Global Ports looks to Russia

Global Ports says the binding agreement will provide more capacity, greater operating efficiency and simplified port calls, creating a “national champion in Russian infrastructure”.

NCC Group’s container terminal operations are located on the Baltic Sea, the principal gateway for Russian containerised cargo.

Its key assets include 100% ownership of First Container Terminal in St Petersburg and 80% ownership of the recently launched Ust-Luga Container Terminal in the Port of Ust-Luga.

The Group also owns Logistika-Temrinal, and inland container terminal close to St Petersburg, which serves primarily as an inland container yard for First Container Terminal.

Its inland container facility has a capacity of 200,000 teu and in 2012, its marine terminals’ annual container handling capacity was around 1.69m teu.

NCC Group generated revenues of US$253m and adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of US$164m in 2012.

Global Ports’ intended acquisition is financed through a combination of cash consideration, new shares representing around 18% of the enlarged share capital of Global Ports and assumption of debt of NCC.