International Container Terminal Services Inc. (ICTSI), led by Razon, which operates on six continents, has been recognized by an independent maritime research and advisory firm as one of the world’s leading maritime port operators.
In Drewry’s Global Container Terminal Operators Annual Review and Forecast for 2021-2022, ICTSI ranked 8th among global terminal operators (GTOs) for handling 10.1 million twenty-foot equivalent units (TEUs) in 2020. In the same year, GTOs managed 66% of the people in Global Port Volume.
ICTSI said its consolidated throughput increased 10% to 11.1 million TEUs in 2021 as mobility restrictions eased and commercial activity resumed.
Drewry also recognized ICTSI as “the largest fully independent port operator with a presence on six continents”. The company operates 33 terminals in 20 countries.
The Razon-led port operator has continued to expand, including with two new multi-purpose terminals in Nigeria and Cameroon, despite business operations hampered by the pandemic in recent years.
It also spent $250 million last year to further develop its flagship international container terminal in Manila, Matadi Gateway Terminal in Congo and Victoria International Container Terminal in Australia.
In the first quarter, ICTSI saw its net profit attributable to shareholders increase by 58% to $142.3 million, compared to $90.1 million in the same period last year, with the return of more activities of negotiation.
Revenue from port operations rose 21% to $528.3 million at the end of March. This, while the consolidated volume increased by 5% to 2.83 million TEUs against 2.71 million TEUs a year ago.
It has planned capital expenditures of $330 million for its expansion plans this year.
Source: Company Investigator