28 September - 4 October 2000

Further interest in Freeport privatisation

Foreign interest in the privatisation of Malta Freeport is on the increase with more international operators declaring their interest in the running of the Marsaxlokk terminals, shipping sources have said.

Among the names being mentioned are Eurogate and the Seattle-based Stevedoring Services of America. Discussions on the upcoming privatisation have already taken place with several companies such as Hutchinson, Port Singapore Authority and P&O Ports.

The spread of privatisation around the world's waterfronts is creating more opportunities for select groups of global port operators to boost their portfolios. Malta's freeport is seen as an ideal centre in the middle of the Mediterranean for many international operators to spread their wings even further. The competition between operators such as Hong Kong's Hutchinson Port Holdings - which controls an estimated 10 per cent of the world container throughput - and Britain's P&O Ports and Singapore's PSA Corp., will be reflected in the upcoming sale of Malta's Marsaxlokk, the sources said.