The International Container Terminal Services, Inc (ICTSI) said it handled a consolidated volume of 5.46 million twenty-foot equivalent unit (TEU) in the first half of the year, up 14% from the 4.8 million TEU it moved during the same period in 2020.
The Manila-headquartered port operator attributed the rise in volume to improvement in trade activities as economies continue to recover from the impact of the coronavirus pandemic and lockdown restrictions, as well as new shipping lines and services at some of its terminals.
For the quarter, ICTSI said its total consolidated throughput was 20% higher at 2.75 million TEUs, which was better than the 2.29 million TEUs it recorded last year.
Gross revenues from port operations for the January to June period was also up by 22% to US$882.6 million from the US$724.3 million seen during the comparable period in 2020.
It said aside from volume growth, favorable container mix, tariff adjustments at certain terminals, higher revenues from ancillary services and the contribution of new terminals in Nigeria, Manila Harbour Centre Port Services, and Cameroon, also boosted its revenue for the period.
"I am exceptionally delighted with the performance we have delivered for the first half of 2021 with our volume, revenues and EBITDA rising by 14%, 22% and 28%, respectively across all three geographic segments," said Enrique K. Razon, ICTSI chairman and president.
"These results have surpassed 2019 pre-pandemic performance and were driven by favourable market conditions and the prudent actions we took at the onset of the pandemic," he added, noting that the results is also evidenced by the strong organic growth across its terminals.
