Papua New Guinea terminals and new services help boost ICTSI’s Q3 results
International Container Terminal Services Inc. (ICTSI) has reported a 10% year-on-year increase in revenue from port operations for the first nine months of 2019 to US$1.1bn as throughput grew by 6% to 7.6m teu in the same period.
The increase in volume was mainly attributed to continuing ramp-up at ICTSI’s new terminals in Lae and Motukea in Papua New Guinea and improvement in trade activities in Subic, Philippines, Matadi, Democratic Republic of Congo and Basra, Iraq.
New contracts with shipping lines and services at its Victoria International Container Terminal (VICT) in Melbourne, Australia, Baltic Container Terminal (BCT) in Gdynia, Poland, Adriatic Gate Container Terminal (AGCT) in Rijeka, Croatia and Contecon Manzanillo in Mexico also helped boost volumes.
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