The Philippine Ports Authority (PPA) said passenger and passenger traffic this year was stronger than expected, with rocks expected to pass the demand peaks in the fourth quarter.
“PPA remains optimistic that it will meet its annual targets. If the current trajectories hold, PPA is confident that it will exceed its annual targets,” PPA said. Businessworld Via Viber.
The Port Regulator is looking at the filling of cargo of 301.47 million metric (mt), while the volume of each container is estimated at eight maximum units with twenty one feet (Teus) per year.
“The cargo outlook remains favorable, supported by strong demand for construction materials (between) and ongoing infrastructure activities. Growth in mining activities and export of commercial minerals is expected to underpin many related volumes throughout the year,” PPA said.
In the third quarter, PPA hedged 83.34 million metric tons.
Traffic for the three months to September increased by 11.11% to 2.2 million tous, while passenger volume hit 17.41 million, down 7.25% from a year earlier.
Road traffic growth will be driven by improvements and modernization, said the private PPA and the continued expansion of domestic shipping facilities for the volume growth used by major ports in all major ports.
This year, PPA expects passenger traffic to hit 85.41 million, up 8.37%.
“With Christmas approaching, passenger volumes are expected to peak as travelers head to their home states.
Despite the decline in three-quarter numbers, PPA remains optimistic of hitting its 2025 target, and domestic tourism is expected to pick up later this year, it said.
“Strong domestic tourism demand, combined with the continued performance of the Cruise sector, provides a solid basis for continued growth towards the end of 2025,” he said.
In the nine months to September, the PPA reported 231.57 metric tons of Bulk Cargo Volume, up 6.18%, while the Container Traffic Rose 11.54% Teus.
The first PPA data showed that the volume of passengers in the first nine months Rose 4.27% to 63.06 million.
RCAL COMMERCIAL BANKING CORP. (RCBC) Chief Economist Michael L. Ricafufort said that traffic in the port usually picks up in the fourth quarter due to the increase in business at the end of the year.
“Passenger volumes are also high, as some Filipinos go to the provinces for the holidays,” he said.
Toby Allan C. ArcE, head of retail trading at Goalnks Securities and Stocks, Inc.
“If trends hold, 2025 could be a strong year for Philippine listed port operators. Further growth in the coming years will depend on their cost effectiveness,” said Mr. Arcce.
In the first nine months, global container services, Inc. (ICTSI) Adjusted revenue increased by 18.81% to $751.56 million.
Asia Center, Inc. (ATI) net income of P4.26 billion, up 34.38% from a year earlier.
“The environment is generally emerging: Global trade is holding up, while domestic domestic trade appears to be recovering from volume bumps or currency translation – preventing volume leads or weak translation,” said Mr. Arcele. – Ashley Erika O. Jose
