• PNG Business News

Calls, cargo volume at Lae port declines, official says



The Lae port recorded a slight decline in calls and cargo volume in the first half of the year compared to the same time last year, says PNG Ports Corporation managing director Fego Kiniafa.


Kiniafa said that any significant change in cargo volumes were primarily driven by the project sector through growth and development in mining and the gas industries.


“Cargo volumes across our network declined in the first half of this year compared to last year and is a general outcome of the broader environment locally and globally,” Kiniafa said.


Kiniafa said Lae saw a decline in vessel calls and cargo volume by 8 per cent and 14 per cent respectively.


“Lae is our biggest port by size and cargo volumes,” he said.


He said the decline in commodities were from imported general dry breakbulk/project cargo, imported bulk fuel and export crude palm oil.


Container volumes increased by 3 per cent between January and June 2020, compared to 2019.


“The decline in major commodity groups are primarily driven by general economic activity, consumer confidence and investment in the public and private sectors,” he said.


“At this stage, it is difficult to comment what the impact of the Covid-19 pandemic is having on Papua New Guinea consumer spending, as the country is a gross importer of fast moving consumer goods/mixed grocery items.”


Source: thenational.com.pg/calls-cargo-volume-at-lae-port-declines-official-says/

PNG Business News

2nd Floor, Suite 6,

Corinthian Plaza Building,

Paseo De Roxas, Legaspi Village,

Makati, Philippines

Phone: +632 251 5599

Subscribe to Our Newsletter

  • White Facebook Icon

© PNG Business News