DJ 50-year agreement signed for Liverpool Cruise Port
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 GBP25 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: martinb@globalportsholding.com
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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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(END) Dow Jones Newswires
April 03, 2024 02:00 ET (06:00 GMT)
