ICTSI’s Poland operations extended for 30 years

MANILA, Philippines — Razon-led International Container Terminal Services Inc. (ICTSI) has renewed its lease contract in its $100 million Poland operations, extending its tenure in the Port of Gdynia until 2053.

In a regulatory filing, ICTSI said it entered into a new 30-year lease with the Port of Gdynia SA for the Baltic Container Terminal (BCT), allowing the company to prolong its Poland services until 2053.

ICTSI won as the preferred bidder for the new lease, extending its tenure as the manager of the BCT that it owns 100 percent.

Prior to this, ICTSI has operated in the Port of Gydnia since 2003, investing at least $100 million in the BCT and its facilities. Further, the port manager has spent for the expansion of manpower and improvement of services in the Poland terminal.

Moving ahead, ICTSI wants to exceed its initial investments in the BCT with ongoing upgrades in the port seen breaching $100 million. For one, the Razon-led firm is undertaking renovations that would facilitate the access and enhance the handling of large-scale vessels.

With the first stage done, BCT can now administer the entry of ships with a length overall of up to 366 meters.

ICTSI vowed that subsequent developments will follow in the BCT that would enable the port to facilitate vessels with a length overall of as much as 400 meters.

BCT CEO Wojciech Szymulewicz said BCT plays a significant role in Poland’s logistics flow, as the terminal functions as a maritime gateway for feeder services.

In particular, the BCT relays cargo to and from the north of Europe, as well as serves as a main port of call for direct services.