International Container Terminal Services Inc. (ICTSI) has been named a leading fully independent global terminal operator (GTO) with a portfolio spanning all six continents, according to independent maritime research and consulting firm Drewry.
The Razon-led Philippine company currently operates 33 terminals in 20 countries, mostly in emerging markets, making it “a true Philippine economic multinational company moving know-how, investment, goods, people and technology across borders.”
Apart from this mention, Drewry also ranked ICTSI 8th among GTOs in terms of net worth in twenty-foot equivalent units (TEU) based on a consolidated 10.1 million TEUs handled in 2020.
In 2020, GTO accounted for 66 percent of global port volumes. ICTSI’s consolidated throughput increased by 10 percent to 11.1 million TEU in 2021, driven by market opening and improved trade.
Despite the slowdown in global trade over the past two years due to the Covid-19 pandemic, ICTSI has continued to expand its operations by adding two new multi-purpose terminals in Nigeria and Cameroon, as well as expanding existing operations in Rio de Janeiro, Brazil.
According to ICTSI, its ongoing expansion is “based on its core strategy of acquiring and developing new small and medium sized terminals through public partnerships while maintaining a majority stake in all of its global operations.”
“ICTSI prides itself on being an independent stevedoring company, unaffiliated with shipping lines, state-owned enterprises and other major industry stakeholders. Compared to hybrid operators, the independent nature of ICTSI allows it to create value for its terminals by increasing efficiency through the implementation of best trademark practices,” the company said in a statement.
The company added that it recognizes the complex role of ports in developing the economies and communities in which it operates, citing operations in Papua New Guinea, Australia and Ecuador, to name but a few.
Image credits: www.ictsi.com