25,007 TEUs of exported containerized products, which was six percent higher than the 23,527 TEUs in 2016.

The increase in import-export volume that passed through the Port of Subic likewise resulted in a significant increase of containerized cargoes transshipped in the Freeport: 1,462 TEUs in January to December 2017 against 368 TEUs in 2016, or an increase of 297 percent.

Jerome Martinez, head of the SBMA Seaport Department, said much of the increase in revenue was due to the growth in imported products like vehicle parts by Foton Motor Phils., Inc.; paper materials by Trust International Paper Corp.; and rubber by Yokohama Tire Phils. Inc., which were all sourced from Japan.

Likewise, the growth in export revenue was attributed to increased export of tires by Yokohama Tires Phils. to Japan; Juken Sangyo Phils. for veneer lumber also to Japan; and HLD Clark Steel Pipe Co. for steel pipes to the United States.

Martinez also said that another factor in seaport revenue growth was the implementation of Republic Act 10668, also known as the Foreign Ships Co-Loading Act, which allowed arriving or departing ships to carry a foreign cargo to its Philippine port of final destination, after being cleared at its port of entry or exit.

“This law tends to decrease, in some instances, vessel activities going to the Port of Subic, particularly in the importation and exportation of goods,” Martinez said. “However, transshipment activities increase,” he added.

The devaluation of peso against the US dollar and the unstable global price of crude oil in the world market which caused a decline of the importation of petroleum products, also buoyed Subic seaport income, said Martinez.

SBMA Chairman Eisma also expressed optimism for the Port of Subic this 2018, pointing out that one of the world’s largest cruise ships will be arriving here in June for a 12-hour tour of the Subic Bay area.

Eisma said this was confirmed after Dr. Zinan Liu and other officials of Royal Caribbean International (RCI) spent a two-day assessment of the Subic Bay area last December for the purpose of including Subic in the itinerary of RCI’s Asian cruise program.

Subic reportedly checked out as a cruise ship destination after Liu noted that it has attractions for people interested in culture, history and religion, aside from the theme parks, beach resorts, hotels and other modern amenities found in the area.

Eisma estimated that should each cruise ship passenger spend US$100 during their stay in Subic, local businesses would gain millions in income during the visit. (RAV/MPD-SBMA)

PHOTO:

Containerized cargo boxes line up the New Container Terminal in the Subic Bay Freeport (AMD/MPD-SBMA)

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Port of Subic posts 11% revenue growth

The Port of Subic posted an impressive 11 percent growth in revenue in the first five months of this year, despite less ship calls recorded in the same period.

According to Subic Bay Metropolitan Authority (SBMA) Administrator and CEO Wilma Eisma, total port revenue logged from January to May 2017 in Subic reached P488.82 million, which was 11 percent higher than the P440.99 million recorded in the same period last year.

A commercial vessel unloads containerized cargo at the New Container Terminal

“Considering that there were less ship calls this year than last year—we had a total of 1,164 in January to May 2017 compared to P1,414 in 2016—then that was still a remarkable achievement for Subic,” Eisma said.

Aside from this, she said that the Subic port also registered a 23 percent increase in export value, with total exports reaching US$1.06 billion in the first five months of 2017, compared to just US$865.26 million in the same period last year.

Similarly, Subic’s import value also rose by 9 percent in the same period, or from US$628.65 million last year to the current US$682.18 million, she added.

Eisma said that much of the growth in port business in Subic involved containerized cargo, which increased in volume from 51,346 TEUs (twenty-foot equivalent units) in January-May 2016 to 55,516 TEUs this year, for an eight percent increase.

However, non-containerized cargo volume suffered a five percent decrease, as only 2.96 million metric tons (MTs) passed through the Port of Subic this year, compared to 3.12 million MTs last year.

Still, the Port of Subic continues to attract more business, as 10 shipping lines now regularly call on Subic, said Ronnie Yambao, head of the SBMA port marketing office.

Ship-to-ship transfer operations in Subic Bay also contribute significantly to port revenue

The shipping lines, Yambao said, include major players like the Taiwan-based Evergreen, which is the fifth biggest shipping company in the world; the Singapore-based American President Lines (APL); Nippon Yusen Kabushiki Kaisha (NYK) of Japan; Mitsui O.S.K. Lines (MOL) also of japan; SITC Container Lines of China; and Wan Hai Lines, also of Taiwan.

The other shipping firms that call on Subic are: Bow Ship Management, Inc.; T. Madsen Shipping Philippines, Inc.; Soriamont Steamship Shipping; and Uni Ship Incorporated.

