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Finance Deals

The UK port sector received a £1.6 billion boost this week with the news that Canada Pension Plan Investment Board (CPPIB) and British firm Hermes Infrastructure are to acquire a 30% stake in Associated British Ports (ABP).

Chilean shipping firm Compañía Sud Americana de Vapores (CSAV) has reported profits of $389 million for 2014, boosted by the merger of its container business with Germany’s Hapag-Lloyd in December.

The sale of the Greek government’s 67% stake in the Piraeus Port Authority (PPA) to China’s Cosco group is expected to be “completed within weeks”, according to comments by the country’s Deputy Prime Minister Yannis Dragasakis to Chinese state news agency Xinhua.

New Zealand’s Port of Tauranga is planning to invest $150 million over the next three years as it aims to position itself as a regional hub. The port is tendering a number of projects as part of ambitious expansion plans.  

Financial terms for loans to develop the $1.5 billion Lekki port in Nigeria have now been agreed by the consortium of six banks providing funding for the project, according to managing director of the port, Haresh Aswani.

Dubai-based port operator DP World has announced the closure of a $2.6 billion deal to acquire shares in Middle Eastern rival Economic Zones World FZE (EZW).

Authorities at the Egyptian port of Damietta have signed a contract to build a new 630 metre long deepwater berth with a draught of 17 metres.

Financial services firm Morgan Stanley has sold Montreal Gateway Terminals (MGT) to a consortium of investors that aim to turn the port into an international hub.

The Port of Prince Rupert on Canada’s west coast is to receive investment of $200 million from  Maher Terminals to expand capacity at its Fairview Container Terminal by approximately 60%.

Egypt’s Ministry of Transportation is reportedly seeking investment of $700 million for expansion of the container terminal at East Port Said on the country’s Mediterranean coast.

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Port Finance International provides online news and conferences worldwide. It is a platform and a community for senior industry experts and players to review and discuss the market. Our online news team provides daily coverage of international port finance, investment and operations news. A weekly e-newsletter- sent to readers free of charge - covers the key news and views of the week.

Port Finance International's conferences and training programmes are held across the globe. These events feature key industry figures and they address market challenges and trends as well as providing industry players with essential networking opportunities.

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