International Container Terminal Services, Inc. (ICSTSI) expects the second half of the year to "continue to be challenging" as the impact of the coronavirus pandemic drags on.

The international terminal operator, which operates 32 terminals across six continents, reported a total throughput of 4.8m TEUs in the January to June period, dropping 5% year on year.

For the second quarter alone, ICTSI recorded a consolidated throughput of 2.29 million TEUs, 11%  down from the 2.56 million TEUs it reported during the same period last year. 

ICTSI attributed the decline in volume to a similar downturn in trade activities still due to the coronavirus pandemic and the economic fallout from it, including ongoing lockdown measures in many countries across the world.

“Covid-19 is now the major challenge for most businesses globally and we expect the second half of the year will continue to be challenging and marked with uncertainties,” said Enerique K.Razon Jr, chairman and president of ICTSI.

“However, ICTSI is well-positioned to navigate through these uncertain times, underpinned by our 32 terminals diversely located around the world, the resilience of our business model, agility and a strong capital structure,”  he added.