Castellón, Spain (PortSEurope) September 12, 2017 – Castellón port is expected to become the third most profitable in Spain in 2017 after completing its debt restructuring, climbing five positions from the eighth place in 2014, according to estimates by Spanish national ports agency Puertos del Estado.
Moreover, Castellón port will have the second lower ratio of costs to revenue, of 18%, well below the average for the Spanish harbours. Such positive financial figures put Castellón port in a solid position to carry out projects that improve its competitiveness, investing in infrastructure overhaul and reducing the costs of operators, the president of the port authority (Autoridad Portuaria de Castellón), Francisco Toledo, said.
Toledo has highlighted the fact that the improvement in profitability happens despite the reduction of port fees adopted in 2017, which proves that such a move could improve the financial performance by boosting cargo traffic.
The port has also approved an ambitious investment plan to reach a better level of environmental protection and reinforcement of the port-city connection, Toledo noted. The launch of new regular routes from the port prove that it has a significant potential as a hub for the Mediterranean region, he added.
Source: Autoridad Portuaria de Castellón
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