Global Ports

Global Ports is a Russian operator of container terminals.

Global Ports
IndustryContainer terminals
Port management
Area served
Russia

Global Ports' terminals are located in the Baltic and the Far East basins. The group operates five container terminals in Russia: Petrolesport, First Container Terminal, Ust-Luga Container Terminal, and Moby Dik on the Baltic sea (Yanina Logistics Park, near Saint Petersburg, is also a part of Global Ports); and Vostochnaya Stevedoring Company in Vostochny Port on the Sea of Japan. It also operates two container terminals in Finland: Multi-link in Helsinki and Kotka.

History

In 2007, Konstantin Nikolaev, Nikita Mishin, and Andrey Filatov acquired 100% of Severstaltrans shares, buying 50% from Alexei Mordashov and renaming the company N-Trans Group. The group now consists of Vostochnaya Stevedoring Company (75% ownership, 25% owned by DP World), Petrolesport, Moby Dick container terminal (75% ownership, 25% owned by Container Finance Group (Finland)), Yanino Logistics Park (75% ownership, 25% owned by Container Finance Group), and 50% ownership of the oil terminal Vopak E.O.S (the other 50% owned by Royal Vopak).[1][2][3]

Global Ports was founded in 2008, to operate N-Trans Group's assets.

In 2011, Global Ports held an IPO on the London Stock Exchange. The company's worth was estimated to be $2.35 billion. The public float was 25%. The total flotation cost was $534 million. Of the amount raised, $100 million were received by Global Ports and the rest went to N-Trans.[4]

In November 2012, APM Terminals, part of Maersk, bought half of N-Trans's Global Ports shares, amounting to 37.5% ownership. The transaction value was not disclosed, although the shares' market value at the time of transaction was around $860 million.[5] Prior to the deal, Global Ports bought 25% of Vostochnaya Stevedoring Company from the Arabic port operator DP World for $230 million.[6]

In 2013, Global Ports bought National Container Company. The deal included 100% ownership of First Container Terminal, 80% of Ust-Luga Container Terminal, and 100% of Logistika Terminal. Global Ports paid $291 million and 18% of its shares, which resulted in the main Global Ports stockholders' (TIHL and APM Terminals) ownership dropping from 37.5% to 30.75%, the public float declining from 25% to 20.5%. Previous NCC shareholders Andrey Kobzar and First Quantum Management received 9% of Global Ports shares.[7][8]

In 2017, Global Ports sold 100% of CJSC Logistika Terminal (a dry port south of Saint Petersburg) to TransContainer for 1.9 billion roubles.[9]

In 2018, the Delo Group bought out N-Trans' ownership in Global Ports (30.75%). The transaction amount was not disclosed.[10]

In 2019, Global Ports sold VEOS terminal in Estonia.[11]

Current owners and management

The main shareholders of Global Ports are the Russian transportation and logistics holding company Delo Group (30.75%), and APM Terminals international holding, which is a part of the Maersk shipping company (30.75%). 20.5% of the shares are being exchanged in the form of GDRs at the London Stock Exchange.[12]

Albert Likholet became director general of Global Ports on 16 July 2020. He is also the head of Petrolesport and First Container Terminal. He replaced a former head of the Delo Group, Vladimir Bychkov, who headed Global Ports from 2018 until 2020.[13][14][15] The Global Ports Investments PLC board of directors has 11 members.[16] The chairman is Soren Jacobsen, who represents APM Terminals.[17]

Assets

The total capacity of Global Ports' marine container terminals is 4.4 million TEUs. Its terminal area is 400 hectares (990 acres). It has 3,200 employees.

