Global Ports


Global Ports is the leading operator of container terminals in the Russian market by throughput capacity and cargo turnover.
Global Ports’ terminals are located in the Baltic and Far East basins, the key regions for foreign trade shipments. Global Ports operates five container terminals in Russia: Petrolesport, First Container Terminal, Ust-Luga Container Terminal and Moby Dik on the Baltic sea, and Vostochnaya Stevedoring Company in Vostochny Port. It also operates two container terminals in Finland: Multi-link in Helsinki and Kotka. Yanino Logistics Park is also a part of Global Ports and is located near Saint Petersburg.

History

From the 1990s to the beginning of the 2000s, key companies which are part of the Group were created during privatisation and a number of reformations.
Global Ports was founded in 2008 based on N-Trans group’s assets. In 2007, its co-owners Konstantin Nikolaev, Nikita Mishin and Andrey Filatov acquired 100% of Severstaltrans shares, buying 50% from Alexei Mordashov and renamed the company N-Trans. The Group is now comprised of Vostochnaya Stevedoring Company, Petrolesport, Moby Dick container terminal, Yanino Logistics Park and 50% of the oil terminal Vopak E.O.S.
In 2011, Global Ports made its stocks available for public purchase through an IPO on the London Stock Exchange. The company’s worth was estimated to be $2,35 bln. The total flotation value was $534 mln. From that amount, $100 mln were received by Global Ports and the rest went to N-Trans. Free float was 25%.
In November 2012, APM Terminals, part of Maersk, bought half of N-Trans’ Global Ports’ shares, which was 37.5%. The transaction value was not disclosed, although the shares market value at the time of transaction was around $860 mln. In preparation of the deal, Global Ports bought 25% of Vostochnaya Stevedoring Company from the Arabic port operator DP World for $230 mln.
In 2013, Global Ports bought National Container Company. The deal included 100% of First Container Terminal, 80% of Ust-Luga Container Terminal and 100% of Logistika Terminal. Global Ports paid for 100% in NCC $291 mln and 18% of its shares, which resulted in the main Global Ports stockholders’ shares dropping from 37.5% to 30.75%, free float declining from 25% to 20.5%; structures of previous NCC shareholders — Andrey Kobzar and First Quantum Management — received 9% of Global Ports shares.
In 2017, Global Ports sold 100% of CJSC Logistika Terminal to TransContainer for 1,9 bln roubles.
In 2018, the Delo Group bought out N-Trans’ part in Global Ports. The transaction amount was not disclosed.
In 2019, Global Ports sold VEOS terminal in Estonia.

Assets

The total capacity of Global Ports’ marine container terminals is 4,4 million TEU, the terminal area is 400 hectares and it has 3,200 employees.

First Container Terminal

JSC First Container Terminal is the largest and oldest container terminal in Russia. It is located in Big port Saint Petersburg. It was founded in 1973 and was the first specialised container terminal. In 1998, a corporation named First Container Terminal was founded on the basis of the container terminal in Saint Petersburg port. FCT is connected by regular feeder traffic with the main European ports, such as the Port of Rotterdam, the Port of Hamburg, the Ports of Bremen and the Port of Antwerp. It is connected with the central region of Russia via railways and highways and to main ports of the west Baltic sea via ferry lines.

Petrolesport

JSC Petrolesport is a stevedoring company, operating in North-West of Russia. The company is located in the Saint Petersburg offshore zone on the Gutuevsky, Volny, Gladky and Grebenka islands. It is connected with the central part of Russia via railways and highways and to main ports in the west Baltic sea via ferry lines. The terminal’s history dates back to the Timber port which was created at the end of the XIX century.
The company handles various cargoes, but primarily container and ferry cargoes. The specialised container terminal is the second largest by capacity in Russia and CIS and has the greatest space for refrigerated containers in the region.
Petrolesport ferry terminal is one of the largest complexes for handling ro-ro cargoes in Russia. In 2019, a new temperature-controlled trans-shipment complex started operations at Petrolesport, and became the biggest repacking hub in Big port Saint Petersburg.
Terminal’s figures: total area is 119 hectares, throughput capacity is 1 million TEU, throughput ferry capacity is 30/190 units accordingly, berth length is 2,078m, alongside depth is up to 13m, container area capacity is 26,500 TEU, refrigerator area capacity is 3,510 sockets, the area for storing light motor vehicles is 10,000 units, and the railway length is 6,816m.

Vostochnaya Stevedoring Company

Vostochnaya Stevedoring Company is the largest container terminal in the Russian Far East. It is located in the deep-water nonfreezing Pacific Ocean in Vostochny Port, in the Vrangel district close to the city of Nakhodka. The container terminal, which became the basis for the company, was founded in 1976 and was the second specialised container terminal in the USSR. VSC has direct access to the Nakhodka-Vostochnaya railway station and it is the starting point of the Trans-Siberian Railway.
One of the most important services of VSC is forming and dispatching block trains. VSC handles ro-ro vessels, provides services and the storing of refrigerated containers. A specialised complex for handling coal has operated since 2011. VSC is a part of AE19 Eastbound — a multimodal container service from North European countries to Asia via Saint Petersburg. Total throughput capacity is 650,000 TEU a year.

