INTERNATIONAL Container Terminal Services, Inc. (ICTSI) is adding a new berth in its terminal in Manila worth P15 billion to serve more large foreign vessels.
The project is the eighth berth of the Manila International Container Terminal (MICT) and is beyond ICTSI’s commitments to the Department of Transportation (DoTr) and the Philippine Ports Authority (PPA).
“We are excited to announce the development of Berth 8, which enables us to be in the same league as the world’s top terminals,” ICTSI Vice-President Christian R. Gonzales said in a statement.
“More importantly, this will bring significant economic benefits to the Philippines as we have the added capacity to handle growing trade volumes,” he added.
The new berth will be constructed in phases and is expected to increase MICT’s capability to service foreign ultra container vessels of up to 18,000 twenty-foot equivalent units (TEUs).
Around 400 meters of quay and 12 hectares of yard space will be built under the project, which is expected to add 200,000 TEUs to MICT’s annual capacity and bring it to 3.5 million TEUs.
Once completed, MICT’s total berth length will increase by 21% to 2,300 meters and its annual capacity will make it the country’s largest international gateway, according to ICTSI.
“We thank the DoTr and the PPA for supporting our initiatives and sharing our vision for a vibrant Philippine port and logistics industry that will translate to the overall prosperity of the country,“ said Mr. Gonzales.
To date, MICT is capable of handling neo-Panamax ships through berths 6 and 7, which are both operated by five quay cranes.
A sixth crane is scheduled to arrive in July and will be operational within the year, while Berth 8 will operate with at least four quay cranes, two of which will be delivered in 2025.
Aside from the new berth, ICTSI is also working on the modernization of Berths 1 and 5 which includes the installation of additional reefer racks to accommodate 300 TEUs of reefer cargo.
On Monday, ICTSI shares surged 4.10% or P8 to end at P203 each. — Justine Irish D. Tabile