ICTSI’s Polish unit gears up as port hub in Eastern Europe

International Container Terminal Services Inc. (ICTSI) subsidiary Baltic Container Terminal (BCT) has signed separate contracts for the purchase of new handling equipment as it eyes regional hub status in Eastern Europe.

In a disclosure to the Philippine Stock Exchange, ICTSI said it will purchase two post-Panamax quay cranes and four rubber tired gantries scheduled for delivery in November 2006.

BCT president Thomas Falknor said the latest purchase is part of a $100-million phased investment plan to raise the Poland-based terminal’s capacity to one million twenty-foot equivalent units (TEUs).

Falknor said the phased equipment purchases are seen to consolidate and firmly establish BCT’s position as Poland’s leading container gateway and put it in a position to cater to any increase in the size of container vessels deployed in the Baltic as well as cater to new direct service or hub initiatives.

BCT is also committed to provide Poland’s exporters and importers with ample capacity for the efficient handling, storage and stevedoring of containers for the long term.

ICTSI specializes in container terminals in the 50,000 TEU to 1.5 million TEU range and has experience that spans terminal operations in six continents. ICTSI acquired BCT in May 2003.

In November 2004, BCT secured a loan from a syndicate of Polish and international banks to fund its expansion, which involves the purchase of new equipment and the upgrading of its IT system.

ICTSI is bidding for three container port operations overseas to establish a strong competitive foothold in the international market. It recently acquired the right to operate the Port of Toamasina in Madagascar for 20 years.

It also submitted bids for container port operations in Yemen and Nigeria, which are considered good sites for expansion because they are strategically located and have enormous growth opportunities.

ICTSI is also exploring opportunities in China and Northern America.

The company will make additional investments in its existing port terminals abroad, including the Suape Container Terminal in Brazil as part of efforts to make them the preferred gateway ports in their regions.