Yambao said the SBMA under Eisma’s administration seeks to increase container traffic in the Subic Bay Freeport and actively promotes Subic as an ideal shipping port for businesses in Central and North Luzon. (HEE/MPD-SBMA)

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Luzon businesses urged to use Subic port

Pampanga businessmen are urging their colleagues in Central and Northern Luzon to utilize Subic Bay Port to improve cost efficiency and logistics turnaround time.

Levy Laus, chairman emeritus of the Pampanga Chamber of Commerce and Industry Inc., at the group’s 53rd quarterly general members meeting on September 8, said choosing Subic port as point of entry and exit for import and export of goods will not only help reduce costs but will also save another business critical resource – time.

Container ship unloads at the new container terminal of the Port of Subic

“Doing business in Subic is the most logical decision. It should be the primary port for businesses in North Luzon,” Laus said.

According to Laus, since there is no congestion in Subic, business transactions are not delayed.

Laus noted Subic Bay port was among the few ports in the country that can meet the Bureau of Customs’ goal to reduce turnaround time for cargo handling and releasing by less than five hours.

For Subic Bay International Terminal Corp. (SBITC), turnaround time for cargo handling, gate in to gate out for trucks, is less than one hour while processing of documents for cargo releasing takes about four hours.

Roberto Locsin, SBITC general manager, said the one-stop-shop (OSS) in Subic Bay Port reduces processing time and complexity as well as simplifies transacting in Subic for the release of cargos.

“We pulled the necessary offices in one building for faster dispensation,” he said.

Also, the processing time for brokers and truckers’ accreditation only takes a day.

“If the brokers cannot finish the accreditation in one day, the port will still release their cargo; they only need to show proof that they have started with the documentary requirements,” Locsinsaid.

Locsin added that brokers or truckers, once accredited, are not required to have an office in Subic to transact.

The OSS Brokers Lounge, equipped with workstations and free internet connection, may be used to complete their transactions.

Locsin said the Subic Port is well equipped to handle both twenty foot containers and forty foot containers.

To date, SBITC has a rated capacity of 600,000 TEUs.

As of end-2015, containerized cargos that went to Subic jumped 60 percent to 123,000 TEUs from 77,000 TEUs the year before. (Malaya Business Insight)

http://www.malaya.com.ph/business-news/business/luzon-businesses-urged-use-subic-port

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SBMA reports P202-M revenue in trade facilitation

The Subic Bay Metropolitan Authority (SBMA) announced that it posted a total of P202 million in revenue from trade facilitation and compliance fees collected last year from importers, brokers, processors, and other stakeholders in this free port.

SBMA Chairman Roberto Garcia said that based on the annual report submitted by SBMA's Trade and Facilitation and Compliance Department (TFCD), the department’s revenue for 2015 represented an increase of P51 million, or 34 percent, compared to the P151 million recorded in 2014.

Garcia said the increase in earnings is the direct result of the implementation of key objectives and strategies in all SBMA departments to deliver the best services to clients and to sustain the agency’s positive performance in the last three years.

The measures include promotion of good governance, where SBMA has institutionalized the integrity pledge (IP) among employees in support of the agency’s crusade against graft and corruption; transparency in communicating with importers, brokers, processors, and other stakeholders through consultative meetings; and fiscal responsibility by implementing stricter collection procedures and monitoring of the same.

“The satisfaction of our locators and investors with regards to the services they received from SBMA is to some measure reflected on the upward movement in our statistics,” Garcia explained.

“It’s good to know that the figures are all positive,” he added.

TFCD officer-in-charge Anna Joy Quito meanwhile said that better service to customers had, indeed, resulted in better earnings for the department.

She said that export value freight on board (FOB) reached a total of US$2.52 billion in 2015, which is 11 percent higher than the US$2.26 billion in 2014.

Quito explained that under SBMA’s good governance initiatives, the department has succeeded in providing services in a much shorter period of time than the minimum requirement.

She cited as example that while the target time for issuing an admission permit from time of application is 16 hours, the department has lately managed to shorten this to an average of 7.9 hours, or a decrease in processing time of 51 percent.

Another area where the TFCD successfully introduced faster processing time is in Export Declaration clearance, where actual processing time is now 30 minutes, or down by 94 percent from the target time of eight hours.

Quito added that the department will conduct benchmarking with other ports and ecozones in the country to establish and adopt best practices in trade facilitation to increase further the efficiency of the Subic port.

