Belgium-based port operator Sea-Invest, through its subsidiary company Sea-Invest Poland, has acquired a majority holding in the Polnocny (North Port) dry bulk terminal in the Port of Gdansk.
Sea-Invest has key coal-handling operations in Belgium, France and North Africa (eg ABT Antwerp, Gent Coal Terminal, NorVrac, Carfos, Sea-Invest Montoir, Sea-Invest Maroc), but this is believed to be the group’s first investment in Eastern Europe. In total, Sea-Invest handles around 120 mtpa (including fruit, containers, etc as well as coal and iron ore).
In its present guise Polnocny dates from 1994 and its current lease on coal and liquid fuel handling berths from the Gdansk port authority runs until 2010.
Polnocny disclosed in May this year that it was preparing to accept an injection of new capital from Sea-Invest. The deal has raised some political/strategic concerns, however, as it places the port-based termimal of the Polish oil pipeline outside Polish control. In fact, according to one local report, an employee buyout vehicle has repurchased shares from Sea-Invest and it is not longer in the majority.
The Polnocny terminal occupies 25 hectares and has a capacity for 75 mtpa. Depth alongside is 15m, enabling it to cater for partly-loaded Capesize colliers. An investment programme of Euro 75M is planned to improve infrastructure, rail access and handling performance....
