INTERNATIONAL CONTAINER Terminal Services, Inc. (ICTSI) is ready to expand its operations and capability in Brazil after acquiring a stake in a marine property in Rio de Janeiro.
The listed port operator, through its wholly owned subsidiary ICTSI Americas B.V., has acquired a 47% interest in FII Inhaúma (Inhaúma Fundo de Investimento Imobiliário – FII), which holds perpetual rights to a property where ICTSI plans to develop a terminal, ICTSI said in a regulatory filing on Monday.
ICTSI said FII Inhaúma’s property is adjoining to its Rio Brazil terminal. The property spans roughly 32 hectares of an inactive shipyard, which might be utilized by the port operator to expand its capability for existing operations.
“The acquisition of this property represents an investment opportunity for ICTSI for the event of the world and, thus, the potential expansion of the whole operational and logistics capability of the port region of Rio de Janeiro,” ICTSI said.
Rio Brazil Terminal is positioned in Brazil’s economic region, serving the import-export hubs in the world, ICTSI said.
Established in 1987, ICTSI operates 33 terminals in 20 countries across six continents.
For 2025, ICTSI has allocated roughly $580 million in capital expenditures, primarily for the event of Southern Luzon Gateway within the Philippines, in addition to planned expansions at ICTSI Rio in Brazil and Mindanao Container Terminal (MCT).
This yr’s capital expenditure budget is higher than that of 2024. For the January-to-September period last yr, ICTSI said its capital expenditure reached $298.63 million, representing 66.4% of its $450-million allocation for 2024.
The Razon-led port operator said this yr’s capital expenditure will even fund the continued expansion of Matadi Gateway Terminal (MGT) within the Democratic Republic of the Congo, the Phase 3B expansion at Contecon Manzanillo (CMSA) in Mexico, and equipment acquisitions and upgrades.
In 2024, ICTSI saw its attributable net income climb by 66.1% to $849.80 million from $511.53 million a yr earlier, driven mainly by its operations in Asia.
Gross revenues for the period rose by 14.6% to $2.74 billion from $2.39 billion in 2023.
Breaking down the corporate’s revenue growth, its operations in Asia accounted for the most important share, generating $1.14 billion in 2024, up by 9.6% from $1.04 billion in 2023.
Revenues from its operations within the Americas reached $1.08 billion, up by 26% from $855.62 million in 2023, while revenues from Europe, the Middle East, and Africa (EMEA) totaled $521.02 million, a rise of 6.3% from $490.28 million.
On the local bourse on Monday, shares in ICTSI fell by 20 centavos, or 0.06%, to finish at P340 apiece. — Ashley Erika O. Jose
