PPAP Port Collects Over USD 27 Million in Eight Months, Marking a 15% Growth

• Sommana Yan
• 7 October 2024
• Uncategorized
• 1415 Views

In a remarkable performance, Phnom Penh Autonomous Port (PPAP) collected more than USD 27 million in revenue during the first eight months of 2024, reflecting a 15% increase compared to the same period last year. This boost, driven primarily by port operations and services, showcases the port’s robust contribution to Cambodia’s growing economy, as confirmed in a press release on 9 September 2024.

Of the total revenue, over USD 22 million came from core port operations, while port authorities collected USD 3 million, and USD 960,000 was generated from other services. However, it is important to note that these figures have not yet been audited.

For August 2024 alone, PPAP reported earnings of more than USD 4 million, with USD 3.8 million stemming from port operations, USD 550,000 from port authorities, and over USD 40,000 from additional services. August saw a particularly strong month, with revenues increasing by 25% year-on-year.

The port handled 53,825 TEUs of container volume in August, marking a 25.46% rise compared to August 2023. Additionally, 49 passenger ships docked at the port in the same month, reflecting a 36% increase in ship traffic year-on-year, highlighting PPAP’s expanding role in Cambodia’s logistics and maritime trade sector.

• Business and Market
• Economy and Finance