Poro Point Management Corp (PPMC), a subsidiary of Bases Conversion and Development Authority (BCDA) will now manage San Fernando Seaport in La Union in an interim basis following the expiration of the lease contract by its previous operator.
The lease contract of the previous operator, Poro Point Industrial Corp., (PPIC) expired on October 31, 2024. PPIC had signified its intent to cease operations.
BCDA President and CEO Joshua M. Bingcang and PPMC President and CEO Felix S. Racadio signed a memorandum of agreement (MOA) granting PPMC interim operational control over the seaport, and ensuring the continuity of operations and provision of services in the seaport 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,” PCEO 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.”
PPIC was formed by the BCDA, PPMC, and Bulk Handlers Inc. (BHI) in 1999 to manage the San Fernando Seaport. Prior to the expiration of PPIC’s lease, BCDA offered the company a three-month holdover authority to ensure uninterrupted operations of the seaport while it is preparing for a competitive bidding for a new operator. However, 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 November 6, 2024. This MOA formalizes this interim arrangement until a new operator is selected.
“With the trust that the BCDA has given us, PPMC assures that it will perform our task of managing the seaport well,” Racadio said.
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.
Formerly known as the US Wallace Air Station, the 236.5-hectare Poro Point Special Economic and Freeport Zone is being positioned as a vibrant tourism and investment destination to drive growth in La Union and Northern Luzon. It has also contributed to La Union’s transport and logistics sector through its own airport and international seaport.
