DCT Gdańsk, Poland’s largest container terminal,is set to be sold following an agreement between its current owners and a group including PSA International (PSA).
PSA, Polish Development Fund (PFR) and the IFM Global Infrastructure Fund managed by IFM Investors, have signed an agreement to jointly acquire 100% of the shares of DCT Gdańsk from Macquarie Infrastructure and Real Assets managed fund Global Infrastructure Fund II, MTAA Super, AustralianSuper and Statewide Super. This is subject to formal approval by competition authorities.
DCT Gdańsk is at the crossroads of the Baltic deepsea trading routes, holding a strategic position as a gateway into Poland and central eastern European markets. The port was constructed in 2005 with the outgoing shareholders facilitating the greenfield development of the port and overseeing 13 years of transformational growth. Following a significant capital expenditure programme, the port’s capacity doubled in 2016 with a second quay added.
Container volumes have grown steadily over the years to reach 1.9M TEU in 2018.
The port is one of the 15 largest container ports on the continent. With a quay length of 1,306 m and a maximum depth of 17 m, the terminal is well-equipped to handle the largest container vessels. In fact, DCT Gdańsk is the only terminal in the Baltic that can serve ultra large container vessels.
PSA International group chief executive Tan Chong Meng said “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. 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.”
PFR chief executive Pawel Borys said “We are pleased we managed to successfully complete the acquisition of a special asset – the only deepwater container terminal in Poland and the entire Baltic Sea basin. 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 constructing a new terminal in the coming years.”
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.”
To further develop DCT Gdańsk, PSA, PFR and IFM Investors said they would explore constructing a new expansion area and further increasing capacity.