ICTSI unit added to Ocean Network’s China-Thailand-Philippines service
THE operations of Subic Bay International Terminal Corp. (SBITC), a unit of Razon-led International Container Terminal Services, Inc., will now be part of Ocean Network Express’ China-Thailand-Philippines (CTP) service.
“The service links the Port of Subic to East Asia, complementing the existing route between the Philippines and Singapore by further enhancing convenience for customers,” SBITC said in a media release on Thursday.
The service will link the port of Subic to East Asia while also complementing existing routes from the Philippines to Singapore.
The CTP service is a 2,741 twenty-foot equivalent unit (TEU) boxship, which uses four 2,400 to 2,700 TEU vessels.
As the unit of ICTSI joins Ocean Network’s regional services, it will also provide a direct link between Thailand and Subic through the Laem Chabang port.
The company said the service will move around the Laem Chabang (Thailand), Cai Mep (Vietnam), Manila (Philippines), Subic (Philippines), Qingdao (China), Pusan (South Korea), Shanghai (China), Laem Chabang with a turnaround time of 28 days.
SBITC is the subsidiary of ICTSI that manages New Container Terminals 1 and 2 at the Subic Bay Freeport Zone.
At the local bourse on Thursday, shares in the company shed P8.20 or 2.49% to end at P321 apiece. — A.E. O. Jose
