Global Ports Regulatory News (GPH)

Global Ports Holding Plc

Commencement of operations at Taranto Cruise Port

Global Ports Holding Plc ("GPH" or "Group"), the world's largest independent cruise port operator, is pleased to announce that, further to the Group's announcement on 16 November 2020, it has now signed a 20-year concession agreement with the Autorità di Sistema Portuale del Mar Ionio and taken over the management of the cruise terminal and cruise services in the Port of Taranto, Italy.

The cruise port infrastructure in Taranto is currently undergoing a state-funded, c€28m investment program, including building a new cruise terminal. The construction of these new facilities is scheduled for completion by the end of 2022. We are very pleased to announce that today Taranto Cruise Port will provide partial turnaround services to a cruise ship for the first time. MSC Seaside will be calling at Taranto Cruise Port throughout the Summer season.

In 2019, the Taranto Cruise Port welcomed c9k cruise passengers, with a pre Covid-19 forecast of over 14k passengers in 2020. The addition of turnaround operations so early in our management is testament to the benefits our global expertise and operating model can bring to a cruise port. Taranto Cruise Port is now expected to have a record year in 2021, welcoming passenger volumes well in excess of pre Covid-19 levels.

Emre Sayin, Global Ports Holding, Chief Executive Officer, commented:

"I am delighted that we have started cruise operations in Taranto. The commencement of our operations here and the welcoming of a ship in turnaround for the first time at Taranto Cruise Port is proof of the benefits we can bring to cruise ports and destinations. In collaboration with our local stakeholders, we intend to transform Taranto into one of the highlights of Southern Italian itineraries, driving higher passenger volumes and creating economic value for our local stakeholders."