ICTSI 9-month income rises 20%, reaches $898.89 million
UNLIKE competitors owned by major shipping conglomerates (such as Maersk's APM Terminals or MSC's Terminal Investment Limited), ICTSI is the world's largest independent container terminal operator. Because it does not compete with its customers' shipping lines, rival maritime alliances are comfortable docking at ICTSI facilities, maximizing berth utilization and equipment efficiency.
Photograph courtesy of ICTSI
International Container Terminal Services Inc. (ICTSI) posted a 20 percent increase in net income attributable to equity holders to $898.89 million in the first nine months of 2026, supported by higher operating income and contributions from newly added terminals.
The port operator’s revenue rose 24 percent to $2.90 billion from $2.34 billion a year earlier, while earnings before interest, taxes, depreciation and amortization (EBITDA) climbed 21 percent to $1.87 billion.
Excluding a nonrecurring charge related to the sale of Yantai International Container Terminal in China, net income would have increased 22 percent to $913.59 million. Diluted earnings per share also rose 21 percent to $0.442 from $0.365.
ICTSI handled 12.11 million twenty-foot equivalent units (TEUs) during the period, up 13 percent from 10.69 million TEUs in the same period last year.
Improved trade activity
The increase was mainly driven by the addition of Durban Gateway Terminal in South Africa and Batu Ampar Container Terminal in Indonesia, alongside improved trade activity in Asia and the Americas.
However, excluding the contributions of the two new terminals and the discontinued Yantai operation, consolidated container volume would have grown by only 0.1 percent.
Double-digit growth in volumes
ICTSI Chairman and President Enrique K. Razon Jr. said the company recorded double-digit growth in volumes, revenues and earnings, with newly added terminals contributing to its performance.
“Our diversified portfolio continues to provide resilience in a more challenging operating environment,” Razon said.
He added that the company remains focused on integrating new terminals and expanding capacity across its network.
“Disciplined capital allocation and operational execution remain central to delivering sustainable value for our shareholders,” he said.
In the third quarter alone, net income increased 15 percent to $308.90 million, while revenue rose 19 percent to $984.05 million. EBITDA climbed 15 percent to $635.74 million.
ICTSI said it plans to spend an estimated $740 million in capital expenditures this year, mainly for terminal expansions, equipment upgrades and maintenance across its global network.