Ust-Luga Container Terminal

JSC Ust-Luga Container Terminal is a terminal located in a deep-sea Ust-Luga port in the Luga Bay in the Gulf of Finland. Global Ports’ partner in ULCT is the German container operator .
The first vessel was handled at the terminal on 29 December, 2011. The construction has three stages. The throughput capacity of the first is 440,000 TEU. The total area is 38,7 hectares, the berth length is 440m, alongside depth is 13,5m, the railways length is 3,232m, the container site capacity is 15,000 TEU, the refrigerator area capacity is 2,000 TEU and 420 sockets. The investment program will expand the throughput capacity up to 2,85 mln TEU.
From December 2018, the terminal started handling coal. Railway infrastructure and terminal capacity allows it to handle up to 1 million tonnes of coal a year.

Moby Dick

Moby Dick LLC is a marine cargo terminal, which is located in Kronstadt on the Kotlin Island in the entrance of Big port Saint Petersburg. The terminal construction began in 2000, and in 2002 Moby Dick handled its first vessel. The terminal transfers container, bulk, general, large and ro-ro cargoes. Global Ports owns 75% of the terminal, and the other 25% is owned by CMA Terminals, which is a part of CMA CGM. The terminal has direct access to the Saint Petersburg ring road and is located near the Nissan and Hyundai factories. The terminal has a border checkpoint Litke Base, Kotlin Island and the Baltic customs station Kronshtadtskiy.

Yanino Logistics Park

Yanino Logistics Park is a multifunctional transportation and logistics complex, a dry port, initially created for expanding warehouse capacity for the Saint Petersburg and Kronstadt terminals. It is located 1,5 km away from the Saint Petersburg ring road and connected with Petrolesport by rail. Built in 2010, it started operating at a full capacity from May 2011. Global Ports owns 75% of Yanino, with the other 25% owned by CMA Terminals.

ROLIS

ROLIS LLC is a specialised IT-systems provider for Global Ports’ companies and other transportation enterprises in the transportation sector. The company was created in 2004 as a First Container Terminal information service. With the participation of ROLIS, the FCT became the first of the Russian stevedore companies to introduce digital signatures in 2009 and the first to introduce the mechanism of the electronic data interchange with the Federal Customs Service of Russia in 2013. It became the first Russian terminal in Russia to provide fully digital documental flow on the all stages of cargo handling process in 2015. In 2020, FCT was the first in Russia to fully digital paperwork for export.

Multi-Link Terminals

Multi-Link Terminals Ltd Oy operates two terminals in Finland. Multi-Link Terminals was founded in 2004 as a stevedore subsidiary of Containerships shipping line. The terminal in West Harbour in Helsinki started operating first and in 2005, the terminal in Kotka was launched. 75% of Multi-Link Terminals is owned by Global Ports, with the other 25% owned by CMA Terminals.
In 2008, all operations from the West Harbour were transferred to the new Vuosaari Harbour as part of the programme for freeing the historical city from cargo terminals. MLT-Helsinki, among other transferred terminals, started operating in the new port. The terminals are orientated to Finnish export and import shipments, as well as to Russian transit.

Financials

Global Ports’ total revenue for 2019 was $361,9 mln and adjusted EBITDA was $226,9 mln. In 2019, the consolidated marine container throughput of the group was 1439 thousand TEU.
; Financial Data
Year20152016201720182019
Revenue 405.7331.5330.5343.6361.9
Adjusted EBITDA 291224.3201.6217.3226.9

Global Ports is the leading container operator in Russia, with a share of 51% in the Baltic and 30% in the Far East basins, as at the end of 2018. In the first quarter of 2020, the group’s share was 31.2% of the Russian container market.
; Operational Performance
Year20152016201720182019
Consolidated container throughput
performed by marine terminals 		1 8341 1281 2051 3521 439
Consolidated
bulk cargo turnover 		1.322.212.73.123.7

Credit ratings: Fitch Ratings — BB+, Moody's — Ba2, RA Expert — RuA+1.

Owners and Management

The main shareholders of Global Ports are the Russian transportation and logistics holding Delo Group, and APM Terminals international holding, which is a part of the Maersk shipping company. 20,5% of the shares are being exchanged in form of GDR at the London Stock Exchange.
Albert Likholet became director general of Global Ports on 16 July 2020. He is also the head of Petrolesport and First Container Terminal. He replaced a former head of the Delo Group Vladimir Bychkov, who headed Global Ports from 2018 until 2020. The Global Ports Investments PLC board of directors has 11 members. The chairman is Soren Jacobsen, who represents APM Terminals.