Globalport 900 (PORT) – Possible Oil Logistics Play (?)
PORT exhibited growth for 2013 and it is not just full year recognition of earnings. See chart below:
*2012 earnings of 252 million is the consolidated earnings assuming full year consolidation in 2012
PORT managed to generate earnings more than 2012 earnings as early as the third quarter of 2013 because of high revenues and improving margins.
However, things may be different for PORT when Manila Mayor Joseph Estrada announced on April 2, 2014 that the three oil firms should relocate from Pandacan. 
HCPTI and MNHPI are located in Manila Bay.
The Pandacan oil depot relocation debacle stretches way back 2001.  On November 30, 2010, Petron Corporation (PCOR) filed a manifestation informing the Supreme Court (SC) that it had decided to cease operation of its petroleum product storage facilities in Pandacan within five (5) years or not…
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Entry filed under: Phisix's Closet (PSEi).