ICTSI announces 3% first quarter growth

International Container Terminal Services, Inc (ICTSI) has announced growth in net income of US$54m for the first three-months of the year, up 3% on the same time last year.

The Philippines based port management company handled 1.98m teu during the first quarter, while revenue reached US$296.1m, up 19% on the same period last year.

ICTSI said: “The increase in volume was mainly due to the improvement in international and domestic trade in most of the company’s terminals, new shipping lines and services, continuing volume ramp-up in the company’s terminal operations in Mexico and Honduras.”