ICTSI's Mindanao Terminal Welcomes New SITC Service
2024-08-09
The Mindanao Container Terminal (MCT), operated by International Container Terminal Services, Inc. (ICTSI), recently received the inaugural call of SITC's new China-Philippines Express 7 (CXP7) service. This service addresses the growing export volume of fresh produce, including pineapples and bananas from Bukidnon. The CXP7 service covers the ports of Shanghai, Wenzhou, Manila (South), Cebu, and Cagayan de Oro (MCT). MCT receives calls from this service every Monday.
The maiden voyage was marked by the arrival of the 1,800-twenty-foot equivalent unit (TEU) vessel, SITC Haode. ICTSI emphasizes MCT's critical role as a trade facilitator in Southern Philippines, supporting the growth of the Mindanao agricultural export sector.
In the January-to-March period, ICTSI's attributable net income increased to $209.88 million, a significant 35.7% rise compared to the same period last year. The Company's combined revenues also grew to $637.65 million, representing an 11.4% increase from the previous year.