ICTSI sells Naha stake

International Container Terminal Services, Inc. (ICTSI) has announced the sale of its entire stake in Naha International Container Terminal Inc. (NICTI), as part of a JPY105.3m (US$884,520) deal.

ICTSI sold 90,000 shares or a 60% stake in NICTI, which operates the Naha container terminal on the Japanese island of Okinawa. The remaining 40% share is owned by six local harbour transportation companies.

The 10-year lease agreement for NICTI, granted by Naha Port Authority, which allowed the Philippines-based company to operate Terminals 9 and 10, will expire at the end of 2015.