REG-Global Ports Holding PLC 50-year agreement signed for Liverpool Cruise Port

Global Ports HoldingAnnouncement

03/04/2024 07:15

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   Global Ports Holding PLC (GPH)
   50-year agreement signed for Liverpool Cruise Port

   03-Apr-2024 / 07:00 GMT/BST

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   Global Ports Holding Plc

   50-year agreement signed for Liverpool Cruise Port

   Global  Ports  Holding  Plc  ("GPH"  or  "Group"),  the  world's   largest
   independent cruise  port operator,  is  pleased to  announce that  it  has
   signed a 50-year agreement with Peel Ports Group’s subsidiary, The  Mersey
   Docks And Harbour  Company Ltd,  to operate cruise  services at  Liverpool
   Cruise Port. GPH  expects to  take over operations  of the  port in  April
   2024.

   The City of  Liverpool is one  of the UK’s  most visited cities,  offering
   tourists significant  opportunities  to  engage in  the  arts,  especially
   music, architecture and, of course, its historic football teams.

   Liverpool Cruise Port  is well-positioned  to participate  in the  growing
   Northern European  and  British and  Irish  cruise markets.  It  has  good
   airport connectivity,  with two  international airports  within an  hour's
   drive, providing significant potential to act as a gateway to the Northern
   European and  Round  Britain  Cruise Markets  for  American  and  European
   passengers, as well as being well-positioned to act as a home port for the
   domestic passenger market.

   Port investment

   As part of this agreement, GPH  will pay certain upfront charges, and  (in
   certain circumstances) annual charges,  in each case,  the terms of  which
   are confidential. Liverpool Cruise Port has the potential for  significant
   growth in  passenger volumes.  However, the  port is  currently unable  to
   satisfy  demand  on   some  days  due   to  berthing  and   infrastructure
   restrictions.

   Subject to the granting of the appropriate permits and licenses, GPH plans
   to invest  up  to £25  million  in  the ports  infrastructure,  which  all
   stakeholders believe  should  act  as  a catalyst  to  unlock  the  future
   potential. This investment  will include  the addition of  a new  floating
   dock that will increase capacity  and allow for the simultaneous  berthing
   of two 300-metre ships  and over 7,000 passengers  a day. This  investment
   will also  see the  construction  of a  new  terminal building  that  will
   enhance  the  passenger  experience  and  provide  waterfront  retail  and
   hospitality offerings that will cater  not just to cruise travellers,  but
   also to local tourists and residents.

   In 2023, Liverpool  Cruise Port welcomed  102 cruise ships  and over  186k
   passengers. This is expected to increase  to over 200k passengers in  2024
   and exceed 300k per annum once the infrastructure works are completed.

    

    

   CONTACT                                                 
   For investor, analyst and financial media enquiries:    
   Investor Relations                                      
   Martin Brown                                            
   Telephone: +44 (0) 7947 163 687                         
   Email:  1 martinb@globalportsholding.com                

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          GB00BD2ZT390
   Category Code: MSCH
   TIDM:          GPH
   LEI Code:      213800BMNG6351VR5X06
   Sequence No.:  313105
   EQS News ID:   1871839


    
   End of Announcement EQS News Service

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References

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