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Yilport Publishes Review Of Malta Freeport Activities

Yilport publishes review of Malta Freeport activities

Freeport, Malta (PortSEurope) November 1, 2017 – The Yilport quarterly corporate magazine has reviewed the company’s activities at Malta Freeport. In August the Malta Freeport Corporation (the port authority) granted an extension to the license and lease of Malta Freeport Terminals (MFT) for an additional 30 years as stipulated in the concession agreement following the fulfilment of the original agreement conditions. The original license agreement
of 2008 provided for an automatic extension of the license to MFT for an additional 30 years providing that the company fulfilled its investment obligations stipulated in the agreement. Such obligations stipulated that the capacity of the terminals has to be increased to at least 3 million TEUs. To this effect, MFT not only honored its obligations, but also exceeded the criteria set in the license agreement. The license agreement which was due to expire in 2039 has now been extended by a further 30 years. During 2017, Malta Freeport Terminals has continued registering encouraging results. Two shipping alliances are presently calling at the port in addition to various other carriers. Malta Freeport has managed to rope in the Ocean Alliance (CMA CGM, COSCO Shipping, Evergreen Line, and OOCL), a significant accomplishment for the Freeport attesting to the port’s facilities that can accommodate the largest vessels. The 2M Alliance has sustained its calls at the Port since early 2015. Other carriers that are presently calling regularly at the Freeport include Hamburg Sud, Hapag-Lloyd, Seago Line and UASC together with a number of other shipping lines offering feeder services. Malta Freeport presently has 20 mainline services calling on a weekly basis. During 2017 Malta Freeport Terminal is projecting to handle around 3.2 million TEUs. Yilport Holding  Inc. is part of Turkey’s Yildirim Group. Yilport offers integrated port operations whereby customers are able to make advantage of combined services in order to minimize cost and maximize the velocity of their cargo flows. Yilport was established in August 2011 as a subsidiary of Yildirim Group, and become  the first terminal operator holding in Turkey. Today,Yilport Holding globally operates 20 marine ports and terminals: five in Turkey, Portugal (7), Spain (2), Sweden (2), Peru (1), Malta (1), Norway (1), and Ecuador (1).  In addition, Yilport operates six dry terminals: five in Turkey and one in Sweden. Source: Yilport Copyright (C) PortSEurope. All Rights Reserved. 2017.

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