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MSC bids for Global Ports Holding

Cash-rich Mediterranean Shipping Company (MSC) has made a bid to take over London-listed Global Ports Holding, the world’s largest cruise port operator.

Global Ports, owned by Turkish businessman Mehmet Kutman, said the talks were ongoing and the deadline for MSC to make a firm offer or walk away is July 13.

As well as widespread cruise portfolio, Global Ports operates a couple of commercial ports including Montenegro’s largest port. 

MSC, privately held by the Aponte family, runs the world’s largest containerline as well as the third largest cruise line in the world.

During container shipping’s record earnings period through the pandemic, MSC has been hunting acquisition targets, agreeing recently to buy Bollore’s African transport and logistics business for $6bn, taking a stake in Italian ferry operator Moby in March while earlier in the year it lodged a joint bid with Lufthansa to take over ITA, the successor to Alitalia. It has also moved to take a majority stake in Brazilian regional container shipping operator Log-In Logistica.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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