Sihanoukville Autonomous Port Reports 24.4 Percent Revenue Increase in Early 2024
Significant Growth in Cargo Handling Bolsters Port's Performance
The Sihanoukville Autonomous Port (PAS), Cambodia's largest seaport, has reported a substantial revenue increase in the first four months of the year. According to a report released by PAS on Monday, the port generated 35.2 million US Dollars from January through April, marking a 24.4 percent rise from the same period in 2023.
The port's cargo handling also experienced significant growth, managing 296,685 twenty-foot equivalent units (TEUs) during this period, a 24 percent increase from the 239,273 TEUs handled last year.
Analysts attribute this revenue uptick to the robust performance of Cambodia's economy, driven by key sectors such as tourism and garment manufacturing. These sectors have led to higher volumes of imports and exports through the port.
The completion of a new container terminal at PAS in late 2023 has also enhanced the port's capabilities, enabling it to accommodate larger vessels and manage more cargo. This expansion has significantly increased the port's operational capacity and appeal to international shipping lines.
As Cambodia's only international and commercial deep seaport, PAS plays a central role in the nation's maritime trade. The port has ambitious development plans, including a three-phase expansion strategy. The new container terminal, currently under construction and set to be completed by 2026, will extend 350 meters in length and reach a depth of 14.5 meters, increasing its annual handling capacity to 1.45 million TEUs. Subsequent phases of the expansion, scheduled for 2028 and 2029, will further elevate the terminal's capacity to over 2.67 million TEUs annually.
The port's cargo handling also experienced significant growth, managing 296,685 twenty-foot equivalent units (TEUs) during this period, a 24 percent increase from the 239,273 TEUs handled last year.
Analysts attribute this revenue uptick to the robust performance of Cambodia's economy, driven by key sectors such as tourism and garment manufacturing. These sectors have led to higher volumes of imports and exports through the port.
The completion of a new container terminal at PAS in late 2023 has also enhanced the port's capabilities, enabling it to accommodate larger vessels and manage more cargo. This expansion has significantly increased the port's operational capacity and appeal to international shipping lines.
As Cambodia's only international and commercial deep seaport, PAS plays a central role in the nation's maritime trade. The port has ambitious development plans, including a three-phase expansion strategy. The new container terminal, currently under construction and set to be completed by 2026, will extend 350 meters in length and reach a depth of 14.5 meters, increasing its annual handling capacity to 1.45 million TEUs. Subsequent phases of the expansion, scheduled for 2028 and 2029, will further elevate the terminal's capacity to over 2.67 million TEUs annually.
Translation:
Translated by AI
