2 days Ago By N/A (Manila Bulletin)
State-owned Bases Conversion and Development Authority (BCDA) has authorized its subsidiary, Poro Point Management Corp. (PPMC), to manage the interim operations of the San Fernando Seaport in La Union. In a statement on Friday, Jan.
3, Joshua M. Bingcang, BCDA president and chief executive officer, said the move aims to ensure the continued operation of the seaport, which plays a key role in the region's economy. To formalize the deal, Bingcang and PPMC President and CEO Felix S.
Racadio signed a memorandum of agreement granting PPMC interim operational control of the seaport following the expiration of the previous operator's lease contract. According to BCDA, the deal guarantees the uninterrupted flow of services in the seaport area. The previous operator, Poro Point Industrial Corp.
(PPIC), opted not to renew its lease, which expired on Oct. 31, 2024. This necessitated a new management solution.
"The BCDA recognizes the vital role played by the San Fernando Seaport in facilitating international trade, boosting supply chains, and supporting various industries in La Union and Northern Luzon," Bingcang said. "The seaport has been a key driver of growth, generating jobs and livelihood for the community. That is why there is a need to ensure that services in the seaport are uninterrupted.
We thank the PPMC for taking on this task on an interim basis,” he added. PPIC, a joint venture formed in 1999 by BCDA, PPMC, and Bulk Handlers Inc. (BHI), had been managing the seaport until its recent lease expiration.
Although BCDA offered PPIC a three-month holdover period to facilitate a smooth transition, the company declined and confirmed its intention to cease operations. To prevent any disruption in services, the BCDA Board of Directors authorized PPMC to assume interim control of the seaport effective November 6, 2024, formalized through the MOA. “With the trust that the BCDA has given us, PPMC assures that it will perform our task of managing the seaport well,” Racadio said.
Under the MOA, PPMC is responsible for maintaining all seaport operations, including cargo handling, customs brokerage, warehousing, and equipment rentals. Additionally, PPMC will oversee safety and security protocols, environmental protection measures, trade facilitation, and labor regulations within the seaport. The San Fernando Seaport, located within the 236.
5-hectare Poro Point Special Economic and Freeport Zone, is a key component of the region's transport and logistics sector. Formerly the US Wallace Air Station, Poro Point is being developed as a tourism and investment hub to stimulate economic growth in La Union and Northern Luzon..
