ICTSI Inks Lease For Baltic Container Terminal

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International Container Terminal Services Inc. (ICTSI) said on Tuesday it has signed a new 30-year lease with the Port Authority of Gdynia SA for the Baltic Container Terminal (BCT).

Management and Operation

The new lease, which will be effective until 2053, extends the tenure of BCT under the management and operation of ICTSI, the 100 percent owner of BCT. “We are pleased to extend our long and positive relationship with the Port of Gdynia, said Hans-Ole Madsen, ICTSI SVP and Regional Head for Europe, Middle East and Africa (EMEA). “We look forward to playing our part in the next growth phase foreseen for the port and to rolling out new investments in a sustainable way …”

Since 2003, ICTSI has been active in the Port of Gdynia. So far, it has invested $100 million in the terminal’s facilities, personnel, and general service capability. With the new lease, ICTSI expects “future investments… to easily match and exceed this figure and will initially complement work underway by the Port Authority of Gdynia S.A. to upgrade the port infrastructure .

Handling Larger Vessels

According to ICSTI, Stage 1 works have been completed, enabling BCT to handle vessels with a length overall (LOA) of up to 366 meters. Subsequent developments will provide access for and the handling of much larger vessels of up to 400 meters LOA.

BCT CEO Wojciech Szymulewicz said the port “functions as a key maritime gateway for feeder services, relaying cargo to/from the main North European hubs and as a main port of call for direct services.

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Source: Businessmirror