Puerto Panul 2003 net profit drops 3.85%

Puerto Panul, the private operator of the north bulk terminal at San Antonio port in Chile's Region V, reported a US$1.38mn net profit in 2003, down 3.85% from the previous year. For the period, operating profit fell 20.4% to US$1.75mn and sales dropped 8.93% to US$4.91mn. Puerto Panul won a 30-year concession in 1999 and is one of five private operators at San Antonio, which moved a record 9.75Mt in 2003, up 5.13% from the previous year making it Chile's most important port in regard to cargo movement. San Antonio has a 55% market share in Region V, followed by Valparaiso (29%) and Ventanas (16%) ports. The port chiefly handles grains, fruits, seafood and copper. The 271ha facility has four terminals (nine berths) operated by private concessionaires and is 105km from capital Santiago, making it the closest port to that city. NEW CONTAINER TERMINAL An EPSA spokesperson told BNamericas that the contract to build and operate a new container terminal was signed last week with Sudamericana de Agencias Aereas y Maritimas (SAAM). The terminal will have the capacity to store and manage 4,500 TEUs simultaneously and more than 60,000 TEUS/y; the contract will run 10 years. Construction is slated to begin in March, with operations expected to begin by year-end. SAAM will invest some US$500,000 this year on the project.