The container terminal operator International Container Terminal Services, Inc., (ICTSI) said Monday that its operating profits through the first three quarters of 2013 rose 26 percent year-over-year to $285.5 million.
Revenue during the period rose 19 percent to $624.7 million. Volume handled at ICTSI terminals rose 13 percent to 4.6 million TEUs.
“The increase in volume was mainly due to the continuous growth in international and domestic trade in most of the company’s terminals and the volume generated by Pakistan International Container Terminal (PICT) and PT Olah Jasa Andal (PT OJA), the company’s new container terminals in Karachi, Pakistan, and Jakarta, Indonesia, respectively,” ICSTI said in a statement. “Excluding volume from the two new terminals and the effect of the cessation of the operations in Syria effective January 2013, organic volume growth increased by 1 percent. The company’s seven key terminal operations in Manila, Brazil, Poland, Madagascar, China, Ecuador and Pakistan accounted for 79 percent of the group’s consolidated volume in the first nine months of 2013.”
ICTSI volume, profits up with help from new terminals
