Subic port revenues rise 20% to P389M in Q1
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SUBIC BAY FREEPORT — The Subic Bay Metropolitan Authority (SBMA) recorded P389 million in port operation revenues during the first quarter of 2026, posting a 20 percent increase from the same period last year on the back of higher vessel traffic and cargo volumes.
SBMA Senior Deputy Administrator for the Port Operations Group Ronnie R. Yambao said the Seaport Department contributed P302 million to the total revenue, followed by the Airport Department with P50 million and the Transportation, Fleet and Container Division with P36 million.
Yambao attributed the Seaport Department's earnings to stronger vessel and cargo charges, which increased by 31 percent as ship calls rose by 20 percent. A total of 463 foreign and domestic vessels called at the Port of Subic during the quarter.
Bulk and break-bulk vessels accounted for the largest share of port calls, increasing by 29 percent to 171 vessels, while liquid bulk vessel calls climbed 18 percent to 159.
“Consequently, revenues from SBMA's share in pilotage services also increased by 20 percent, while tugboat services posted a significant 75 percent growth,” Yambao said.
Cargo-related revenues also improved, led by a 24 percent increase in wharfage fees.
Containerized cargo volume grew three percent, driven by a five percent increase in imports to 28,070 twenty-foot equivalent units (TEUs). Major import contributors included Ecossential Foods Corp. and Yokohama Tires Philippines Inc.
Exports also posted strong growth, rising 31 percent to 15,757 TEUs, with DSV Air and Sea Inc. and Yokohama Tires Philippines Inc. among the primary contributors.
Non-containerized cargo volume surged 30 percent, fueled by a 47 percent increase in bulk and break-bulk shipments. Significant gains were recorded in rice imports, up 331 percent; corn, up 571 percent; soybeans, up 15 percent; wheat, up 16 percent; and liquid bulk petroleum products, up 11 percent.
Yambao added that revenues from cargo handling services increased by 22 percent, largely generated by Amerasia International Terminal Services Inc., Mega Subic Terminal Services Inc., and Subic Bay Freeport Grain Terminal Services Inc.
The Port of Subic, managed by the SBMA, remains one of the country's largest and busiest deep-water ports, serving as a strategic gateway for international trade and an alternative to the congested Port of Manila.
