Global Ports makes next step towards integration of Group’s container terminal operations in the Port of St. Petersburg
Global Ports Investments PLC (Global Ports, and together with its subsidiaries and joint ventures, “the Group”), (LSE ticker: GLPR) announces that as part of its strategy to prioritise operating efficiency and optimise the Group’s asset base, the management teams of Petrolesport and First Container Terminal are to be unified. The Board has appointed Albert Likholet as Managing Director of both Petrolesport and First Container Terminal, effective from 13 May 2019. Alexander Tikhov, the former Managing Director of FCT, will remain with the Group as an adviser to the general director of Global Ports Management LLC.
This development is the next step in the integration of the Group’s container terminal operations in the Port of St. Petersburg. Over the last few years the Group has centralised its commercial, legal, financial and other team functions in order to effectively manage the Group’s resources. This approach has helped improve the Group’s value proposition to its customers with the launch of a Unified Client Service across all terminals in 2018 giving clients faster, easier access to service teams. The merging of the two management teams will further align the strategic focus across the two terminals based at the Port of St. Petersburg, improving clarity and speed of decision-making to bring tangible benefits to customers in terms of planning capability and distribution of services as Group resources will be allocated more efficiently and effectively to client requirements.
PLP and FCT operate in the Big Port of Saint-Petersburg. The current combined throughput capacity of the terminals exceeds 1.25 million TEU1, the terminals occupy 208 ha of land and have more than 3.2 km of quay line.
Global Ports Investments PLC is the leading operator of container terminals in the Russian market by capacity and container throughput2.
Global Ports’ terminals are located in the Baltic and Far East Basins, key regions for foreign trade cargo flows. Global Ports operates five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal3 and Moby Dik4 in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland5 (Multi-Link Terminals in Helsinki and Kotka). Global Ports also owns inland container terminal Yanino Logistics Park6 located in the vicinity of St. Petersburg.
Global Ports’ revenue for 2018 was 343.6 USD million7 and Adjusted EBITDA was 217.3 USD million. Consolidated Marine Container Throughput was 1,352 thousand TEU in 20188.
Global Ports’ major shareholders are Delo Group, one of the largest private transportation and logistics holding companies in Russia (30.75%), and APM Terminals B.V. (30.75%), whose core expertise is the design, construction, management and operation of ports, terminals and inland services. APM Terminals operates a global terminal network of 74 ports and 117 inland services facilities, giving the company a global presence in 58 countries. 20.5% of Global Ports shares are traded in the form of global depositary receipts on the Main Market of the London Stock Exchange (LSE ticker: GLPR).