May 14, 2021

Global Ports keen to expand in Caribbean and Asia as cruise market booms

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“Cruise ports are where airports were thirty years ago”

Global Ports Holding PLC (LON:GPH) is tapping into a market that will grow 50% over the next five years, says Emre Sayin, chief executive.

“Cruise ports are where airports were thirty years ago,” he told Proactive.

Many are state-owned and governments see them as a utility.

As the size of the ships grows and more passenger services are required, it needs professional excellence, marketing and investment to improve the passenger experience.

The cruise market is growing at 5-6% per year but ports cannot keep up and that’s where GPH comes in.

“Governments like what we do, as we invest in the infrastructure and operate the port more efficiently.

The cruise lines, too, are happy and the number of tourists increases.”

GPH’s ports handle 7.3mln visitors per year and generate US$80mln underlying profits with a lot of cash being generated, which has been earmarked for purchases of more ports.

Already the world’s largest private port group, Sayin says it wants to use its Mediterranean-base to build on its footholds in Asia and the Caribbean and become ‘truly global’.

“We are an acquisitive business.”

Global Ports Holding is the world’s largest cruise port operator with an established presence in the Mediterranean, Atlantic and Asia-Pacific regions, including extensive commercial port operations in Turkey and Montenegro.

IMAGE: Ships are only getting bigger

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