ICTSI Wins Sudan Port Contract
Philippines-based International Container Terminal Services Inc. (ICTSI) said it has been chosen by the government of Sudan to handle the operations and management of the South Port Container Terminal (SPCT). In a disclosure to the Philippine Stock Exchange yesterday, ICTSI said the state-run Sea Ports Corp. of Sudan (SPC) has confirmed it as the preferred bidder to operate and manage the SPCT under a 20-year concession. ICTSI, controlled by gaming and ports tycoon Enrique Razon Jr., said that SPC is the independent state corporation of the Republic of the Sudan that governs, constructs and maintains the country’s ports, harbors and lighthouses.
Phoenix Petroleum, CNOOC Partner for LNG Terminal
Philippine fuel retailer Phoenix Petroleum said it had agreed to partner with a subsidiary of state-owned China National Offshore Oil Corp (CNOOC) to explore building a receiving terminal for liquefied natural gas in the country.The Philippines is seeking investors to build a storage and distribution facility for imported LNG as it moves to replace its Malampaya gas reserves, expected to be depleted by 2024.Phoenix Petroleum, owned by a local businessman who helped bankroll President Rodrigo Duterte's 2016 election campaign…
ICTSI Terminates Nigeria Port Project
International Container Terminal Services (ICTSI) subsidiary Lekki International Container Terminal Services LFTZ Enterprise (LICTSE) has given up on its Nigerian port project due to delays in its execution, reports Nikkei. LICTSE and Lekki Port LFTZ Enterprise (LPLE) have mutually agreed to terminate their sub-concession agreement dated Aug. 10, 2012. "The parties arrived at this decision following delays in the execution of the Lekki Port Project," ICTSI told the Philippine Stock Exchange. Under the agreement, LICTSE has the exclusive right to develop and operate, and to provide handling equipment and container terminal services, at the container terminal within Lekki Port located at Ibeju Lekki, Lagos State in Nigeria for 21 years. The termination of the agreement took effect on May 24.
Philippines' ICTSI Bags Australian Port Deal
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.
ICTSI Wins Long-Term Montreal Port Contract
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.
KPMI Appoints Yeo as Chairman of Board
Keppel Philippines Marine Inc (KPMI), a company listed on the Philippine Stock Exchange and a subsidiary of Keppel Corporation Limited, has appointed Nelson Yeo as Chairman with effect from. He has also been appointed Chairman of Subic Shipyard & Engineering Inc (SSEI), an associate of Keppel Corporation Limited. Yeo takes over the chairmanship of KPMI and SSEI from Charles Foo, Managing Director (Special Projects) of Keppel Offshore & Marine (Keppel O&M), who has also resigned as Director of both companies. Foo, who is currently Chairman of Keppel Singmarine Pte Ltd of Singapore and Keppel Nantong Shipyard, China, was appointed Chairman of KPMI and SSEI in November 1999.
