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Flinders Ports buyout Adelaide Container Terminal

Flinders Ports buyout Adelaide Container Terminal
Adelaide: Australia's private port operator Flinders Ports has bought a remaining 60% stake in Adelaide Container Terminal from DP World South Australia.

Three years ago, Flinders Ports acquired a 40% stake in the container terminal business, which handles some 260,000 containers a year.

The acquired unit will be renamed Flinders Adelaide Container Terminal, according to Flinders Ports, the operator of Adelaide port and six other South Australia ports.

In recent years, we have invested heavily in the container terminal, and the general surrounds,” said Vincent Tremaine, ceo of Flinders Port Holdings.

We have also redeveloped the container terminal's berth precinct, including extending its length so two of these larger vessels can berth concurrently. And last year the terminal commissioned a new post panamax container crane to further improve the efficiencies of loading and unloading containers at the terminal,” he said.

Tremaine said financial details of the deal were confidential.

TAGS: Ports
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