By
Laura Hyde |
Global Ports Holding (GPH) manages 33 ports in 21 countries and over 900 employees, making it the world’s largest cruise port operator. The company, which was founded in 2004, is firmly focused on expansion and future-proofing its ports.
“Cruise ports across the world require substantial investment due to the increasing number and size of cruise ships over the next decade, and beyond,” says Jan Fomferra, chief financial officer of GPH. “Cruise ships need adequate berthing options, but the investments into the cruise port infrastructure are lagging behind the speed at which the global cruise fleet is expanding. GPH stepped in to help bridge this gap and over the past decade has raised more than $1.5 billion in debt and equity capital, funding acquisitions, infrastructure improvements and modernisation efforts.”
Cruise Lines International Association is predicting cruise passenger numbers will hit 40 million by 2027, and further significant investments are essential for ports looking to maintain their appeal to cruise lines and passengers.
“Private capital plays a crucial role and fills a gap to realise cruise port developments, which ultimately benefit all stakeholders; the cruise ports can realise the necessary upgrades to participate in the industry’s growth and, in turn, bring the substantial economic benefit that comes with the cruise business to their destination,” says Fomferra. “Examples of this include the transformational $300-plus million investment into Nassau Cruise Port in The Bahamas, which includes an upland development enhancing the destination’s appeal and allows economic participation by local businesses. Another example is the project at San Juan Cruise Port (pictured) in Puerto Rico successfully raising public and private placement bonds totalling $187 million, which will fund GPH’s initial investment commitment of more than $200 million.”
“Private capital plays a crucial role and fills a gap to realise cruise port developments,” says Jan Fomferra, chief financial officer of Global Ports Holding
GPH’s investments are not just focused on larger projects; it has also successfully raised financing for multiple smaller projects at its ports around the globe. These include a new cruise terminal and day club at Antigua Cruise Port and the construction of a new terminal at Las Palmas Cruise Port in the Canary Islands. GPH is also looking at further expansion at Nassau Cruise Port.
“The projects are designed to expand capacity, improve passenger experiences and integrate sustainability initiatives, ensuring long-term operational resilience,” says Fomferra. “GPH’s commitment to ensure its ports are future-ready is not just about expansion, it’s also about creating the basis for the long-term and sustainable success of the cruise industry to the benefit of all stakeholders and our partners in the destinations we operate in.”
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