ATI earmarks P5 billion for expansion

MANILA, Philippines — Port operator Asian Terminals Inc. (ATI) is set to spend over P5 billion this year for the continued upgrade of its major port gateways.

ATI said this year’s budget would support ongoing ports and logistics infrastructure projects across key sites in Manila, Batangas and Laguna.

It would also be used for the acquisition of more modern and eco-friendly equipment in line with the company’s growth strategy.

“As a trade enabler, we are very bullish of our infrastructure projects which would enable us to deliver faster, safer, and market-responsive services to our customers and further contribute to the country’s post-pandemic economic recovery,” ATI executive director William Khoury said.

ATI is expanding the yard and berth facilities in Manila South Harbor to handle growing container volumes and bigger ships deployed by freight carriers.

The continuing expansion will result in quicker and safer terminal turn-around-time for port users and move ATI closer to increasing the international trade gateway’s annual throughput capacity from 1.4 million twenty-foot equivalent units (TEUs) to nearly two million TEUs by 2024.

The publicly listed port operator is also upgrading the Batangas Passenger Terminal (BPT) as it transforms the key maritime asset into the biggest interisland transport hub in the country.

Phase 1 of the BPT expansion is targeted to be operational by the second quarter, in time for the summer peak season, ATI said.

Upon full completion next year, the new BPT is seen resembling the fast-craft terminals in Hong Kong and Macau, featuring fully airconditioned boarding lounges, food and entertainment kiosks, and other modern amenities, including facilities for differently abled passengers.

ATI saw its net income drop by  24.3 percent to P2.24 billion in 2021 from P2.95 billion a year ago due to volume-driven expenses, rising fuel prices, sustained COVID-19 resiliency measures, and unfavorable foreign exchange rate impact.

Revenues, meanwhile, improved by 1.8 percent to P11.16 billion from P10.96 billion in 2020 on account of higher container volumes.

ATI handled a consolidated volume of 1.3 million TEUs in 2021, 3.7 percent higher than in 2020, with containers in Manila South Harbor and Batangas Container Terminal increasing by 3.9 percent and 3.8 percent, respectively.