ICTSI acquires new property in Brazil

MANILA, Philippines — Logistics giant International Container Terminal Services Inc. (ICTSI) has acquired a stake in a marine property in Rio de Janeiro in line with plans to ramp up operations in Brazil.

ICTSI yesterday said it has purchased a 47-percent interest in Inhauma Fundo de Investimento Imobiliario-FII (FII Inhauma) to kick off its expansion projects in Brazil.

FII Inhauma owns perpetual rights in a property in Rio de Janeiro where ICTSI eyes to develop a terminal for private use.

The property spans 32 hectares and houses an inactive shipyard called Estaleiro Inhauma. ICTSI wants to build a private use terminal in the location, as it is close to where Rio Brasil Terminal is situated.

Prior to the establishment of a private use terminal, the property will be used as an extension of Rio Brasil Terminal for added capacity. ICTSI views the acquisition as an opportunity to boost logistics activities in Rio de Janeiro.

“The acquisition of this property represents an investment opportunity for the development of the area and thus, potential expansion of the total operational and logistics capacity of the port region of Rio de Janeiro,” ICTSI said.

ICTSI controls multiple ports in Latin America, including Rio Brasil Terminal, which is located in Rio de Janeiro, one of Brazil’s largest exporting states.

Rio Brasil Terminal is linked to maritime, rail and road infrastructure in Rio de Janeiro, and the facility moves high-value goods like minerals, stones and vehicles.

For ICTSI, the move to expand in Rio de Janeiro aligns with the company’s blueprint to build up presence in the world’s busiest port areas. On top of this, ICTSI has more than enough resources to enhance existing projects and invest in new ones.

Last year, ICTSI booked a record-high profit of $849.8 million, lifted by $2.74 billion in revenue. The company is floating on a free cash flow of $1.08 billion which it can use to fund expansion projects in the Philippines and abroad.

For 2025, ICTSI is jacking up capital expenditures by 12 percent to $580 million, as it pursues a new terminal in Batangas and expands facilities in Manila and Mindanao, among others.

ICTSI is one of the biggest port operators in the 50,000 to 3.5 million twenty-foot equivalent units per year range and manages projects across six continents.