Ports cargo volume down 25% in Q4
MANILA, Philippines - Cargo volume handled by the country’s ports declined by more than 25 percent in the fourth quarter of 2015, from a year ago level, the Philippine Ports Authority (PPA) reported yesterday.
Data from the PPA showed the ports’ cargo volume dropped to 36.827 million metric tons (MT) from October to December last year compared to 49.316 million MT in the same quarter in 2014.
The drop in cargo volume was due to the slowdown in both domestic and foreign cargo shipments.
Domestic cargoes were down 26 percent to 13.709 million MT in the fourth quarter of 2015 from 18.684 million MT in the same period a year ago.
The volume of foreign cargo, likewise, fell 25 percent to 23.118 million MT in the fourth quarter last year from 30.632 million MT.
Of the total foreign cargo volume, imports had the lion’s share at 13.243 million MT last year, a 28 percent decrease from 18.388 million MT in the same period in 2014.
Exports meanwhile, slid 19 percent to 9.876 million MT in the fourth quarter of 2015 from 12.245 million MT in the same three-month period in 2014.
By region, Manila and Northern Luzon accounted for the bulk of the total cargo volume in the fourth quarter of 2015, handling 19.345 million MT followed by Mindanao with 10.500 million MT.
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