Phnom Penh Autonomous Port will maintain a recovery into 2010 with projected 26% revenue growth, the facility's director general, Hei Bevy has said as the inland port continues to benefit from connections to Cai Mep deepwater port in Southern Vietnam.
Cambodian port is targetting strong revenue growth this year
It has signed up shipping line Maersk in connecting to the new Vietnamese port, said Hei Bevy, and is now targeting $6.25m in revenues for 2010.
The port suffered a 2% fall in revenues last year to $4.93m following an 8.8% drop in volumes, according to figures printed in one Cambodian newspaper. These better a January 3 projection by the Phnom Penh Autonomous Port’s deputy director Eang Veng Sun who estimated that revenues had dropped 15% last year, without giving a revenue forecast.
The newly issued figure for Phnom Penh also beat the downturn in Cambodian trade as the capital’s port benefited from the July 2009 opening of the Cai Mep facility, which allows more convenient connections down the Mekong and cuts days off passage to North America by avoiding other, less convenient Asian hubs, particularly Singapore and Hong Kong.
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