New Dragados SPL set up

Confirming ever louder market rumours fuelled by well informed press reports in Spain (WorldCargo News Online, 6 June 2017), JP Morgan and co-investors have said that a 51% stake in Noatum Ports has been sold to Cosco Shipping Ports Ltd (CSP).

Turkey’s Yildirim Group is to sell a minority stake in Yilport Holding, its port operations and logistics group, and has appointed the investment bank JP Morgan as its financial adviser for the process.

JP Morgan has reduced its stake in Novorossiysk Commercial Seaport group (NMTP) from 18.41% to 8.249%. The buyer and the price have not been disclosed. Last October, Transneft, which had, on a 50-50 basis with Summa group, co-held a 50.1% stake in NMTP, bought a comparable stake (10.5%) in the port operator for about US$240M.

North Queensland’s Port of Townsville has called for expressions of interest in the redevelopment and operation of the port’s main multi-purpose facility, Berth 4.

Gammon Infrastructure Projects Ltd (GIPL) says the opening of its offshore container terminal at India’s Mumbai port has been put back to the end of next year.

Noatum (ex-Dragados SPL), the leading Spanish container terminal operator now owned by JP Morgan and Stichting, has appointed fomer Hutchison Port Terminals’ CEO Chris Gray as executive chairman, to work alongside CEO Douglas Schultz.