THE overall output of the Cebu Port Authority (CPA), in terms of both inbound and outbound shipment for the first half of 2024, showed beneficial impacts on Cebu’s economy.
Based on the CPA preliminary data from January to June, sea harbors in Cebu handled 36.219 million metric tons (MT) of cargo in 2024, which is 10.7 percent higher compared to the 32.717 million MT catered from the same period in 2023.
Maryknoll Bolasa, CPA spokesperson, told SunStar Cebu in an interview on Monday, Aug. 5, 2024, that the increased number of cargoes entails developments in trade and commerce.
“Cebu’s economy sees various benefits in the increased cargo activity as it boosts trade and commerce, which drives economic growth,” said Bolasa.
“Rising cargo shipments also highlight Cebu’s recovery from the pandemic setback. Higher cargo volumes also lead to increased revenues from port operations,” she added.
Bolasa said a portion of CPA’s income is remitted to the national treasury to fund public infrastructure, social services and national economic development projects.
She added that the port revenue helps maintain and improve facilities and enhance operational efficiency, safety standards and port services for maritime transport users.
Domestic cargoes increased by 8.5 percent in the first semester with 28.726 million MT, compared to the first half of 2023 with 26.476 million MT.
Foreign cargoes also improved by 20.1 percent to 7.494 million MT from 6.240 million MT.
Additionally, both export and import foreign cargoes surged by 4.1 and 22 percent, respectively.
Exports rose from 735,741 MT to 765,674 MT, while imports improved from 5.505 million MT to 6.728 million MT.
Ship calls inbound to Cebu ports showed a higher percentage in the first half of 2024 at 7.3, translating to 73,266 from 68,285 number of ships docked in the same semester in 2023.
Domestic ship calls also grew by 7.3 percent from 67,823 to 72,747, while foreign ship calls increased by 12.3 percent to 519 from 462.
However, the CPA data also recorded a decline in container traffic which dropped by 5.6 percent to 478,003 twenty-foot equivalent units (TEUs) from 452,668 TEUs in the first half of 2023.
Domestic boxes also dropped by 1.3 percent to 240,639 TEUs from 243,775 TEUs.
SunStar Cebu tried to ask Bolasa for more details on the reason for the decrease, but she had yet to respond as of press time.
CPA has base ports in the Cebu International Port and the domestic zone. Its subports include the cities of Mandaue, Danao, Toledo and the municipalities of Sta. Fe and Argao. / DPC