Sihanoukville Autonomous Port (PAS), Cambodia’s largest port, has reported a significant increase of about 25% in revenue in the first six months of this year.
According to its second Quarterly Report 2024, PAS generated approximately $52 million in revenue during the first half of this year, an increase of over $10 million compared to the same period in 2023.
As of the end of June, PAS’ total assets rose by 5.29% to $420 million, while its total equity is over $250 million, a year-on-year increase of 5.69%, the report added.
Analysts attributed the growth in revenue to several factors. One potential driver is the continued positive performance of Cambodia’s economy.
The country is expected to see steady growth again this year, fuelled by tourism and garment manufacturing, leading to an increase in imports and export activity at the port.
Another contributing factor could be the recent completion of a new container terminal at PAS. The expansion, completed late last year, allows the port to accommodate larger vessels and handle a greater volume of cargo.
The increased capacity is another significant factor in attracting new business and boosting revenue.
The PAS is the Kingdom’s sole international and commercial deep seaport.
PAS plans to develop the port in three phases. By 2026, a new container terminal, 350 metres in length and 14.5 metres deep, with a container capacity of 1.45 million TEUs (twenty-foot equivalent units) per year, is slated for completion.
The second phase of the new container terminal will be implemented in 2028, followed by the third phase, to be completed in the following year, increasing the container capacity to more than 2.67 million TEUs per year. AKP
