PPAP logged $12.9 million in revenue in the first half of this year, a 10 per cent gain from $11.7 million in the same period last year. Heng Chivoan
Finland-based Kalmar Global, part of Nasdaq Helsinki-listed Cargotec Oyj, has entered into an agreement with State-run river-port operator Phnom Penh Autonomous Port (PPAP) to supply four cranes, PPAP said on Friday.
It said the four Kalmar SmartPower rubber-tyred gantry cranes (RTGs) are set for PPAP’s LM17 container terminal in Banteay Dek commune’s Kandal Loeu village in Kandal province’s Kien Svay district, around 25km east on National Highway 1 from Monivong Bridge.
The order of RTGs was booked in Cargotec’s third quarter 2020 order intake with delivery scheduled to be completed by the third quarter of next year, PPAP said.
It claimed that the equipment would double the terminal’s capacity.
PPAP noted that the terminal began operations in January 2013 and that it provides services for containerised and conventional cargo with a current container handling capacity of 150,000 twenty-foot equivalent units (TEUs).
A TEU is an inexact unit of cargo capacity used in the shipping industry roughly equivalent to a container with internal dimensions measuring about 20 feet long, eight feet wide and 8.5 feet tall, or a volume roughly 38.5 cubic metres.
PPAP said the RTGs are part of the terminal’s infrastructure expansion programme, which aims to support the company’s growth plans helping them double the terminal’s capacity.
Chairman and CEO Hei Bavy said: “Our strong relationship with Kalmar dates back to the very beginning of our operations at LM17.
“The Kalmar team’s great support and high-performing equipment led us to choose them again when it came to expanding our capacity.” he said.
PPAP noted that the terminal currently operates a Kalmar fleet of RTGs and reach-stackers.
Reach-stackers are power-driven mobile trucks used for handling intermodal shipping containers at airports, sea-ports and railway yards.
Kalmar’s SmartPower RTG consumes up to 10 litres less fuel per hour than most of the diesel RTGs on the market, thanks to its significantly smaller diesel engine and intelligent power management system, PPAP said.
Due to its sophisticated design, Kalmar SmartPower RTG weighs less and has fewer components, resulting in higher efficiency, fewer faults, less downtime and less maintenance.
It provides the perfect balance between productivity and cost efficiency in typical container handling applications, it said.
Kalmar APAC vice-president of sales Daniel Ho said: “We are pleased to continue to gain ground with our RTG solutions in Southeast Asia and it is also a great pleasure to continue our partnership with PPAP and support them in their ambitious growth plans.
“Our fuel-efficient SmartPower RTGs can reduce fuel consumption by up to 50 per cent annually compared to traditional diesel machines, helping customers take the first step on their journey towards more eco-efficient operations,” he said.
On the Nasdaq Helsinki, Cargotec’s (CGCBV) share price fell €0.28 ($0.33) or 1.01 per cent to close at €27.48 on Friday for a market capitalisation of €1.8 billion, with 100,142 shares traded.
Cargotec posted around €3.7 billion in sales for the whole of 2019.
PPAP reported sound business performance in the first half of this year despite Covid-19’s impact on commercial and trade activities regionally and internationally.
In its filing to the Cambodia Securities Exchange (CSX) late last month, PPAP logged $12.867 million in revenue in the first half, a 10 per cent gain from $11.692 million in the same period last year.
It also recorded a 14 per cent growth in gross profit from $7.801 million to $8.903 million during the period.
