ICTSI nets 26-year deal extension for Australian unit

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February 7, 2026 | 12:00am

MANILA, Philippines — Port giant International Container Terminal Services Inc. (ICTSI) has landed a 26-year extension for its contract to operate and maintain one of the world’s most technologically-ahead terminals.

ICTSI yesterday said it has signed the 26-year extension for its concession to manage the Webb Dock East in the Port of Melbourne in Australia.

The extension pushes the expiry of ICTSI’s contract in the Webb Dock East to 2066, from 2040, and it effectively increases the remaining life of the concession to 40 years.

ICTSI operates in Australia through its wholly-owned subsidiary Victoria International Container Terminal Ltd. (VICT). The unit operates and maintains Webb Dock East, one of the world’s most technologically-advanced and Australia’s first fully-automated terminal.

ICTSI said it is committed to investing in the upgrade of the terminal in the long term. Currently, the company is undertaking an expansion program that would be completed by late-2027.

Once the project is finished, the terminal will increase capacity to 1.6 million twenty-foot equivalent units (TEUs) per year.

VICT CEO Bruno Porchietto said the contract extension provides some sort of certainty for the terminal’s shareholders, as management will stay in the hands of one group for a long time.

“The extension allows us to continue investing in our capacity, systems and people to support the state’s trade requirements in the long term, while also providing shipping lines and cargo owners with greater operating continuity and certainty,” Porchietto said.

The Port of Melbourne is one of the largest in Australia, handling a record $154 billion in trade last year. Forecasts project that the port would double its value over the next 30 years, and VICT, as the operator of Webb Dock East, will play a crucial role in it.

The Webb Dock East delivers an additional 33-percent capacity to the Port of Melbourne with its capability to handle one million TEUs annually. The terminal is the only one fully-automated in the Southern Hemisphere, allowing it to control ship-to-shore cranes remotely.

ICTSI started operating in Australia in 2014 when the original lease was signed, and it has since invested in the upgrade of Webb Dock East to ensure that capacity meets demand.