Arthur Fuentes

Article (news)

ICTSI

ABS-CBN News

MANILA – The Australian unit of ICTSI has secured a contract extension for Melbourne&#x27;s port, the company said on Friday.Victoria International Container Terminal (VICT), a wholly owned subsidiary of the Manila-based International Container Terminal Services Inc., signed a 26-year extension with the Port of Melbourne (PoM) to manage the Webb Dock East terminal. The new agreement pushes the expiry date from 2040 to 2066.The extension comes as the port experiences a period of rapid expansion, handling approximately $154 billion in trade during the 2025 fiscal year. With container volumes forecast to double over the next 30 years, ICTSI is currently midway through a massive investment program slated for completion in late 2027.&quot;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,&quot; said VICT Chief Executive Officer Bruno Porchietto.The upgrade program includes the addition of a neo-Panamax ship-to-shore crane and hybrid automated straddle carriers to bolster efficiency.Port of Melbourne CEO Saul Cannon described the deal as a &quot;sign of great confidence&quot; in the facility&#x27;s future.“We welcome the investment VICT is making in the terminal and its shared commitment to keeping our port as the freight capital of Australia,” Cannon said.The Philippine-listed parent company, ICTSI, which is owned by billionaire Enrique Razon, has been a major player in Melbourne since the original lease was inked in 2014.

Victoria International Container Terminal, a wholly owned subsidiary of the Manila-based ICTSI, signed a 26-year extension with the Port of Melbourne.

Victoria International Container Terminal, a wholly owned subsidiary of the Manila-based ICTSI, signed a 26-year extension with the Port of Melbourne.

ICTSI's Australian unit gets contract extension for Melbourne port

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ICTSI's Australian unit gets contract extension for Melbourne port

Arthur Fuentes,

ABS-CBN News

Published February 06, 2026 03:20 PM PHT

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ICTSI

Australia

Melbourne port

Enrique Razon

VICT

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