International Container Terminal Services, Inc. (ICTSI) () is a global port management company headquartered in Manila, Philippines. Established on December 24, 1987, ICTSI is the Philippines' largest multinational and transnational company, having established operations in both developed and emerging market economies in Asia Pacific, the Americas, and Europe, the Middle East and Africa. The company is ranked the eighth largest container terminal operator, according to TEU equity volume.
History
ICTSI was established by Spanish-Filipino businessman Enrique K. Razon Jr., whose family has been managing harbors in the Philippines for three generations, in connection with the bidding for the privatization of the Manila International Container Terminal (MICT). In 2020, Forbes named Razon the third richest Filipino and the 565th individual in the world, with a personal wealth of $5.1 billion.
In May 1988, the Philippine Ports Authority awarded the MICT contract to ICTSI, which started its operations of MICT on June 12, 1988. In March 1992, ICTSI's shares were listed on the Manila and Makati Stock Exchanges (now the Philippine Stock Exchange) following the initial public offering of its shares. In September 1992, ICTSI was ranked alongside San Miguel Corp. and PLDT as one of the best managed companies in the Philippines based on an international survey conducted by the Hong Kong magazine Asia Money & Finance.
ICTSI is an international operator of common user container terminals serving the global container shipping industry. Its business is the acquisition, development, operation and management of container terminals focusing on facilities with total annual throughputs ranging from 50,000 to 3,000,000 twenty-foot equivalent units (TEUs). It also handles break bulk cargoes and provides a number of ancillary services such as storage, container packing and unpacking, inspection, weighing, and services for refrigerated containers or reefers.
ICTSI is an independent port operator with no vested interests in shipping line activity. It is, therefore, looked upon as a neutral operator that can offer an equal standard of service to all shipping line clients. ICTSI management is known throughout the world for the development and management of highly efficient and operationally effective container terminals and ports, in both developing and developed political and economic environments.
Asia Pacific
Manila International Container Terminal, Manila, Philippines
In 1988, ICTSI won in an international tender a 25+25-year concession to manage, operate and develop the Manila International Container Terminal (MICT), ICTSI's flagship operation and the Philippines’ leading international trading gateway. ICTSI's responsibilities include: port management, operations and administration, port development and construction including port planning and programming supply of all equipment, and investment risk.
The MICT is one of the three terminals in the Port of Manila, the core of the Philippine port system. The MICT is located between the North and the South Harbors, protruding westward into the Manila Bay at the mouth of the Pasig River, the city's major waterway. A dedicated container terminal, the MICT mainly handles international containerized cargo. ICTSI also handles bulk cargo at the MICT basin anchorage.
The MICT today is the Philippines' largest international container terminal in terms of volume and capacity, capturing an estimated 65 percent market share in the Port of Manila.
Manila NorthPort, Manila, Philippines
In September 2017, ICTSI signed a Share Purchase Agreement (SPA) with Petron Corporation for the acquisition of 34.83% of the total issued and outstanding shares of Manila North Harbour Port, Inc. (MNHPI). The Company in 2019 further acquired 15.17% of MNHPI from Harbor Center Port Terminal Inc. (HCPTI), increasing ICTSI's stake to 50%. MNHPI holds the 25-year concession contract with the Philippine Ports Authority (PPA) for the development, management, operation and maintenance of Manila North Harbor, the country's premiere domestic port.