ICTSI Subic deploys more equipment to boost productivity

LISTED port operator International Container Terminal Services, Inc. (ICTSI) announced on Wednesday that its Subic Bay International Terminal Corp. (SBITC) is deploying more equipment to boost its landside operations.

SBITC is now deploying additional rubber-tired gantries (RTGs) to improve its productivity, in line with the growth prospects of North and Central Luzon, ICTSI said in a statement.

The RTGs are scheduled to be delivered in the last week of September.

ICTSI said that this development will allow SBITC to meet the expected demand and cargo shipment during the peak season.

“SBITC started using RTGs in 2019, which resulted in reduced truck dwell times, improved yard utilization, and a 42% increase in the terminal’s static capacity,” the port operator said.

“The additional RTGs will enable SBITC to further improve its service offerings to stakeholders and raise the industry standard in the region,” it added.

For the first half, revenues from ICTSI’s global port operations reached $1.06 billion, an increase of 20% from the $882.6 million reported for the first six months of 2021.

Its net income attributable to equity holders for the period reached $294.5 million, 50% more than the $196.7 million earned in the first half of 2021.

The improvement in the second-half net income was “primarily due to higher operating income; higher net foreign exchange gain, increase in equity share in net profit of joint ventures; and strong contribution of new terminals; partially tapered by an increase in depreciation and amortization, and interest on loans, concession rights payables and lease liabilities,” the company said. — Ashley Erika O. Jose