PORT OPERATOR International Container Terminal Services, Inc. (ICTSI) acquired additional equipment to improve its operation at the Manila International Container Terminal (MICT) at the Port of Manila.
ICSTI said in a statement on Monday that it recently acquired eight new Mitsui hybrid rubber-tired gantry (RTG) cranes for its container yard at the Port of Manila. The addition of the new RTGs aims to boost the company鈥檚 operations amid rising container volumes.
鈥淭he latest acquisition expands MICT鈥檚 RTG fleet to 52 units 鈥 40 of which are hybrids powered by a combination of lithium-ion battery and smaller diesel engine,鈥 ICTSI said.
鈥淢ICT started using hybrid RTGs in 2018 to reduce the terminal鈥檚 carbon footprint as it ramps up efforts to become the most sustainable terminal in the Philippines,鈥 the port operator added.
In a recent stock exchange disclosure, ICTSI said its attributable net income for 2021 quadrupled to $428.6 million from $101.8 million in 2020 due to an improved operating income.
The company鈥檚 gross revenues from port operations for 2021 climbed by 23.9% to $1.9 billion while its expenses in the similar period declined by 4.7% to $1.1 billion.
On Monday, shares in ICTSI at the local bourse fell by 6.19% or P14 to close at P212 apiece. 鈥 Revin Mikhael D. Ochave
