Shares of International Container Terminal Services, Inc. (ICTSI) climbed last week after the company secured a 25-year concession to upgrade and operate South Africa’s Durban Container Terminal Pier 2, the country’s busiest port facility.
ICTSI’s stock rose 3.9% to P610, making it the second-most actively traded issue on the Philippine Stock Exchange, with 6.23 million shares worth P3.74 billion changing hands. The stock has surged 58% since end-2024, far outperforming the broader market.
The rally followed the signing of the concession with state-owned Transnet, under which ICTSI will expand the terminal’s capacity to 2.8 million TEUs through modernization and new equipment, with project rollout set to begin in January 2026.
Analysts said initial returns may be modest but are expected to improve over time, while noting execution, labor, and regulatory risks. Still, ICTSI’s strong overseas exposure and global rate cuts continue to support positive investor sentiment.