The TFCD facilitates admission of goods into the Subic Bay Freeport through efficient delivery of frontline services, such as processing of permits on imports and exports, and keeping locators or investors in step with all procedural guidelines implemented by the SBMA. (RAV/MPD-SBMA)

PHOTO:
SBMA Chairman and Administrator Roberto V. Garcia (AMD/MPD-SBMA)

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Subic Port sustains 3-year growth momentum

Following the well-attended 2nd Subic Bay Maritime Conference and Exhibition last week, Subic Bay Metropolitan Authority chairman and administrator Roberto Garcia announced yesterday that the Port of Subic has kept up its growth momentum that began in 2012, on to the first quarter of the current year.

“For the past three years, the Port of Subic has continued to register positively in terms of revenues, gross registered tonnage (GRT), number of ship calls, and non-containerized and containerized cargos,” Garcia reported.

In 2011, annual port revenues were recorded at P371 million, which by 2014 had ballooned to P908 million, or a total growth of 126 per cent. Additionally, ship calls increased from 1,803 in 2011 to 2,591 in 2014, indicating a growth of 15 per cent.

Garcia added that the port’s GRT was only 14 million in 2011, but expanded to 40 million last year, growing by 186 per cent during the three-year period.

“Our port also enjoyed similar growth in terms of containerized cargo, which grew from 27,671 twenty-foot equivalent units (TEUs), in 2011 to 77,177 TEUs by 2014, reflecting a 60 per cent growth. Non-containerized cargo volume also experienced a three-year build-up of 136 per cent, from 2.6 million metric tons in 2011 to 6.1 million metric tons in 2014,” he noted.

Garcia said that SBMA is anticipating further growth, given the positive outlook for the country’s economy. This optimism seems to be bearing out, as the Subic Port’s year-on-year performance for the first quarter of 2015 shows the same uptrend it has enjoyed in the past three years.

“Our port revenue has increased by 20 per cent, GRT by 12 per cent, non-containerized cargo by 15 per cent, containerized cargo by 28 per cent, and ship calls by 18 per cent,” he detailed.

According to Garcia, the entry of more domestic and foreign vessels that call regularly on the Subic has vastly improved the port’s connectivity to the world.

“We now have NYK Line, SITC, Maersk Line, APL, and Wan Hai vessels plying to and from major Asian ports like Kaohsiung, Tanjung, Singapore, Busan, Xiamen, Jakarta, Ho Chi Minh, Shanghai, and Surabaya, among others; as well as to and from Japanese ports such as Tokyo, Nagoya, Osaka, Chiba, and Kobe,” Garcia said.

Garcia also noted that the Subic Port successfully managed to accommodate the sudden surge in container shipments at the height of the Manila congestion last year, proving its capacity and readiness to handle volume shipments.

“This year we aspire to hit a target volume of 120,000 TEUs, or 20 per cent of the 600,000-TEU combined annual capacity of the port’s New Container Terminals 1 and 2, in line with our vision to make this Freeport the premier logistics hub north of Metro Manila,” Garcia revealed. (KMF/CorComm-SBMA)

Photo: The New Container Terminal 1 (NCT1) at the Port of Subic at night

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SBMA 2014 record income up 40%

For the third consecutive year, the Subic Bay Metropolitan Authority (SBMA) hit new record highs in its 2014 financial performance, as it scored a net income of P1.556 billion vs the 2013 income ofP1.11 billion, a substantial increase of 40%.

“Revenues from port operations, tourism and industrial commercial leases rose to P2.442 billion or 21% vs 2013 figures, while EBITDA or operating profit hit P1.391 billion or 51% over the previous year,” SBMA Chairman and Administrator Roberto V. Garcia announced recently.

With the port congestion in Manila, many importers shifted to Subic, causing port revenues to hit P909 million or an increase of 45%. Significantly, containerized volumes jumped to 77,000 TEUs or an increase of 105%. Locator export volumes likewise increased to U$2.3 billion or a 59% increase from the previous year.

Tourism likewise registered substantial revenue gains with a substantial 61% jump driven by a 12% hike in tourist traffic. MICE events (Meetings, Incentives, Conventions and Exhibitions) chalked up an increase of 150% while sports events rose 75% to make Subic Bay the number one tourist destination in Central Luzon according to DOT records.

Industrial and commercial leases likewise hit P1.050 billion, up 13% from previous years, as more businesses flocked to the Freeport. These and other expansion projects of existing locators caused jobs to increase from 89,584 in 2013 to 96,958 in 2014, providing 7,374 new jobs or an increase of 8%.

