“Since the inception of our operation in Batumi we have enjoyed a good and professional relationship with Batumi Sea Port, however when BSP changed management six months back the situation changed \u2013 overnight we faced an extremely adversarial approach,\u201d said Hans-Ole Madsen, senior vice president for ICTSI, Middle East & Europe region.<\/p>\n
ICTSI \u2013 through its fully-owned Georgian subsidiary Batumi International Container Terminal (BICT) \u2013 holds a 48 years concession for container, ferry and general cargo operations at Batumi Sea Port.<\/p>\n
Over the past five years ICTSI has invested in excess of $25m to upgrade the facility and is gearing up to execute a $20m expansion project, which will increase the terminal’s capacity by 50%.<\/p>\n
“We felt compelled to pursue an arbitration and through the support of the Georgian Courts have succeeded in winning an injunction. In the meantime, our expansion plans remain on hold, pending a satisfactory resolution – of which we are confident,” said Mr Madsen.<\/p>\n
BICT has operated the multipurpose container terminal and the dry cargo and ferry terminal in the Black Sea Port of Batumi, Georgia since 2007.
Parent group of Batumi Sea Port, Batumi Port Holdings was bought out by JSC KazTransOil in 2011 and has subsequently issued a notice of alleged violation of the terms and conditions of BICT\u2019s lease agreement.<\/p>\n
BICT disputes the alleged violations and filed the Request for Arbitration with the London Court of International Arbitration to settle the dispute in accordance with the dispute resolution mechanism under the Lease Agreement. <\/p>\n","protected":false},"excerpt":{"rendered":"
International Container Terminals Services Inc has cited an \u201cextremely adversarial approach\u201d as the reason for its initiation of arbitration proceedings in its dispute with Batumi Sea Port.<\/p>\n","protected":false},"author":8,"featured_media":3818,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13],"tags":[],"sponsor":[],"class_list":["post-3817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-europe"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/3817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/comments?post=3817"}],"version-history":[{"count":1,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/3817\/revisions"}],"predecessor-version":[{"id":3819,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/3817\/revisions\/3819"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/media\/3818"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/media?parent=3817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/categories?post=3817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/tags?post=3817"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/sponsor?post=3817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}