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International Container Terminal Services Inc. (ICTSI) announced today that its subsidiary Victoria International Container Terminal Ltd. (VICT) has extended the operations and management contract for the Webb Dock East Terminal at the Port of Melbourne by 26 years. This agreement shifts the original contract end date from 2040 to 2066, securing a remaining contract duration of 40 years for what the company claims is Australia’s largest general cargo and container port.
Investments in the Future
Since the initial contract signing in 2014, ICTSI has invested in the infrastructure and operations of VICT. As part of a current investment program set to be completed by the end of 2027, several innovations are planned. This includes the acquisition of a new neo-Panamax crane, which will be used for handling larger vessels. Additionally, the purchase of four hybrid automated straddle carriers and the expansion of two container stacking blocks are also planned.
