Yilport acquires majority share in Gemport

Gemport is responsible for container, vehicle and general cargo handling, warehouse services and also pilotage and towage services to all vessels calling at Gemlick Bay and in the Mudanya region.

Yilport says that the aim of this acquisition is to create one of the largest, most technologically advanced facilities in all of Turkey and the surrounding region and to diversify the company’s portfolio of services.

And this acquisition is all part of Yildirim’s strategy for global growth. It has already bought a 50% share in Malta Freeport and is on the hunt for similar arrangements with ports in Latin America and Africa.

Robert Yuksel Yildirim, President, Yildirim Group, said: “We are not hurrying though since we have to find the ones with the best returns. With Yilport Gebze, Yilport Gemlik, Malta Freeport and RotaPort, we managed to reach a portfolio value of $2bn.”

He commented that the group will be in an admirable position in five year’s time. Currently, it has an annual container handling capacity of 5.5m teu in five ports. In five years it wants to increase this to 7.5m teu. “This is a record for a Turkish company and we have managed to be one of the top 20 global port operators in a short span (of time),” he added.

Privatisation in the Turkish port sector is set to increase in the next few years to include many of the state owned ports.