ICTSI global throughput decreased 5% in 1H 2020

International Container Terminal Services, Inc. (ICSTSI) has announced a total throughput of 4.8m teu in the first six months of this year, down 5% year-on-year, across its 32 terminals spanning six continents.

The decrease in volume was primarily due to the decline in trade activities which resulted from the impact of the Covid-19 pandemic on global trade and lockdown restrictions.

For the quarter ended 30 June 2020, total consolidated throughput was 11% lower at 2.29m teu compared to 2.56m teu in the same period of 2019.

Gross revenue from port operations for the first six months of 2020 decreased by 4% to $724.3m from the $751.8m reported in the same period in 2019 as trade activities declined due to the impact of the Covid-19 pandemic and lockdown restrictions, partially offset by the contribution of ICTSI Rio, tariff adjustments and new services at certain terminals.

“Covid-19 is now the major challenge for most businesses globally and we expect the second half of the year will continue to be challenging and marked with uncertainties. However, ICTSI is well-positioned to navigate through these uncertain times, underpinned by our 32 terminals diversely located around the world, the resilience of our business model, agility and a strong capital structure,” said Enerique K.Razon Jr, chairmand and president of ICTSI.

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