International Container Terminal Services Inc (ICTSI) reported a 33% jump in profits last year, Seatrade Asia online reports. The Manila-headquartered terminal operator a net profit of $130.5m for 2011, up 33% on the previous year. Revenues were up 26% at $664.8m last year.
Globally ICTSI’s volumes rose 25% in 2011 with the terminal operator handling 5.23m teu. “The increase in volume was mainly due to the continued upturn in international trade, particularly in markets where ICTSI’s ports are located, new shipping line customers and the consolidation of the company’s new ports in Portland, Oregon, USA and Rijeka, Croatia,” ICTSI said. Excluding the new terminals volumes grew at 18% in 2011.
Globally ICTSI’s volumes rose 25% in 2011 with the terminal operator handling 5.23m teu. “The increase in volume was mainly due to the continued upturn in international trade, particularly in markets where ICTSI’s ports are located, new shipping line customers and the consolidation of the company’s new ports in Portland, Oregon, USA and Rijeka, Croatia,” ICTSI said. Excluding the new terminals volumes grew at 18% in 2011.