SEAPORTS

ICTSI, Asian Terminals allowed to raise tariff rates Philippine-based port operator International Container Terminal Services Inc (ICTSI) said today the Philippine Ports Authority had decided to allow a two-step increase in the tariff rate for vessel-related container handling services at the Manila International Container Terminal (MICT) and South Harbour, reported Dow Jones Newswires. The ports authority will allow a two-step increase in the tariff, with a six percent rise from the 2009 level taking effect from November followed by another five percentage point increase in April. Philippine port operators are allowed to apply for tariff increases two years from the last adjustment. ICTSI operates the MICT, while Asian Terminals Inc (ATI) operates the container port in Manila's South Harbour. The two companies had been seeking an increase in the vessel-related container handling services tariff to cover rising operating costs. ICTSI had been seeking a 21 percent increase, while Asian Terminals wanted a 19 percent hike