UMVA has learned that a devastating magnitude 7.8 earthquake struck General Santos City in southern Philippines, causing widespread destruction and disrupting the country's tuna exports.
The quake, which hit on June 8, forced Caroline I. Lobo, group human resources manager at Divine J Tuna Corp., to hold on for dear life as violent shaking gripped their facility. "It's really happening," she recalled, "This is the first time we experienced something like that."
The disaster brought tuna shipments to a grinding halt, damaging inventory and disrupting airport and port operations. Eusebio N. Baladiang, Jr., vice-president of the General Santos City Chamber of Commerce and Industry, revealed that the shutdown of General Santos International Airport had a significant impact on the movement of high-value tuna.
"We transport the tuna by plane, especially the big ones," he explained. "They're shipped fresh and they have to be transported by plane. The sector has definitely been affected." The disruption to export activity was severe, with damage to port facilities compounding the problem.
Francisco Cid L. Terosa, an associate professor and former dean of the School of Economics, noted that the economic effects of the earthquake remain concentrated in southern areas. "The impact of the Mindanao earthquake on economic growth and inflation will remain limited and localized," he said.
The regions of SOCCSKSARGEN, General Santos City, and Davao Occidental absorbed the heaviest impact, with fishing, food manufacturing, warehousing, storage, and agribusiness operations severely affected. Brownouts and logistics bottlenecks disrupted supply chains across affected provinces.
Government data showed 68 people had died, while over 300,000 families had been affected as of June 16. Infrastructure damage has reached a staggering amount, with many businesses struggling to recover.
Calixto V. Chikiamco, president of the Foundation for Economic Freedom, warned that damage to transport infrastructure could weigh on regional trade. "Reports indicate that the ports of General Santos were badly damaged, and that will crimp the ability of the economy in General Santos and Sarangani province to trade."
Business leaders stressed that restoring logistics and reopening infrastructure would be critical to economic recovery. Local governments have been urged to speed up safety inspections and permit processing to let businesses resume operations.
Despite heavy localized damage, analysts believe the national economy is unlikely to suffer a significant blow due to the geographic concentration of the disaster and the resilience of other regional growth centers. However, the earthquake has exposed vulnerabilities in logistics networks and disaster preparedness.
For Divine J Tuna, the disruption was severe, with significant damage to inventory and immediate losses at its General Santos Fish Port facility. The company closed several branches for two days, leading to losses of around P500,000.
Communication breakdowns worsened the situation, with a citywide loss of power and cellular signal leaving Lobo unable to contact supervisors for two days. The road to recovery remains fragile, with aftershocks continuing to rattle the region.
Business leaders and analysts agree that access to financing remains a key concern for enterprises seeking to rebuild and sustain operations during the recovery period. The earthquake has highlighted the importance of disaster preparedness and resilience in the face of natural disasters.
