Wedoany.com Report on Feb 7th, Philippine port operator ICTSI recently announced that its subsidiary, Victoria International Container Terminal Ltd. (VICT), has successfully secured an extension for its operating rights at Webb Dock East in the Port of Melbourne. According to the new agreement, VICT will continue to be responsible for the operation and management of the terminal until 2066, extending the original contract by 26 years.

As an important maritime hub in Australia, the Port of Melbourne sees Webb Dock East as one of its key operational areas. VICT has been operating this terminal since 2016, and this extension of operating rights reflects the port management's recognition of VICT's operational capabilities. ICTSI stated that the company plans to advance new investment initiatives during the extension period to enhance terminal facilities and service levels.

ICTSI is a globally renowned port operating enterprise with terminal businesses in multiple countries and regions. As its important subsidiary in Australia, VICT's securing of this operating rights extension at the Port of Melbourne will help consolidate ICTSI's market position in the Asia-Pacific region. The terminal operator stated that it will continue to be committed to improving operational efficiency and service quality to meet customer demands.

The conclusion of the operating rights extension agreement provides assurance for the long-term stable operation of Webb Dock East at the Port of Melbourne. VICT indicated that it will proceed with planned terminal facility upgrades and operational optimization efforts to ensure the terminal remains competitive over the coming decades. This arrangement also contributes to promoting the development of the local maritime logistics industry.