International Container Terminal Services (ICTSI), the global developer, manager and operator of container terminals in the 50,000 to 2.5 million TEU/year range, ended Q1 with revenues increasing 12% to US$297.2 million and throughput growth of 11% to 2.3 million TEUs.
ICTSI stated that the increase in volume was a combination of global trade activities in the emerging markets, continuing ramp-up at ICTSI Iraq, the contribution of ICTSI Democratic Republic of Congo (IDRC), and the company’s new terminal in Matadi, DRC.
Excluding the new terminal in DRC, consolidated volume increased by 10%.
The increase in revenues was mainly due to volume growth, tariff rate adjustments at certain terminals, new contracts with shipping lines and services, and the contribution from the company’s new terminal in Matadi, DRC.
Excluding the new terminal in DRC, consolidated gross revenues increased by 8%.
ICTSI operations span four continents.
