Tycoon Enrique Razon Jr.’s International Container Terminal Services Inc. (ICTSI) said its Manila operations hit a new record in 2016, triggering plans to expand capacity.
ICTSI, which operates container terminals around the world, said operations in Manila International Container Terminal (MICT) hit 2-million twenty-foot equivalent units (TEU), an event it dubbed as a “milestone.”
ICTSI has an annual capacity of 2.75-million TEUs. The previous milestone was in 2002, when it hit 1-million TEUs.
The figures, which signaled robust trade, mattered since ICTSI said it was now poised to expand MICT.
“The 2-million milestone also triggers a multi-billion peso capacity improvement commitment with the Philippine Ports Authority that requires ICTSI to commission five additional post-Panamax quay cranes along with corresponding yard equipment, and build at least another berth by 2019,” ICTSI said on Monday.
Terminal utilization at the MICT has significantly improved since the completion of Yard 7 late in Nov. 2015. Yard 7, which is part of MICT’s P5-billion expansion project, increased the terminal’s capacity by 18 percent from 2.5 million.
ICTSI also credited the Terminal Appointment Booking System (TABS), an online container booking platform, which significantly improved and optimized the flow of trucks in and out of the terminal beginning October 2015.
“As the gateway to the Philippine market, MICT consistently seeks to improve our operational efficiency to ensure fast and uninterrupted flow of trade in and out of the port,” Christian Gonzalez, ICTSI senior vice president and regional head of Asia-Pacific and MICT, said in a statement.
ICTSI earlier revealed plans to help ease the flow of goods going through Metro Manila and nearby provinces, including an intermodal link between its Manila and Laguna terminals. It also submitted a $30 million proposal to build the Cavite Gateway Terminal (CGT).