Port Authority sees income drop, hopes virus controlled soon

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Port Authority sees income drop, hopes virus controlled soon

By THE NATION

 

 

Global economic factors cut Port Authority of Thailand (PAT) revenue by 3 per cent in the first quarter of fiscal year 2020, which began in October.

 

With 2.337 million TEU (20-foot equivalent units) of freight containers handled at its ports, earning Bt3.626 billion, the PAT ended up 3 per cent or Bt97 million short compared to the same period in 2018, its director Kamolsak Phromprayoon said on Thursday (February 13).

 

“Our profit dropped by around Bt24 million,” he said, citing income from the ports at Bangkok, Laem Chabang, Chiang Saen, Chiang Khong and Ranong.

The volume of containers was down by 2.88 per cent.

 

“The decreases resulted from reductions in Thai exports and imports due to the US-China trade war and the baht’s appreciation,” Kamolsak.

 

“Turnover should turn positive during the second quarter [January-March] if the coronavirus outbreak is quickly brought to an end, since most containers moving through our ports are from China,” he said.

 

Source: https://www.nationthailand.com/news/30382074

 

-- © Copyright The Nation Thailand 2020-02-13

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