Sahathai Terminal (PORT), a leader in comprehensive port and logistics services, announced a first-half revenue of 1,016.21 million baht, a 53.98% increase compared to 659.95 million baht in the same period last year. This growth is supported by the overall recovery of the shipping industry in Thailand. The company anticipates continued growth in both revenue and profit in the second half of the year, confident in its strong fundamentals, and aims for a 15% revenue growth for 2022.

Mr. Banchai Kruchit, Deputy CEO of Sahathai Terminal Public Company Limited (PORT), stated, "The company's revenue has clearly rebounded in the second quarter of 2022 due to the improving situation in the domestic shipping industry and the easing of concerns related to COVID-19, along with the lifting of lockdown measures in various countries. We expect total revenue for 2022 to grow by the targeted 15%."

In the second half of the year, the company will continue to focus on maximizing international feeder cargo handling services and expanding bulk shipping services. With the anticipated improvement in the situation in the latter half of 2022, countries in the region are beginning to ease travel restrictions and facilitate trade. The container shortage is being addressed, and freight rates are showing signs of decline, all of which are positive signals for importers and exporters.

"Regarding the new port construction project, PORT is collaborating with Mitr Phol Sugar Group and APM Terminals, a subsidiary of A.P. Moller-Maersk, the world's leading shipping line, through Bangkok River Terminal Co., Ltd. (BRT). This project will provide international container feeder services on over 45 rai of land to accommodate future growth. The EIA has already been approved, and it is expected to be completed and operational by the end of 2022. Additionally, the company is partnering with Frasers Property, a leader in industrial real estate services in Thailand, to develop a distribution center on over 40 rai of land in the outskirts of Bangkok through Bangkok Logistics Park Co., Ltd. (BLP). The company believes that both businesses will strengthen and ensure the sustainability of its operations," he added.

Mr. Worawit Utsapsakul, Chief Financial Officer of Sahathai Terminal Public Company Limited (PORT), mentioned, "For the second quarter of 2022, the company reported total revenue of 444 million baht, a 32.49% increase compared to the same period last year. The increase in revenue is attributed to the expansion of income from freight forwarding services, with a gross profit of 56.59 million baht, down 14.50% year-on-year. For the first six months of 2022, PORT's total revenue reached 1,016.21 million baht, up 53.98% from 659.95 million baht in the same period of 2021. We believe we have passed the lowest point in the first half and are on a continuous upward trend in the second half of the year."

The company remains committed to ongoing business expansion, with an investment plan for 2022 set at approximately 160 million baht. This budget will be allocated for the third port project through Bangkok River Terminal Co., Ltd. (BRT), in collaboration with APM Terminals and Mitr Phol Sugar Group, amounting to 70 million baht; 40 million baht for developing machinery and equipment; and 50 million baht for various development projects, including a potential warehouse at the port and a multi-purpose warehouse for importers needing bonded warehouse space. The company is also open to new investments, whether through mergers and acquisitions (M&A) or joint ventures (JV), to enhance its business foundation and improve service efficiency for customers.