ICTSI’s consolidated throughput rises 9% in Q1 2023
International Container Terminal Services, Inc. (ICTSI)’s gross revenue from port operations increased by 8% year-on-year in Q1 2023 as it handled a consolidated volume of 3.1m teu, up 9% compared to the same period in 2022.
The increase in container volume was primarily attributed to the contribution of Manila North Harbour Port, Inc, (MNHPI), in Manila, Philippines, which was consolidated starting September 2022, along with volume growth and new shipping lines and services at certain terminals.
Although the increase was tapered by the cessation of cargo handling operations at PT Makassar Terminal Services (PT MKS) in Indonesia, and Davao Integrated Port and Stevedoring Services Corporation (DIPSSCOR) in the Philippines and a decline in trade at certain terminals.
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