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ICTSI assures sustainable port operations

Monday, 07 October 2019 | 00:00

International Container Terminal Services Inc. (ICTSI) of tycoon Enrique Razon has assured sustainable operations of its gateway ports amid global headwinds.

With 32 ports in 18 countries across the globe, ICTSI guaranteed the unimpeded mobility of cargo by ensuring that its gateway ports, a key channel in economic growth, provide the best service.

“Amid global headwinds, the diversity of the ICTSI Group’s portfolio and our strategy to make all our ports drivers of positive and sustainable growth have been key to delivering strong performance,” ICTSI global corporate head Christian Gonzalez said.

Known for its strategy of investing in emerging markets, ICTSI has helped governments worldwide modernize port assets with investments in infrastructure, equipment and technology.

In the Philippines, ICTSI operates 10 ports, including flagship Manila International Container Terminal, that serves as the company’s benchmark in implementing improvements in its ports worldwide.

Connectivity and synergies are being implemented in its ports in the country to provide a more seamless and integrated mode of cargo transport.

ICTSI recently joined 11 other companies in the Philippines, and 153 companies in the region, that were recognized at the yearly Asia Outstanding Companies Poll for excellence in financial performance, management team excellence, investor relations, and corporate social responsibility initiatives.

Asiamoney, part of the London-based Euromoney Institutional Investor group, recognized ICTSI as the Philippines’ most outstanding company in the transportation sector at the 2019 Asia Outstanding Companies Poll.

ICTSI chairman and president Enrique Razon earlier said the company’s business remains relatively unscathed by current geopolitical headwinds, but it remains vigilant and continue to monitor the situation closely.

The firm finished the first semester with earnings rising 42 percent year-on-year to $128.5 million.

Gross revenues from port operations jumped 14 percent to $751.8 million, driven by volume growth, tariff adjustments for certain services at multiple terminals, and new contracts with shipping lines and services, among others.

Consolidated volume reached 5.041 million twenty-foot equivalent units (TEUs), up seven percent year-on-year.
Source: Philstar

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