The Bases Conversion and Development Authority (BCDA) said its subsidiary, Poro Point Management Corp. (PPMC), will have interim operational control over the San Fernando Seaport.
In a statement on Friday, the BCDA said a memorandum of agreement (MOA) signed by BCDA President and CEO Joshua Bingcang and PPMC President and CEO Felix Racadio, grants the PPMC interim operational control over the seaport and ensures the continuity of operations and provision of services in the seaport area.
This came after the lease contract of the previous operator, Poro Point Industrial Corp., (PPIC) expired on Oct. 31, 2024, and the company signified its intent to cease operations.
Prior to the expiration of the lease, the BCDA offered PPIC a three-month holdover authority to ensure uninterrupted operations of the seaport while it is preparing for a competitive bidding for a new operator.
The BCDA said PPIC declined the offer and confirmed its intent to cease operations.
To ensure continuity, the BCDA Board of Directors authorized PPMC to take over interim seaport operations effective Nov. 6, 2024.
The MOA formalizes the interim arrangement until a new operator is selected.
Under the MOA, PPMC shall ensure the continued provision of key services, including cargo handling, customs brokerage, warehousing, and equipment rentals.
It is also tasked to oversee the safety and security, environmental protection, trade facilitation, and labor regulations in the seaport. It shall maintain and repair all the structures in the area.
“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. The seaport has been a key driver of growth, generating jobs and livelihood for the community,” Bingcang said.
“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. (PNA)
