Seatrade-maritime.com: ICTSI container handling up 11% in H1

Throughput at ICTSI’s global terminals fell just shy of 7 million teu buoyed by trade growth.

Manila-headquartered International Container Terminal Services Inc (ICTSI) handled consolidated volume  of 6.99 million teu in the first half of 2025, 11% higher than the 6.3 million teu handled in the same period in 2024. 

The growth in volume at ICTSI’s terminals in the first half of the year was mainly due to improvement in trade activities across all regions. 

Gross revenues  from port operations for the first half of 2025 grew 14% to $1.51 billion from $1.32 billion reported in the same period in 2024 mainly due to the tariff adjustments, volume growth with favourable container mix, and higher revenues from ancillary services at certain terminals, including growth in general cargo activities. This was partially reduced by unfavourable foreign exchange impact.

 “We have continued our strong momentum, with ICTSI’s exceptional performance in the first half of 2025, underscoring the strength and agility of our diversified global operations. With revenue from port operations reaching $1.51 billion and EBITDA climbing to $990.54 million, we delivered a record net income of $483.84 million over the period – up 15% year-on-year. This achievement reflects our continued focus on operational excellence, strong balance sheet, strategic expansion, and disciplined cost management,” said Enrique K. Razon Jr., ICTSI Chairman and President.

Related:Asia Pacific trade in focus: the new playbook for smarter logistics

“We have seen significant growth both operationally, an 11% increase in consolidated volume, and in the value, we create for our shareholders, with a 17% increase in diluted earnings per share, demonstrating the resilience of our business and success of our growth strategy. As we invest in key terminals across the Americas, Asia, and Africa, we remain committed to driving sustainable growth and innovation throughout our global portfolio,” he added.

Consolidated EBITDA for the six months of 2025 increased 15% to $990.54 million from $864.99 million in the same period in 2024.  Consequently, the EBITDA margin improved to 66% from 65%. 

Capital expenditures, excluding capitalised borrowing costs, amounted to $231.98 million for the first half of 2025. These were mainly for ongoing expansions at Contecon Manzanillo S.A. (CMSA) in Mexico, some Philippines terminals, and ICTSI DR Congo S.A. (IDRC) in Democratic Republic of Congo; and equipment acquisitions and upgrades at certain terminals. 

ICTSI’s estimated capital expenditures for 2025 is approximately $580 million which will be utilized mainly for the continued development of the new project in Batangas, Philippines, phase 3B expansion in CMSA, Manzanillo, Mexico, expansion of MICT, Manila, Philippines, and IDRC, Matadi, DRC; new expansion projects at ICTSI Rio, Brazil and Mindanao Container Terminal, Cagayan de Oro, Philippines; various other equipment acquisitions and upgrades; and maintenance capex.