CY 2016 Yearend Report.pdf - PHILIPPINE PORTS AUTHORITY CY...

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Philippine Ports Authority CY 2016 Yearend Accomplishment Report Page 1 of 26 PHILIPPINE PORTS AUTHORITY CY 2016 YEAREND ACCOMPLISHMENT REPORT EXECUTIVE SUMMARY The Authority performed well during the year 2016, outpacing its performance during the same period last year. The expectation to perform well and surpass targets resulted in positive variances of performance metrics such as financial performance, port operation statistics, and port performance indicators, among others. In particular, revenue generated by the Authority continued its upward inclination as figures for the period ending 31 December 2016 not only recorded a positive deviation against target but also exceeded the previous year’s returns by more than 7.00%, notwithstanding the recorded decline in revenue from Storage owing from anti-port congestion measures implemented by PPA. The positive results in revenue, however, were counterweighed by the 5.47% increase in corporate expenditures which was propelled primarily by accelerated facilities maintenance projects of PPA as well as greater costs relative to administration. Notwithstanding this, Net Income After Income Tax ended 15.37% higher when compared with that recorded in 2015. Sustained growth momentum in port operation statistics was also exhibited by PPA with registered improvements in volume of transactions in shipping and trade as well as in key port performance metrics. Cargo throughput and Containers handled at the ports for the year were higher by 8.98% and 11.23%, respectively, where both foreign traffic components took the biggest share in the overall positive deviation. Likewise, passenger traffic and vessel serviced during the period posted growth due to increased reliance on water-borne transport for domestic inter-island connectivity, and increased demand for prime commodities and construction materials which resulted in higher vessel calls. The Ports of Manila, on the other hand, continue to remain free from congestion as a result of the measures set in place to ensure the smooth sailing movement of containers. The faster and efficient flow of movement of commodities resulting from the anti-port congestion programs implemented yielded rates well within internationally accepted standards. To provide responsive, uninterrupted, and streamlined port services to its clientele, PPA awarded Contracts and/or Permits to private entities for the development of ports, lease of idle spaces, and provision of cargo handling and ancillary services. PPA also issued a total of 11 appointments to harbour pilots at various pilotage districts nationwide. Private partnerships were likewise sought for the lease, management, operation, and maintenance of existing Passenger Terminal Buildings where eight (8) were successfully awarded to the winning contractors.
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