AsiaPorts and Logistics

ICTSI takes over Indonesian port

Manila-headquartered International Container Terminal Services Inc (ICTSI) is acquiring a majority stake in an Indonesian multipurpose terminal operator for $46.5m.

ICTSI has reached a deal with Indo Port Holding and Eastlog Holding to buy a 66.7% stake in PT East Java Development, which holds the rights, with 47 years remaining in its concession, to operate a terminal in Lamongan Regency, East Java.

ICTSI has operations in six continents. It operates 33 terminals across 20 countries.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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