THE net income of port operator International Container Terminal Services Inc. (ICTSI) surged in the first three quarters as it saw higher revenue and increased volume from port operations during the period.

In a regulatory filing on Thursday, the Razon-led firm reported a nine-month attributable income of $316.4 million, up 73 percent from $182.6 million in the same period last year. ICTSI attributed the double-digit jump to 'higher operating income and lower equity in net loss of joint ventures, partially tapered by increase in interest expense on loans, concession rights payable, and lease liability and higher depreciation and amortization expenses associated with the new terminals.'