MILAN, June 16 (Class Editori) — Mediterranean Shipping Company (MSC) is reportedly considering the acquisition of a controlling stake in Global Ports Holding, a Turkish company that controls and operates several cruise terminals around the world, active in Italy in the ports of Catania, Taranto, Crotone and Cagliari.
The Geneva-based Group founded by Gianluigi Aponte, which is competing along with Lufthansa to buy ITA Airways (former Alitalia), has reportedly already held exploratory talks aimed at a possible deal to acquire the company from Turkish Mehmet Kutman, who in Italy has recently appointed Raffaella Del Prete as General Manager.
The Turkish company's stock on the London Stock Exchange dropped about a third in the past 12 months, with a current capitalization of about 53 million pounds (63 million euros). Through a possible deal with MSC, the company could seek to reduce its debt, which amounted to 435 million dollars at the end of March.
Global Ports Holding operates 26 cruise ports in 14 different countries worldwide and is still recovering from the impact of travel restrictions, including cruises, due to the COVID-19 pandemic. The company has just returned to achieve a profit in the 12 months ended March 31. Insights are allegedly ongoing and there is no absolute certainty on an offer from MSC.
Because of the conflict in Ukraine, Turkey is also returning to a very central position in trade within the Mediterranean and particularly with the Port of Trieste, where MSC is actively operating.
Global Ports Holding is just the latest dossier being worked on by the MSC Group, which in the past two years has been making a profit, thanks in particular to the increased freight rate in container shipping. After getting its hands on Bolloré Africa Logistics (for 5.7 billion euros) and entering the Moby Group (bringing to the table at least 80 million euros), Aponte's Group is finalizing its bid to take over —along with Lufthansa— the airline ITA Airways as well.
In Genoa, on the sidelines of the first CLIA Europe Summit, MSC Crociere's Executive Chairman Pierfrancesco Vago told MF-Milano Finanza that "currently the ship fill rate stands at over 70%" but "the booking curve is very under date" compared to the departure.
"Cruising works and is in great demand because, on the one hand, it gets you back out of the house and, on the other hand, it still has an important economic advantage" compared to other types of vacations. The current trend of bookings under date at this time does not allow the ships to be completely filled, but thanks to "technology and digitization we are able to accommodate and support even last-minute demand.
Many cruise passengers book their vacation directly on the website or through call centers. With technology we are supporting this demand that has gone crazy, at times higher than in 2019". For a full return to normalcy and a total filling of ships, according to Vago, we will have to wait until 2023.
(Source:Class Editori)
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