Germany-based Eurogate has outlined plans to spend $1.7 billion to expand its facilities in Europe over the next four years.
The investment - Eurogate's largest ever - will boost terminal capacity to help the continent's biggest port operator cope with the surging number of mega container vessels (of above 10,000 TEUs), Lloyd's List reported.
Emanuel Schiffer, co-head of Eurogate, said shipyards will deliver 191 mega container vessels with a total capacity of more than 2 million TEUs over the next four years.
The investment will include 50 new super post Panamax gantry cranes by 2012.
According to the report, Eurogate will expand its German facilities in Bremerhaven, Hamburg and Wilhelmshaven.
Bremerhaven's CT4 container terminal expansion project will be completed by October; while in Hamburg, Eurogate intends to widen the third berth and boost capacity at its terminal to the west by an additional 1.9 million TEUs.
In Wilhelmshaven, construction on a new deep-water box terminal has begun and is reportedly due for completion in 2011.
Elsewhere in Europe, Eurogate recently acquired a 20% stake in OJSC Baltic Container Terminal, the new facility at the Russian port of Ust-Luga in the Baltic.
The $800 million terminal is currently being built by Russia's National Container Company (NCC) and its first phase will reportedly come on line by 2009.
“With the implementation of the shareholding, a strategic step has been taken towards expanding the container terminal network into the Baltic Sea area and the strongly growing Russian market,” Eurogate said about its recent investment.
According to NCC, the terminal will be able to handle up to 500,000 TEUs a year when it opens in 2009. Its annual handling capacity is expected to reach 3.0 million TEUs by 2019, and could rise to up to 6.0 million TEUs.
2007 saw strong growth for Eurogate at its box operations in Germany, Italy and Portugal.
The investment - Eurogate's largest ever - will boost terminal capacity to help the continent's biggest port operator cope with the surging number of mega container vessels (of above 10,000 TEUs), Lloyd's List reported.
Emanuel Schiffer, co-head of Eurogate, said shipyards will deliver 191 mega container vessels with a total capacity of more than 2 million TEUs over the next four years.
The investment will include 50 new super post Panamax gantry cranes by 2012.
According to the report, Eurogate will expand its German facilities in Bremerhaven, Hamburg and Wilhelmshaven.
Bremerhaven's CT4 container terminal expansion project will be completed by October; while in Hamburg, Eurogate intends to widen the third berth and boost capacity at its terminal to the west by an additional 1.9 million TEUs.
In Wilhelmshaven, construction on a new deep-water box terminal has begun and is reportedly due for completion in 2011.
Elsewhere in Europe, Eurogate recently acquired a 20% stake in OJSC Baltic Container Terminal, the new facility at the Russian port of Ust-Luga in the Baltic.
The $800 million terminal is currently being built by Russia's National Container Company (NCC) and its first phase will reportedly come on line by 2009.
“With the implementation of the shareholding, a strategic step has been taken towards expanding the container terminal network into the Baltic Sea area and the strongly growing Russian market,” Eurogate said about its recent investment.
According to NCC, the terminal will be able to handle up to 500,000 TEUs a year when it opens in 2009. Its annual handling capacity is expected to reach 3.0 million TEUs by 2019, and could rise to up to 6.0 million TEUs.
2007 saw strong growth for Eurogate at its box operations in Germany, Italy and Portugal.