The deal by PSA, PFR and IFM Investors to buy Poland's largest container terminal is subject to formal approval by the relevant competition authorities. It also marks PSA's first foray into Eastern Europe.
DCT Gdańsk is situated at the crossroads of the Baltic deepsea trading routes and holds a strategic position as a major gateway into Poland and Central-Eastern European markets.
The construction of the port began in 2005 and following a significant capital expenditure programme, the port’s capacity doubled in 2016 with the completion of a second quay. Container volumes have grown steadily over the years to reach 1.9m teu in 2018.
DCT Gdańsk is the fastest growing container port in Europe and is ranked amongst the 15 largest container ports on the continent.
DCT Gdańsk, with a quay length of 1,306 metres and a maximum depth of 17 metres, is the only terminal in the Baltic that can serve ULCs (ultra large containerships), the world’s largest container ships with a capacity of up to 23,000 teu. It provides shipping lines and end-customers with a reliable and cost-effective alternative to the ports of Northern Europe, servicing direct connections with Asia all year round.
Given the constant growth and development of the business, the terminal is expected to reach full capacity utilisation in the upcoming years. To allow for further development of DCT Gdańsk, PSA, PFR and IFM Investors will explore the construction of a new expansion area and further increases in capacity.
“DCT Gdańsk is PSA’s first investment in Eastern Europe, and we look forward to working closely with our partners PFR and IFM to further develop its facilities and to strengthen its position as the preferred port of call for Poland and the Baltic Sea,” said Tan Chong Meng, group ceo of PSA International.
“Through leveraging our global network and our expertise in creating value for the port and shipping communities, PSA will partner with shipping lines, logistics operators and cargo owners to deliver more efficient, flexible and robust supply chain solutions for the region.”
“I believe that the unique combination of local and international content, as well as PSA’s operational know-how will reinforce DCT Gdańsk for further growth. The new owners support DCT’s ambitious expansion plans, including construction of a new terminal in the coming years to utilize and leverage economic growth of Poland and the CEE,” said Pawel Borys, ceo of PFR.
IFM Investors global head of infrastructure, Kyle Mangini, said: “We are delighted to further consolidate our existing partnership with global leader in port operations, PSA, and join leading Polish fund PFR, whose insight into the Polish market has been invaluable to the consortium. The transaction also marks another investment for IFM in a core infrastructure asset in Poland, expanding upon our long-standing presence in the country.”