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Fiji Ports Terminal Efficiencies Make Contribution To Aitken Spence Profits

Sri Lankan conglomerate Aitken Spence PLC says the improved efficiency of its port management operations in Fiji contributed significantly to its maritime and logistics sector profits. This is for our
04 Mar 2015 09:01
Fiji Ports Terminal Efficiencies Make Contribution To Aitken Spence Profits
Capitaine Cook is a regular vessel that comes into Port of Suva and Port of Lautoka.

Sri Lankan conglomerate Aitken Spence PLC says the improved efficiency of its port management operations in Fiji contributed significantly to its maritime and logistics sector profits.

This is for our two main international ports of entry, Port of Suva and Port of Lautoka. Aitken Spence overtook management operations through a Private-Public-Partnership with Government in 2013.

The company listed on the Colombo Stock Exchange announced its nine month profit for the year ending December 31, 2014 recently.

The company released on its website saying its Maritime and Logistics sector recorded Rs. 525 million (FJ$8.03 million) as profits-before-tax. This was a decrease of 2.8 per cent over the previous year.

Its revenue, however, was up by Rs. 5.2 billion (FJ$79.5 million).

The release said: “Aitken Spence is Sri Lanka’s largest integrated logistics services provider and has port management services in Africa and the South Pacific.

“Port operations in Fiji contributed significantly to the sector profits with the company achieving high efficiency levels in the ports of Suva and Lautoka.”

Meanwhile, the past year, the Fiji Ports Terminal Limited handled 72,396 containers at the Port of Suva with twenty-foot equivalent unit (TEUs) of 89,663.

Compared to 2014 container-handling wise, Port of Suva did not have any huge difference against 2013.

Container-handling for 2013 then was 72,364, a difference of only 32 containers.

Although the point of difference really was in the efficiency in how containers were handled with and the reduced port congestion as a result.

This has been reflected in reduction of port congestion surcharge by almost all the shipping lines coming to Fiji.

Fiji Ports Terminal has managed to increase productivity by 70 per cent in comparison to the productivity levels prior to July 2013.

The vessel turnaround times have thus improved dramatically and the berthing delays encountered previously have also reduced remarkably.

Meanwhile, the blue-chip’s financial results for the nine months saw profit-before-tax increasing by 4.4 per cent to Rs. 3.8 billion (FJ$45.8 million).

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