ICTSI pens tricennial lease for Baltic Container Terminal

ICTSI signs 30-year lease for Baltic Container Terminal

International Container Terminal Services Inc. (ICTSI) and the Port Authority of Gdynia SA have signed a new 30-year lease for the Baltic Container Terminal (BCT) in Poland. 

The new lease will run until 2053, extending the tenure of BCT under the management and operation of Philippine-headquartered ICTSI – 100 per cent owner of BCT.

ICTSI has been active in the Port of Gdynia since 2003, investing more than $100 million in the terminal’s facilities, personnel and general service capability.

Future investments will complement work underway by the Port Authority to upgrade the port infrastructure to facilitate the access and handling of larger vessel sizes, said the company.

Stage 1 of works is complete, enabling BCT to handle vessels with an overall length of up to 366 metres.

Subsequent developments will provide access for and the handling of much larger vessels of up to 400 metres.

READ: ICTSI delivers PNG’s first STS cranes

“We are pleased to extend our long and positive relationship with the Port of Gdynia,” said Hans-Ole Madsen, ICTSI Senior Vice President, Regional Head – Europe, Middle East and Africa (EMEA).

“We look forward to playing our part in the next growth phase foreseen for the port and to rolling out new investments in a sustainable way that will meet the latest client requirements, build the terminal’s strategic attributes and maximise positive economic impact across the board, for BCT, the port and city as a whole.”

BCT is a key maritime gateway for feeder services, relaying cargo to/from the main North European hubs and as a main port of call for direct services between Europe, the US and Asia.

The terminal processes approximately 250 intermodal trains operated by 13 intermodal operators on a monthly basis.

Container cargo moved by rail accounts for 30 per cent of annual throughput.

Last month, ICTSI reported unaudited consolidated financial results for the nine months of 2022, posting revenue from port operations of $1.64 billion.

The sum stands for an increase of 20 per cent from the $1.37 billion reported for the same period in 2021.

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