International Container Terminal Services, Inc. (ICTSI) – the rogue Pacific Maritime Association employer operating primarily in Third World ports with one U.S. operation at Terminal 6 in the Port of Portland, OR – reported that company profits shot up 20%
in 2013 over the previous year.
The company said net revenue (profit) rose from $143.2 to $172.4 million in 2013. The company attributed their higher profits to strong revenue growth and better profit
margins at key terminals, including a new operation in Pakistan.
ICTSI is run by Enrique K. Razon, Jr., said to be ranked as the thirdrichest
tycoon in the Philippines with personal wealth estimated by Forbes Magazine at $4.2 billion dollars. Razon acquired his fortune the old-fashioned way – by inheriting the family business.
He serves as Chairman or Director of a dozen companies, and has invested in mining, oil & gas, utilities, real estate, golf courses, resorts and gambling – in addition to container terminals.