ICTSI Wins Long-Term Montreal Port Contract

Posted by George Backwell
Friday, May 02, 2014
Port of Melbourne: File photo

Philippine-based International Container Terminal Services Inc (ICTSI) said on Friday its Australian unit would invest up to A$548 million ($508 million) to build and operate port facilities in Melbourne.

ICTSI told the Philippine Stock Exchange its Victoria International Container Terminal Ltd unit signed a 26-year contract with the Port of Melbourne Corporation to build, operate and finance a terminal and container park in the city, Australia's largest hub for containerised cargo.

The investment in the terminal development is estimated at A$439 million for the first two phases, which will be operational by 2017. Further investments of A$109 million are likely to increase capacity, ICTSI said.

The planned terminal would have capacity of about 1.4 million Twenty-foot Equivalent Units (TEU), while the container park would have a capacity of 280,000 TEUs.

Victoria International is 90 percent owned by ICTSI, with the remaining held by Australia's Anglo Ports Pty Ltd.

ICTSI shares rose as much as 5.5 percent on Friday following the announcement of the deal. The benchmark Manila index was up 0.6 percent as of 0615 GMT.

ICTSI, owned by the Philippines' fourth-richest person, Enrique Razon, operates the Southeast Asian country's biggest ports and has terminal concessions and port development projects in more than a dozen other countries including China and the United States.

($1 = 1.0785 Australian Dollars)

(By Siegfrid Alegado; editing by Stephen Coates)
 

 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Cenac Marine to Christen New Vessel, Donate Barge

A ceremony will be held July 29 at Cenac Marine Services headquarters in, Houma, La. To commemorate the christening of its newest vessel, M/V Quincey Cenac, as

Concordia Maritime Posts Q2 Profit

Facing a “gradually deteriorating market,” Sweden based tanker shipping company Concordia Maritime said it was able to post a profit in Q2 2016 based on high vessel

Brown Named Bureau Veritas Communications Director

Nick Brown has been appointed Bureau Veritas’ new Communications Director, Marine & Offshore Division, the classification society announced.    Brown will take up the post from November 2,

Contracts

Asia Dry Bulk-Capesize Steady as Owners Spurn Low Rates

Owners anchoring ships rather than fix at low rates. W. Australia-China capesize rates hit over two-month low. Freight rates for large capesize dry cargo ships

India Buys 4 P-8I Maritime Planes

India has inked a deal with the US defence and aerospace giant Boeing to procure four more Poseidon-8I (P-8I) long-range surveillance and anti-submarine warfare

Technip Bags Woodside's Subsea Contract

Technip has been awarded a large(1) subsea contract by Woodside to support the development of the Greater Enfield Project offshore Western Australia, at a water

Ports

Container-on-barge Returns to Baton Rouge

Container-on-barge services have returned to the Port of Greater Baton Rouge to provide the petrochemical industry with another option to move its products.   Operated by SEACOR AMH,

Enterprise to Export First Ethane Cargo from Houston Terminal in August

Enterprise Products Partners on Thursday said the first ship to load ethane for export from its new terminal on the Houston Ship Channel will arrive on Aug. 1,

Bay-Houston's New Escort Tug Launched

Eastern Shipbuilding Group, Inc. has launched Laura B, the final vessel in a series of four Robert Allan, LTD. (RAL) designed Z-Tech 2400 Class terminal and escort

Finance

Concordia Maritime Posts Q2 Profit

Facing a “gradually deteriorating market,” Sweden based tanker shipping company Concordia Maritime said it was able to post a profit in Q2 2016 based on high vessel

Asia Dry Bulk-Capesize Steady as Owners Spurn Low Rates

Owners anchoring ships rather than fix at low rates. W. Australia-China capesize rates hit over two-month low. Freight rates for large capesize dry cargo ships

Scorpio Bulkers books Net Loss

USA-Monaco based bulk carrier Scorpio Bulkers has reported a loss of $24.7 million in its second quarter of 2016, pushing the carrier's deficit up to $ 83 million.

Container Ships

Diana Containerships in Red, Suspends Dividend

Greece-based Diana Containerships Inc. has reported a second-quarter loss of $8 million, after reporting a profit in the same period a year earlier.   The shipping

Panama Canal: Assessing the Risk & Reward

The Panama Canal’s impact on shipping routes and vessel sizes since it opened in 1914 is undisputed. This will continue with the opening of a third channel for larger vessels in 2016.

New Container Facility at Krishnapatnam Port

Krishnapatnam Port, India's largest all-weather; deep water port on the east-coast of India has inaugurated CONCOR’s - Port Side Container facility – a Government of India undertaking.

Logistics

Container-on-barge Returns to Baton Rouge

Container-on-barge services have returned to the Port of Greater Baton Rouge to provide the petrochemical industry with another option to move its products.   Operated by SEACOR AMH,

Asia Dry Bulk-Capesize Steady as Owners Spurn Low Rates

Owners anchoring ships rather than fix at low rates. W. Australia-China capesize rates hit over two-month low. Freight rates for large capesize dry cargo ships

Damen Presents Decommissioning Vessels Concept

Damen Shipyards Group has announced its latest concept design: the Damen Decommissioning Series. The vessel will specialize in three core areas of the oil and gas

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0061 sec (163 req/sec)