ICTSI Secures $1 Billion BDO Loan for Global Port Expansion

 

International Container Terminal Services Inc. (ICTSI) is positioning itself for another phase of international growth after securing a $1-billion, 10-year loan from BDO Unibank Inc.

The financing, disclosed to the Philippine Stock Exchange, will strengthen ICTSI’s capital position as the port operator moves forward with planned investments in the Philippines and overseas markets. The company continues to expand its network by developing new terminals while increasing the capacity of facilities already in operation.

A major component of its domestic expansion is the Manila International Container Terminal (MICT). ICTSI recently obtained a 25-year extension of its concession, extending the agreement’s expiry from 2038 to 2063. As part of the arrangement, the company is required to complete the expansion of MICT’s Berth 8.

The project is expected to equip the terminal to accommodate container ships carrying as many as 18,000 twenty-foot equivalent units. Once completed, the expanded berth will help raise MICT’s annual handling capacity to approximately 3.5 million TEUs.

The investment program also extends beyond the Philippines. ICTSI has identified terminal expansion projects in Brazil, the Democratic Republic of Congo and Mexico, reinforcing its strategy of building capacity across multiple international markets.

The company’s diversified operations have also provided a buffer against disruptions affecting global logistics. Geopolitical tensions in the Middle East, for instance, have contributed to higher operating costs and changes in shipping patterns. ICTSI has responded through measures that include tariff adjustments and the redirection of cargo traffic.

That diversified portfolio has supported the company’s financial performance. ICTSI reported first-half net income of $589.98 million, representing a 22 percent increase from $483.84 million recorded during the same period a year earlier.

Consolidated container volume likewise climbed 16 percent to 8.12 million TEUs, with additional contributions from the company’s operations in Indonesia and South Africa.

ICTSI has allocated $740 million for capital expenditures in 2026. By the end of the first half, $320.05 million of that budget had already been deployed.

With the new financing in place, ICTSI has additional financial capacity to pursue projects that expand terminal throughput, modernize existing facilities and support the company’s growing international port network.