Cargo Business Newswire

Wednesday, September 30, 2015

ICTSI container volume up 9 percent in first half

International Container Terminal Services, Inc. has reported unaudited fiscal results for the first half of 2015, posting revenue from port operations of $552.1million, an increase of eight percent over the $510.3 million reported for the same period of 2014.

The company posted an EBITDA of $237.4 million, 12 percent higher year-over-year; and net income attributable to equity holders of $100.4 million, down one percent over the $101.7 million earned in the same period last year. ICTSI said 2014 was a higher income year due to several one-time transactions, primarily capital gains.

ICTSI handled consolidated volume of 3,888,130 TEUs in the first six months of 2015, nine percent more year-over-year. The terminal operator said the increase in volume was in part due to the volume ramp-up at terminals in Manzanillo, Mexico and in

Puerto Cortez, Honduras; new shipping line contracts/services at Pakistan International Container Terminal in Karachi, Pakistan; and the contribution of the company’s new terminal, ICTSI Iraq, in Basra, Iraq that began commercial operations in November 2014.

The company’s eight key terminal operations in Manila, Brazil, Poland, Madagascar, China, Ecuador, Pakistan and Honduras, which accounted for 77 percent of the group’s consolidated volume in the first half of 2015, grew six percent compared to the same period last year.

For the quarter ending June 30, 2015, total consolidated throughput was five percent higher at 1,905,357 TEUs compared to 1,808,928 TEUs in 2014.