According to The Moscow Times, London-listed Russian ports operator Global Ports (GLPRq.L) has bought domestic rival National Container Company (NCC) in a deal worth almost $1.6 billion.
Global Ports said the deal to buy NCC would enable it to streamline its business and capitalize on Russia’s robust container market and give control over ports in the St. Petersburg area and the option to buy a 50-percent stake in the Ukrainian port of Illichevsk for $60 million.
The agreement will also strengthen Global Ports’ leading position in the growing Russian container market by providing more capacity, greater operating efficiency and simplified port calls. This move will benefit all stakeholders in the transportation value chain of the region by becoming one of the world’s top 20 container operators. As Reuters reported, the acquisitions raise the company’s total cargo throughput to 2.5 million tons and additional capacity of 1 million tons.
Global Ports’ terminals, owned by the Danish shipping company A.P. Moller-Maersk and a group of Russian billionaires are located in the Baltic and Far East Basins, key regions for foreign trade cargo flows. Right now Global Ports operates three container terminals in Russia (Petrolesport and Moby Dik in St Petersburg, Vostochnaya Stevedoring Company in the Vostochny Port) and two container terminals in Finland (Multi-Link Terminals Helsinki and Multi-Link Terminals Kotka). Global Ports group also owns 75% in Yanino Logistics Park, located in the vicinity of St Petersburg, and a 50% share in the major oil product terminal, AS Vopak in Estonia.
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