Resurgence of PHL car imports boosts ATI results in Q1

May 13, 2022

Listed trade enabler Asian Terminals Inc. (ATI) reported strong results for the first quarter of 2022 driven mainly by the resurgence of international roll-on/roll-off (RoRo) cargoes handled by its Batangas Port as well as the upward tariff adjustment approved earlier by the port authority.

In a regulatorydisclosure, ATI said its revenues for the first quarter reached Php2.90billion, 6.5% higher from last year’s Php2.72 billion. Revenues from ATIBatangas increased by 37.8% on account of higher RoRo volumes while revenuesfrom Manila South Harbor’s international containerized cargo operations increasedby 7.8%.

ATI’s net income forthe first three months stood at Php601.9 million, 6.9% higher than the Php562.9million it posted in the same period last year.

Batangas Port, whichserves as the biggest car carrier port in the Philippines, handled over 54,000completely built car units (CBUs) from January to March, reflective of theindustry’s strong rebound since the onset of the Covid-19 pandemic. Thisrepresents a 66% volume growth compared to the same period last year.

In 2021, Batangas Porthandled over 136,000 CBUs, representing majority of vehicle imports nationwide.Batangas Port is the country’s premier gateway for CBUs, with leading andemerging car manufacturers and distributorships leveraging on the port’scapacity, industry-leading port inventory system, and direct connectivity to Visayasand Mindanao and other key markets. It has also attracted the interest of cartranshippers in the region.

With its multilevelcar storage facility, open storage spaces and back-up areas, Batangas Port canhandle around 13,000 CBUs in any given time.

Meanwhile, in thecontainerized cargo segment, ATI’s Manila and Batangas container portscollectively handled over 310,000 teus (twenty-foot equivalent units) ofinternational boxes during the quarter as the terminals kept trade flowing insupport of the Philippine supply-chain.

ATI’s multilevel car storage facility with space for over 5,000 car units complements Batangas Port’s capacity to handle over 13,000 car units in any given time.