According to informed sources, the company has recently invited offers from diverse banks to participate in the comprehensive expansion of the Baltic Container Terminal and met with an enthusiastic response from a number of leading international banks.<\/p>\n
The Baltic Container Terminal was acquired by ICTSI in May 2003 under a Polish Government privatisation programme and since its acquisition has gone from strength to strength. In 2003 container throughput increased by some 23% to a total of 304,745TEUs and observers indicate that another strong increase is on the cards this year with strong organic growth, an expansion of the client base and Poland’s recent accession to the EU all playing a part in this.<\/p>\n
Under public sector ownership the Baltic Container Terminal was viewed as only having an annual throughput capacity in the order of 350,000TEUs. As is common however, with the transfer of container terminal facilities to the private sector, ICTSI has identified the means to significantly increase annual throughput capacity – eventually up to 1.2mTEUs on the same footprint of land – through a combination of upgrading container handling hardware on the quayside and landside as well as installing comprehensive new generation container terminal management and operations systems.<\/p>\n
Beyond this point, ICTSI, on behalf of BCT, has also made arrangements with the Port Authority of Gdynia to add additional quay and land areas on an as-required basis.<\/p>\n
“It is an efficient, well-run business with lots of potential to meet Poland’s container handling requirements over the longer-term and as such it is hardly surprising it is attracting a lot of interest during a relatively quiet time in the project financing market, ” said one financial sector source who wished to remain anonymous.<\/p>\n
It is known that the European Investment Bank is one lender that relatively early on expressed interest in the Baltic Container Terminal project, however, it is anticipated that standalone financial arrangements for BCT will eventually be concluded between ICTSI and leading commercial sector banks with previous port sector experience.<\/p>\n
Martin O’ Neil, chief financial officer, ICTSI, asked to comment on the likely source of funding said: “It is true that we have been talking to various banks in conjunction with financing for the expansion of the Baltic Container Terminal but no final decision has been made yet and it is too soon to name names.”<\/p>\n","protected":false},"excerpt":{"rendered":"
ICTSI, the Manila-based international container terminal developer and operator, is understood to be at an advanced stage of concluding financing arrangements for a largescale expansion of capacity at its wholly-owned Baltic Container Terminal subsidiary in Gdynia, Poland.<\/p>\n","protected":false},"author":8,"featured_media":7288,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15],"tags":[],"sponsor":[],"class_list":["post-7287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-europe"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts\/7287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/comments?post=7287"}],"version-history":[{"count":1,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts\/7287\/revisions"}],"predecessor-version":[{"id":7289,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts\/7287\/revisions\/7289"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/media\/7288"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/media?parent=7287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/categories?post=7287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/tags?post=7287"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/sponsor?post=7287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}