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HPH signs container port agreement with Ports of Stockholm

HPH signs container port agreement with Ports of Stockholm

Hong Kong: The Ports of Stockholm and Hutchison Port Holdings (HPH) jointly signed a concession agreement yesterday that grants HPH the right to operate the container terminal within Stockholm Free Port from 1 March 2009. The agreement also paves the way for HPH to develop new container-handling facilities at the Port of Nynäshamn (artists impression pictured), Norvikudden, approximately 60 kilometres south of Stockholm.

The City of Stockholm, the Ports of Stockholm and HPH jointly hosted a press conference in Stockholm Harbor to announce the signing of the agreement.

"HPH's commitment to the long-term development of modern container-handling facilities in the Port of Nynäshamn will strengthen our capability in the Baltic region," said Ulla Hamilton, Vice Mayor of the City of Stockholm and Chairman of Ports of Stockholm, at the conference. "We believe a world-class port will help integrate other intermodal services, creating a comprehensive logistical network for efficient cargo flow throughout the Stockholm region."

Commenting on the concession agreement, John Meredith, group md of HPH said, "HPH is pleased to participate in the development plans for the Ports of Stockholm. This supports our strategy of increasing our presence in growing markets especially those as geographically significant as Stockholm and Nynäshamn. With an extensive international network of ports and expertise in container terminal operations, we will be able to enhance the Ports of Stockholm's competitiveness in the Baltic region and provide our customers with value-added services."

"Today's agreement will strengthen the Ports of Stockholm's market position. The next challenge for the Ports of Stockholm is to establish the port Stockholm-Nynäshamn, Norvikudden, where HPH's decades-long experience in mega-port operations will be a great asset," said Christel Wiman, CEO of Ports of Stockholm.

The 25-year agreement gives HPH operational rights for a new container terminal in Stockholm- Nynäshamn, Norvikudden. The terminal will cover an area of 25 hectares and will be developed in three phases with a quay length of 800 metres and a depth alongside of 15 metres. The new terminal is expected to be operational in 2012. [18/12/08]