Dec 2016 Financial News

Plipdeco suffers drop in cargo volumes

Dec 13, 2016

Plipdeco had its busiest years in 2014 and 2015, says chairman Ian Atherly.

Last year, the port handled more than 221,000 20 foot equivalent containerised units (TEU) in cargo—the highest in its 50 year history—after achieving the 200,000 TEU mark for the first time in 2014.

Speaking at the company’s 50th anniversary awards ceremony at the Centre Pointe Mall Auditorium, Chaguanas, Atherly added, however, that prevailing global and local economic conditions resulted in a significant slowdown in trade Plipdeco has seen a 25 per cent decrease in the volume of cargo being handled for the year so far.

Despite this, Plipdeco still managed to maintain its market share for local containerized cargo and through a programme of prudent fiscal management and cost control has managed to maintain profitability.

Works Minister Rohan Sinanan, in his remarks at the function praised the 300 awardees for their contribution to the development of Plipdeco.

Source:
Shastri Boodan
Trinidad Guardian
Tuesday December 13, 2016

http://www.guardian.co.tt/business/2016-12-13/plipdeco-suffers-drop-cargo-volumes