ICTSI sees limited impact from US tariffs

ICTSI said its operations are unlikely to be affected by new US tariffs but acknowledged potential impacts on its Mexico terminal.

During Thursday's annual stockholders' meeting, ICTSI Chairman Enrique K. Razon Jr. noted that it is too early to determine the full extent of possible effects due to President Trump's fluctuating policies.

Mr. Razon highlighted that trade with the US accounts for only 3% of ICTSI's portfolio and any impact on its Mexico terminal could be mitigated by other markets, especially as China looks to diversify its export destinations.

In 2024, ICTSI reported a significant increase in attributable net income by 66.1%, driven mainly by operations in Asia, while handling a total of 13.07 million twenty-foot equivalent units (TEUs) of cargo.

The company plans to spend $580 million this year to expand seaport facilities across its global network, including projects in Batangas, Manila, and Cagayan de Oro in the Philippines.