The ORIENTAL PORT AND ALLIED SERVICES CORPORATION (OPASCOR) is a domestic corporation registered with the Securities and Exchange Commission (SEC). The Company primarily engages in stevedoring, arrastre and other port cargo handling Services.

      OPASCOR was established in 1990 when then President Aquino announces the privatization of the Cebu Port Operations of the National Stevedoring and Lighterage Corporation (CPO-NSLC), consistent with the thrust of her administration to privatize non-performing government owned and controlled corporations. The privatization program draws the interest of the employees of CPO-NSLC who dreamed of creating a workers’ enterprise. After a span of three and a half years, the workers successfully convinced the government of their desire to own, manage and operate the business that they’ve been working for since pre-war period. The unique buy-out scheme involves the pooling of separation and retirement benefits of the employees which were used to buy the assets of CPO-NSLC. On June 16, 1990, OPASCOR formally took over the operations at the Cebu International Port (CIP) and was presented to the business community as the first cargo handler to be fully owned and operated by its workers.

      OPASCOR was a struggling company then with a meager capital when it started operation in 1990. When it brought NSLC, the latter had mostly aged equipage, which were not adequate to provide efficient services at the CIP. In order to meet the demand for higher productivity, OPASCOR undertook an equipment modernization program and acquired several modern cargo handling equipments. In 1996, OPASCOR prides itself for being the first cargo handler outside Manila to have acquired ship-to-shore Gantry Quay cranes and Rubber-Tyred Gantry cranes for its containerized operation. To date, with its recent acquisition, OPASCOR has a total of 3 gantry quay cranes.

      The modernization in the port operation of OPASCOR, which triggers a remarkable increase in the productivity levels and reduced vessels' port time, attracted foreign shipping lines and agents. At present, OPASCOR is servicing several foreign vessels that call regularly at the CIP, giving Cebu based shippers a lot of savings by cutting off the conventional way of exporting and importing cargoes via the ports of Manila.

BUSINESS AND ACQUISITIONS

      OPASCOR operates two-thirds of the 12-hectare facility of the CIP, occupying two berths out of an approximately 600 meters quay length composing the international port located on the north side of reclaimed area in Metro Cebu. The company is engaged principally in arrastre and stevedoring for foreign cargoes. It offers ancillary services such as stripping and stuffing, bagging of bulk cargo, lift on lift-off, hustling, checkering, warehousing and terminal management. The company likewise engages in trailers rental, tug and barging services, ship repair and maintenance, steel and shop fabrication, and other various vessel attendance activities.

      OPASCOR earned revenues of P51 million in years 1991 (first full year of operation) with a net income before tax amounting to P2.4 million. A portion of the company’s income was invested in a port cargo-handling company located in Cagayan de Oro City, namely, Continental Arrastre and Stevedoring Company, Inc. (CASCO). Said investment was aimed at linking the Port of Cagayan de Oro with the Port of Cebu. CASCO is now an affiliated company of OPASCOR.

      To improve its services at CIP and achieve productivity levels comparable with those of dominant terminal operators in the country and regions, OPASCOR invested more then P100 million in capital equipment in years 1996 and 1997 enhanced its competitiveness at CIP. To date, OPASCOR equipment inventory include, among other:

            - 3 units of 35-toner gantry cranes
            - 10 units of 35-toner RTG
            - 1 unit of reach stacker with 20-45 footer telescopic spread
            - 15 units of forklifts of 3 to 20 toner capacities
            - 26 units of trailers of 20 to 40 footer capacities
            - 24 units of prime movers
            - 2 units TCM B50 Payloaders

      OPASCOR is considered one of the most efficient port terminals in the country. With its port equipment inventory, it has a productivity level of 25 boxes per hour per crane on container operation. By assimilating technological approaches, OPASCOR has been able to compete with leading terminal operators in the country. It has constantly been tooling and retooling resources and strategies, insuring that propelled growth is sustained and responsive to port stakeholders and domestic economies.


VISION

OPASCOR envisions –
1. To become a world-class, highly diversified and integrated cargo handling service provider for the port of Cebu and the region.
2. To promote world-class quality service instituting strategic alliances and a culture of responsiveness to the changing and intrinsic demands of port stakeholders and business partners
3. To evolve the workers’ enterprise as a reputable, reliable and productive organization contributing steadfastly to national goals of peace, order and prosperity
4. To improve the quality of life of its workers in secured work tenures while imbibing God-centered spirituality


MISSION

OPASCOR carries on a mission -
1. Of becoming an exemplary worker’s enterprise, promoting industrial peace and actively contributing to economic growth
2. Of sustaining strong and persistent entrepreneurial growth inspiring worker-owners to pass on the fruits of the labor to succeeding generations.