Global Ports Regulatory News (GPH)

Global Ports Holding Plc

Tarragona Cruise Port agreement

Global Ports Holding Plc ("GPH" or "Group"), the world's largest independent cruise port operator, is pleased to announce that the Tarragona Port Authority ("Port Authority") has awarded Global Ports Holding a 12-year concession, with a 6-year extension option, to manage the services for cruise passengers in Tarragona, Spain.

In Q3 2021, a €30m investment into the port infrastructure in Tarragona Port was completed. This investment programme included a new cruise pier in the "moll de balears" which can now handle the world's largest cruise ships, while berth capacity has been doubled to four ships at any one time. In addition, as well as expanding the general area available for cruise operations, the Port Authority has invested in the provision of shore power, which will significantly reduce the Co2 emissions from cruise ships while they are in port.

Under the terms of the agreement, GPH will invest up to €5.5m into building a new state of the art modular cruise terminal, which will utilise solar power to ensure the sustainable provision of the terminal's energy needs. The new terminal will provide cruise passengers with an improved port experience, including retail and F&B opportunities, while new coach and car parking facilities will significantly improve the ports transport infrastructure. The innovative modular design of the terminal will provide maximum flexibility to adapt the terminal to meet future capacity needs and to provide a vibrant and exciting event space in Tarragona.

In 2019, prior to the increase in berth capacity, Tarragona cruise port welcomed c130k cruise passengers. Tarragona is situated less than an hour's drive from Barcelona airport and the recently completed investment into the port infrastructure and the planned new terminal will significantly improve the port's attractiveness for turnaround operations in the region.

The addition of Tarragona to GPH's cruise port network means than upon the successful conclusion of all outstanding and previously announced concession agreement awards, the total number of cruise ports GPH operates and manages will rise to 23.

Emre Sayin, Chief Executive Officer, said:

"Tarragona Cruise Port is an important addition to our cruise port network, strengthening our growing presence and capabilities in the Iberian Peninsula and the West Med.  

We are very grateful to Tarragona Port Authority for placing their trust in GPH as the operator of Tarragona Cruise Port and we very much look forward to working with all stakeholders to grow cruise passenger volumes in Tarragona sustainably and responsibly."