ICTSI - updates

Rappler's latest stories on ICTSI


Coronavirus sinks ICTSI's profits by 18% in Q1 2020, cuts capex by 60%

May 08, 2020 - 3:35 PM

ICTSI's profits drop as the coronavirus pandemic cripples global trade

Razon's ICTSI, Solaire start coronavirus mass testing for employees

Apr 27, 2020 - 3:15 PM

'Our employees are our number one asset. As we try to overcome this most difficult phase and [go] into the new normal, we do so without letting our guard down,' says tycoon Enrique Razon Jr

Food cargo stuck at Manila port due to coronavirus lockdown – ICTSI

Mar 30, 2020 - 1:55 PM

'Unfortunately, we have now come to a point where it is becoming impossible to operate in an efficient manner,' says Enrique Razon Jr's ICTSI

GSIS backpedals on planned sale of port property

Jul 04, 2019 - 5:30 PM

GSIS Chairman Rolando Macasaet says they revoked resolutions authorizing the sale of the 67-hectare property where ICTSI is operating

TIMELINE: GSIS, Enrique Razon's dispute over port property

Jul 04, 2019 - 4:15 PM

GSIS president Jesus Clint Aranas quits his post amid revived plans to sell the land where port tycoon Enrique Razon's ICTSI operates. Here is a timeline of events dating all the way back to the 1970s.

ICTSI makes move into Papua New Guinea

Sep 25, 2017 - 6:00 PM

The listed port operator enters the Oceania market as its subsidiaries sign deals to run international ports in Motukea and Lae

FRESH NICHE. ICTSI says its subsidiaries signed two 25-year agreements with state-owned PNG Ports Corporation Limited to operate international ports in Motukea and Lae. File photo

ICTSI buys Petron's stake in Manila North Harbor

Sep 22, 2017 - 12:45 PM

In a P1.75-billion deal, Petron divests from the Manila North Harbor to focus on its core business

NEW OWNER. ICTSI is entering into another port in Manila, widening its reach here in the country. File photo

Termination of Nigeria contract pulls ICTSI's income to over $100M

Aug 09, 2017 - 12:40 PM

The 24 surge in net income comes amid higher interest and financing charges as well as higher depreciation and amortization expenses

Razon-led ICTSI ends contract with Port of Portland

Mar 01, 2017 - 4:10 PM

ICTSI will pay the Port of Portland 11 45 million in compensation and return the equipment it bought when it took over management of the terminal in 2011

1ST US VENTURE. The Port of Portland lease is ICTSI’s first venture in the US and said to be the largest financial transaction in the history of the city's maritime port. Photo from ICTSI

ICTSI proposes $30M barge, RoRo terminal in Cavite

Dec 15, 2016 - 7:40 PM

Transshipping cargo from Manila s ports to Cavite via barge and RoRo equates to approximately 140 000 fewer truck trips plying city roads annually

DECONGEST MANILA PORTS. The proposed terminal will be located within a 6-hectare property in Tanza, Cavite. Rappler file photo

ICTSI's Razon gets subpoena over estafa complaint

Oct 02, 2016 - 7:45 PM

This stems from a criminal complaint of an E Razon Incorporated stockholder claiming P250 million worth of ICTSI shares

TROUBLE. About 28 million shares owned by Enrique Razon, Jr. in the listed port operator International Container Terminal Services Incorporated (ICTSI) is being questioned at a city prosecutor’s office. Rappler photo

ICTSI to open new port terminal in Congo in August

Jan 16, 2016 - 8:51 AM

The new terminal will be located in Matadi the chief sea port in Congo

NEW DEVELOPMENTS. Construction of ICTSI’s new Congo terminal is set to open for business in mid-2016. Photo from ICTSI

ICTSI raises $450M for 2015 capital spending

Aug 19, 2015 - 6:38 PM

The port operator raises the fund through the issuance of perpetual bonds

PORT EXPANSION. ICTSI's 2015 capital spending budget will be mainly used for completion of new container terminals in Mexico, Honduras and Iraq. File photo by Agence France-Presse AFP

Davao Sasa project attracts 5 investors

Jul 29, 2015 - 5:34 PM

San Miguel ICTSI and Singapore s Portek are among the 5 groups that want to bid for the Davao Sasa modernization project

NEEDED IMPROVEMENTS. A study shows that container traffic in Davao is seen to increase by at least 6% annually over the next 25 years. Photo from Wikipedia

ICTSI not keen on Davao Sasa seaport project

Apr 20, 2015 - 11:06 AM

We may not bid for that says ICTSI chairman Enrique Razon Jr when asked about the P17 B first seaport public private partnership project of the Aquino administration

PH port operator plans Africa expansion

Apr 16, 2015 - 9:45 PM

ICTSI Chairman Enrique Razon Jr says the firm is eyeing two ports in Africa as it continues its global expansion

Port congestion ‘completely over’ – Malacañang

Apr 13, 2015 - 4:25 PM

The congestion issue is resolved despite higher than normal volumes handled during the first quarter Malacañang says

Manila to host 15th Forbes Global CEO Conference in October

Mar 18, 2015 - 2:27 PM

It will be the first time for the country to host the annual gathering of the ‘world’s most economically powerful business people’

