Global Ports Holding (GPH) adds Las Palmas de Gran Canaria Cruise Port, located in Spain's Canary Islands, to its portfolio, increasing the number of ports it operates to 22.
global ports holding (GPH) adds Las Palmas de Gran Canaria Cruise Port, located in Spain's Canary Islands, to its portfolio, increasing the number of ports it operates to 22. In addition, while GPH continues its efforts to expand its small port network in Europe, it added Vigo Cruise Port in Spain to its portfolio.Mehmet Kutman, Chairman and CEO of Global Ports Holding, said, “We are bringing our international experience and business model in cruise port management to the Canary Islands. We also expanded our small port network with Vigo. Thus, on the one hand, we strengthen our position as the world's largest cruise port operator, on the other hand, we enter the capillaries of cruise tourism.”Global Ports Canary Islands (GPCI), in which Global Ports Holding (GPH), a subsidiary of Global Investment Holdings and the world's largest cruise port operator, has an 80% share, is Las Palmas de Gran Canaria Cruise Port, located in the Canary Islands of Spain. Agreed on the provisions of the concession agreement for the operation of the operations of the company for 40 years. Thus, with the addition of Las Palmas de Gran Canaria cruise port to the portfolio, the total number of cruise ports operated and managed by GPH in the Caribbean, Mediterranean, South Atlantic, Asia and Northern Europe cruise regions increases to 22.While negotiations are continuing on the Concession Agreements regarding the cruise ports "Arrecife (Lanzarote)" and "Puerto del Rosario (Fuerteventura)", which are included in the proposal of GPH and whose concession periods are 20 years, these two ports will continue until 30 September 2022. The relevant concession agreements are expected to be agreed upon.Financing will be provided from local banks for the projectsIn the statement made by Global Investment Holdings to the Public Disclosure Platform (KAP); “Although it is not possible to make a definitive judgment on the timing and whether the final conditions will be met, it is expected that the concession rights in Las Palmas de Gran Canaria, Arrecife and Puerto del Rosario cruise ports will begin to be exercised in the 4th quarter of 2022. Developments on the subject will continue to be shared with the public.GPCI will invest approximately 40 million Euros for the new terminal building in Las Palmas, the Marmoles quay in Arrecife, and the modular terminal facilities in Puerto del Rosario in Fuerteventura. While it is planned to provide financing for the project from local banks, the financing negotiations have reached an advanced stage. Borrowing metrics, on the other hand, are expected to be in line with the Group's past peers.Vigo Cruise Port has also been added to the portfolioBesides developments in Canary Islands ports, GPH is also taking initiatives to expand its small port network in Europe. In addition to the previously announced Crotone Cruise Port in Italy, which is expected to host approximately 24 thousand passengers in 2022, Vigo Cruise Port in Spain has been added to the GPH portfolio.GPH started non-exclusive cruise operations at Vigo Cruise Port through a 50-50 joint venture with local partners, under a concession agreement valid until the end of 2024. Added to its portfolio by GPH, Vigo Cruise Port has the capacity to serve four small cruise ships or two large cruise ships at the same time. With the GPH protocols and operational standards, Vigo cruise port will now be able to perform both transit and homeport operations. As part of GPH's operations in Vigo, the expected number of flights in 2022 is 11.'We are strengthening our position as the biggest in the world'Global Ports Holding Chairman and CEO Mehmet Kutman said, “As the world's largest cruise port operator, we remain true to our strategy of further growth in this area. We are bringing our international experience and business model in cruise port operations to the Canary Islands. We also expanded our small port network with Vigo. Thus, on the one hand, we strengthen our position as the world's largest cruise port operator, on the other hand, we enter the capillaries of cruise tourism. We continue to evaluate and negotiate rational opportunities to expand our portfolio.”
global ports holding (GPH) adds Las Palmas de Gran Canaria Cruise Port, located in Spain's Canary Islands, to its portfolio, increasing the number of ports it operates to 22. In addition, while GPH continues its efforts to expand its small port network in Europe, it added Vigo Cruise Port in Spain to its portfolio.Mehmet Kutman, Chairman and CEO of Global Ports Holding, said, “We are bringing our international experience and business model in cruise port management to the Canary Islands. We also expanded our small port network with Vigo. Thus, on the one hand, we strengthen our position as the world's largest cruise port operator, on the other hand, we enter the capillaries of cruise tourism.”Global Ports Canary Islands (GPCI), in which Global Ports Holding (GPH), a subsidiary of Global Investment Holdings and the world's largest cruise port operator, has an 80% share, is Las Palmas de Gran Canaria Cruise Port, located in the Canary Islands of Spain. Agreed on the provisions of the concession agreement for the operation of the operations of the company for 40 years. Thus, with the addition of Las Palmas de Gran Canaria cruise port to the portfolio, the total number of cruise ports operated and managed by GPH in the Caribbean, Mediterranean, South Atlantic, Asia and Northern Europe cruise regions increases to 22.While negotiations are continuing on the Concession Agreements regarding the cruise ports "Arrecife (Lanzarote)" and "Puerto del Rosario (Fuerteventura)", which are included in the proposal of GPH and whose concession periods are 20 years, these two ports will continue until 30 September 2022. The relevant concession agreements are expected to be agreed upon.Financing will be provided from local banks for the projectsIn the statement made by Global Investment Holdings to the Public Disclosure Platform (KAP); “Although it is not possible to make a definitive judgment on the timing and whether the final conditions will be met, it is expected that the concession rights in Las Palmas de Gran Canaria, Arrecife and Puerto del Rosario cruise ports will begin to be exercised in the 4th quarter of 2022. Developments on the subject will continue to be shared with the public.GPCI will invest approximately 40 million Euros for the new terminal building in Las Palmas, the Marmoles quay in Arrecife, and the modular terminal facilities in Puerto del Rosario in Fuerteventura. While it is planned to provide financing for the project from local banks, the financing negotiations have reached an advanced stage. Borrowing metrics, on the other hand, are expected to be in line with the Group's past peers.Vigo Cruise Port has also been added to the portfolioBesides developments in Canary Islands ports, GPH is also taking initiatives to expand its small port network in Europe. In addition to the previously announced Crotone Cruise Port in Italy, which is expected to host approximately 24 thousand passengers in 2022, Vigo Cruise Port in Spain has been added to the GPH portfolio.GPH started non-exclusive cruise operations at Vigo Cruise Port through a 50-50 joint venture with local partners, under a concession agreement valid until the end of 2024. Added to its portfolio by GPH, Vigo Cruise Port has the capacity to serve four small cruise ships or two large cruise ships at the same time. With the GPH protocols and operational standards, Vigo cruise port will now be able to perform both transit and homeport operations. As part of GPH's operations in Vigo, the expected number of flights in 2022 is 11.'We are strengthening our position as the biggest in the world'Global Ports Holding Chairman and CEO Mehmet Kutman said, “As the world's largest cruise port operator, we remain true to our strategy of further growth in this area. We are bringing our international experience and business model in cruise port operations to the Canary Islands. We also expanded our small port network with Vigo. Thus, on the one hand, we strengthen our position as the world's largest cruise port operator, on the other hand, we enter the capillaries of cruise tourism. We continue to evaluate and negotiate rational opportunities to expand our portfolio.”
