MINDANAO Container Terminal (MCT), operated by the Razon-led International Container Terminal Services, Inc. (ICTSI), has received the inaugural call of SITC’s new China-Philippines Express 7 (CXP7) service.
SITC International Holdings Co. Ltd. is a major Chinese logistics and shipping company specializing in containerized cargo.
“SITC’s new service is designed to meet the growing demand for increased calls at MCT that will cater to the needs of pineapple and banana shippers for timely exports to China,” said Aurelio Garcia, MCT chief executive officer.
The CXP7 service covers the ports of Shanghai, Wenzhou, Manila (South), Cebu, and Cagayan de Oro (MCT), with MCT receiving calls every Monday.
The maiden voyage was marked by the arrival of the 1,800-twenty-foot equivalent unit (TEU) vessel, SITC Haode.
“The new service underscores MCT’s critical role as a trade facilitator in Southern Philippines, reflecting its commitment to enhancing offerings and supporting the growth of the Mindanao’s agricultural export sector,” ICTSI said.
For the January-to-March period, ICTSI’s attributable net income rose to $209.88 million, a 35.7% increase from $164.61 million in the same period last year.
The company’s combined revenues increased to $637.65 million, up 11.4% from $572.25 million a year earlier, according to its financial report.
The listed port operator reported handling a total volume of 3.09 million TEUs in the first quarter, compared to 3.1 million TEUs in the same period last year. — A.E.O. Jose
