INDEPENDENT maritime research and consulting firm Drewry has ranked Philippines' International Container Terminal Services Inc (ICTSI) as the eighth largest among the top independent global terminal operators (GTOs) with a portfolio spanning all six continents.

Drewry's Global Container Terminal Operators Annual Review and Forecast for 2021-2022 ranked ICTSI at eighth among GTOs in terms of equity TEU based on the consolidated 10.1 million TEU it handled in 2020, as GTOs handled 66 per cent of the global port volumes that year.

ICTSI's consolidated throughput in 2021 increased 10 per cent to 11.1 million TEUs due to the reopening of markets. The report also ranks the firm as the largest wholly-independent port operator. It currently operates 33 terminals in 20 countries, mostly in emerging markets, standing with Hutchison Ports and DP World as the most geographically diverse among GTOs, reports The Manila Times.

Despite the slowdown of global trade during the past two years due to the pandemic, ICTSI continued to expand its operations with the addition of two new multipurpose terminals in Nigeria and Cameroon. The company also expanded its existing operation in Rio de Janeiro by adding rail logistics to its services through the long-term lease of an intermodal terminal in Barra Mansa.

ICTSI also allotted US$250 million in capital expenditure for 2021 to bankroll new developments in its flagship Manila International Container Terminal, Matadi Gateway Terminal in the Democratic Republic of the Congo and the Victoria International Container Terminal in Australia.

"ICTSI takes pride in being an independent stevedore with no ties to shipping lines, state-owned enterprises and other industry stakeholders. Compared to hybrid operators, ICTSI's independent nature allows it to create value across its terminals by improving efficiency through the implementation of its best practices," the company said in a statement.