ICTSI shrugs off war risks, to invest $740 million this year

March 6, 2026 | 12:00am

MANILA, Philippines —   Port giant International Container Terminal Services Inc. (ICTSI) is loading up on its capital expenditures this year, shrugging off geopolitical concerns as it moves to build up its global portfolio.

ICTSI said it is hiking its capex by 14 percent to $740 million this year, from $650.44 million in 2025, to sustain infrastructure expansion amid geopolitical conflicts.

In the Philippines, ICTSI is expanding the capacity of its domestic terminals, including the Manila International Container Terminal and Manila North Harbor Port Inc.

Globally, ICTSI is completing expansion projects for terminals in Brazil, Democratic Republic of Congo and Mexico. Likewise, the company is gearing up for new projects in Australia, Ecuador, Honduras and Mexico to capitalize on growth opportunities in these countries.

ICTSI chairman and president Enrique Razon Jr. said the company is ready to invest in new and expansion projects to further diversify its revenue sources. He assured shareholders that ICTSI is selective in choosing where to expand next as part of financial discipline measures.

The global logistics industry is dealing with another wave of uncertainty, as it absorbs the impact of escalating tensions in the Middle East.

ICTSI booked a 23-percent spike in profit to $1.05 billion last year, from $849.8 million in 2024, as revenue grew faster than expenses.

Revenue swelled by 18 percent to $3.23 billion, while expenses surged by 11 percent to $807.08 million, allowing ICTSI to record another year of growth.

Further, ICTSI gained from the resilience of global trade in the face of protectionist resurgence. In 2025, US President Donald J. Trump shook the multilateral trading system again by imposing higher tariffs even on trading allies, including the Philippines.

In spite of this, ICTSI managed to overcome the impact of such policies because its portfolio was so expansive it mitigated risk exposure. Given this, ICTSI’s consolidated volume improved by 11 percent to 14.5 million twenty-foot equivalent units (TEUs), propelled by the recovery of trade activities in Latin America.

Razon said the increase in ICTSI’s consolidated volume shows that the company has established customer relationships that could weather external risks.

ICTSI is one of the world’s largest port players in the 50,000 to 3.5 million TEU per year range, as its portfolio comprises terminals across six continents.