ICTSI handled consolidated volumes of 3.09 million TEU in the first quarter of 2024, marginally down from 3.10 million TEU handled in the same period in 2023. Volume growth mainly from new services and improvement in trade activities at certain terminals was offset by the impact of the expiration of the concession contract at Pakistan International Container Terminal (PICT) in Karachi, Pakistan, deconsolidation of OJA in Jakarta, Indonesia, termination of cargo handling operations at PT Makassar Terminal Services (PT MTS) in Makassar, Indonesia, and decrease in volume in Contecon Guayaquil S.A. (CGSA) in Guayaquil, Ecuador. Excluding the impact of discontinued operations in Pakistan and Indonesia, the Group's consolidated volume would have increased by 5 per cent. Recently, the Philippine Ports Authority (PPA) turned over the management and operation of the Iloilo Commercial Port Complex (ICPC) to the Visayas Container Terminal (VCT).