Specifically, ICTSI disclosed through a stock exchange filing that it has signed an agreement with African Infrastructure Investment Managers (“AIIM”) to acquire 100% of the shares of TLG. TLG is an integrated port and cargo handling services provider with operations across Mozambique, Namibia, and South Africa.

ICTSI stated that the completion of the transaction is subject to customary conditions precedent, including regulatory approvals.

Of particular note, ICTSI achieved double-digit growth in both revenue and net profit in the first half of 2026.

ICTSI Chairman and President Enrique K. Razon Jr. commented, “ICTSI delivered a strong first-half performance, with double-digit growth in volume, revenue, and profit, supported by contributions from new terminals and stable performance from the existing portfolio.”

He noted, “ICTSI remains focused on executing its expansion plans, integrating new businesses, and maintaining financial discipline. ICTSI continues to invest to strengthen capabilities and service levels across the portfolio, while supporting sustainable long-term growth.”

Specifically, in the first half of 2026, ICTSI reported revenue of USD 1.92 billion, a year-on-year increase of 27.1%; EBITDA of USD 1.23 billion, up 24.3% year-on-year; and net profit of USD 640 million, a year-on-year increase of 22.4%.

Container throughput in the first half of 2026 grew by 16% year-on-year to 8.12 million TEUs. ICTSI attributed this primarily to the commencement of operations at the Durban Container Terminal Pier 2 in South Africa on 1 January 2026.

In fact, according to follow-up coverage by ShippingChina.com, in July 2023, following a rigorous and transparent tender process, Transnet, South Africa’s state-owned rail and port operator, selected ICTSI as the preferred bidder for a 25-year concession to operate the Durban Container Terminal Pier 2. During the bidding process, ICTSI’s offer exceeded that of Maersk Terminals by USD 100 million, winning the tender, with Maersk Terminals finishing as the runner-up. Subsequently, Maersk Terminals filed a lawsuit challenging the tender process. It was not until October 2025 that a South African court dismissed Maersk Terminals’ lawsuit, clearing the way for the formal signing of the agreement.