Sunday, June 29, 2025
Home Port News ICTSI reports container growth amid improved financial performance

ICTSI reports container growth amid improved financial performance

In 2022, International Container Terminal Services, Inc. (ICTSI) handled a consolidated volume of approximately 12 million TEUs, translating to a 9% increase compared with 2021 box volumes.

The global port operator reported that volume growth was primarily due to the consolidation of Manila North Harbour Port, Inc. (MNHPI) in the Philippines at the beginning of September, volume growth and improvement in trade activities as economies continue to recover from the impact of the Covid-19 pandemic and lockdown restrictions and new shipping lines and services at some terminals.

ICTSI has also announced audited combined financial results for 2022, reporting revenue from port operations of US$2.24 billion, a 20% increase over the previous year’s figure of US$1.87 billion.

Enrique K. Razon, Jr., ICTSI chairman and president, stated, “ICTSI delivered a strong performance in 2022 with revenues up 20% to US$2.24 billion and EBITDA of US$1.41 billion, an increase of 24% against the previous year driven by tight operational controls and volume growth of 9% to 12,216,190 TEUs.”

Additionally, the company’s net income reached US$618.46 million, higher by 44% than the corresponding figure last year, driven mainly by the increased operating income.





Latest Posts

Top 5 hybrid threats targeting global shipping

In the vast expanse of the world’s oceans, the global shipping industry faces not only storms and bottlenecks, but also a growing arsenal of...

C.H. Robinson offers technology execution capabilities for Item-Level Solutions

C.H. Robinson is expanding access to its industry-leading Item-Level Solutions, making them available to its entire global customer base. These solutions offer unprecedented end-to-end visibility...

UWL announces vessel partnership with Emirates Shipping Line

UWL, a leading American-owned NVOCC (Non-Vessel Operating Common Carrier) and global logistics provider, welcomes Emirates Shipping Line as the new vessel partner for its...

Sea-Intelligence: Port Power Rankings

 Sea-Intelligence analyses port performance in terms of schedule reliability, across the 202 deep-sea ports with the largest number of container vessel calls, by creating...

Suez slowdown reshapes Red Sea’s port map

The macro picture of the Red Sea is worsen as canal transits are at half-mast, and the region has relinquished its role as the...
error: Content is protected !!