GLOBAL PORTS

Global Ports increases revenue amid container volume fall in 2022 H1

The Russian port operator Global Ports has published its interim condensed consolidated financial information for the first six months of the year.

The company’s revenue increased by 18.2%, compared with 2021 first half, to US$271.6 million, while gross profit adjusted for impairment increased 28.8% to US$129.9 million.

Adjusted EBITDA also increased year-on-year by 28% to US$145.6 million, with an adjusted EBITDA margin growth of 410 basis points to 53.6%.

In the first half of 2022, Global Ports...

https://container-news.com/global-ports-increases-revenue-amid-container-volume-fall-in-2022-h1/

Maersk in talks with possible buyers for stake in Global Ports

After its announcement about the shut down of its operations in Russia, Maersk said it has found possible buyers for its stake in the Russian port operator Global Ports Investments.

Although the Danish shipping company did not unveil names, it confirmed that it is in talks with several potential buyers, according to a Reuters report.

In mid-March, Maersk confirmed its decision to sell its shares, held through its subsidiary APM Terminals, in Global Ports due to Putin’s invasion of Ukraine. APM...

https://container-news.com/maersk-in-talks-with-possible-buyers-for-stake-in-global-ports/

New handling equipment at Port Vostochny

Vostochnaya Stevedoring Company (VSC) has put into operation two new reach stackers, which the terminal purchased as part of the operating facilities upgrade programme.

The new reach stackers that will operate at Port Vostochny in Russia have a lifting capacity of 45 tonnes and will be used to handle containers on railway platforms, as well as in yard operations. The technical specifications of the vehicles make it possible to stack containers up to five tiers high, according to a statement.

The...

https://container-news.com/new-handling-equipment-at-port-vostochny/

Maersk sells its stake in Russian operator Global Ports due to Ukraine war

APM Terminals has decided to sell its shares in Russian port operator Global Ports due to Putin’s invasion of Ukraine.

This move follows Maersk Line’s decision to halt all bookings to and from Russian ports on 1 March.

Global Ports Investments (GPI) PLC confirmed that the company and its board of directors received on 10 March notice from Maersk-owned port operator, which holds 30.75% of the shares in the company, intends to commence a process to divest its shareholding in the company.

“We have...

https://container-news.com/maersk-sells-its-stake-in-russian-operator-global-ports-due-to-ukraine-war/

Global Ports reports 30% revenue growth in 2021

The Russian container terminal operator Global Ports has announced consolidated revenue of US$502.8 million in 2021, representing a 30.8% increase compared to the previous year.

During the same period, the company’s gross profit rose by 22.8% and operating profit increased by 25.2% year-on-year, totalling US$226 million, and US$197.1 million, respectively.

The group’s finance income also saw a remarkable growth of 72.7% in 2021, generating US$4.1 million, while the free cash flow increased by...

https://container-news.com/global-ports-reports-30-revenue-growth-in-2021/

Liebherr to provide Global Ports VSC with two mobile harbour cranes

The port equipment manufacturer Liebherr will supply the Global Ports Group operated Vostochnaya Stevedoring Company (VSC) in Russia with two new Liebherr LHM 550 mobile harbour cranes.

Scheduled to be delivered in the third quarter of 2022, the cranes are anticipated to contribute to the required speed of vessel handling at the Port of Vostochny’s terminal.

“The use of new mobile cranes, designed specifically for VSC, will increase the terminal’s productivity,” commented Albert Likholet, CEO of...

https://container-news.com/liebherr-to-provide-global-ports-vsc-with-two-mobile-harbour-cranes/

Global Port’s container traffic remains stable

The Russian container terminal operator Global Ports (GLPR) has reported a stable container throughput during the fourth quarter and the fiscal year (FY) 2021.

In particular, Global Port’s consolidated marine container throughput recorded a marginal decline of 0.9% year-on-year, with 385,000 TEU handled in its terminals.

Ust-Luga Container Terminal (ULCT), the first greenfield container terminal in Russia, located in Luga Bay, registered the largest year-on-year decrease of 35.8% in container...

https://container-news.com/global-ports-container-traffic-remains-stable/

Global Ports expands inspection capacities at two terminals

Global Ports Group has decided to modernise the inspection facilities at its marine terminals First Container Terminal (FCT) and Petrolesport (PLP), located in Saint Petersburg, Russia.

The project is expected to increase the capacity for cargo inspection by 33% at FCT and 77% at PLP, therefore increasing the productivity of inspection operations.

It is also estimated to provide an opportunity for the terminals to meet the growing demand for inspection services and maintain a high quality of...

https://container-news.com/global-ports-expands-inspection-capacities-at-two-terminals/

Moody’s upgrades Global Ports rating

Moody’s Investors Service has upgraded the Corporate Family Rating of the Russian terminal operator Global Ports Investments Plc (GLPR) to Ba1 from Ba2 and Probability of Default Rating to Ba1-PD from Ba2-PD.

In addition, Moody’s has upgraded to Ba1 from Ba2 the ratings of the senior unsecured notes issued by GLPR’s 100%-owned financial subsidiary Global Ports Finance Plc, both of which have a stable outlook.

Global Ports operates in the Baltic and the Far East Basins, with five container...

https://container-news.com/moodys-upgrades-global-ports-rating/

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