First Container Terminal
First Container Terminal

Located in Big port Saint Petersburg, JSC First Container Terminal is the largest and oldest container terminal in Russia. It was established in 1973 and was the first specialized container terminal in the city. FCT is connected by regular feeder traffic with main European ports, such as the Port of Rotterdam, the Port of Hamburg, the Ports of Bremen and the Port of Antwerp.[18] It is connected with the central region of Russia via railways and highways and to main ports of the west Baltic Sea via ferry lines.[19]

Petrolesport
Petrolesport

JSC Petrolesport is a stevedoring company, operating in the northwest of Russia. The company is located in the Saint Petersburg offshore zone on the Gutuevsky, Volny, Gladky, and Grebenka islands.[19] It is connected with the central part of Russia via railways and highways, and to main ports in the west Baltic Sea via ferry lines.[19] The terminal's history dates back to the Timber Port which was created at the end of the 19th century.

The company handles various kinds of cargo—including timber, ferrous and non-ferrous metals, scrap metal, metal goods, and project cargoes, including heavy and outsize cargoes—but primarily container and ferry cargoes. The specialised container terminal is the second largest by capacity in Russia and the CIS, and has the greatest space for refrigerated containers in the region.

Petrolesport Ferry Terminal is one of the largest complexes for handling roll-on/roll-off (ro-ro) cargoes in Russia.[19][20] In 2019, a new temperature-controlled trans-shipment cross dock complex started operations at Petrolesport, and became the biggest repacking hub in Big port Saint Petersburg.[21]

Vostochnaya Stevedoring Company
Vostochnaya Stevedoring Company

Vostochnaya Stevedoring Company (VSC) is the largest container terminal in the Russian Far East. It is located in the Vrangel district, close to the city of Nakhodka, of the deep-water warm-water port of Vostochny Port on the Pacific Ocean. The container terminal, which became the basis for the company, was established in 1976 and was the second specialised container terminal in the USSR. VSC has direct access to the Nakhodka-Vostochnaya railway station, the eastern terminus of the Trans-Siberian Railway.[22][23]

VSC handles ro-ro vessels and provides services such as the storing of refrigerated containers and, most importantly, forming and dispatching block trains. A specialised complex for handling coal has operated since 2011. VSC is a part of AE19 Eastbound—a multi-modal container service from North European countries to Asia via Saint Petersburg. The total throughput capacity is 650,000 TEU a year.[24]

Ust-Luga Container Terminal
Ust-Luga Container Terminal

JSC Ust-Luga Container Terminal (ULCT) is located in deep-sea port of Ust-Luga on Luga Bay of the Gulf of Finland. Global Ports' partner in ULCT is the German container operator Eurogate, which owns 20%.

The terminal handled its first vessel on 29 December 2011. An investment programme will expand the throughput capacity to 2.85 million TEU.[25][26]

From December 2018, the terminal started handling coal. Railway infrastructure and terminal capacity allows it to handle up to 1 million tonnes of coal a year.[27][28][26]

Moby Dick
Moby Dick Terminal

Moby Dick LLC is a marine cargo terminal located in Kronstadt on the Kotlin Island at the entrance to Big port Saint Petersburg. Construction began in 2000, and in 2002 Moby Dick handled its first vessel. The terminal handles container, bulk, general, large, and ro-ro cargoes. Global Ports owns 75% of the terminal, and the other 25% is owned by CMA Terminals, which is part of CMA CGM. The terminal has direct access to the Saint Petersburg Ring Road, is located near the Nissan and Hyundai factories, and is near the border checkpoint of Litke Base, Kotlin Island, and the Baltic customs station Kronshtadtskiy.[29][30][31][32]

Yanino Logistics Park

Yanino Logistics Park is a multi-functional transportation and logistics complex, a dry port, initially created for expanding warehouse capacity for the Saint Petersburg and Kronstadt terminals. It is located 1.5 kilometers from the Saint Petersburg Ring Road and is connected with Petrolesport by rail. Built in 2010, it started operating at full capacity from May 2011.[33][34] Global Ports owns 75% of Yanino, with the other 25% owned by CMA Terminals.[33][32]

