The ownership and management structure of container terminal concessions

Sheila Farrell

Maritime Policy & Management, 2011, vol. 39, issue 1, 7-26

Abstract: It is now over 25 years since the widespread concessioning of container terminals began. This article examines the impact of concessioning on the balance between public and private sector control, the use of competitive tendering to assign concessions, the structure of the Special Purpose Vehicles (SPVs) to which concessions were originally awarded, and the way in which the ownership of these SPVs has changed over time through merger and acquisition activity. The research covers maritime container terminals worldwide and is largely based on published information about container terminal concessions. Although the data are not comprehensive and contain some inaccuracies, the large number of terminals allows several clear trends in concession ownership to be identified. The paper examines geographical differences in concessioning processes, the growth of competitive tendering, the reasons for multi-company ownership of many terminal concessions, the dominant role of shipping lines and global terminal operators, and the sale and purchase of stakes in terminal concessions after they have been awarded.

Date: 2011
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DOI: 10.1080/03088839.2011.642317

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