ICTSI first quarter volumes helped by new Brazil terminal
Contributions from a new terminal in Rio de Janeiro in Brazil and new services at other terminals helps ICTSI maintain volumes, but this was offset by a decline in trade activities due to the impact of the coronavirus pandemic on global trade. The chairman warns much greater effort is needed to bring back some degree of normality, while the group cuts capital expenditure for the rest of 2020 to $100m
Group’s Asian terminals first to be hit by virus impact, while Europe, Middle East and Africa and Americas terminals started to show signs of weakness in March