Homegrown TNC expands global port operations
“If ICTSI is today recognized as one of the greatest in the world in its specific business, it is because it has adapted to the vagaries of the market and has kept an attentive ear with innovative ideas”
What are these places doing in every corner of the world – South Sulawesi in Indonesia; Tanjun Priok in Jakarta; Lae in Papua New Guinea; Yantai in China; Cortes in Honduras; Buenaventura in Colombia; Colima in Mexico; Guayas in Ecuador; Pernambuco in Brazil; Gdnyia in Poland; Umm Qasr in Iraq; Rijeka in Croatia; Batumi in Georgia; Toamasina in Madagascar; and Matadi in the Democratic Republic of Congo – a common point?
And what are these huge companies with global reach – China Cosco Shipping; PSA International; APM terminals; Hutchison Ports; DP World; Terminal Investment Limited; Chinese merchant ports; CMA GGM; SSA Navy; Eurogate; HMM; Evergreen; MOL; NYK; K Line – also in common?
The exotic-sounding locations on five of the world’s seven continents are where a Philippine transnational corporation: International Container Terminal Services Inc., or ICTSI, now operates, while similar weird-sounding corporations operating from various locations around the world are ICTSI’s counterparts in the specialized field of port operations that keep the global economy in balance.
ICTSI’s flagship, of course, is Manila International Container Terminal (MICT), where it first demonstrated its expertise in port operations in 1987 and has now brought that expertise to modern and efficient handling. freight to various locations overseas.
Drewry, the leading shipping and logistics research group, has noticed ICTSI’s growing reputation and now ranks the Philippine company among the top 10 port operators in the world and eighth by volume of cargo handled.
What is remarkable about the rise of ICTSI is that it took the company just over three decades of experience in port operations to become an industry titan with global reach.
Only a few Filipino companies have managed to thrive on the international stage amid intense competition.
If ICTSI is today recognized as one of the greatest in the world in its specific business, it is because it has been able to adapt to the vagaries of the market and keep an attentive ear for innovative ideas.
So what is the secret of ICTSI’s success?
ICTSI’s head of global operations, Christian Gonzalez, who is also ICTSI’s executive vice president, offers a clue.
He explained that profits, while a clear objective, are not the company’s sole objective: “Beyond profitability, ICTSI recognizes the complex role that ports play in the economic development and prosperity of communities in which our ports operate”.
In the places where ICTSI has chosen to put holdings, such as Papua New Guinea, Honduras, DR Congo, Madagascar, you will realize that these are some of the poorest and most underdeveloped countries of the world today.
But the management of ICTSI still decided to settle in these localities in order to help stimulate economic development and allow them to prosper and raise their standard of living.
ICTSI’s phenomenal growth and outward expansion also demonstrate very clearly that port operations, a vital cog in the global economy, are best left in the hands of the private sector rather than the government.
The presence of the conglomerate in remote areas of other countries aims to stimulate trade and economic growth there and contribute to a higher GNP which can lead to poverty reduction and a much better quality of life for the population. .
ICTSI’s efforts to hone its expertise in port operations and help other economies navigate the path to higher economic growth and progress go hand in hand with its commitment to introducing modern technology that provides convenience. , ideal working conditions and unparalleled efficiency where it has expanded its presence.
However, it is on its home ground, where ICTSI has shown its ability to get things done.
At the Manila International Container Port, the conglomerate will spend another $290 million to build another berth that would bring the total berth length to 2,300 meters.
This means that with more ships accommodating there, more cargo and greater trade will do wonders for the struggling Philippine economy in the years to come.
The company’s improvements to MICT are not only evident in the efficient handling of cargo, from huge bulk carriers to container vans that bring all kinds of cargo to end users.
ICTSI’s enhanced digital operations also mean that goods can reach end users faster.
What ICTSI has been doing since 1987 is modernizing port operations not only in the Philippines, but in many places overseas.
Not only does it drive the Philippines’ economic growth on an upward trajectory through modern and efficient port operations, but it also helps the global economy move goods faster and with less hassle.
If you receive the goods you ordered on time, isn’t that the essence of delivery service – or service delivery?
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