Reflecting the Agency’s robust growth on all fronts are the cash collections of the Bureau of Internal Revenue’s P1.8 billion and the Bureau of Customs’ P15.290 billion, which improved by 27% and 36% respectively in 2014.

Lastly, the 5% tax collected from locators in the Freeport rose to P497 million, or a 35% increase over 2013. SBMA remitted this amount with P199 million going to the eight local government units surrounding the Freeport, while P298 million was remitted to the National Government Treasury. The total contribution of SBMA to the national economy therefore amounted to P17.638 billion.

According to Garcia, the agency’s sterling three-year record performance could be attributed to good governance, the implementation of its strategic initiatives, and the hard work of the agency’s management and employees. (KMF/CorCom-SBMA)

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Hanjin top exporter in Subic Freeport

Hanjin Heavy Industries and Construction-Philippines (HHIC-Phil) once again emerged as the biggest exporting company in this free port after building 11 ships in just the first half of this year at its state-of-the-art facility in this free port.

HHIC-Phil posted a total of $88.48 million in exports in the first half of the year, the Subic Bay Metropolitan Authority (SBMA) said in its January to June 2014 report.

The SBMA also noted that the Subic shipbuilder’s output has increased from five vessels in the first half of 2013 to a total of 11 in the first semester of 2014.

The firm’s employment generation record also improved from 18,535 in the first half of 2013 to 20,562 in the same period this year, the SBMA stated.

HHIC-Phil President Jin Kyu Ahn said the South Korean shipbuilder delivered its latest projects recently, the 3,800-twenty-foot equivalent units container carriers MV Perceiver and MV Conceiver that were ordered by Belgium-based Delphis, which provides multimodal container transport throughout the world.

Each of the newly built vessels weighs 41,286 tons, measures 222 meters long, 37.3 m wide and 19.3 m deep, and attains a speed of 20.9 knots.

Both are equipped with the latest in marine vessel technology, Ahn said in a news statement.

The two ships were formally unveiled late last week at HHIC-Phil’s Redondo Peninsula shipyard here by top executives of Delphis in the presence of representatives from DNV-GL, a leading ship and offshore classification society.

Ahn said the launching of the new container carriers marks another milestone for HHIC-Phil, and affirms the company’s “unwavering commitment to innovation geared toward excellence in the craftsmanship of our products to better serve the challenging demands of our valued clients around the world for highly sophisticated yet cost-efficient and environment-friendly commercial vessels.”

He added that the HHIC-Phil has already built and exported a total 66 vessels as of July this year, ever since it started operations here in February 2006. Its products ranged from container ships and bulk carriers to crude oil tankers and other high-value oceangoing ships and offshore facilities.

The feat led the Philippines to be ranked by Clarkson Research Services Ltd., a reputable research firm based in Europe, as the fifth among the biggest shipbuilding nations—next only to China, South Korea, Japan and Brazil.

On the other hand, HHIC-Phil placed 11th in the list of almost 100 shipbuilders in the world, according to the Clarkson listing in June.

Ahn added that the firm’s order block is fully booked until 2018, thereby proving “HHIC-Phil’s global competitiveness and the stability of its Subic shipyard amid the intense competition in the international shipbuilding arena.”

The firm’s increased production has consistently put it on top of the list of the biggest exporters here.

HHIC-Phil’s January to June 2014 export record of P88.48 million has placed it way ahead of traditional top exporters here, like Sanyo Denki Phils. Inc., which notched a first-semester export of $11.45 million; Wistron Infocomm, $8.11 million; Tong Lung Phils. Metal Industry Co., $6.75 million; Hitachi Terminals Mechatronics, $6.74 million; HLD Clark Steel Pipe Co. Ltd., $5.04 million; Air 2100 Inc., $4.33 million; Nicera Philippines, Inc., $4.29 million; and Juken Sangyo Phils., $3.96 million. (Henry Empeño, BusinessMirror)

PHOTO:
Guests walk past the newly christened MV Perceiver, one of the two container carriers recently launched by HHIC-Phil at its Redondo Peninsula shipyard in the Subic Bay Freeport. (photo by Jonas Reyes)

http://www.businessmirror.com.ph/index.php/en/news/economy/36842-hanjin-top-exporter-in-subic-freeport

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Chinese firm pledges P9-billion investment at Subic Freeport

A Chinese steel manufacturer has pledged P9 billion for an export-oriented business project here in the Subic Bay Freeport.

