New Manila North Harbor operator reduces tariff by 10 percent

Manila North Harbour Point Inc. (MNHPI), the new manager of the Manila North Harbor, announced a 10-percent tariff reduction on Tuesday. “Lower tariffs can be reflected through reduced cost of inter-island passenger tickets and cargo rates by the shipping lines," MNHPI CEO and President Mikee Romero said in statement to the Philippine Stock Exchange through co-owner Metro Pacific Investments Corp. Romero added that tariff reduction was included in the 25-year P14.5-billion Port Redevelopment Master Plan to modernize Manila’s busiest port. MNHPI is a joint venture of Reghis Romero III's Harbour Centre Port Terminal Inc. and Manuel Pangilinan’s Metro Pacific Investments Corp. The management of the port was officially turned over on April 12 from the Philippine Ports Authority (PPA). Earlier, the Philippine Liner Shipping Association (PLSA) warned of higher freight and passenger rates if MNHPI charges concession fees on port service providers. Romero, however, clarified that the company would not impose any concession fees. “We have reiterated time and again with the PLSA that no port concession fee has ever been levied by MNHPI and it does not intend to do so until the major infrastructure are in place," Romero said. The company reported the release of P100 million as advanced payment of port workers’ past service benefits, aside from the P42-million payment for the PPA for the first quarter of this year. It also reported delivering 159 units of port equipment that are 30 percent more than the PPA’s contracted number of units, as well as the hiring of 1,000 workers for the project. It added that it is targeting 5,000 to 10,000 more hires for the project’s completion. “We are right on schedule with our commitments, based on the terms of reference in the MNHPI-PPA contract including other specifics to pursue our vision outlined under the Master Plan," Romero said, adding that the port’s modernization could be done within the next two years. The company said the first phase of the modernization would involve redesigning the ten-pier port to a three-terminal port with wider beds, which could improve its handling from five to 28 containers per hour. “This reflects a more-than-500-percent increase in productivity for the port, and renders substantial savings for shipping companies," Romero said. Other changes would include dredging of port waterways, computerization, introduction of new cargo handling equipment, and construction of a modern passage terminal. - GMANews.TV