HUTCHISON PORTS PARTNERING WITH IRAQ TERMINAL OPERATOR

[Wiljor]

Iraq, August 24, 2017 

Hutchison Ports and the Pritzker Family Business Interests (“PFBI”), advised by The Pritzker Organization, L.L.C. (“TPO”), announced today that the leading Hong Kong-based port operator has agreed to partner with NAWAH Port Management, L.L.C. (“NPM”) to manage existing and future operations at the historic Port of Basra in southern Iraq.

Hutchison Ports will assume oversight of day-to-day commercial and operational activities at NPM, operating under the name of Hutchison Ports Basra.

NPM is a containerized terminal operator at the Port of Basra located along the Shatt Al Arab waterway in Iraq.

The company services the shipping needs for a full spectrum of customers across Iraq – from large, multinational companies to local Iraqi merchants. NPM’s proximity to the city center and major oilfields, and its operations are viewed as key competitive advantages versus other ports in the region.

Andy Tsoi, Hutchison Ports’ Managing Director (Middle East and Africa), said:

“We view NPM’s operations at the Port of Basra as an integral piece of our expanding Middle East strategy and are excited about the opportunities this partnership creates.

“We believe strongly in the growth story of Basra, Iraq, and the Middle East as a whole and are delighted to have the opportunity to participate in and support the growth of the business over the long term.”

Eric Clark, CEO of NPM, said:

“Hutchison Ports has an exceptional team and a proven track record of delivering value to its customers, employees and the regions in which it invests.

“We are delighted for the opportunity to partner with one of the leaders in the industry – a company which shares our vision of NPM as both a unique maritime asset in southern Iraq as well as strategic platform in the epicenter of one of the fastest growing regions in the world.”

Eversheds LLP served as legal advisor to Hutchison Ports and Latham & Watkins LLP served as legal advisor to the PFBI during the deal process.

Terms of the transaction were not disclosed.

businessnews

 

http://iraqdailyjournal.com/story-z15807178

[SnowGlobe7]

partnering with Iraq,,,,,nice

[ComPLX]

The Pritzker family is an American family engaged in entrepreneurship and philanthropy, and one of the wealthiest families in the United States of America, being near the top of Forbes magazine's "America's Richest Families" list since the magazine began listings in 1982.

The family is most well known for owning the Hyatt hotel chain, and the Marmon Group, a conglomerate of manufacturing and industrial service companies that has since been sold to Berkshire Hathaway.^[1] Other holdings have included the Superior Bank of Chicago, which collapsed in 2001, the TransUnion credit bureau, and the Royal Caribbean cruise line.

2016

Hutchison Port Holdings (HPH) becomes ‘Hutchison Ports’, with the brand line –The World’s Leading Port Network. The rebrand features a new brand identity, which rolls out across all our business units, and serves to more clearly reflect our position in the industry. This was officiated by Mr Eric Ip, Group Managing Director, at a company event which was attended by senior Hutchison Ports executives from around the world.

Hutchison Ports Sohar, Stockholm and Thailand celebrated the opening of Terminal C and inauguration of the Remote Control Crane Centre; the construction of the Stockholm Norvik Port and Norvik Logistics and Business Park; and the ground breaking of the construction of Terminal D at Laem Chabang Port in Thailand.

HPH Trust and COSCO SHIPPING Ports Limited announced that HIT, COSCO-HIT and ACT enter into an agreement for the co-management and operation of 16 berths in terminals 4, 6, 7, 8 and 9 of Hong Kong's Kwai Tsing Port. 

Hutchison Ports Yantian acquired interests in Huizhou International Container Terminals Limited in Guangdong. Following the acquisition, HPH Trust owns an effective interest of 41.3% in the terminal.

In Europe, both Hutchison Ports ECT Rotterdam and Port of Felixstowe celebrated their 50th Anniversary. 

Our Middle East terminal, Hutchison Ports Dammam, reached a productivity milestone by handling its 20 million TEU since the start of operations in 1997.

 

2015

In Mexico, we launch the Mobile PORT application, which allows customers to monitor the movement and location of containers. 


The launch of ‘Boxreload’, a ground-breaking web-based tool that helps trucking companies combine loads, cutting truck miles and emissions.


HPH starts the GO GREEN campaign, in conjunction with DP World, APM Terminals, PSA International, Shanghai International Port Group and the Port of Rotterdam Authority. The initiative promotes environmental awareness and sustainability. 


HPH Trust celebrates handling its 200 millionth TEU in Hong Kong with a ceremony attended by 350 guests including government officials, shipping line customers, industry partners and stakeholders.


Karachi International Container Terminal (KICT) celebrates handling 10 million TEUs since the start of commercial operations in 1998, becoming the first container terminal operator in Pakistan to achieve this milestone and the first container terminal in Karachi Port to handle 1 million TEU in a single year.


The first phase of a 1.4 million square feet logistics park at Port of Felixstowe (PFL) receives planning permission. The development will provide nearly 1 million square feet of warehouse storage space. 

 

2014

Barcelona Europe South Terminal (BEST) holds a ground-breaking ceremony to mark the next phase of its development.


In Australia, Sydney International Container Terminals (SICTL) is officially opened by the Hon. Michael Baird, MP, Premier of New South Wales, Minister for Infrastructure, Minister for Western Sydney.


Yantian International Container Terminals (YICT) breaks its own monthly throughput record, handling 1,212,357 TEU, an 8 per cent increase on its previous monthly throughput record from August 2012.


HPH teams up with DP World for a Waste Reduction Campaign to combat global warming, with the theme ‘Recycling Begins and Ends with You’.


The world’s largest container ship, the 19,100-TEU CSCL Globe, calls at Westports Malaysia (KMT), YICT, PFL and Euromax Terminal Rotterdam on its maiden voyage. 

[Hotcurl]

Bump to the top, for this significant economic and security related news.

 

IMHO - These guys are heavy duty players and would not be involved in Iraq unless there is BIG $$$$ to be made.

 

Semper Fi

GO RV

[fancy]

Thanks ComPLX for finding this info! These guy know where the money is, and why would they waste their time on Iraq if there was no profit to be made?????  This is big!  Agreed Hotcurl, buuuummppp!!