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International Container Terminal Services Inc. said Monday net income climbed 36 percent in the first quarter of 2024 on higher operating income, interest and non-recurring income from the settlement of legal claims.
ICTSI’s revenue from port operations amounted to $637.65 million in the first quarter, an increase of 11 percent from $572.25 million reported last year. “Volume growth mainly from new services and improvement in trade activities at certain terminals was offset by the impact of expiration of the concession contract at Pakistan International Container Terminal in Karachi, Pakistan, deconsolidation of OJA in Jakarta, Indonesia, termination of cargo handling operations at PT Makassar Terminal Services in Makassar, Indonesia and decrease in volume in Contecon Guayaquil S.A. in Guayaquil, Ecuador,” ICTSI said.
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