Multi-Link Terminals Ltd Oy (MLT) operates two terminals in Finland. Multi-Link Terminals was founded in 2004 as a stevedore subsidiary of Container Ships shipping line. The terminal in West Harbour in Helsinki started operating first; and in 2005, the terminal in Kotka was launched. 75% of Multi-Link Terminals is owned by Global Ports, with the other 25% owned by CMA Terminals.[32]

In 2008, all operations from the West Harbour were transferred to the new Vuosaari Harbour as part of the programme for freeing the historical city from cargo terminals. MLT-Helsinki, among other transferred terminals, started operating in the new port.[35] The terminals specialize in Finnish export and import shipments, as well as Russian transit.[30]

Financials

Global Ports' total revenue for 2019 was $361.9 million and adjusted EBITDA was $226.9 million. In 2019, the consolidated marine container throughput of the group was 1.439 million TEU.[36]

Financial data
Year2015[37]2016[38]2017[39]2018[40]2019[36]
Revenue (million $)405.7331.5330.5343.6361.9
Adjusted EBITDA (million $)291224.3201.6217.3226.9

As of the end of 2018, Global Ports is the leading container operator in Russia, with a 51% share in the Baltic and 30% in the Far East basins.[41] In the first quarter of 2020, the group's total share of the Russian container market was 31.2%.[42]

Operational performance
Year20152016201720182019
Consolidated container throughput
performed by marine terminals (thousands TEU)		1 834[37]1 128[38]1 205[39]1 352[40]1 439[36]
Consolidated
bulk cargo turnover (million tons)		1.32[38]2.21[38]2.7[39]3.12[43]3.7[36]

