Slight uplift for ICTSI in third quarter

Container volumes across the International Container Terminal Services, Inc. (ICTSI) terminal portfolio increased by 3% to 2.63m teu in the third quarter of the year, as trade grew following the end of initial lockdowns relating to the COVID-19 pandemic.

During the third quarter, revenue from port operations jumped by 7% to US$379m while net income leapt by 23% to US$69m.

Enrique K. Razon, Jr., ICTSI chairman and president, said: “I am pleased to report that our performance for the third quarter benefited from the cost preservation measures we took to mitigate the adverse effects of the pandemic.