A unit of International Container Terminal Services, Inc. (ICTSI) on Wednesday announced the resumption of its Mindanao-Hong Kong-Taiwan service to meet increased market demand in the region.
In a press release, ICTSI said that Mindanao Container Terminal (MCT) at its container handling facility in Cagayan de Oro is receiving calls from Wan Hai Lines for its Mindanao-Hong Kong-Taiwan service beginning Aug. 3.
“The return of the service is a significant development in our efforts to strengthen regional trade connectivity and support the growing Mindanao economy,” said Aurelio Garcia, chief executive officer of MCT.
“We are thrilled to re-establish this crucial link that makes international trade more efficient and accessible to businesses in Mindanao,” he said.
ICTSI said the return of the service rotation at MCT was due to the increasing market demand and economic activity in Mindanao, which saw an 18% increase in export volume.
During the first call on Aug. 3, MCT handled a total of 237 containers filled with commodities, including coconut byproducts, falcata lumber, and wastepaper.
“MCT looks ahead to a fruitful collaboration with Wan Hai and the mutual benefits that the reinstated service will bring to the region’s economy,” MCT said.
MCT is a subsidiary of ICTSI that operates the container terminal at the PHIVIDEC Industrial Estate in Tagoloan, Misamis Oriental.
At the stock exchange on Wednesday, shares in ICTSI closed 3.01% or P6.2 higher to P212 apiece. — Justine Irish D. Tabile