PHNOM PENH, June 4, 2024 – The Sihanoukville Autonomous Port (PAS), the largest seaport in Cambodia, has reported a substantial revenue increase in the initial four months of the year.
According to a report released by PAS on Monday, the port saw revenues of $35.2 million from January through April, representing a 24.4 percent rise from the same period in 2023.
The report indicates that the port’s cargo handling also saw significant growth. It managed 296,685 twenty-foot equivalent units (TEUs) during this period, marking a 24 percent increase from the 239,273 TEUs handled in the previous year.
Several factors have contributed to this uptick in revenue. Analysts suggest that the robust performance of Cambodia’s economy, which is forecasted to continue growing this year, plays a crucial role. Key sectors such as tourism and garment manufacturing are driving this growth, leading to higher volumes of imports and exports through the port.
Moreover, the completion of a new container terminal at PAS in late 2023 has enhanced the port’s capabilities. This expansion enables it to accommodate larger vessels and manage more cargo, significantly increasing its operational capacity and appeal to international shipping lines.
As Cambodia’s only international and commercial deep seaport, PAS is central to the nation’s maritime trade. The port has ambitious development plans, with a three-phase expansion strategy. The new container terminal, currently underway and set to complete 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.
