International Container Terminal Services Inc. secured a 20-year contract to operate a container terminal in Sudan.
The port operator said wholly-owned unit ICTSI Middle East DMCC signed a concession agreement with Sea Ports Corporation of Sudan to operate, manage and develop the South Port Container Terminal for a 20-year period at the port of Port Sudan, Sudan.
ICTSI will assume the operational and development responsibility for SPC’s existing container terminal infrastructure and terminal handling equipment, while SPC will become the landlord and supervisory authority of the terminal.
The transfer of the facilities to ICTSI management will take place in the first quarter of 2019.
The SPCT in 2017 had a throughput of 470,000 TEU against the capacity in excess of 1 million TEU.
SPCT has state-of-the-art container terminal assets. It has a land area of 180 hectares and 1,200 meters quay wall, with a design water depth of up to 16 meters and, thus, the capability to receive global shipping lines’ largest container vessels.
It has equipment that include 8 Ship-to-Shore Gantry Cranes and an extensive range of yard handling equipment, including more than 20 Rubber-Tired-Gantry Cranes.
ICTSI booked a net income of $153.3 million in January to September last year, up 3 percent from $149.3 million year-on-year.
ICTSI said the profit in the third quarter climbed 22 percent to $55.6 million from $45.7 million a year earlier.
Gross revenues rose 10 percent to $1.005 billion in the nine-month period from $918.3 million in the same period last year. Third-quarter revenues reached $344 million, up 9 percent from $314.6 million last year.
ICTSI handled consolidated volume of 7.15 million twenty-foot equivalent units in the first nine months of 2018, or 5 percent more than 6.83 million TEUs it handled in the same period in 2017.