[040619.EN.SEA] First 10,010-TEU Vessel Visits ITCSI's Ecuador Unit

THE Ecuador subsidiary of International Container Terminal Services, Inc (ICTSI) handled its first container vessel of 10,010-TEU capacity at the Port of Guayaquil.

n a statement, ICTSI said its Ecuador unit Contecon Guayaquil SA (CGSA) received the 10,010-TEU neo-Panamax ship CMA CGM Cochin, to date the largest ship to dock in Ecuador.

"The vessel's arrival highlights the importance of the recent dredging of the 95-kilometre main access channel leading to the country's primary seaport. With deeper waters, the Port of Guayaquil is the first in Ecuador to accommodate ships of this size - elevating its status as a world-class port," the statement said.

The City of Guayaquil tapped Luxemborg-based Jan De Nul Group last year for the dredging and maintenance of the port's access channel. A deeper channel allows a port to receive larger container vessels.

"The dredging of the access channel paved the way for the arrival of these ships, which is something we look forward to as a huge boost to the local and national economy," CGSA CEO Jose Antonio Contreras said.

ICTSI, through CGSA, was awarded the 20-year concession in 2007 to operate the container and multipurpose terminals at the Guayaquil. The port handles 85 per cent of Ecuador's imports and exports, and is a common gateway for trading banana, shrimp, fish, cocoa and wood.

The port operator posted attributable net income gains of 77 per cent in the first quarter to US$72.4 million on the back of strong operating income and lower financing charges.

The company is setting capital expenditure at $380 million this year to expand its terminals in Manila, Mexico and Iraq and fund the acquisition of new equipment and maintenance works, reports Manila's BusinessWorld Online.

Source : HKSG.