Abstract
International Container Terminal Services, Inc. (ICTSI), which operates the
Philippines' largest
container terminal, the Manila International
Container Terminal (MICT), has recently disclosed its Q109
results.
According to the document, the total volume of containers handled by MICT for
the first quarter,
which ended March 31, amounted to 305,166 TEUs,
representing 15% fall on the same period of 2008,
when it handled 360,636
TEUs.
In 2009, we expect total throughput of the MICT to decrease to
15.1mn tonnes, or 12.57% less than in
2008, when the port handled 17.3mn
tonnes of cargo. We anticipate the recovery of throughput volumes
to start
in 2010. In the mid-term (2011-2013) we expect the handling to increase by
6.38% on average a
year, with the 2008 figure to be exceeded in 2012.
According to our forecasts, in 2013 port' s throughput
will amount to
18.5mn tonnes.
Container handling, according to our estimates, will fall
by 14.67% to 1.278mn TEUs in 2009. The slow
recovery will start in 2010,
and only in 2013 the port will surpass its 2008 handling figure of 1.498mn
TEUs. In the mid-term, between 2011 and 2013, the port will demonstrate growth
of 6.61% per year on
average. In 2013, we expect the port to handle more
than 1.578mn TEUs.
Total cargo handling at the Port of Cebu, the second
largest in the Philippines by container throughput, is
expected to
decrease to 11.1mn tonnes in 2009, representing 3.27% fall on 2008. We
anticipate the
recovery of throughput volumes to start in 2010. In the
mid-term (2011-2013) we expect handling to
increase by 6.67% on average,
with the 2008 figure to be exceeded in 2011. According to our forecasts,
in
2013 the port' s throughput will amount to 13.7mn tonnes.
The
handling of containers, according to our estimates, will fall by 1.22% to
474,026 TEUs in 2009. The
recovery will start in 2010, and in 2011 the
port will surpass its 2008 handling figure. In the mid-term,
between 2011
and 2013, the growth will continue by 2.58% per year on average. In 2013, we
expect the
port to handle 515,268 TEUs.
As well as an in-depth
analysis of the Philippines' shipping sector, BMI' s Q309 Philippines
Shipping
Report offers a global overview of the dry bulk, liquid bulk and
container sectors and overviews of the 11
largest shipping lines and their
strategies over the quarter to weather the downturn in trade volumes.
| 
View Cart
