Euroports
Euroports owns a portfolio of port concession businesses in key strategic locations throughout Europe and in China. The portfolio operates in an unregulated economic environment and with a mixture of long-term and short-term contracts. Euroports is a diversified port operator with capabilities across all cargo segments including heavy dry bulk, specialty dry bulk, liquid bulk, general cargo and containers. With port operations in 16 locations across continental Europe, Euroports has 485 hectares of long-term port concessions and over 31 kilometres of quay length.
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Description
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Concession port businesses
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Operating Platform
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Fee For Service
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Location
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Strategic locations in Europe and China
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Assets Owned
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Water Container Transport (Belgium) – July 2006
Tarragona Port Services (Spain) – May 2007
Manuport (Belgium, France, Bulgaria) – July 2007
Terminal Rinfuse Italia (Italy) – August 2007
Rauma Stevedoring & Botnia Shipping (Finland) – October 2007
Westerlund (Belgium, France, China) – December 2007
Seehafen Rostock (Germany) – December 2007
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Investment
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60% (1) of Euroports which has a 100% interest in all underlying ports except TRI (80%) and Rostock (50%)
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Regulatory Environment
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Unregulated
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Customer Base
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Mainly servicing industrial customers in the immediate hinterland of the ports on varied contract terms. The majority of of key customers are long term customers who have been with the respective port businesses continuously for between 10 and 30 years
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Asset Age & Condition
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Assets are generally in good condition
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Revenue Assurance
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Mixture of long-term and short-term contracts in place common to the port industry. High revenue assurance from the hinterland trade and specialist facilities components of each business
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Key Drivers
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Demand for bulk and general commodities (generally for primary industries) in the geographic hinterlands and both European and global trade
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(1) Antin IP holds a convertible bond which would convert into a further 5.97% of the equity in the Company, leaving Prime Infrastructure holding a 60% interest. After 2013, Prime Infrastructure's ultimate owership interest in Euroports will depend on Euroports performance in 2012 and 2013 based on a share equalisation scheme.
For further information click on link to Euroports website: http://www.euroports.net/