Filter content by area of interest
Ports & Terminals
Port AuthoritiesContainerBulkBreakbulk/General CargoRo-Ro/AutomotiveGTOs
Cargo Handling Equipment
STS CranesYard CranesMobile CHERo-Ro EquipmentBreakbulk EquipmentLow ThroughputBulk Handling Equipment
Shipping & Logistics
Container ShippingBreakbulk/General CargoRo-Ro ShippingDry Bulk ShippingLiquid cargoesLogistics
ICT
TOSPlanning & Optimisation TechnologyWiFiMobile ComputingPort Community SystemsAsset Tracking & Monitoring
Automation
Automated EquipmentGate AutomationRemote ControlProcess Automation
Multimodal
RailInland WaterwaysShortsea ShippingRoadAir-Cargo
Container Industry
Container manufactureContainer leasingRepair/StorageTradingConversion/Innovation
Refrigeration
Operations/TransportContainer leasingEquipmentM&R/Storage
Breakbulk
General cargoProject Cargo/Heavy LiftForest productsRo-Ro/AutomotiveAgribulks
Safety & Security
InsuranceHazardous cargoLashings/SecuringLegal/Regulatory
Civil Engineering
Port & terminal construction/designCivil & Consulting EngineersDredging & ReclamationMooring & FenderingLightingPaving & Surfacing
Environment
Business
InsuranceLegal/RegulatoryAppointments/PeopleMergers/Acquisitions/RestructuringFinance/Financial ResultsTrade & Professional AssociationsBusiness/Commerce Miscellaneous
 View all Topics View all Topics A-Z
More View all Topics View all Topics A-Z

You are viewing 1 of your 1 guest articles


register  or  login  for full access to online news

ICTSI's global throughput grew 6% to 7.6M TEU in 1Q-3Q 2019

Net income was up 29% to US$184.9M in the first nine months of this year, revenues increased 10% to US$1,107.3M and EBITDA was 14% higher at US$624.3M

Linked InTwitterFacebookeCard

Enrique K Razon, Jr, Chairman and President of ICTSI said: “ICTSI has continued to deliver strong financial performance driven by organic volume growth, diligent cost management, and the continued ramp up of newer terminals. Positive progress has been made across the business which in part has been enabled by the prudent investments we make in our brownfield terminals.

 

“While we remain conscious of the current geopolitical trade tensions, we are well-positioned to deliver value for all our stakeholders.”

 

ICTSI handled consolidated volume of 7,590,090 TEU in the first nine months of 2019, 6% more than the 7,152,392 TEU handled in the same period in 2018. The increase in volume was mainly due to continuing ramp-up at ICTSI’s new terminals in Lae and Motukea in Papua New Guinea; improvement in trade activities in Subic, Philippines, Matadi, Democratic Republic of Congo and Basra, Iraq; new contracts with shipping lines and services at Victoria International Container Terminal (VICT) in Melbourne, Australia, Baltic Container Terminal (BCT) in Gdynia Poland, Adriatic Gate Container Terminal (AGCT) in Rijeka, Croatia and Contecon Manzanillo S.A. (CMSA) in Manzanillo, Mexico.

 

For the quarter ended September 30, 2019, total consolidated throughput was five percent higher at 2,548,175 TEU compared to 2,438,137 TEU in 2018.

The new berths at Basra Gateway Terminal can accommodate vessels up to 14,000 TEU
The new berths at Basra Gateway Terminal can accommodate vessels up to 14,000 TEU

ICTSI has formally inaugurated two new berths at Basra Gateway Terminal (BGT). For the first time the port of Umm Qasr, Iraq’s main dry cargo port, has the ability to handle container vessels of up to 14,000 TEU.

 

The inauguration ceremony marked both the opening for business of the two new berths, Berths 25 and 26, and the completion of ICTSI’s overall US$250M investment programme.

 

Design depth alongside Berths 25 and 26 is 14M and between them 25-27 provide a contiguous quay length of 600m. The new berths are equipped with 56m outreach STS cranes able to reach 21 rows across.

 

BGT already receives direct calls from a number of shipping lines, but traditionally these vessels have not been fully utilised due to draft limitations. The latest berth development removes this limitation and, says ICTSI, encourages other shipping lines to introduce larger vessels with the resulting cost and efficiency benefits passing directly to cargo owners.

Linked InTwitterFacebookeCard

You may also be interested in...

Hutchison raises rail questions

Crowley selects XVELA

Sails for rockets

CMP/DFDS plug-in

Shore power push in Germany

Tracking in Algeria

Related Stories

Big fall in SA export container tariff

The Ports Regulator of South Africa (PRSA) has announced tariff changes for 2020...

Paceco Portainer for Fos

A 67m outreach, 50m lift height Portainer has been commissioned by Paceco Moment...

ABP Ipswich welcomes Metsä Wood shipment

The Port of Ipswich has celebrated a new milestone in its partnership with Metsä...
Linked In
Twitter