THE country's largest port operator has bagged another offshore contract following a competitive bidding, and this time the container cargo terminal in Naha, Okinawa, Japan.
In its recent report to the Philippines Stock Exchange, International Container Terminal Services Inc. (ICTSI) said the contract was awarded by the Naha Port Authority (NPA).
The NHA's decision came after the Japanese state-run port agency accepted ICTSI's proposal to operate the port, particularly Terminals 9 and 10.
The NHA was jointly established in April 2002 by the Okinawa Prefecture and the governments of Naha and Urasoe cities to strengthen port administration and utilise
port infrastructure for economic development.
Naha, located east of Chinese ports facing the East China Sea, is considered ideally situated to redirect China's increasing international container traffic to the US and Europe.
Naha port's Terminal 9 measures 14 meters deep and 300 meters long. A new deeper-water Terminal 10 measuring 15 meters deep and 300 meters long will be operational in April 2005.
An additional terminal, deeper than 15 meters and 350 meters long, is planned as an extension for a future increase in container traffic. Two 15- to 16-meter deep terminals in the Urasoe area are also in the works.
ICTSI executive vice-president Edgardo Abesamis said the Naha port will be run by the company's newly formed Japanese subsidiary, the Naha International Container Terminal Inc (NICTI). NICTI is 60% owned by ICTSI and 40% by six Japanese stevedoring companies.
Abesamis said the NHA and NICTI will sign this month the basic agreement and later the lease agreement over the terminals once it is approved by the Office of the
Japanese Prime Minister.
ICTSI also operates container terminals in the ports of Suape, Brazil, and Gdynia, Poland, in addition to hometown ports in North Harbor, Subic and Bauan in Batangas.
