Quantcast
Saturday , August 19 2017
Breaking News
Home / Ports and Shipping / ICTSI invests $35 million on Manila Terminal extension
ICTSI invests $35 million on Manila Terminal extension

ICTSI invests $35 million on Manila Terminal extension

PHILIPPINES:  “On completion, the entire area of Phase 1 will store 6,500 20-foot equivalent units [TEU],” ICTSI said. The full development, estimated to be completed in 20 months, will add 500,000 TEUs of yard capacity to the MICT.

The new yard is part of ICTSI’s $35-million (P1.6-billion) expansion project for the MICT aimed at immediately addressing growing volumes at the Port of Manila.

Meanwhile, the government urged all shipping lines to publicly declare standing shipping rates.  “We are requesting the shipping lines to disclose to us their rates. We can publish for you [shipping lines],” Cabinet Secretary Jose Almendras said during the Manila Ports Forum at the Diamond Hotel in Manila City.

The forum, organized by the Trade Department, is expected to rationalize port and shipping costs and address the concerns of all the stakeholders with business at the ports including importers.

Both exporters and importers complained of “unjustifiable charges” despite the lifting of the truck ban and the easing of congestion inside Manila ports.

Traders said examples of these charges were empty equipment imbalance and handover cost and operation recovery cost that shipping lines continued to impose on shippers.