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Elijah Felice Rosales - The Philippine Star
March 24, 2026 | 12:00am
In a disclosure to the Philippine Stock Exchange, ICTSI said it is divesting its 51-percent equity in its Chinese subsidiary Yantai International Container Terminal Ltd. (YICTL).
STAR / File
MANILA, Philippines — Port giant International Container Terminal Services Inc. (ICTSI) has sold its majority stake in a Chinese project for close to P6.8 billion.
In a disclosure to the Philippine Stock Exchange, ICTSI said it is divesting its 51-percent equity in its Chinese subsidiary Yantai International Container Terminal Ltd. (YICTL).
ICTSI signed an equity interest transfer agreement, worth 773.21 million Chinese yuan, or about P6.76 billion, with Yantai Port Holdings Co. Ltd. selling its stake in one of China’s busiest ports.
ICTSI said it has given up its majority stake in YICTL as it plans to focus on concessions where it maintains control over critical aspects of the business. In particular, the company wants final say on commercial activities and long-term development.
With the transaction, ICTSI said it would be able to strengthen operational efficiency now that it has one less terminal to spend on. It aims to redirect resources to existing terminals and projects on the pipeline, especially as it is working to expand this year.
ICTSI’s majority interest in YICTL required it to shoulder the larger part of operational expenses on the terminal in Shandong, China.
The remaining equity in YICTL was held by Yantai Port Holdings (36.5 percent) and DP World China (Yantai) Ltd. (12.5 percent).
The sale, however, involved both ICTSI and DP World China giving up their shares in YICTL to place the entire ownership in Yantai Port Holdings.
ICTSI, owned by richest Filipino Enrique Razon Jr., is in the process of evaluating its portfolio in a risky landscape.
The global logistics industry is currently scrambling to find alternative shipping routes to sidestep the geopolitical violence in the Middle East.
Still, ICTSI is poised for another year of double-digit growth. The company manages one of the most diverse portfolios among port giants, mitigating the impact of the geopolitical situation in the Middle East.
For 2026, ICTSI increased its budget to $740 million for capital expenditures, as it scales up the capacity of existing projects and stays on the hunt for possible acquisitions.
