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04 December 2021 The on-line newspaper devoted to the world of transports 19:11 GMT+1

November 12, 2021

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In the first nine months of 2021 the revenues of Global Ports Holding increased by +19%

Global Ports Canary Islands has been selected as preferential tenderer for the assignment of the management of cruise activities of the port of Las Palmas

In the first nine months of 2021 the Global Investment group Istanbul Holdings (GIH) reported revenues of €1.05 billion of Turkish lira (106 million dollars), with a significant increase +33% on the corresponding period of 2020. The significant increase is was produced mainly by the group's activities in the gas, energy, mining and insurance and asset management sectors. Growing, however, also the revenues of GIH's port division, established by the active company Global Ports Holding (GPH) mainly in the segment of cruises, which amounted to 157.1 million Turkish lira (+19%), a division that totaled a EBITDA of a negative sign and equal to -21.5 million Turkish Lira compared to a result also of negative sign for -7.3 millions in the first nine months of 2020. Relative to the trend of the gross operating margin, GIH specified that in the period January-September last year results benefited of the first contribution before the pandemic generated by ports Caribbean.

The Turkish group has announced that in the first nine months of this year the traffic of cruise passengers in their port terminals grew by +679%, with 499 thousand passengers enlivened in the only third quarter of 2021 compared to 64 thousand in the quarter previous thanks to the progressive resumption of activities cruises that last September allowed all the GPH's terminal to register cruise ship stopovers. GIH has specified that, on a like-for-like consolidation basis, September 2021 the group's cruise terminals received 53% of stopovers and 30% of passengers compared to September 2019.

Confirming the resumption of cruise traffic, the group specified that in the third quarter of this year the terminals passengers have started to generate a positive EBITDA that is result of 1.2 million Turkish Lira compared to a result negative sign for -17.2 million in the period July-September of 2020.

Meanwhile, the Global Ports Canary Islands (GPCI), a joint venture 80% and 20% owned by Global Ports Holding respectively from the Spanish Sepcan of Las Palmas, was selected as a preferential tenderer in the tendering procedure for task management assignment cruises of the port of Las Palmas, in the Canary Islands, with contracts of concession that, in addition to the airport of Las Palmas, will include also the cruise activities of the ports of Arrecife (Lanzarote) and Puerto del Rosario (Fuerteventura) and which will have respectively a duration of 40, 20 and 20 years.

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