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Media
MANILA's International Container Terminal Services Inc (ICTSI) has reported a net profit increase of 25 per cent year on year of US$28.5 million in the first quarter of 2011, drawn on revenue of $154.9 million, gains attributed to international trade recovery.
Volume increased 1.2 million TEU, up 22 per cent increase year on year. This was attributed to global economic recovery, particularly where ICTSI terminals are located, plus extra volume generated from the company's new terminal in Portland, Oregon.
During the first quarter its container terminal operations in Asia increased 13 per cent to 687,196 TEU, making up 59 per cent of consolidated volume. Exceptional volume growth was noted at Yantai Rising Dragon International Container Terminal Ltd in Yantai, China (up 51 per cent); Mindanao International Container Terminal Services Inc in Cagayan de Oro, southern Philippines (up 36 per cent) and Davao Integrated Port and Stevedoring Services Corp (DIPPSCOR) in Davao, southern Philippines (up 34 per cent).
In the Americas, volume grew 46 per cent year on year with Latin America showing 39 per cent growth at the Contecon Guayaquil and Tecon Suape terminals in north eastern Brazil, where volume rose 29 per cent. The region benefited from volume generated by the newly acquired terminal in Portland from the beginning of the year.
In the Europe, Middle East and Africa (EMEA) segment, regional winners included Georgia's Batumi International Container Terminal in Batumi (up 294 per cent), Baltic Container Terminal (BCT) in Gdynia, Poland (up 25 per cent), and Syria's Tartous International Container Terminal (up 11 per cent).
In addition, gross revenue contribution from the group's six key terminal operations in the Manila, Brazil, Poland, Ecuador, Madagascar and China increased 25 per cent and accounted for 89 per cent of the group's revenue for the quarter.
ICTSI is involved in the operations and development of 23 marine terminals and port projects in 17 countries.
(Source:http://www.schednet.com)
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