PSA Sinport’s Voltri Terminal Europa (VTE) in Genoa and P&ONL have firmed up the deal whereby the carrier gets a 30 per cent stake in the facility, with an option for a further seven per cent, following the letter of intent signed earlier this year.
As previously reported (see WorldCargo News February 2005, p8 and August 2004, p8) VTE needed to attract traffic from Contship Italia’s La Spezia Container terminal (LSCT) in order to increase utilisation to levels acceptable to Genoa port authority (APG) and prevent Contship Italia from taking over new modules at Voltri. APG had even threatened to abrogate VTE’s concession entirely because of its poor performance and low productivity....
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This complete item is approximately 400 words in length, and appeared in the April 2005 issue of WorldCargo News, on page 7.
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