ICTSI named top independent terminal operator
INTERNATIONAL Container Terminal services Inc. (ICTSI) was named as the top wholly independent global terminal operator (GTO) with a portfolio that spans all six continents, according to independent maritime research and consulting firm Drewry.
The Razon-led Filipino company currently operates 33 terminals in 20 countries, mostly in emerging markets, making it a “true Philippine economic transnational, moving knowhow, investments, goods, people and technology across borders.”
Aside from this citation, Drewry also ranked ICTSI 8th among Gtos in terms of equity twenty-foot equivalent units (Teus) based on the consolidated 10.1 million Teus it handled in 2020.
Gtos handled mostly 66 percent of the global port volumes in 2020. ICTSI’S consolidated throughput in 2021 increased 10 percent to 11.1 million Teus, owing to the reopening of markets and improvements in trade.
Despite the slowdown of global trade during the past two years due to the Covid-19 pandemic, ICTSI continued to expand its operations with the addition of two new multipurpose terminals in Nigeria and Cameroon, while expanding its existing operation in Rio de Janeiro, Brazil.
According to ICTSI, its continued expansion is “anchored on its core strategy of acquisitions and greenfield developments of small- to medium-sized terminals through government partnerships while maintaining majority ownership across its global operations.”
“ICTSI takes pride in being an independent stevedore with no ties to shipping lines, state-owned enterprises, and other major industry stakeholders. Compared to hybrid operators, ICTSI’S independent nature allows it to create value across its terminals by improving efficiency through the implementation of trademark best practices,” the company said.
The company added that it recognizes the complex role of ports in the development of economies and communities where it operates, citing operations in Papua New Guinea, Australia, and Ecuador, to name a few.