Razon-led International Container Terminal Services Inc. (ICTSI), which is present in six continents, was recognized by an independent maritime research and consulting firm as one of the world’s top 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 (TEU) in 2020. That same year, GTOs handled 66 percent of the global port volume.
ICTSI said its consolidated throughput increased by 10 percent to 11.1 million TEUs in 2021 as mobility restrictions eased and as robust trading activity returned.
Drewry also recognized ICTSI as “the largest wholly-independent port operator with a presence across six continents.” The firm operates 33 terminals across 20 countries.
The Razon-led port operator has continued its expansion, including two new multipurpose terminals in Nigeria and Cameroon, despite business activities being hampered by the pandemic in the past years.
It also spent $250 million last year to further develop its flagship Manila International Container Terminal, Matadi Gateway Terminal in Congo and Victoria International Container Terminal in Australia.
In the first quarter, ICTSI saw its net income attributable to equity holders rise by 58 percent to $142.3 million from $90.1 million in the same period last year with the return of more trading activities.
Revenues from port operations grew by 21 percent to $528.3 million at end-March. This, as consolidated volume climbed by 5 percent to 2.83 million TEUs from 2.71 million TEUs a year ago.
It earmarked $330-million capital expenditures for its expansion plans this year.