The Philippine Ports Authority (PPA) expects more than 100,000 cruise passengers to visit the Philippines this year, up from 90,000 passengers from 91 cruise ship calls last year.
PPA general-manager Jay Santiago said that in the first five months of 2024, there were 65 cruise ship calls with 58,648 passengers who visited the country. Most passengers are from Europe and Hong Kong, he said.
The state-run agency also announced that it is earmarking P16 billion over the next four years to finance big-ticket maritime infrastructure projects.
“We are earmarking P16 billion for PPA infrastructure projects for the next four years,” PPA general-manager Jay Daniel Santiago told reporters in a briefing in celebration of the agency’s 50th founding anniversary.
PPA projects in Luzon include the Port Capinpin Expansion Project in Bataan, Curimao Port Expansion and Restoration Project, Jose Panganiban Port Improvement Project in Camarines Norte, Balogo Port in Camarines Sur and Wharf in Claveria Port of Cagayan.
The port authority’s priority projects in the Visayas include the construction of wharf and operational area in Catacbucan Port in Bohol, Tapal Port Expansion Project in Ubay, New Port Development Project in Northern Samar, Babatangon Port in Leyte, Banago Port Improvement Project in Negros Occidental and Ormoc Extension Project in Leyte.
Port projects in Mindanao include the Cargo Ship Port in Napa, Surigao del Norte; Upgrading of General Cargo Berth in Davao City; and Plaridel Port Expansion in Misamis Oriental.
Santiago said the state-run port authority engaged consultants for these projects which are expected to be completed within one year.
He said the agency also completed the Cruise Ship Port in Port of Jubang in Dapa, Surigao del Norte and the newly-upgraded passenger terminal building at Port of Tubigon in Bohol.
The Tubigon Port Passenger Terminal is capable of accommodating more than 1,000 passengers at any given time. The new terminal building features state-of-the-art amenities, including passenger waiting areas, baggage handling features and food kiosks.
The PPA also completed the expansion of Balanancan Port in Marinduque which aims to improve port facilities and accommodate the growing demands of maritime trade and commerce in the province.
Santiago expects PPA’s revenues to grow between 15 percent and 18 percent this year on the back of robust domestic trade. PPA posted P25.44 billion in revenues in 2023, up by 24 percent from the previous year’s record.
“We are targeting to remit P5.5 billion in dividends to the national government this year,” he said.
PPA remitted P5.06 billion in dividends, equivalent to 58.25 percent of its net earnings in 2023.
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