LISTED International Container Terminal Services, Inc. (ICTSI) on Thursday said its container handling facility in Misamis Oriental, the Mindanao Container Terminal (MCT), is taking steps to improve yard productivity and overall terminal efficiency.
MCT recently “took delivery of two Mitsui hybrid rubber-tired gantries (RTG) — the first in Mindanao. The new deliveries expand MCT’s RTG fleet to six units,” ICTSI said in an e-mailed statement.
“MCT is also set to take delivery of a new side lifter within the year,” it added.
At the same time, ICTSI announced that MCT has bought a mobile harbor crane, which is expected to arrive next year, “to improve vessel-handling capability.”
“It will augment MCT’s two quay cranes and enable the simultaneous handling of two longer vessels,” the company noted.
ICTSI said the purchase of new equipment comes after the 100-meter berth extension and installation of dolphin mooring and inland bollards back in 2020.
“These improvements are all geared towards addressing the increase in volume and service demand as the global economy slowly begins to recover from the impact of the pandemic.”
The company is also undertaking P15-billion expansion projects at the Manila International Container Terminal, mainly to meet growing demand and serve new-generation container ships.
ICTSI’s capital expenditures (capex) for 2022 are expected to be approximately $330 million from $165 million in 2021.
It said the estimated capex budget will be utilized mainly for the payment of concession extension upfront fees, ongoing expansion projects, equipment acquisitions and upgrades, and maintenance requirements.
The company saw its attributable net income for 2021 surge to $428.6 million from $101.8 million a year earlier, mainly due to higher operating income.
Its gross revenues from port operations increased 23.9% to $1.9 billion in 2021 from $1.5 billion previously.
Meanwhile, the company’s expenses were reduced 4.7% to $1.1 billion from $1.2 billion in 2020.
ICTSI handled a total of 11.16 million TEUs in 2021, higher by 10% compared with the 10.19 million TEUs handled in 2020.
ICTSI shares closed 1.26% higher at P224.80 apiece on Thursday. — Arjay L. Balinbin
