Logo of Phnom Penh Post newspaper Phnom Penh Post - PPAP logs double-digit rise in throughput for full year 2021

PPAP logs double-digit rise in throughput for full year 2021

Content image - Phnom Penh Post
Phnom Penh Autonomous Port (PPAP) posted a 13.41 per cent increase in cargo and fuel oil throughput and a sharp 18 per cent rise in container throughput. Heng Chivoan

PPAP logs double-digit rise in throughput for full year 2021

Local publicly-listed river port operator Phnom Penh Autonomous Port (PPAP) reported a sound business performance for the full year 2021 despite a tough time with Covid-19.

In a preliminary financial report filed to the Cambodia Securities Exchange (CSX) on December 20, the state-owned enterprise (SOE) posted a 13.41 per cent increase in cargo and fuel oil throughput and a sharp 18 per cent rise in container throughput.

It also noted the total lack in movement of passengers through the port over the year.

CSX Market Operations Department director Kim Sophanita told The Post on December 20 that PPAP managed a considerable estimated increase in net profit for 2021, which the firm attributes to strong business performance in terms of containers and overall cargo, despite the absence of passenger services during the year.

“It’s good for the company’s stock price, as investors will remain positive on the company’s business and financial position.

“2021 was the year of disruption for global supply chain and logistics, but I think Cambodia was less affected. Even though there were some travel and business restrictions, our port industry performance remained strong, due the fact that Cambodia was among a few countries in the world that managed the Covid situation well,” she said.

Last week, PPAP reported an unaudited revenue of $30,390,172 for the first 11 months of 2021, a 13.999 per cent year-on-year uptick from $26,658,211 in 2020.

The SOE broke these down as “port operation” ($24,377,683, up 16 per cent year-on-year), “port authority” ($3,233,072, down three per cent), “other services” ($307,541, up 89 per cent) and “other income” ($2,471,876, up 12 per cent).

In 2020, PPAP reported an unaudited revenue of $29.48 million, down six per cent from $31.31 million in 2019, which director-general Hei Bavy blamed primarily on Covid and its impact on goods transport and other services.

MOST VIEWED

  • Massive stingrays may live in Mekong’s deep pools

    US scientists have suggested that unexplored deep pools in the Mekong River in an area of Stung Treng could potentially be home to significant populations of giant freshwater stingrays, one of the world’s largest freshwater fish species. This comes as a fisherman hooked a 180

  • PM takes time to meet, greet Cambodians living in the US

    After landing in the US ahead of the ASEAN-US Special Summit, Prime Minister Hun Sen was received by over 1,000 Cambodian-Americans including political analysts who welcomed him with greetings, fist bumps and selfies. Hun Sen also met with analyst Mak Hoeun, who had allegedly spoken ill

  • PM heads to Washington for ASEAN-US special summit

    Regional and international issues and how to bring the ASEAN-US partnership to another level will be discussed at length as Prime Minister Hun Sen and his ministers arrive in Washington, DC, for a special summit on May 12-13. During the trip, Hun Sen and ASEAN

  • National Assembly refutes EU resolution

    The National Assembly (NA) has hit back at a European Parliament resolution condemning the political and human rights situation in Cambodia, calling it another display of the Parliament’s “double standards”. Key points of the resolution include a warning that the Parliament could exclude the

  • Soaring global fuel prices: an opportunity for Cambodia?

    Cambodia is feeling the squeeze from the soaring global coal and oil prices. Electricity du Cambodge (EDC)would certainly be hurting from this reality, and most likely re-assessing its plans to add more coal power stations. EDC buys half of Cambodia’s electricity from plants

  • PM reflects on shoe throwing: Free speech or act of violence?

    Prime Minister Hun Sen on May 17 questioned whether a man who threw a shoe at him while he was in the US was exercising freedom of expression or if it was an act of hostility. Hun Sen was referring to an incident last week when