Logo of Phnom Penh Post newspaper Phnom Penh Post - Sihanoukville port revenues up 22% on economic growth

Sihanoukville port revenues up 22% on economic growth

Sihanoukville port revenues up 22% on economic growth

Revenues earned by the Sihanouk Autonomous Port for the first quarter of this year jumped 22 per cent year-on-year to US$8.3 million, according to figures released yesterday by SAP.

Exports of the Kingdom’s rice, garments and timber, coupled with imports of textiles, electronics and construction materials, had driven the increase, SAP general director Lou Kim Chhun said.

“Economic growth has increased remarkably, so the increase of goods in and out of the country also saw a hike,” he told the Post yesterday by phone.

Total revenues for the period reached $8.3 million, up from $6.8 million for the first three months of 2011, according to the SAP data.

Twenty-foot-equivalent containers climbed from about 53,900 to near 60,300, an increase of 11.8 per cent.

Lou Kim Chhun said milled-rice exports totalled 30,828 tonnes, an 18 per cent increase over the same period in 2010, making for an annualised export total from SAP of 123,312 tonnes.

The Kingdom aims to export as much as a million tonnes of milled rice by 2015.

Kuch Pheng, the director of Advanced Glory Logistics (Cambodia), said the uptick in economic activity had resulted in a 10 per cent bump in shipments for his firm, especially in garments, electronics and construction materials.

“The improvement in the economic environment caused a rise in local and foreign purchase orders,” he said.

But Kuch Peng said the boost in shipping had given rise to intense competition in the transport sector.

He noted a five per cent decrease in revenues for his company in the first quarter year-on-year as the sector’s players fought for customers.

In 2011, SAP’s total shipping revenues were about $30.5 million, according to official SAP figures.

To contact the reporter on this story: Sieam Bunthy at [email protected]

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