ICTSI secures 25-year concession to operate at Iloilo Port porttechnology.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from porttechnology.org Daily Mail and Mail on Sunday newspapers.
INTERNATIONAL Container Terminal Services Inc. (ICTSI) has been awarded a 25-year concession by the Philippine Ports Authority (PPA) to develop and operate the Iloilo Commercial Port Complex (ICPC) in Panay, Western Visayas.
The shipping and logistics industry is on the cusp of a transformation driven by new technologies and modernization, which will have a profound impact on the Philippines economic growth. The international shipping industry after all is the lifeblood of the global economy, responsible for the carriage of around 90 percent of world trade.
The Philippine Ports Authority has justified the implementation of new tariffs in the ports of Tacloban, Ormoc and other ports in Region VIII, which the National Economic and Development Authority regional council had asked to suspend following appeals from business groups.