The Panhua Group Co. Ltd. will engage in the pre-painting of steel coils and metal sheets for export and domestic trade and other allied industries.

Subic Bay Metropolitan Authority (SBMA) Chairman Roberto V. Garcia said the SBMA board of directors approved Panhua’s proposal on its 258th board meeting in February 2014.

The Chinese firm is also engaged in shipping, real estate, mining, steel manufacturing and logistics business in China.

Garcia said the entry of Panhua in Subic attests to the growing attractiveness of the country to foreign investments.

“The Philippines is currently enjoying a BBB rating from Standard and Poor’s, which means that the country has adequate capacity to meet financial commitments,” Garcia noted.

He added that more foreign direct investments (FDIs) are pouring into the Philippines because it has earned the trust of investors after it received investment upgrades from different rating firms.

The Panhua Group is a large-scale conglomerate, manufacturer, exporter, and wholesale supplier of cold-rolled steel coil, cold-rolled steel sheet, galvanized steel coil, galvanized steel sheet, pre-painted galvanized steel coil, and pre-painted galvanized steel coil sheet.

With an annual steel production capacity of 1.5 metric tons, Panhua Group Co. Ltd. is listed among the 500 top private enterprises in China.

The firm’s main manufacturing bases, which have a registered capital of $100 million, are located in Zhangjiagang City and Fuling District, as well as Chongqing City in mainland China.

Company officials said its proposed Subic Bay Freeport operations are expected to augment its production, as it has pegged its export target at 42,000 metric tons per month to begin in the first quarter of 2016.

Panhua’s newly-approved project in Subic will be located at Subic Bay Gateway Park Phase 2 and will initially be manned by 100 employees. (RFD/MPD-SBMA)

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Shippers, carriers look at Subic port more closely. Lines enter into co-­loading arrangement; port volume up in 01

THERE is growing interest in the use of Subic container port following the imposition of the Manila truck ban in late February that led to massive delays in cargo deliveries.

A number of Philippine Exporters Confederation members from Region III (Central Luzon) visited the port on March 27 to take a closer look at the facility, according to PortCalls sources.

International shipping lines also seem to be paying the port more attention. Recently Japanese shipping line NYK entered into a co-­loading arrangement with APL, while Bengal Tiger Line will soon be co­-loading with Wan Hai.

Sources said the number of slots under the co-­loading arrangements is not yet fixed with NYK and Bengal Tiger still testing the waters.

APL, the container line of Singapore-­based NOL, and Wan Hai, a Taiwanese regional carrier, are the two carriers regularly calling Subic port.

A source from Bengal Tiger told PortCalls it is working on a co­-loading agreement with Wan Hai on the Subic­Kaohsiung sector.

Higher box throughput

Against this backdrop, Subic's New Container Terminal 1 (NCT1), operated by Subic Bay International Terminal Corp (SBITC), is showing strong growth in throughput.

From January to the third week of March 2014, NCT1 recorded a 17.63% uptick in volume to 8,448 twenty equivalent units (TEUs) from 7,181.75 TEUs year ­on ­year, according to data provided by SBITC.

For the full year 2013, NCT1 handled a total of 34,847 twenty equivalent units (TEUs) with an average monthly volume of 2,903.92 TEUs.

Based on an earlier Subic Bay Metropolitan Authority (SBMA) report, containerized cargo (both for NCT 1 and the other Subic terminal, NCT 2) rose 3.2% to 37,460 TEUs in 2013 from 36,304 TEUs in 2012. Non- ­ containerized cargo grew 8.6% from 2.21 million metric tons from 2.4 mmt in 2012.

NCT1 and NCT 2 each have an annual capacity of 300,000 TEUs. Savings for Clark shippers.

Meantime, SBITC said Subic port offers big savings for users. Locators and shippers from nearby
Clark freeport in Pampanga, for instance, can save as much as 53 % in arrastre charges if they use the facility.

In a presentation, SBITC said for import cargoes, the locators can save up to 52.93% or Pl,967.40perTEU and 53.05% or P4,536.64 per forty­foot equivalent unit (FEU) in arrastre charges versus the cost of similar services in Manila ports.

SBITC's arrastre charges for import cargoes are PI,749.60 per TEU and P4,014.36 per FEU compared with the P3,717 per TEU and P8,551 per FEU rates in Manila.

For wharfage of import cargo boxes, a TEU saves 3.57% or P20.77 while an FEU also saves 3.57% or P31.17. Wharfage of each 40­footer export container in Manila is P437.98 and in Subic, P422.33.

