Port Operator ICTSI Is Unfazed by Trade Turmoil, Eyes New Deals [BNN Bloomberg (Canada)]
A.P MOLLER-MRS UNS/ADR (AMKBY)
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Source: BNN Bloomberg
The Philippines' largest port operator is in the early stages of exploring opportunities in West Africa and Central America, while a deal is actively progressing in Cambodia, ICTSI Executive Vice President Christian Gonzalez said in an interview on Monday. The projects are mostly government concessions, he said. “We're always going to be aggressively looking at growing through M&A,” said Gonzalez, adding that the company is undeterred by high interest rates as it has ample cashflow to bankroll the deals. ICTSI's appetite for acquisitions, particularly in emerging markets, highlights the pockets of growth that could yet be tapped amid a lackluster global trade landscape. Geopolitical conflict has spurred higher fuel costs and jammed supply chains around the Red Sea, while weak demand for goods persists in the US and Europe. Read More: Taiwan Quake, Baltimore Bridge Collapse Pose Threat to Trade The tepid single-digit growth in global container trade volumes could persist for y
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- 2/21/24 - Sanford C. Bernstein