ICTSI sees profit increase by 7% as volumes rise to over 6m teu

International Container Terminal Services, Inc. (ICTSI) saw its profit increase by 7% to US$313.8m for H1 2023 as the operator’s expanded global portfolio helped container volumes to grow by 9%.

Revenue also rose by 10% to US$1.2bn due to the contribution of Manila North Harbour Port, Inc. (MNHPI), new businesses at IRB Logistica in Brazil as well as volume growth, tariff adjustments and high revenues from ancillary services and general cargo business at certain terminals.

The appreciation of the Mexican Peso and Iraqi Dinar-based revenues at Contecon Manzanillo S.A. (CMSA) and Basra Gateway Terminal (BGT) also positively impacted revenue.