For exports, SBITC's PI,428.84 per TEU and P3,280.50 per FEU saves 53.05% or PI,614.16 per TEU and 53.06% or P3,708.50 per FEU on arrastre, compared with Manila's P3,043 per TEU and P6,989 per FEU.

SBITC also offers 10 days of extra free storage, five each for imports and exports, compared with Manila's five days of free storage.

The port operator also said Manila adds 12% value­-added tax on all its charges while SBITC does not. (Roumina M. Pablo, PortCalls)

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Chinese steel pipe factory to ramp up exports through Subic port

Chinese metal pipe manufacturing firm HLD Clark Steel Pipe Co. Inc. is expected to increase its export operations through this free port after gaining concession to ship via Subic’s New Container Terminal-1 (NCT-1).

SBMA Chairman Roberto Garcia said the Subic Bay International Terminal Corp. (SBITC), operator of the NCT-1, had given the Chinese firm a bigger space for stockpiling its cargo in response to the requirements of the Chinese exporter.

HLD, which is a subsidiary of Huludao City Steel Pipe Industrial Co. Ltd. in China, specializes in the production of high-frequency straight-line welding pipes that are being used as casing pipe for petroleum products.

The company has been based since 2009 at the neighboring Clark Freeport, where it had since expanded its production program for steel pipes from ½ to 14 inches in diameter, including the carbon steel variety.

HLD has actually started shipping its pipe exports here in January after it signed an agreement with the SBMA and SBITC for the use of NCT-1, said SBMA seaport manager Jerome Martinez.

The firm, which ships its products to the United States and Canada, initially tried break-bulk shipment at the NSD area, but realized that the place had no more space left for an eight-hectare stockpile.

Martinez also said that with HLD’s shipment operations via NCT-1, the Subic agency expects to boost its income from the SBMA seaport.

He said that from February to May this year, the SBMA already earned around P3 million from HLD operations, the bulk of which came from SBMA shares from the SBITC.

He added that in the past four months, the Chinese pipemaker had shipped its cargoes using four vessels of from 20,000 to 30,000 gross tons, thereby increasing collections as well in wharfage fees and other seaport payments. (HEE/MPD-SBMA)

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Subic-made exports hit $713.15M in Jan-June 2010

Export value posted by registered enterprises in this free port reached $713.15 million from January to June this year, marking an all-time high record in mid-year export value in the last 16 years.

Subic’s first semester export production also indicated an increase of $180.26 million, or 33.83 percent, compared to the $532.89 million generated in the same period last year.

According to Subic Bay Metropolitan Authority (SBMA) administrator Armand Arreza, the freight-on-board (FOB) value posted by Subic’s top 10 exporters from January to June comprised some 86 percent, or a total of $613.44 million, of the exports.

Korean shipbuilder Hanjin Heavy Industries Co.-Philippines (HHIC-Phil) remained Subic’s top exporter since last year by posting an FOB value totaling $372.74 million.

Arreza said that the SBMA expects Subic’s export FOB value to grow in the coming months, as free port enterprises roll out more products due to brightening prospects in global trade.

“Hanjin, for one, is expected to rally its production in the coming months. After delivering container ships like the APL Bahrain , Leyla K, and Eser K in the first semester, Hanjin is set to fabricate some 36 vessels more, with delivery schedules within the next two years,” Arreza pointed out. “So we’re expecting Hanjin to remain as the Subic free port's top exporter for the next few years, and also fuel the growth of Subic’s maritime industry.”

Arreza also said that after HHIC-Phil, the next biggest exporters were Taiwanese computer maker Wistron Infocomm (Phils.), which posted $66.71 million; Japanese micro-motor manufacturer Sanyo Denki, with $50.98 million; Japanese ATM-maker Hitachi Terminals, $31.34 million; and Japanese wood products manufacturer Juken Sangyo with $24.86 million.

Also in the top 10 list were Taiwanese lock maker Tong Lung (Phils) Metal Industry with $23.7 million; Japanese electronics sensor maker Nicera, with $14.42 million; newcomer Taiwanese firm Tapu Corporation, which manufactures metal products, with $10.9 million; Taiwanese aircon maker Hitachi, $9.51 million; and another Taiwanese newcomer Cano Subic Corporation, also a metals producer, with $8.28 million.

SBMA figures also indicated that the biggest export values were recorded in the first quarter of the year, with $230 million in February, $181 million in January, and $119 million in March. Meanwhile, the second quarter yielded $67 million in June, $60 million in April, and $55 million in May.

