Following the port’s capacity expansion, PAS’s container throughput increased by 29.32% in Q4 2024. PAS
The expansion of the Sihanoukville Autonomous Port (PAS) led to a one third increase in container throughput in 2024. This development has driven the port’s net profit after tax to surge by nearly 1,500%, reaching over 63.48 billion riel (around $15.8 million) in the last quarter of 2024, according to PAS’s Q4 2024 business performance and financial report.
Net profits were up 1,474.41% over the same period in 2023. Based on this strong performance, earnings per share stood at 740.15 riel.
The report noted that following the expansion, container throughput in Q4 2024 reached 271,453 TEUs, an increase of 61,538 TEUs or 29.32%.
Additionally, total revenue amounted to 127.716 billion riel (around $31.7 million), rising by 26.643 billion riel or 26.62%.
Lou Kim Chhun, chairman of the board and CEO of PAS, stated in the report that PAS achieved another milestone with the official inauguration of a 253-metre container berth.
The project, presided over by Prime Minister Hun Manet, involved upgrading the general cargo berth (originally built in 1969 with a length of 350 metres) and equipping it with modern container handling equipment, including two quay cranes (QC) and six rubber-tired gantry cranes (RTG).
Additionally, dredging work was carried out at all three container berths to a depth of 11.5 metres.
He noted that the upgrades have increased capacity from 550,000 TEUs per year to 1,000,000.
The dredging allows container vessels with a draft of 10.4 metres to dock, increasing the percentage of global vessels that can call at the port from 18% to approximately 38%.
For vessels operating within the Asia-Pacific region, this percentage rises to 49.25%.
PAS recorded a total container throughput of 1,032,191 TEUs in the 12 months of 2024, an unprecedented increase of 29.38%.
This achievement highlights PAS’s crucial role in Cambodia’s transport and logistics sector, and its major contribution to the Kingdom’s economic growth and development.
“PAS will continue to enhance its services and efficiency to achieve even greater results for the benefit of its shareholders. The port has consistently improved service quality, operational efficiency and infrastructure development, including expanding internal roads, constructing additional yard areas and adding more entry and exit gates to accommodate growing customer demand and national economic progress,” added Kim Chhun.
He explained that the port is currently implementing the first phase of a new deep-water container terminal, which will be 350 metres long and have a depth of 14.5 metres.
The construction of this terminal was officially inaugurated by the prime minister on December 22, 2023.
Additionally, PAS plans to equip the terminal with advanced container handling equipment, including three QCs, nine RTGs, two empty reach stackers, sixteen terminal tractors and an automated container yard management system.
The project will increase the port’s total capacity to 1.45 million TEUs per year, allowing approximately 93% of vessels in the Asia-Pacific region to dock.
This is expected to reduce maritime transport costs and enhance Cambodia’s competitiveness, with construction slated for completion by 2027.
