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Manila Bulletin devider Business devider The Stock Market devider Razon scores 26-year win for ICTSI's Australia operations

Razon scores 26-year win for ICTSI's Australia operations

Published Jun 26, 2026 03:02 pm
Enrique K. Razon
Enrique K. Razon
Razon-led global port operator International Container Terminal Services Inc. (ICTSI) has secured a 26-year extension to operate one of the most technologically advanced terminals in the world, enabling it to meet growing logistics demand in Australia.
In a disclosure to the Philippine Stock Exchange, ICTSI stated that it completed all required conditions and regulatory approvals on June 25 to extend the operating agreement for its Webb Dock East terminal in the Port of Melbourne.
The extension pushes the expiry of ICTSI’s contract from 2040 to 2066, increasing the remaining life of the concession period to a total of 40 years.
ICTSI has been managing the Victoria International Container Terminal (VICT) at Webb Dock East since 2014. The facility is recognized as Australia’s first fully automated container terminal and one of the most advanced in the world.
As part of its commitment to strengthening VICT, ICTSI is currently undertaking an investment program to ramp up its capacity to 1.6 million twenty-foot equivalent units (TEUs) per year.
At present, the terminal handles more than one million TEUs annually, delivering an additional 33 percent capacity to the Port of Melbourne.
VICT has become a terminal of choice in the Port of Melbourne. Its bay-side location allows for faster turnaround times for imports and exports, as well as easier berthing for larger container ships.
Given its ability to accommodate larger vessels, ICTSI expects VICT to remain well-positioned as the premier gateway to Melbourne, helping meet Australia’s growing trade demands.
The Port of Melbourne has consistently seen upward momentum in trade growth, reaching a record high of $145 billion in trade last year. According to ICTSI, container trade at the port is projected to double over the next 30 years.
Earlier, VICT Chief Executive Officer Bruno Porchietto said that the contract extension reinforces the company’s long-term vision to be a major contributor to the economy of the state of Victoria.
“The extension allows us to continue investing in capacity, systems, and people to support the state's trade requirements over the long term, while providing shipping lines and cargo owners with greater operating continuity and certainty,” Porchietto said.

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International Container Terminal Services Inc. (ICTSI)
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