INTERNATIONAL CONTAINER Terminal Services, Inc. (ICTSI), through Victoria International Container Terminal (VICT), has signed a new enterprise agreement with local unions covering its operations until March 2029.
“This outcome demonstrates our commitment to working collaboratively with our people and unions. This agreement not only delivers meaningful benefits for employees but also provides VICT with the flexibility needed to service our customers and meet the evolving industry demands,” VICT Chief Executive Officer Bruno Porchietto said in a media release on Wednesday.
The listed global port operator said the agreement was secured without any disruption to operations.
The agreement outlines enhanced benefits and conditions for employees, flexible alignment with customer and industry requirements, and an industrial relations framework to support growth and innovation, according to the company.
“The agreement is a positive agreement for everyone involved, giving VICT employees security and improved benefits, while providing the ICTSI subsidiary and its customers the continuity and certainty needed in today’s competitive supply chain environment,” it said.
VICT, which started operations in 2017, is a unit of ICTSI in Melbourne, Australia. It is a fully automated container terminal servicing large vessels.
Last year, VICT logged five million twenty-foot equivalent units since its operations began. ICTSI said previously that this will fuel its commitment to further invest in the terminal to accommodate the increasing demand for shipments.
At the local bourse on Wednesday, shares of the company gained P31.80, or 7.02%, to close at P485 apiece. – Ashley Erika O. Jose
