Posted on March 23, 2026
Enrique K. Razon-led International Container Terminal Services Inc. (ICTSI) has sold its controlling stake in Yantai International Container Terminal Ltd. (YICTL) to its state-owned partner Yantai Port Holdings Co. Ltd. for about ₱6.7 billion due to lack of full control.
YICTL, a joint venture (JV) in which ICTSI Hong Kong Ltd. (IHKL) holds a 51-percent majority equity interest, operates and manages a port terminal in China’s Shandong province.
“After a successful 20 years in Yantai, ICTSI deems the sale of YICTL in keeping with the ICTSI Group’s long-term strategy of focusing on concession contracts where ICTSI has control over critical aspects of the business, particularly with regards to long-term development and commercial activities, among others,” the firm said.
On March 23, ICTSI, through its wholly owned subsidiary IHKL, signed an equity interest transfer agreement with Yantai Port Holdings in connection with the sale of its 51-percent equity interest in YICTL, the company’s subsidiary in Yantai, China.
Port terminal in Shandong Province, People’s Republic of China operated by Yantai International Container Terminal Ltd.
The remaining equity in YICTL is held by state-owned Yantai Port Holdings, with 36.5 percent, and DP World China (Yantai) Ltd. (DPW), with 12.5 percent. DPW also transferred its shares to Yantai Port Holdings.
ICTSI said it sold its 384.54 million shares in YICTL for 2.01 Chinese renminbi per share, for a total of 773.21 million renminbi in cash. The price was determined by an independent appraiser, as set forth in the valuation report.
Yantai is located at the eastern tip of Shandong Peninsula, bordering Yellow Sea and Bohai Bay. The port area consists of five parts: Zhifu Bay, Western Port, Penglai Port, Longkou Port, and Shougang Port.
The port lies across a heavily industrial base in northern China, as well as near South Korea and Japan. The terminal primarily handles containerized cargo. It also handles roll-on/roll-off (ro-ro), bulk, and break-bulk cargo.
Shandong is one of China’s economic powerhouses, with manufacturing and agriculture helping drive growth. YICTL’s international-standard operations support the province’s vegetable and fruit trade, with the port handling fresh produce such as Yantai apples for export.
In 2014, the Chinese government approved the consolidation and restructuring of port services in Yantai, and ICTSI purchased a 51-percent stake in DP World Yantai Co. Ltd., which handles foreign cargo. DP World Yantai was later renamed YICTL.
