BGT wins Chairman’s Cup

Enrique K. Razon Jr. (far right), ICTSI chairman and president, presents the Chairman’s Cup top honor to Romeo Salvador (center), BGT chief executive officer. With them is Hans Ole-Madsen, ICTSI senior vice president and regional head - Europe, Middle East and Africa.

Basra Gateway Terminal (BGT) emerged as International Container Terminal Services, Inc.’s (ICTSI) top-performing business unit for 2023, winning the Chairman’s Cup.

BGT outperformed the rest of the ICTSI Group with an exceptional year marked by all-time highs in volume (up 28 percent), EBITDA (up 35 percent), EBITDA margin of 65 percent, net income (up 45 percent), and repatriations to the parent company.

Manila Multipurpose Terminal, formerly Manila Harbor Center, secured first runner-up due to substantial growth, 30 percent revenue increase, 45 percent EBITDA growth, and a 49 percent net income surge.

Rio Brasil Terminal (RBT) joined the winners’ circle as second runner-up. RBT managed to significantly grow its volumes after acquiring new customers and services, and expanding its landside services.

Contecon Manzanillo, meanwhile, received an honorable mention for its successful yield strategy that increased sustainable yields and mitigated the impact of storage normalization.

Held every March, the Chairman’s Cup recognizes the best-performing terminals in the ICTSI Group for the preceding year.

ICTSI Group officers and terminal heads at the Chairman's Cup awarding ceremony on 12 March