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ICTSI’s container terminal in Croatia hits 2 million TEU

The Croatian subsidiary of International Container Terminal Services Inc. (ICTSI) has handled a cumulative throughput of 2 million twenty foot-equivalent units (TEUs), just in time for its 10th anniversary.

Adriatic Gate Container Terminal (AGCT) said the volume was “achieved over the course of a decade,” and was pushed further by the successful public-private partnership with Luka Rijeka, Rijeka Port Authority, and the Government of Croatia.

“Two million TEUs in 10 years is a remarkable feat for AGCT. We have been able and continue to attract new services and handle the largest vessels currently calling the Adriatic,” Emmanuel Papagiannakis, AGCT CEO, said in a statement.

AGCT started operating the port in 2011.

“Our rail operations have grown significantly, with our intermodal share increasing to 42 percent and rail volume by more than 50 percent over the last two years. Terminal volume has also more than doubled in the last decade,” Papagiannakis added.

So far, ICTSI has invested over $50 million to modernize the terminal. It also includes the acquisition of new equipment such as quay cranes, rubber tired and rail-mounted gantries, as well as the expansion of the berth and yard, which doubled the terminal’s total annual capacity.

At the height of the pandemic, AGCT’s rail capacity grew threefold with the completion of the new intermodal yard.

Papagiannakis said these developments, along with the adoption of industry best practices, have allowed AGCT to improve the overall efficiency, safety, and processes of its operations.

“We are proud that under ICTSI’s management, AGCT has been able to consolidate its position as the country’s main container terminal and expand further into the hinterlands. Around 70 percent of our volume now comes from outside Croatia – from Central and Southeast Europe, which provides a solid platform for the Port of Rijeka’s future growth and development.”

ICTSI said it is spending $250 million in capital expenditures this year, a third larger than its actual spend in 2020, as it completes the expansion and the construction of its various ports globally.

The company said it has decided to increase its capital spending program for 2021 by 30 percent to $250 million from its actual capital outlays of $198.7 million in 2020.

The budget will be used to complete the expansion of the Manila International Container Terminal Inc., the yard expansion of its port in Matadi, Democratic Republic of Congo, and the new expansion project in Melbourne, Australia.

It will also be used to acquire and upgrade new equipment and for its annual maintenance requirements.

Read full article on BusinessMirror

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