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ICTSI considers Subic port expansion

26 Nov

Port operator International Container Terminal Services Inc. plans to expand Subic port, which started to attract more shipping lines.

Subic Bay International Terminal Corp., a subsidiary of ICTSI, is the operator of the New Container Terminal-1 in Subic Bay.

ICTSI vice president and Asian region head Christian Martin Gonzalez said port utilization in Subic was expected to hit 21% by 2015, which would also improve the usage of its twoberth facility.

ICTSI said Subic Bay still had many unused lots where the company could extend its operations. Subic port will undergo an equipment improvement program by the third quarter of 2015, in line with similar program for the Manila International Container Port in Manila.

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Gonzalez said ICTSI would spend $12 m to add six more rubber-tire gantry cranes for the Subic Port and the MICT, “depending on what port will be needing the most number of cranes.”

“We won’t be adding quay cranes in Subic because there’s already four. In Manila, we plan on adding two in years depending on how see the market developing,” said Gonzalez.

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The equipment procurement project is a part of the $330-million, 10-year expansion program of ICTSI that includes the creation of another berthing facility, dockyard expansion and modernization of port equipment.

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Posted by on November 26, 2014 in Corporate News, ICT, Stock Market

 

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