Subic offers its ports as alternative to Manila
MANILA, Philippines – Subic Bay Metropolitan Authority (SBMA) chairman Roberto Garcia is offering a solution to the problematic truck ban in Manila: decongest Manila ports by rerouting cargo to the freeport zone.
Manila imposed last month a city-wide truck ban that is making it hard for about 800 companies to ship out their products. The Bureau of Customs also reported a drop in revenue of the Manila International Container Port (MICP) from a daily average of almost P360 million to only P262.8 million on the first day of the ban's implementation. (READ: Manila truck ban may affect PH exports and Customs revenue down on first day of truck ban)
In his State of the Freeport Address last week, Garcia declared he wants to transform Subic into a major logistics hub in Asia.
There are 2 new container terminals in Subic, NCT-1 and NCT-2, which are both operated by Subic Bay International Terminal Corp, a unit of port operator International Container Terminal Services Inc. (ICTSI). Combined, these ports can handle an annual 800,000 TEUs (container capacity measured in 20-foot equivalent units or TEUs).
Only 5% is currently utilized.
In 2013, SBMA earned P626.54 million ($14 million) in port revenues. This increased 56% from P402.44 million ($9 million) in 2012.
Containerized cargo rose 3.2% to 37,460 TEUs in 2013 from 36,304 TEUs in 2012. Non-containerized cargo increased 8.6% from 2.21 million metric tons from 2.4 mmt in 2012.
Garcia is optimistic about the prospects of SBMA, which has brought in up to $9.4 billion since its creation in 1992. It posted 800% increase in investments last year and it is targeting P23 billion ($515 million) in new investments this year.
Total jobs in SBMA also rose nearly 70% to 4,402 or net jobs of 1,805 from 2,595 in 2012.
SBMA's biggest investment last year was the P21.37-billion ($478 million) resort complex built by Resom Resort in a 6,000-square meter area. The other big project was the P1.9 billion ($42.6 million) investment of PTT Philippines Corporation, which has made Subic its distribution hub for refined petroleum products and lubricants to the local market for Luzon. - Rappler.com