AFAB Posts Increase in Port Calls; ImpEx Numbers Trending in the Right Direction
The Authority of the Freeport Area of Bataan (AFAB) recorded significant increase in both cargo-carrying vessel calls and domestic calls, while the numbers for import and export transactions trended in the right direction, for the first quarter of 2018 as compared to the first quarter of 2017.
Based on the data submitted by the Ports Services Division (PSD) of the FAB Enterprise Department (FED), the number of cargo-carrying domestic vessel calls increased by 10% during the 1st quarter of 2018, indicating a shift from shipment through land via trucks to shipment through sea via other vessels.
On the other hand, the surge in domestic calls, as well as in average vessel stay time is brought upon by the continued development of the Seasia Nectar Port Services Inc., with majority of the domestic calls coming from construction-related vessels and barges. Seasia is a duly registered FAB Enterprise that is engaged in the business of handling of containers, bulk liquid and dry cargoes, refrigerated warehousing facilities, warehousing and stevedoring, lightering, towing and/or storing of cargo handled by the company to and from port terminals in the delivery from abroad and/or for shipment abroad as may be necessary.
With regards to import and export numbers, total import value and transactions for the 1st quarter of 2018 decreased by 5.7% and 4.7% respectively, based on the data from the Enterprise Assistance Division (EAD) of the FED. This decrease in import numbers is a likely indicator that FAB Enterprises are starting to source more of their raw materials and items from local sources rather than importing them. Conversely, total export value increased by 9.4% despite the total export transactions decreasing by 14%, denoting that export value per transaction has increased for January to March 2018.
The FAB is the Freeport of choice in the Philippines for high-end fashion manufacturing enterprises, having posted the fastest growth rate in both investment and employment generation from 2012 to 2016. Through pioneering efforts in corporate governance and multi-sectoral collaboration, the FAB envisions itself to be a development catalyst in the country, via the creation of meaningful employment and inclusive economic growth in Central Luzon.