ICTSI records strong half-year

International Container Terminal Services, Inc. (ICTSI) registered record volumes and financial results in its half-year figures, citing the performances of new terminals in Australia and Papua New Guinea.

The new terminals in Lae and Motukea in Papua New Guinea and Melbourne, Australia contributed toward the 4% year-on-year throughput growth, which rose to 4.71m teu. Growth in emerging markets was also a factor in the increase.

Gross revenues increased 10% to US$661.8m with the Filipino operator attributing the rise to volume growth, new contracts with shipping lines and an increase in non-containerised cargoes, storage and ancillary services. Without the new terminals, consolidated gross revenues increased by 6%.