Phnom Penh Port revenues slide in 2020
Phnom Penh Autonomous Port reports a six percent drop in revenues as compared to 2019.
By Vikram Malik, Maritime Direct India Correspondent
Although Phnom Penh Autonomous Port (PPAP) revenues topped $29 million in 2020, this was in fact a six percent drop when compared to revenues for 2019.
An official press release from the Cambodian Ministry of Public Works and Transport confirms that unaudited annual PPAP revenues for 2020 added up to $29.48 million, six percent down from the audited figure of 2019 – $31.31 million.
This downtrend has been attributed to an overall slowdown in shipping.
Numerous statistics confirm this attribution:
- In 2020, PPAP received 2,363 cargo vessel voyages, as compared to 2,409 the year before – a reduction of 1.91 percent.
- There was a drastic drop in passenger boat traffic, with voyages down from 397 in 2019 to 126 in 2020, a staggering 68.26 percent fall.
- Cargo and gas-fuel shipments saw a fall too, albeit minor – from 3,789,464 tonnes in 2019 to 3,780,530 tonnes, a drop of just 0.24 percent.
The CEO and Chairman of PPAP, Hei Bavy ascribed this slowdown to the pervasive effects of the Covid-19 situation which led to severe drops in cargo shipping and other ancillary services. At the same time, he expressed his optimism that PPAP is prepared to overcome the problem.
Alongside, Sin Chanthy, president of the Cambodia Logistics Association (CLA) blamed factory closures from March to July 2020, for a steep decline in the country’s transport activity. For this year, he predicts a gradual recovery in the ensuing months.
