The Sihanoukville Autonomous Port has reported a significant increase in revenue of around 25% in the first six months of this year.
According to its second quarterly report 2024, The Sihanoukville Autonomous Port generated revenues of approximately $52 million in the first half of this year, an increase of more than $10 million compared to the same period in 2023.
At the end of June, total assets were up 5.29% to $420 million, while its total equity was over $250 million, up 5.69% year-on-year, the report added.
The analysts attributed the earnings growth to several factors. One potential driver is the continued positive performance of the Cambodian economy.
Another contributing factor could be the recent completion of a new container terminal. The expansion, completed at the end of last year, allows the port to accommodate larger vessels and handle a greater volume of cargo.
The increased capacity is another important factor in attracting new business and boosting revenues.
The Sihanoukville Autonomous Port plans to develop the port in three phases. A new container terminal, 350 metres long and 14.5 metres deep, with a container capacity of 1.45 million twenty-foot equivalent units (TEUs) per year, is scheduled for completion by 2026.
The second phase of the new container terminal will be implemented in 2028, followed by the third phase, to be completed the following year, which will increase the container capacity to more than 2.67 million TEUs per year.
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