PORO Point Management Corp. (PPMC), a subsidiary of the Bases Conversion and Development Authority (BCDA), has taken over interim operations of the San Fernando Seaport in La Union following the expiry of the lease contract held by the previous operator.
The deal was formalized in a memorandum of agreement signed by BCDA President and CEO Joshua Bingcang and PPMC President and CEO Felix Racadio.
“The BCDA recognizes the vital role played by the San Fernando Seaport in facilitating international trade, boosting supply chains and supporting various industries in La Union and Northern Luzon,” Bingcang said, noting that the seaport is a key driver of economic growth, generating jobs and livelihood for the community.
“That is why there is a need to ensure that services in the seaport are uninterrupted. We thank the PPMC for taking on this task on an interim basis,” he added.
The seaport was previously managed by Poro Point Industrial Corp. (PPIC), a joint venture formed in 1999 by the BCDA, PPMC and Bulk Handlers Inc.
PPIC opted not to renew its lease after this expired on Oct. 31, 2024.
The BCDA board of directors authorized PPMC to handle seaport operations on an interim basis effective Nov. 6, 2024 until a new operator was selected.
Prior to the expiration of PPIC’s lease on Oct. 31, 2024, the BCDA offered the company a three-month holdover authority to ensure uninterrupted operations of the seaport while preparing for a competitive bidding for a new operator. PPIC declined the offer.
Under the new agreement, PPMC will ensure the continued provision of key services, including cargo handling, customs brokerage, warehousing and equipment rentals. It is also tasked to oversee the safety and security, environmental protection, trade facilitation and labor regulations in the seaport, and maintain and repair all the structures in the area.
“With the trust that the BCDA has given us, PPMC assures it will perform our task of managing the seaport well,” Racadio said.
The San Fernando Seaport is located within the 236.5-hectare Poro Point Special Economic and Freeport Zone — formerly the US Wallace Air Station — which is being developed as an investment and tourism hub. It has been benefiting La Union’s transport and logistics sector through its own airport and international seaport.
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