ICTSI has acquired two additional cranes for their port in Australia.

ICTSI, a publicly traded port operator, announced on Monday that it has acquired two additional automated STS cranes at its Australian port. This expansion will enable the company to accommodate bigger ships.

Bruno Porchietto, CEO of Victoria International Container Terminal (VICT), announced in a press release that their company is fully prepared to accommodate the largest ships that will visit Australia as part of the global trend of increasing ship sizes.

According to him, the pattern will result in an increase in the amount of large ships entering Phillips Bay and docking at VICT. ICTSI is the controlling company of VICT, a technologically advanced container port located in Melbourne.

ICTSI stated that the cranes’ arrival will enable VICT to reach a height of 49 meters, which is 10 meters higher than their current STS cranes.

According to the company, the newly designed cranes have improved productivity due to their 15-meter high lashing platforms. This is in contrast to the previous cranes which only allowed pinning to be done at the quay level.

The company’s expansion project, which involves a total investment of 235 million Australian dollars, will include the purchase of more cranes. This is expected to boost the terminal’s capacity by 1.25 million TEUs (20-foot equivalent units).

On Monday, the company’s shares at the local stock exchange dipped by 20 centavos or 0.1%, closing at P207 each.