Seaport operator Asian Terminals Inc. (ATI) is set to invest P2.7 billion in capital expenditures this year to enhance its facilities and acquire new equipment. This amount is greater than ATI’s investment in 2023, which totaled P2.2 billion and included projects such as the Batangas Passenger Terminal Phase 2 and Cavite Barge Terminal.
ATI aims to improve its cargo handling and passenger operations in anticipation of market growth following the easing of pandemic restrictions. The company plans to expand seaside and landside facilities, acquire modern and sustainable equipment, enhance its IT systems, and implement integrated logistics solutions.
The firm, known for its port-centric and customer-focused approach, is also exploring the development of smart cargo storage spaces at port zones and potentially establishing new port operations domestically or internationally.
In its recent financial statement, ATI reported a 47% increase in net income attributed to equity holders of the parent company, reaching P4.4 billion. This growth was supported by a 13.4% rise in revenues to P15.4 billion, driven by increased container volume at South Harbor and Batangas port operations.
Despite higher operational activity, ATI experienced a 7% increase in total expenses to P6.6 billion. Costs related to equipment handling rose by 3% due to spare parts acquisition and higher electricity usage, while facility-related expenses increased by 14% for repairs and maintenance.
Overall, sea terminals nationwide have witnessed improved cargo and passenger movements. The Philippine Ports Authority reported a 24% surge in passenger traffic at sea terminals last year, although it remains below the pre-pandemic levels of 2019.
Cargo throughput also saw a 5% growth to 272 million metric tons in 2023, surpassing the pre-pandemic volume. These developments indicate a positive trajectory for the maritime industry in the Philippines.
