ICTSI said that most of the movement was recorded at the Manila North Harbor Container Port Inc., which is among the country’s busiest ports. It is set to implement a 10-percent increase in cranage rates this week.
“The macroeconomic and geopolitical climate continues to be uncertain but these results give us continued confidence in our financial and operational resilience,” ICTSI chair and president Enrique Razon Jr. said. ICTSI has earmarked $400 million this year for port expansion, equipment upgrade and maintenance requirements.
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