INTERNATIONAL Container Terminal Services, Inc. (ICTSI) said its units have signed agreements with Papua New Guinea Maritime Transport Workers Union (PNG MTWU), ahead of the opening of its Motukea International Terminal in Port Moresby, Papua New Guinea in May.
ICTSI South Pacific’s subsidiaries Motukea International Terminal Ltd. (MITL) and South Pacific International Container Terminal Ltd. (SPICTL) have inked the implementation agreements with the labor union.
“These agreements provide that SPICTL and MITL will carry out all the provisions of both the ‘PNG National Stevedoring & Handling Workers’ Industrial Agreement of 2016’ and the ‘PNG Other Maritime Workers’ Industrial Agreement of 2016,’” the company said.
In March, ICTSI South Pacific signed agreements with the Noho-Magae organization, which represents the Baruni and Tatana communities, that would allow the latter to become shareholders of the MITL.
MITL will handle all international container and general, non-bulk cargo vessels through the international wharf at Motukea.
The Razon-led company reported its net income attributable to equity holders stood at $182.14 million in 2017, one percent higher than the $180 million it booked in 2016.
This year, ICTSI has committed to spend $380 million for capital expenditures. The allocation will be used for capacity expansion in terminal operations in Manila, Mexico, and Iraq, as well as for the completion of a new barge terminal project in Cavite. — Denise A. Valdez
