ICTSI’s Ecuador unit expects higher cargo movement
LISTED port operator International Container Terminal Services, Inc. (ICTSI) said its unit Contecon Guayaquil S.A. (CGSA) is optimistic about this year’s operations as it anticipates an increase in cargo movement.
ICTSI said its unit is hopeful to move over 900,000 20-foot equivalent units, which is 5% higher than a year earlier.
The company said that CGSA was able to handle 135 million tons of cargo since it started operations at the Port of Guayaquil.
“With more than USD$360 million invested since the beginning of our operation, we have created a world-class terminal with vast infrastructure, technology, and equipment, contributing to the economic development of the country and the generation of jobs,” Javier Lancha, chief executive officer of CGSA, said in a media release.
In 2007, ICTSI secured a 20-year concession for the container and multipurpose terminals in Guayaquil, Ecuador after an award by the port authority of Guayaquil, Autoridad Portuario de Guayaquil.
CGSA serves as the sole terminal in Ecuador that can handle three neo-Panamax ships simultaneously, the company said.
“Recent dredging works at the foot of the pier have increased the depth to 13.5 meters, allowing the terminal to receive the largest vessels operating on the Pacific Coast of South America,” ICTSI said.
At the local bourse on Wednesday, shares in the company gained P5.40 or 2.66% to end at P208.60 apiece. — Ashley Erika O. Jose
