Sponsored By

ICTSI global throughput decrease 5% in 1H 2020ICTSI global throughput decrease 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.

Michele Labrut, Americas Correspondent

August 7, 2020

1 Min Read
Kalyakan - stock.adobe.com

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.

Read more about:

ICTSIContainer Terminals

About the Author

Michele Labrut

Americas Correspondent

Michèle Labrut is a long-time Panama resident, a journalist and correspondent, and has continuously covered the maritime sector of Central & Latin America.

Michèle first came to Panama as a press attaché to the French Embassy and then returned to the isthmus as a foreign correspondent in the 1980s.

Author of Seatrade Maritime's annual Panama Maritime Review magazine and of several books, Michèle also wrote for Time magazine, The Miami Herald, NBC News and the Economist Intelligence Unit. She has also collaborated in making several documentaries for the BBC and European and U.S. television networks.

Michèle's profession necessitates a profound knowledge of the country, but her acumen is not from necessity alone, but a genuine passion for Panama.

In 2012 she was awarded the Order of Merit (Knight grade) by the French Government for her services to international journalism and in 2021 the upgrade to Chevalier grade.

Get the latest maritime news, analysis and more delivered to your inbox
Join 12,000+ members of the maritime community

You May Also Like