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Global Ports Holding – Valencia Cruise Port Agreement

Global Ports Holding – Valencia Cruise Port agreement

València, Spain (PortSEurope) November 16, 2020 – Global Ports Holding Plc (GPH), a global independent cruise port operator, has issued a press release announcing that, its partner Baleària Group, has been awarded a 35-year concession agreement for the ferry and cruise port of Valencia, with a 15-year extension option. As part of the agreement, GPH will operate and manage Valencia Cruise Port throughout the period of
the concession. All parties will now work together to conclude the agreement that is expected to be signed in Q1 2021. Baleària plans to invest up to $37m in port infrastructure, including two new state of the art smart terminals, as well as investment into ferry piers, car parking and retail and F&B areas. The concession is expected to start in Q1 2021, with the expected two-year investment phase starting at the same time. The new terminals will set a new benchmark for sustainability in the passenger transport industry, producing 100% of their electricity needs from their own renewable energy sources (photovoltaic, wind, renewable hydrogen and biofuel), with all waste generated being recycled. In 2019, the port of Valencia received 203 cruise ship calls and welcomed around 435,000 cruise passengers, with a pre Covid-19 forecast of over 500,000 passengers in 2020. Emre Sayin, Chief Executive Officer, said: “We are very grateful to Valencia Port Authority for placing their trust in GPH as the operator of Valencia Cruise Port. The project presented by our partners, Baleària Group, in collaboration with GPH, will set a new benchmark for excellence and sustainability in the passenger transport industry. Valencia Cruise Port is an important addition to our cruise port network, further strengthening our presence and capabilities in Iberia and the West Med. We very much look forward to growing cruise passenger volumes in Valencia in a sustainable and responsible way.” About Baleària Group Baleària Group is the leading shipping line for passenger and freight transport on Balearic Islands crossings to the Spanish mainland. It also operates a number of other passenger ferry services in the Mediterranean and Caribbean. Global Ports Holding Plc is the world’s largest cruise port operator with an established presence in the Caribbean, Mediterranean, Asia-Pacific regions, including extensive commercial port operations in Turkey and Montenegro. Global Ports Melita Ltd is registered in Malta, where in 2015, GPH completed the acquisition of a majority stake in Valletta Cruise Port, engaged in port operations and the leasing of office, catering and retail outlets in Malta. Global Ports Holding currently operates cruise terminals in 19 ports around the world. In Italy GPH is present in the port of Venice, through the Venice Cruise Port, of which it holds 11.9% of the capital, and in the ports of Ravenna, Cagliari and Catania through the Ravenna Cruise Ports, the Cagliari Cruise Port and the Catania respectively. Cruise Ports, the company which it controls, holding 53.7%, 70.9% and 62.2% of the capital. Copyright (C) PortSEurope. All Rights Reserved. 2020.

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