Global Ports to take over services at Liverpool Cruise Port
03/04/2024 08:05
April 3 (Reuters) - London-listed Global Ports Holding
GPH.L on Wednesday signed a 50-year contract to operate cruise
services at the Liverpool Cruise Port, betting on the growing
Northern European and British and Irish cruise markets.
WHY IT'S IMPORTANT
Liverpool is a major cruise destination for both American
and European travellers, acting as a gateway to the Northern
European and Round Britain cruise markets, Global Ports said.
There has been a boom in cruise travel over the past year,
with travel agents and U.S. cruise operators expecting 2024
travel volumes to be higher than pre-pandemic levels as they are
still cheaper than land-based alternatives for travellers across
income and budget levels.
CONTEXT
Liverpool Cruise Port is currently unable to meet the
increasing demand due to infrastructure restrictions, said
Global Ports, which expects to take over operations this month.
BY THE NUMBERS
Under the agreement with Mersey Docks And Harbour Company,
Global Ports will invest up to 25 million pounds ($31.4 million)
in the development of the port's infrastructure.
The investment is expected to enable Liverpool Cruise Port
to cater to over 200,000 passengers in 2024 compared with
186,000 last year. This number is expected to exceed 300,000 per
annum upon completion of infrastructure development, the company
added.
($1 = 0.7956 pounds)
(Reporting by Prerna Bedi in Bengaluru; Editing by Eileen
Soreng)
((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))