ICTSI Secures 25-Year Extension for Subic Bay Container Terminals

Philippines-based Subic Bay International Terminals Corp. (SBICT) and ICTSI Subic Inc. (ISI), both subsidiaries of International Container Terminal Services, Inc. (ICTSI), have secured a 25-year extension of their concession agreements with the Subic Bay Metropolitan Authority (SBMA) for the continued operation of New Container Terminals 1 and 2 through 2058.

The extensions were formalized last Friday at ACEA Subic Beach Resort with Christian R. Gonzalez, ICTSI executive vice president, and Eduardo Jose L. Aliño, SBMA chairman and administrator, signing the agreement.

As part of the agreement, SBITC will invest more than USD130 million in civil infrastructure and equipment upgrades, including replacing the terminal’s four existing quay cranes and adding a fifth crane, while also integrating more hybrid rubber-tired gantry cranes. These improvements aim to increase the combined annual capacity of the terminals from 600,000 TEUs to one million TEUs.

“We are extremely thankful and grateful to SBMA for trusting us and treating us as the right partner to continue until 2058. Across all the 30-plus terminals we operate around the world, no matter how difficult the place, no matter how challenging, the one thing that represents the trust in ICTSI and the partnership with the local authorities–the government and the regulators–is seeing your contract extended,” said Gonzalez.

He added, “Extending our partnership with SBMA reaffirms ICTSI’s long-term commitment to support trade growth and economic development in Northern and Central Luzon. Our investments will further strengthen Subic Bay International Terminals’ position as a vital gateway, ensuring it remains a competitive and efficient logistics hub well into the future.”

Strategically located within the Subic Bay Freeport Zone, the terminals provide direct access to major intra-Asia shipping routes and national highways, connecting both domestic and global markets. They serve industries in the Subic and Clark freeports, nearby economic zones, and the surrounding provinces of Pampanga, Bataan, Tarlac, and La Union.

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