ICTSI Expands to Asia-Pacific


International Container Terminal Services Inc. (ICTSI) is expanding its reach in South East Asia by increasing their operations in Indonesia and Brunei, reported the Philippine Star.  

One of the priorities of the company operation expansion is to operate a terminal in Indonesia; ICTSI is also expanding operations to Myanmar and Cambodia.

Christian Gonzalez, Head of the Asia-Pacific region for ICTSI said:  “We have proposed to enter into a long term concession agreement in Brunei. What we have at present is a short term renewal. We have proposed already a 20-year proposal.

“In Indonesia, we’re proposing changes, expansion of scope, expansion of areas, these kinds of things.  The way it works in Indonesia is they have a national port operator. The national port operator gets the concession from the port authorities and then the national port operator subcontracts some of the services out to private local and foreign companies.

“You cannot drive change and create benefit if you don’t have control. That’s why we divested in India, why we divested from Japan. We want to be able to control the terminal.” he said.

Earlier in July, ICTSI signed a syndicated loan facility worth US$300 million in order to bolster funds to develop the Webb Dock East at the Port of Melbourne, Australia.  

The company reported in its Q1, 2016 financial review that the revenue from port operations had fallen by 10%.

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