On the other hand, import value from January to June this year stood at $1.64 billion, up by $539.53 million or 48.88 percent from last year’s $1.1 billion.

Arreza said that some 81.35 percent of the import FOB value during the period was contributed by the top 10 importers, which brought in goods worth $1.34 billion.

Besting all other importers in the Subic Freeport was Japanese electric appliance parts manufacturer Sanyo Denki with $303.16 million; followed by Filipino firm PTT Philippines Trading Corp. with $270 million; HHIC-Phil., Inc. with $193.97 million; Japanese manufacturer Koryo Subic, Inc. with $110.83 million; and Wistron Infocomm with $109 million.

Other firms that completed the top 10 importers list were Nicera Phils, Inc. with $104.83 million; Nidec Subic Phils. Corp. with $90.93 million; Micro Dragon Petroleum, Inc. with $58.86 million; Koushin Manufacting Phils., Inc. with $56.54 million; and Subic Int’l Air Charter Inc. with $38.68 million. (SBMA Corporate Communications)

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Subic locators now able to process shipment declarations online

Locators in Subic Special Economic and Freeport Zone (SSEFZ) can now process their export declarations online, thus sparing them from the time-consuming process of doing this physically at the local district of the Customs bureau.

This, as the Bureau of Customs (BoC) and the Subic Bay Metropolitan Authority signed a joint memorandum order to implement that same day the automated processing of export documents for SSEFZ-based companies.

"The implementation of the automated export documentation system will reduce the cost of doing business, as well as [save] time for the locators," Customs Commissioner Napoleon L. Morales told reporters at the signing event.

He noted that locators have had to go through the time-consuming manual system for processing their export documents, which could lead to delays in releasing the shipments.

Mr. Morales said this latest move is part of current efforts to harmonize export procedures among economic zones and ports.

Under the new system, a bar code will be placed on the export declaration submitted online once the processing is completed and the application approved.

Once the bar code is placed on the export declaration, it can then be printed to accompany the shipment from SSEFZ to either the Diosdado Macapagal International Airport (DMIA) in Clark Freeport or the Ninoy Aquino International Airport (NAIA) in Manila.

The shutdown last year of the Federal Express hub in Subic had forced exporters there to course their shipments through either DMIA or NAIA, thus adding to their costs.

The bar code of the export declaration will then be scanned at the SSEFZ gate and the receiving counters of airline companies at DMIA or NAIA, enabling both the sender in Subic and the intended receiver to track the departure, status and arrival of the shipments.

Alexander M. Arevalo, Customs deputy commissioner for management information systems, told reporters on the sidelines of the signing ceremony yesterday that the bureau plans to replicate the system in at least two other major ports by June.

"We are looking at Davao and Cagayan de Oro [next]," he said. (L. D. Desiderio, BusinessWorld)

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Subic 1st Qtr. exports hit $359.45 million

Exports by registered enterprises in the Subic Bay Freeport Zone reached $359.45 million in the first three months of the year, posting a 54.79 percent increase over the $232.21 million export record in the same period last year.

According to Armand Arreza, administrator and CEO of the Subic Bay Metropolitan Authority (SBMA), export production by Subic firms were recorded at $127.83 million in January, $58 million in February, and $173.59 million in March.

The surging exports in the first quarter this year led to a positive variance of $127.23 million over Subic’s export performance in the first quarter of 2008, he added.

Figures from the SBMA indicated that the bulk of first quarter exports, or a total of $328.29 million, were contributed by the top ten exporters in Subic Bay.

These leading exporters are: Korean shipbuilder Hanjin Heavy Industries Co.-Philippines, which posted a freight on board (FOB) value of $179.36 million; Hong Kong cell phone trader Lets Do Mobile Philippines, with $57.43 million; Taiwanese computer maker Wistron Infocomm (Phils) Corp., $36.13 million; Japanese ATM-maker Hitachi Terminals, $16.46 million; and Japanese micro-motor manufacturer Sanyo Denki, $16.23 million.

Also in the top 10 exporters list are: Japanese wood products manufacturer Juken Sangyo, with exports of $8.73 million; Danish eyewear manufacturer Lindberg Subic Inc., $6.38 million; Taiwanese lock maker Tong Lung (Phils) Metal Industry, $4.34 million; Taiwanese aircon maker Hitachi, $3.38 million; and Japanese electronics sensor maker Nicera, with $2.79 million.

Arreza said the increase in export production is a good sign that the Subic Bay Freeport remains economically healthy despite the ongoing global economic downturn.

