Seaports revenue up 129 percent

CNMI seaports posted a revenue increase of 129 percent in the first three months of fiscal year 2006, representing an additional $2.4 million earnings.

This huge increase, according to Commonwealth Ports Authority comptroller George Palican, is due to the collection of retroactive fuel wharfage in October 2005.

Harbor revenues totaled $3.9 million, which is 153 percent higher than the previous year’s $1.8 million. Harbor revenues include wharfage fees, passenger charges, dockage fees, entry fees, and other harbor fees.

Data showed wharfage collection at $733,102; wharfage POL oil at $255,206; and wharfage-Mobil Shell at $2.7 million.

Meantime, CPA’s non-harbor revenues totaled $288,415, which is a percent lower than the previous year’s $291,021. Non-harbor revenues refer to rental income, franchise fees, parking fees, and others.

CPA recorded $223,988 in rental income, which is 3 percent down compared with the previous year’s; $34,256 for franchise fees, which is 7 percent down; and $17,773 for parking fees, which is up 6 percent.

Other non-harbor revenues totaled $12,398, which is 66 percent higher than the same period in the previous fiscal year.

During the first three months of FY 2006, CPA reported $642,011 in total seaport expenses, reflecting a 24-percent increase compared with the previous year.

Personnel costs totaled $204,411, which is 7 percent less than the previous year.

Maintenance and operating expenses were up at $437,600 or 47 percent higher than the previous year.

SAIPAN INCOME UP

CPA said the Saipan seaport recorded a $3.5 million net income, reflecting a 171-percent increase compared with the first three months of FY 2005.

Saipan’s total revenues reached $4.2 million: $3.9 million in harbor revenues and $261,147 in non-harbor revenues, reflecting a 133-percent increase and 28-percent increase, respectively.

Total expenses totaled $612,037, which is 28 percent higher than the previous year’s.

Saipan listed $178,994 in personnel costs, which is 5 percent lower than in FY 2005; and $433,043 for maintenance and operations, which rose by 50 percent over that of the previous fiscal year.

TINIAN INCOME UP

For the Tinian seaport, Palican reported a $58,074 net income during the first three months of FY 2006, or 78 percent higher than the previous year.

Data said that total seaports revenues on Tinian reached $65,507, which is 59 percent higher than the same period in FY 2005.

The total revenues included $49,772 from harbor fees and $15,735 in non-harbor fees.

Tinian seaport expenses totaled $7,433, which is 13 percent lower than the previous year.

ROTA ALSO UP

The Rota seaport posted a net income of $18,473, which is $15,194 higher than the previous year.

Rota harbor revenues totaled $29,481, while non-harbor revenues totaled $11,533.

Total revenues reflect a 22-percent increase compared with the first three months of FY 2005.

For expenses, the Rota seaport spent $19,267 for personnel and $3,274 for maintenance and operations.

Total expenses reflect a 26-percent decline over the previous year.