New projects bolster ICTSI throughput but hit profit

Container volumes handled by International Container Terminal Services, Inc. (ICTSI) jumped by 10% in the first half of 2016 although this did not stop net income from falling 13%.

The rise in volumes to 4.26m teu was mainly due to the continuing ramp-up at ICTSI Iraq and new shipping line customers and services at the firm’s terminals in Guayaquil, Manzanillo, Karachi and Jakarta.

An improvement in trade activities at most of ICTSI’s Asian terminals also played a part, noted a company statement.