ICTSI (International Container Terminal Services Inc. ) chairman Enrique “Ricky” Razon is a long-time friend, and I know him to be one of those businessmen who is a stickler for “doing the right thing” all the time, insisting on the highest standards in every business he gets himself into — a principle that always pays off. One tangible proof is the impressive performance of ICTSI that reported a surge in both revenue and income for the first half of this year.
The global port operator reported a net income of $103.6 million in the first six months of 2017, up 19 percent from the $87.3 million earned for the same period in 2016. Revenue from port operations soared to $603.7 million in the first half — an increase of 10 percent on the $550.8 million recorded for the same period last year.
Ricky is undoubtedly the “ports king,” with ICTSI the undisputed top container operator in the country with port projects and terminal concessions in many parts of the globe from the US to Africa to Latin America, the Middle East and the Asia Pacific region — recognized by the Asian Development Bank as one of the top five port operators in the world.
One of the reasons why ICTSI is on top of the game is the insistence of Ricky Razon on investing in state-of-the-art technology and the best equipment, as well as ensuring the highest standards of port safety. In fact, ICTSI’s Victoria International Container Terminal (VICT) in Melbourne, Australia is poised to be the world’s first fully automated – and therefore the most advanced – international container handling facility. According to Ricky, $450 million is invested in VICT to make it the most automated terminal in the world that can accommodate the largest NeoPanamax container ships.
While the $500 billion global shipping industry is experiencing smoother sailing after years of being in the doldrums, with companies slowly displaying a turnaround in their fortunes, “container shipping is now a game only for big boys with deep pockets,” said an executive of Singapore-based transport research firm Crucial perspective.
“Super sized” seems to be the byword as companies that can afford to utilize mammoth vessels have displayed faster recovery in an industry that has been depressed for over a decade. Increased demand has been reported, and those with giant container ships can enjoy bigger economies of scale, said analysts who also projected global demand growth to outpace supply growth until 2019.
Helicopter commuting poised to fly
Decades ago, helicopter transport was popularized by a company known as New York Airways which could ferry passengers from the rooftop of PanAm Building in Manhattan. But in 1977, an accident involving a Sikorsy that careened on top of the building resulted in the death of five people – clipping the wings of helicopter commuting as an industry.
Things have certainly changed since then, with aviation charter companies very upbeat on the prospects of e-VTOL (electric vertical takeoff and landing) technology in making “airborne shuttle service” a reality in many cities across the world. Aviation technology experts say e-VTOL could revolutionize short-distance transport, particularly in chronically congested cities, with battery-powered helicopters bringing businessmen from one destination to another in just a matter of minutes.
According to Philjets founder and managing director Thierry Tea, more businessmen are beginning to see helicopter transport not as a luxury, but also as a cost effective tool in doing business because it allows company executives to travel from one place to another faster — doing away with traffic that can result in huge costs in terms of time and money wasted, not to mention lost business opportunities if one were late for an appointment. In fact, one foreign company lost out on a major infrastructure project because they failed to submit their bid on time due to traffic.
Early this year, Philjets added three helicopters – Airbus H130, H145 and a Bell 407 — to its fleet, with delivery expected within the year. The new additions will bring the aviation company’s lineup to 10 helicopters and two business aircraft by the end of the year.
Commuting public angry over Uber
Commuters are angry over the one-month suspension meted by the Land Transportation Franchising and Regulatory Board (LTFRB) against transport network company Uber — a move legislators have blasted. According to Senator Grace Poe, the one-month suspension is cruel and absurd because it will exacerbate the problem of congestion in Metro Manila.
Uber has become in important part of everyday commute now especially for young people who have to go home late because they consider the ride-sharing company their best option when it comes to safety and convenient transport because they can even sleep during the ride home without worrying that they will become victims of holdups or some such crime. Parents also feel more secure with Uber and Grab because the app allows them to monitor the location of the vehicle.
Clearly, the LTFRB has to come up with an acceptable solution that would not impose further suffering on the commuting public that suffer from the hellish traffic in Metro Manila on a daily basis.
***
Email: spybits08@gmail.com