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ICTSI wins labor dispute case in Port of Portland

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International Container Terminal Services Inc. said Wednesday the United States Court of Appeals in Washington D.C. issued a decision in favor of  the port operator’s subsidiary ICTSI Oregon Inc. over a labor dispute against the International Longshore and Warehouse Union.

“The US Court of Appeals found ILWU guilty of violating federal labor laws and upheld two National Labor Relations Board decisions declaring that ILWU engaged in deliberate work stoppages and slowdowns, made false safety claims, and engaged in other coercive conduct against ICTSI Oregon and its customers,” ICTSI said in a disclosure to the stock exchange.

The NLRB earlier said that for the period September 2012 to June 2013, ILWU members worked in a deliberately slow manner and disrupted productivity at Terminal 6 at the Port of Portland. 

Early this year, ICTSI Oregon and the Port of Portland mutually agreed to terminate a 25-year lease agreement to operate the container facility at the port’s Terminal 6. 

The port will receive $11.45 million in compensation to rebuild business and additional container handling equipment, spare parts and tools at the terminal.

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ICTSI, which is led by businessman Enrique Razon Jr., earlier reported a net income of $149.3 million in January to September, up 5 percent from $141.9 million in the same period last year. 

Excluding the one-time gain on the termination of the sub-concession agreement in Nigeria, consolidated net income attributable to equity holders would have been flat in the first nine months of 2017.  

Gross revenues from port operations in the first nine months increased 10 percent to $918.3 million from $835.0 million reported in the same period in 2016. 

ICTSI handled consolidated volume of 6,836,611 twenty-foot equivalent units in the first nine months of 2017, or 6 percent more than 6,435,192 TEUs handled in the same period in 2016.  

The increase in volume was primarily due to continuing improvement in global trade activities particularly in the emerging markets, continuing ramp-up at ICTSI’s operations in Basra, Iraq, new services at Manzanillo, Mexico and contribution of new terminals in Matadi, DRC and Melbourne, Australia.  Excluding the new terminals, consolidated volume would have increased 5 percent.  

ICTSI’s capital expenditure in the first three quarters of 2017 amounted to $113.5 million, about 47 percent of the $240-million capital expenditure budget for the whole of 2017.

 

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