ICTSI offloads China port, a move toward total control

Enrique Razon-led port giant completes the ₱6.763 billion sale of its Yantai stake as it doubles down on high-autonomy global ventures.

Enrique Razon Jr.-led International Container Terminal Services, Inc. (ICTSI) has finalized the sale of its equity stake in a key port in China as it shifts its focus toward ventures where the company exercises greater control.

Company subsidiary ICTSI Hong Kong Ltd. announced the sale of its 51% equity stake in Yantai International Container Terminal Ltd. (YICTL) on March 23. The company sold 384,540,000 shares for RMB 2.01 each, totaling RMB 773 million (₱6.763 billion).

YICTL operates the Port of Yantai in Shandong Province, China. The port connects to the Yellow Sea and serves as a crucial hub for South Korea and neighboring nations in North Asia.

Under the agreement, ICTSI’s stake in YICTL was sold to Yantai Port Holdings, which increased its ownership from 36.5% to 87.5%. The remaining 12.5% of the venture is held by DP World China Yantai.

Record-breaking 2025 Performance

ICTSI said it aims to focus on contracts where it can exercise greater control over business operations and long-term development. The company posted $1.13 billion (₱68.028 billion) in net income in 2025, up 20% from the previous year, driven by its focused international expansion strategy. 

Razon, the company’s CEO, topped the list of richest Filipinos in Forbes’ Billionaires List for 2025, ranking 175th globally with a net worth of $16.5 billion (₱971 billion).

 

 

Port giant ICTSI has finalized the ₱6.763 billion sale of its 51% stake in China’s Yantai International Container Terminal, pivoting toward global projects where it can exercise total operational control.

 

 

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