A division of Philippine port operator International Container Terminal Services (ICTSI) is to run a new 270m2 reefer facility at Davao port in Mindanao.
Cargo handler Davao Integrated Ports and Stevedoring Services Corp. (DIPSSCO) will operate the reefer facility located at the northern portion of the Sasa Wharf.
The facility will aid the growing fruit trade at Davao port, which is the main transit point for the export of Philippine bananas.
Installed by the Philippine Ports Authority it has the capacity to handle a total of 144 reefer containers.
'We are glad that PPA has entrusted the operations and maintenance of this reefer facility to DIPSSCOR. The Port of Davao needs these new reefers because of the thriving banana trade in Mindanao,' said Manuel de Jesus, ICTSI vice president for business development, and DIPSSCOR general manager, speaking to ABS-CBN News.
The operation is the second largest run by ICTSI in the Philippines after its flagship Manila International Container Terminal.
Based in Manila, ICTSI is a leading port management company involved in the operations and development of 21 marine terminals and port projects in 15 countries worldwide.
ICTS recently reported a significant spike in profits on the back of a surge in global trade as the economy recovered from a slump.
The company’s first quarter net income was up 107 per cent to 1bn pesos (US$22.8m) from 500m pesos ($US11m) in the same period last year.
The increase in revenue was brought about by higher volume of transactions in its container terminals, stated ICTSI.
