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LSC net income jumps 458 percent to P62.4M

LSC emerged best among CCBPI's Supply Chain Management Service Providers

LSC net income jumps 458 percent to P62.4M

  Lorenzo Shipping Corporation registered a remarkable 458 percent increase in net income to P62.4 million in 2012 compared to P11.1 million in 2011, helped by increased freight revenues.

  The domestic inter-island cargo liner recorded a 6.7 percent increase in freight revenue brought by higher container volume and the effect of 50 percent increase in bunker surcharge implemented last year. Freight revenue during the year was at P1.84 billion.

  In 2012, LSC acquired a 10- year old vessel with a capacity of 408 TEUs, amounting to P232 million. The shipping line also acquired 700 container vans worth approximately P83.3 million.

  In the same year, it sold one of its old vessels MV Lorcon Davao.

  Terminal expenses decreased by 8.25 percent substantially due to lower cargo handling and delivery costs. Other Income (Charges) registered a decrease of 148 percent substantially due to the loss on sale of MV Lorcon Davao.

  LSC is one of the key players in the domestic containerized cargo shipping industry.

  It owns and operates a fleet of seven vessels namely M/V Lorcon Visayas, M/V Lorcon Cebu , M/V Lorcon Manila, M/V Lorcon General Santos , M/V Lorcon Cagayan De Oro, M/V Lorcon Zamboanga and M/V Lorcon Dumaguete.

  The company’s vessels which have capacity ranging from 200 TEUs to 426 TEUs and speed of 11 knots to 15 knots, are deployed in key ports in Manila, Visayas and Mindanao.

  LSC markets its services through a network of branches such as Cebu, Davao, General Santos, Cotabato, Iloilo, Cagayan and three agencies; Zamboanga, Dumaguete and Bacolod. Manila.

  LSC owns various equipment and facilities to efficiently handle customer’s cargoes including land-based equipment such as forklifts, toplifts and trucks and container yards and warehouses in its branches and agencies.

  The shipping company provides 20-foot and 40-foot dry containers to its customers in which they can load their cargoes to various ports.

  It also carries rolling cargoes such as heavy equipment, trucks and vehicles as well as uncontainerized cargoes such as steel products and bridging materials. Livestock cargoes are also carried by LSC using special vans.

  Its business focus has evolved from that of being a break-bulk cargo carrier to a fully containerized cargo shipping company.

  The company owns and operates vessels with which it provides domestic inter-island cargo liner services to the general public.

  LSC competes with other containerized cargo shipping companies such as 2GO Group, Sulpicio Lines Inc., Solid Shipping Inc., NMC Container Lines, Inc. (NMCCLI) and Oceanic Container Lines, Inc.

  2GO carries both passenger and cargo while Solid Shipping, Oceanic and NMCCLI are purely cargo carriers.

Source :

LSC emerged best among CCBPI's Supply Chain Management Service Providers

  Lorenzo Shipping Corporation (LSC) was a stand-out during the 1st Coca-Cola Supplier Relationship Management Summit conducted at Shangri-La Mactan, Cebu last August 26, 2010, as it bagged the Gold Award for Quality, Service and Cost Efficiency. From a roster of CCBPI's supply chain management service providers not only in the Philippines but of other Asia-Pacific countries as well, LSC managed to excel through its sophisticated methods of handling CCBPI door-to-door deliveries throughout the Philippines, improved sailing frequency, availability of containers and trucks and on-time monitoring and reporting of cargo movements. With this recognition, LSC commits to continuous improvement, geared up to support CCBPI's 2020 Vision.