Great Yarmouth project

Peel Ports Group has announced that it has completed the acquisition of Great Yarmouth Port Company Limited from International Port Holdings for an undisclosed sum, rumoured to be £50M

The new 250,000 TEU/year shortsea container terminal at the UK east coast port of Great Yarmouth, operated by a joint venture between PSA International and International Port Holdings (IPH), the owner of EastPort, the privatised Great Yarmouth Port Authority, is to close before a ship has been handled.

PSA International has gained a foothold in Argentina with an agreement to buy shares in Román Group’s International Trade Logistics (ITL). This company includes Exólgan Container Terminal at Dock Sud in Buenos Aires, the country’s second largest container terminal, Exologística, a 3PL services provider, and LPI, which provides warehouse distribution space in Buenos Aires.

Global Infrastructure Partners (GIP), the private equity joint venture established by Credit Suisse and GE Infrastructure, has agreed to acquire a 25% interest in Chennai Container Terminal (CCT) through its International Port Holdings (IPH) portfolio company.

Subject to competition authority approval, PSA International will enter the UK container handling scene through a 60% stake in a joint venture with International Port Holdings (IPH) to operate a short sea container terminal in Great Yarmouth under a 30 (+30) year concession.