Filipino container terminal operator International Container Terminal Services Inc (ICTSI) has filed for arbitration over its treatment at the hands of Batumi Sea Port (BSP), as relations between the two companies appear to have broken down.
The Manila-headquartered company, which has a history and strategy of winning concessions and developing box terminals in some of the most challenging environments, released a statement to the Philippines Stock Exchange last week announcing that its dispute with its landlord in the Georgian port has now gone to the London Court of International Arbitration.