ICTSI eyes more ports in 3 continents

MANILA, Philippines - Port giant International Container Terminal Services Inc. (ICTSI) is on the lookout for investment opportunities in Europe, Africa, and certain parts of Asia as global operations continued to account for the bulk of its annual revenues.

In a forum titled “Rising Stars of the Philippines,” ICTSI vice president for finance and treasurer Rafael Consing said the port operator is looking at government-run ports that are being privatized in other countries.

“We want to look at more opportunities in Africa, Eastern Europe, and some Asian countries as well. It is really a function of how many countries are undergoing port privatization and there aren’t many. I can say a handful of opportunities,” he said.

Consing said about 65 percent of the port operator’s annual revenues come from its global operations.

“It has always been like that already. In fact most of our earnings are coming from outside of the Philippines. I would say about 65 percent is coming from outside the Philippines in terms of total revenues,” he added.

Consing said the company has almost covered all strategic areas in the Philippines through operations in Manila, Batangas, Davao City, Davao del Norte, Misamis Oriental, General Santos City, and Subic Bay.

It operates the Manila International Container Terminal, Subic Bay International Terminal, Bauan International Port, Davao Integrated Port and Stevedoring Services Corp., Hijo International Port Services, ICTSI Subic Inc., Mindanao International Container Terminal Services, and South Cotabato Integrated Port Services.

“In so far as the Philippines is concerned, we have covered the most strategic areas that is why we are looking for opportunities outside the country,” Consing explained.

He pointed out that the company’s capital expenditures for 2014 would be lower than the $550 million set for this year after the completion of major projects in Argentina and Mexico.

The amount allocated for next year would be used to finance a project in Columbia as well as the expansion of existing ports in Asia and the Philippines.

“It will be lower next year. Next year, Columbia will only be the Greenfield project that we will be spending on plus some of the expansion of the other ports,” Consing explained.

ICTSI is a leading port management company involved in the operations and development of 27 marine terminals and port projects in 19 countries worldwide. It has operations in Asia, India, Pakistan, Europe, Middle East, Africa, and Americas.

It operates Kattupalli International Container Terminal in Chennai, India;

Naha International Container Terminal Inc. in Okinawa, Japan; New Muara Container Terminal Services Sdn Bhd in Negara, Brunei Darussalam; Pakistan International Container Terminal Ltd. in Karachi, Pakistan; Pt Makassar Terminal Services in South Sulawesi, Indonesia; Pt Pbm Olah Jasa Andal in Jakarta, Indonesia; Yantai Rising Dragon International Container Terminals Ltd. in Shandong, China; Lekki International Container Terminal Services LFTZ Enterprise in Lagos, Nigeria; and Madagascar International Container Terminal Services Ltd. in Toamasina, Madagascar.

It also operates Contecon Guayaquil SA in Guayaquil, Equador; Contecon Manzanillo SA de CV in Manzanillo, Mexico; ICTSI Oregon Inc. in Portland, Oregon; Operadora Portuaria Centroamericana SA de CV in Cortes, Honduras; Sociedad Puerto Industrial del Aguadulce SA in Aguadulce, Colombia; Tecon Suape SA in Pernambuco, Brazil; TecPlata SA in Buenos Aires, Argentina; Adriatic Gate Container Terminal in Rijeka, Croatia; Baltic Container Terminal in Gdynia, Poland; and Batumi International Container Terminal LLC in Georgia.