ICTSI begins development of RoRo terminal for containers
INTERNATIONAL Container Terminal Services, Inc. (ICTSI) has started the development of the country’s first container barge terminal set to be built in Tanza, Cavite.
In a regulatory filing on Friday, ICTSI said that it has launched the development of a container roll-on roll-off (RoRo) barge terminal called the Cavite Gateway Terminal, in partnership with the Department of Transportation (DOTr).
The project comes as the DOTr promotes its national transport plan which seeks to use nautical highways of the movement of goods.
The project is set to be built in a six-hectare property that will facilitate the seaborne transport of containers between ICTSI’s Manila International Container Terminal and Cavite.
The listed transport firm is investing $30 million for phase 1 of the project which will feature an annual capacity of 115,000 20-foot equivalent units (TEUs). This translates to 140,000 fewer truck trips on city roads each year, the company said.
CGT will be integrated with other major Luzon port facilities for more cost-effective and time-bound access to the Cavite market.
In a separate disclosure, Harbor Star Shipping Services, Inc. said that it will be one of the clients of ICTSI’s terminal, confirming that it plans to deploy 150 TEU barges for CGT. The company further said that it also intends to offer chassis roll-on roll-off shuttle services at the terminal.
Incorporated in 1987, ICTSI holds the concession to be the exclusive operator of the Manila International Container Terminal up to May 18, 2038.
ICTSI booked $1.128 billion in revenues from port operations in 2016, a 7% rise from 2015’s $1.051 billion. The firm said the increase was mainly due to the improvement in trade activities in its Philippine ports and the expansion of overseas operations.
The firm handled a consolidated volume of 8.689 million TEUs in 2016, 12% higher than the 7.775 TEUS in 2015.
Shares in ICTSI were unchanged at P88 apiece on Friday. -- Arra B. Francia