ICTSI Inks Deal to Operate Two Papua New Guinea Ports

Illustration; Image Courtesy: ICTSI

Philippine-based International Container Terminal Services, Inc. (ICTSI) has signed two 25-year agreements to operate the international ports in Motukea and Lae in Papua New Guinea (PNG).

ICTSI said that the terminal operating agreements were signed by ICTSI’s PNG subsidiaries, Motukea International Terminal Limited (MITL) and South Pacific International Container Terminal Limited (SPICTL), with the PNG state-owned enterprise, PNG Ports Corporation Limited (PNGPCL).

The contract scope covers the operation, management, and development of the two ports.

As agreed, MITL shall provide and deploy cranes, berth and yard equipment for the Port of Motukea. Newly developed and situated near Port Moresby, the Port of Motukea is envisioned to service all port and shipping activities previously done at Port Moresby.

On the other hand, SPICTL shall provide and deploy cranes, berth and yard equipment at the Port of Lae. The port is the largest container handling facility in PNG.

Just last week, ICTSI went on to buy a 34.83% stake in the Manila North Harbour Port Incorporated (MNHPI) for USD 34.5 million.

The port operator said the purchase would allow ICTSI to “contribute its experience, expertise and state-of the-art technology and infrastructure” to enhance the operational efficiency of the domestic terminal in the Port of Manila and improve the traffic condition in Metro Manila.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

Maritime Reconnaissance and Surveillance Technology

Over the past few years, maritime intelligence gathering and ISR capabilities have returned to the forefront of the defence industry…

read more >

BWMTech

Clarify regulations. Plan BWMS integration. Prevent operational failure…

read more >

Mega Cargo Show 2018

The focus of the event is to bring all connected with cargo fraternity on a single platform…

read more >

Vietship 2018

Vietship is the largest and longest established exhibition in Vietnam featuring all aspect of Shipbuilding, Shipping and Offshore Technology.

Since its first event in 2002, Vietship has become the convergence and platform of advanced technologies regional and worldwide in shipbuilding and ship repair, marine equipment, waterway transportation and services, marine and offshore engineering.

After 16 years of eight consecutive editions, Vietship has affirm itself as an important event in enhancing cooperation and development, attracting investments, exchanging technology and creating ideal opportunities for trade promotion in the international maritime industry.

More info

read more >