References
  1. "Новая сделка года" [New Deal Of the Year] (in Russian).
  2. "Расследование: как устроен бизнес Globaltrans и Global Ports" [Investigation: How Do Globaltrans and Global Ports Operate] (in Russian).
  3. ""Северсталь" выходит из транса" [Severstal Snaps Back] (in Russian).
  4. "По цене Сбербанка" [Sberbank’s Pricetag] (in Russian).
  5. "Крупнейший в мире контейнерный оператор купил долю в Global Ports" [The World’s Biggest Container Operator Buys A Share of Global Ports] (in Russian).
  6. "Global Ports консолидирует Восточную стивидорную компанию целиком" [Global Ports Consolidates All Of the VSC] (in Russian).
  7. "Global Ports купила Национальную контейнерную компанию" [Global Ports Buys National Container Company] (in Russian).
  8. "Глобальная контейнерная" [Global Containers] (in Russian).
  9. "Global Рorts за 1,9 млрд рублей продала "Трансконтейнеру" терминал" [Global Ports Sells A Terminal For 1,9 Billion to TransContainer] (in Russian).
  10. "Группа "Дело" стала владельцем более 30 % в Global Ports" [Delo Group Owns More Than 30% Shares In Global Ports] (in Russian).
  11. "Global Ports и Vopak продали терминал VEOS в Эстонии" [Global Ports and Vopak Sell VEOS Terminal In Estonia] (in Russian).
  12. "Global Ports".
  13. "Альберт Лихолет возглавит Global Ports" [Albert Likholet Is The New Head Of Global Ports] (in Russian).
  14. "Гендиректор Global Ports покидает компанию" [Global Ports’ General Director Is Leaving the Company] (in Russian).
  15. "Новым главой Global Ports станет Владимир Бычков" [Vladimir Bychkov To Be the New Head of Global Ports] (in Russian).
  16. "Global Ports избрал совет директоров" [Global Ports Has Chosen Executive Board] (in Russian).
  17. "Якобсен из APM Terminals возглавил совет директоров Global Ports" [Jacobsen from APM Terminals Is Now the Head of Global Ports’ Executive Board] (in Russian).
  18. "Механизм электронного обмена данными с ФТС РФ заработал на ПКТ" [Mechanism Of the Electronic Data Interchange With Federal Customs Service of Russia Is Launched At FCT] (in Russian).
  19. "ОАО "Петролеспорт"" [OAO Petrolesport] (in Russian).
  20. ""Петролеспорт" ввел в действие систему тайм-слотирования завоза генгрузов" [Petrolesport Has Introduced A Time Slot System For General Cargo Delivery] (in Russian).
  21. "Global Ports ввел в эксплуатацию температурный перетарочный комплекс на терминале "Петролеспорт"" [Global Ports Launches Temperature-Controlled Transshipment Complex at Petrolesport Terminal] (in Russian).
  22. "ВСК – 15 лет движения вперед" [VSC — 15 Years Of Moving Forward] (in Russian).
  23. "История Восточного порта в датах" [Vostochny Port History In Details] (in Russian).
  24. "ВСК стала одной из ключевых точек мультимодального сервиса AE19 Eastbound" [VSC Becomes One Of the Key Spots of a AE19 Eastbound Multimodal Service] (in Russian).
  25. "Усть-Лужский контейнерный терминал" [Ust-Luga Container Terminal] (in Russian).
  26. "С запасом мощности" [More Than Enough Energy] (in Russian).
  27. "Global Ports начинает перевалку угля на УЛКТ (Усть-Луга)" [Global Ports Starts Handling Coal at the Ust-Luga Terminal] (in Russian).
  28. "Уголь на УЛКТ" [Coal At the Ust-Luga Container Terminal] (in Russian).
  29. ""МОБИ ДИК" запускает паромный терминал" [Moby Dick Launches A Ferry Terminal] (in Russian).
  30. "Группа компаний "Северстальтранс" купила 50 % акций Multi-Link Terminals Ltd Oy и Container Depot Ltd Oy" [The Severstaltrans Buys 50% of Multi-Link Terminals Ltd Oy and Container Depot Ltd Oy Shares] (in Russian).
  31. "Кронштадтский терминал "Моби Дик" начал обслуживать новую контейнерную линию Sea Connect" [Konstadt Moby Dick Terminal Starts Handling New Sea Connect Container Line] (in Russian).
  32. "CMA CGM покупает Containerships" [CMA CGM Buys Containerships] (in Russian).
  33. "Грузы пошли по суше" [Cargoes Are Traveling By Land] (in Russian).
  34. "Левитин открыл логистический парк "Янино"" [Levitin Opens A Yanino Logistics Park] (in Russian).
  35. "Вуосаари на изготовку: фотоотчет" [Vuosaari Into Ready Position: Photoreport] (in Russian).
  36. "$67,7 млн чистой прибыли против убытка в $58,3 млн в 2018 г.: Global Ports опубликовали отчетность за 2019 г." [$67,7 Million Net Profit Against $58,3 Million Loss in 2018: Global Ports Gives Their Financial Report for 2019] (in Russian).
  37. "Чистый убыток Global Ports в 2015 году сократился почти в шесть раз" [Global Ports’ Net Loss Has Decreased Almost Six Times in 2015] (in Russian).
  38. "Global Ports закончила год с прибылью" [Global Ports Closes This Year With a Profit] (in Russian).
  39. "Финансы и TEU Global Ports" [Global Ports’ Financials and TEU] (in Russian).
  40. "Global Ports отчитался по деньгам" [Global Ports Reported Their Financials] (in Russian).
  41. "GLPRLI 23 выглядит привлекательно, рекомендуем увеличивать позиции в бумаге - "БКС Глобал Маркетс"" [GLPRLI 23 Looks Appealing, We Recommend Increasing Positions On Paper - Global Markets] (in Russian).
  42. "Global Ports увеличил контейнерооборот в первом квартале" [Global Ports Increases Container Turnover In the First Quarter] (in Russian).
  43. "Global Ports отчиталась о результатах" [Global Ports Reports the Results] (in Russian).
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