Rotterdam

Further expansion is required in order to meet future demand and the aim, in respect of the Kotka project, is to add container terminal equipment equivalent to a capacity of up to 50,000TEUs per year. The capacity of the Litke Bay Terminal is to be increased to 150,000TEUs (Phase II) and subsequently to 230,000TEUs (Phase III).The total investment of €71m comprises a €45m senior secured hybrid financing and €26m of equity provided by Container Finance Ltd Oy and Forth Ports Plc. The hybrid, a combination of project and corporate financing, consists of a ?41m Term Loan and a €4m stand-by loan facility.

In the port of Rotterdam, sailors are now allowed to lash containers on vessels with a maximum length of 170 meters. Despite protests from the unions, the Municipal Council agreed to adapt the port by-laws. Unlike the political opposition and the unions, Mr. Van Sluis, the Alderman for the port, and advised by Harbormaster Jaap Lems, does not fear unsafe situations.