“Recent indicators only show that Subic stays on top of the situation and the companies here remain resilient and productive,” Arreza said.

“This makes us all the more confident that hard work on the part of the SBMA and the business locators here would enable us to pull through these hard times,” he added.

Earlier, Arreza announced that the Subic Bay Freeport has increased its revenue remittance by 9.3 percent in the first quarter of 2009, compared to its 2008 record.

He said the combined collections generated by the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) in Subic reached P1.29 billion in January to March this year, an increase of more than P100 thousand over the P1.18-billion total in 2008.

”Basically, Subic made some gains but experienced some losses as far as first quarter revenue collection is concerned,” Arreza said.

“Overall, however, Subic revenue generation posted a positive total and that is consistent with the SBMA's efforts to increase income in the Port of Subic,” he added.

Records indicated that BIR collections in Subic in the first quarter totaled P252.08 million, while the BoC reported collections amounting to P1.04 billion.

The BoC also reported that it was able to surpass its first quarter 2009 target by 55.9 percent since the agency’s first quarter target in Subic was pegged at only P669.5 million.

SBMA records indicated that the biggest annual revenue in combined collections by the BIR and the BoC was posted in 2007 at P5.32 billion, followed by last year’s combined collection amounting to P5.27 billion. (SBMA Corporate Communications)

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Subic exports hit $977.84-M in 2008

Despite the onset of global recession, manufacturing companies in this free port unexpectedly turned out exports worth $977.84 million last year, the biggest export total for Subic in the last six years.

Subic’s 2008 export volume represented a .63 percent increase over the $971.73 million export value recorded in 2007.

The slim gain in export production was attributed by the Subic Bay Metropolitan Authority (SBMA) to the free port’s electronics and maritime industries, which had held on to previous orders to deliver positive export figures last year.

“Our 10 biggest manufacturers provided the bulk of Subic’s exports in 2008 — a total of $849 million, which is roughly 87 percent,” said SBMA Administrator Armand Arreza.

“I believe this is an achievement in itself,” Arreza added. “The fact that we did not turn out a negative figure last year despite the recession speaks so much of the resiliency of our business locators here.”

Arreza said two Subic exporters, the Taiwanese computer giant Wistron Infocom (Phils) Corp. and Hong Kong’s import-export firm Lets Do Mobile Philippines, contributed more than half of Subic’s $977.84 export total last year, with export production of $274.88 million and $234.5 million, respectively.

Two Japanese manufacturers, meanwhile, occupied the third and fourth slots among Subic’s top exporters: electrical machinery and appliance maker Sanyo Denki with $78.08 million, and ATM and cash register manufacturer Hitachi Terminals Mechatronics Phils. with $76.37million.

Korean shipbuilder Hanjin Heavy Industries Co.-Philippines (HHIC-Phil), meanwhile, posted $61.74 million worth of exports to make it as Subic’s fifth biggest exporter last year.

The rest in the top 10 exporters list are: Japanese wood products manufacturer Juken Sangyo (Phils.) Corp., with $44.17 million worth of exports; Taiwanese lock maker Tong Lung Metal Industry, with $27.94 million; Taiwanese aircon manufacturer Hitachi, with $20.31 million; Japanese precision electronics motors producer Nidec Subic Phils. Corp., with $17.78 million; and Japanese electronics sensor maker Nicera Phils. Inc., with $13.26 million.

Last year’s export production was the biggest so far in the last six years, following a continuous slide since 2003 that culminated in a $691.14 million export value in 2006.

Subic exports began picking up in 2007 with a total of $971.73 million, followed by $977.84 million last year.

Importations by Subic Freeport companies, meanwhile, reached a total of $2.27 billion in 2008, with the bulk consigned also to some of the biggest exporters in Subic.

However, SBMA records as of October 2008 indicated that the biggest importer last year was PTT Philippines, which traded in petroleum products, with a total freight on board value of $465.25 million.

Next were HHIC-Phil, with $389.32 million; Lets Do Mobile, with $214.89 million; Wistron Infocom, with $187.84 million; and Korean firm Hanil Engineering and Construction Co., Ltd., with $174.32 million.

Another oil and petroleum products trader, Tri-Solid Movers Services, Inc., was the sixth biggest importer last year, with $65.08 million worth of imports.

This was followed by Sanyo Denki, with $38.42 million; Juken Sangyo, with $29.97 million; Hitachi Terminals, with $28.26 million; and Nidec Subic, with $26.86 million. (SBMA Corporate Communications)

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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)

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