Port congestion fixed, Malacañang says

Mar 02, 2015 - 6:30 PM

The volume of cargo ship in and out of the seaports in the Philippines also grew faster in 2014 amid the congestion the Philippine Ports Authority reports

Manila ports less congested now, says ports agency

Feb 23, 2015 - 2:30 PM

The continued decline in the utilization level of the Manila ports is a clear manifestation of a healthy government and private sector partnership the Philippine Ports Authority chief says

ICTSI boosts Manila, Subic port capacities

Feb 20, 2015 - 8:27 PM

The port management firm adds 4 new generation reach stackers to its fleet to handle growing volumes in and out of Luzon

The port management firm adds 4 new efficient generation stackers to its fleet

DOTC proposes scheduling system for importers

Nov 18, 2014 - 12:54 PM

DOTC suggests that importers follow a schedule on when to transact business at the ports of Manila

HIGH PRIORITY. President Benigno Aquino III convenes a Cabinet cluster to solve the worsening problem of port congestion in Manila. File photo from the ICTSI website

Razon: Manila more 'cool, interesting' than HK, Singapore

Oct 29, 2014 - 7:08 PM

Enrique Razon who heads Solaire Resort and Casino in the Philippines foresees gaming in all countries in Asia in the future but touts his country for its cool factor

COOL MANILA. Enrique Razon touts the city as more interesting than other cities in the region. Photo from Forbes

Singson to importers: Move cargos on weekends

Oct 13, 2014 - 7:40 PM

Public Works Secretary Rogelio Singson laments that many importers do not take advantage of the ports on weekends when traffic is lighter

File photo of DPWH Secretary Rogelio Singson

ICTSI partners with French group for Nigerian port project

Jan 27, 2014 - 5:45 PM

Once completed the Lagos port will be the single largest terminal in sub Sahran Africa


ICTSI to set up $100 million terminal in DR Congo

Jan 24, 2014 - 8:22 PM

International Container Terminal Services Inc ICTSI is setting up a 100 million terminal in the Democratic Republic of Congo

ARBITRATION. ICTSI goes to London court for dispute with lessor in Georgia. File photo by AFP

ICTSI, Shell pitch in to help Tacloban port

Dec 02, 2013 - 9:18 PM

The two companies are stepping up to help operate the port of Tacloban

MOBILE HARBOR CRANE. ICTSI will be using this crane to load and offload goods in the Port of Tacloban. Photo from ICTSI press release

Govt awards P16-M contract for Batangas port study

Sep 23, 2013 - 5:36 PM

The Philippine Ports Authority taps a joint venture to study how to maximize use of the Batangas port as part of efforts to decongest the Port of Manila

UNDER STUDY. A study is set to assess how the Batangas port can be fully utilized for Manila port's sake. AFP Photo

ICTSI initiates arbitration case vs Georgia lessor

Jul 05, 2013 - 4:35 PM

A unit of homegrown port operator giant ICTSI initiates arbitration proceedings before the London Court of International Arbitration against its lessor in Georgia

ARBITRATION. ICTSI goes to London court for dispute with lessor in Georgia. File photo by AFP

Razon's ICTSI shortlisted for Melbourne port project

May 17, 2013 - 5:13 PM

International Container Terminal Services Inc of port and casino magnate Enrique Razon Jr has been shortlisted to build and operate a 1 6 billion container terminal project in Melbourne

SHORTLISTED. Razon-led ICTSI is among 5 groups that will bid for a container terminal project in Melbourne. Photo by AFP

Razon-led ITCSI eyes more overseas acquisitions

Apr 18, 2013 - 8:47 PM

The port operator is looking at investment opportunities in Europe US Africa Middle East and Asia

EXPANDING ABROAD. ICTSI is looking at investment opportunities in Myanmar, Cambodia and Vietnam. Photo by AFP

Razon-led ICTSI bags Honduras port contract

Mar 22, 2013 - 4:06 PM

Homegrown port giant ICTSI won a a 30 year contract to operate and maintain a container and cargo terminal of Puerto Cortes in Honduras

PORT BUSINESS. The international portfolio of ICTSI is growing. Photo by AFP

Razon-led ICTSI says profit up on higher port revenues

Mar 11, 2013 - 9:20 PM

The global port operator books a net income of 144 million in 2012 up 10 year on year

BETTER INCOME. ICTSI says growth is driven by strong port revenues. Photo by AFP

11 Filipinos among world billionaires

Mar 04, 2013 - 10:38 PM

Eleven Filipino billionaires make it to the Forbes 2013 list of world billionaires

Ayala, Sy, Gokongwei to join Aquino in US, UK trips

Jun 04, 2012 - 8:27 PM

About 26 top Filipino businessmen are part of the delegation that will accompany President Aquino in his visits to the United Kingdom and United States from June 4 to 10

Razon-led ICTSI to acquire 35% of Pakistan port

Apr 02, 2012 - 4:35 PM

Enrique Razon led International Container Terminal Services Inc ICTSI signed a share purchase agreement to acquire 35 of a container cargo terminal in Pakistan s main port of Karachi