ICTSI CEO calls out Maersk for conspiring against Durban joint venture

International Container Terminal Services, Inc.’s (ICTSI) chairman and CEO Enrique K. Razon Jr. has accused Danish shipping line Maersk of conspiring to delay the commencement of a concession contract between ICTSI and South Africa’s state-owned port operator Transnet.

In July last year, Transnet awarded the 25-year joint venture to develop Durban Container Terminal (DCT) Pier 2 to ICTSI, aiming to reposition the terminal for best practice performance and to grow throughput.

Maersk, via its subsidiary APM Terminals (APMT), had brought the matter to a South African court and challenged Transnet’s decision to award the contract to ICTSI, claiming that ICTSI failed to satisfy a key requirement regarding solvency evaluation.