Zagreb Pier Deep Sea Container Terminal Transaction

Transcription

1 Zagreb Pier Deep Sea Container Terminal Transaction International Multidisciplinary Conference on Sea, Transport and Logistics 20 November 2017, Opatija

2 Agenda Introduction to MTBS The Port: Port of Rijeka The Project: Zagreb Pier Deep Sea Container Terminal The Market: Container forecast The Transaction 2

3 MTBS: Maritime & Transport Business Solutions Specialized in Port PPP Projects. Global Portfolio, focus on EMEA Region Significant Portfolio Size - 50 Port Projects per Year - Diversified Portfolio Background Broad Client Base - Strong Home Market - International Focus 3

4 MTBS: Maritime & Transport Business Solutions Clients, Projects & Characteristics MTBS s Focus on EMEA MTBS s Clients in the Port & Infrastructure Sector MTBS s characteristics Global Leader in Port Business Advisory Long track record of closed 4P International Sector Focus 4

5 Agenda Introduction to MTBS The Port: Port of Rijeka The Project: Zagreb Pier Deep Sea Container Terminal The Market: Container forecast The Transaction 5

6 Port of Rijeka TEN-T core port serving Croatia, Hungary, Slovak Republic Rijeka, as a TEN-T core port, is the Republic of Croatia s largest international deep sea cargo port, located in the Northern Adriatic Gateway port to the Republic of Croatia and main transit port to Slovak Republic, Czech Republic, Hungary and the Republic of Serbia Primarily handles containers, dry bulk, general cargo, livestock and liquid bulk Container traffic CAGR of 9% since 2006, throughput totalling 216,000 TEU in million tons of other cargo in

7 Port of Rijeka With World Bank support, the Rijeka Gateway Project was implemented between 2003 and 2009 Through various loans, the World Bank group provided support for: Port Restructuring and Modernization Port/City Interface Redevelopment International Road Improvements Port Restructuring and Modernization component: Infrastructural improvements in the port: Including Brajdica and Zagreb Pier reconstruction Procurement of new equipment Implementation of VTMS Institutional improvements: Business plan for port operations company (Luka Rijeka) Creation of daughter companies Privatization of mother company 7

8 Port of Rijeka Port of Rijeka Authority is the authority fully mandated to engage in concession contracts Port of Rijeka Authority, founded in 1996 Managing, planning and strategic development Port of Rijeka Port operations contracted to various concession holders Most relevant concessionaires: Luka Rijeka d.d.: Activities: Operation of general cargo, dry bulk, livestock and timber terminals Major shareholders: OT Logistics, Poland (32.56%), Croatian State, Croatian pension funds Jadranska Vrata (Adriatic Gate Container Terminal) Activities: Operations of container and RoRo terminal at Brajdica pier Major shareholders: ICTSI, Philipines (51%), Luka Rijeka (49%) 8

9 Port of Rijeka The port of Rijeka is the port with the shortest sea distance to Europe and the shortest land distance to the Central European hinterland Shortest sea distance to Europe Shanghai - Rijeka 9000 nm Shanghai - Venice 9100 nm Shanghai - Rotterdam nm Shanghai - Hamburg nm Shanghai - Gdansk nm Rijeka Shortest hinterland distance Rijeka - Bratislava 558 km Venice - Bratislava 650 km Rotterdam - Bratislava 1247 km Hamburg - Bratislava 966 km Gdansk - Bratislava 900 Rijeka port is strategically located on the Maritime Leg of the One Belt One Road Initiative 9

10 Port of Rijeka Port s hinterland connections are directed towards the heart of the Central European economies Road Rail 10

11 Port of Rijeka Port of Rijeka is located on the cross-roads of TEN-T corridors: Mediterranean Corridor and Baltic-Adriatic Corridor Upgrade of Rijeka-Pivka rail is a requirement for Rijeka s connectivity to Baltic Adriatic Corridor 11

12 Agenda Introduction to MTBS The Port: Port of Rijeka The Project: Zagreb Pier Deep Sea Container Terminal The Market: Container forecast The Transaction 12

13 Zagreb Pier Deep Sea Container Terminal State-of-the-art container capable of receiving 6 th generation container vessels Phase 1 Phase 2 13

14 Zagreb Pier Deep Sea Container Terminal Terminal specifications allow for handling 400,000 TEU in phase 1, up to 600,000 TEU in phase 2 Phase 1: Opening: 2021 Quay length: 400 meters Depth alongside: CD meters Area: 15 hectares Ground slots: 1,968 TEU GS Capacity: 400,000 TEU Phase 2: Opening: t.b.d. Quay length: additional 280 meters Depth alongside: CD meters Area: additional 6 hectares Ground slots: additional 504 TEU GS Capacity: at least 200,000 TEU 14

15 Zagreb Pier Deep Sea Container Terminal Transaction Current status of construction works on ZPCT 15

16 Zagreb Pier Deep Sea Container Terminal The terminal is to be connected to the E61 motorway, through construction of the D403-bypass. A second rail terminal will be directly connected to the terminal D403 bypass: Road bypass to be directly connected to the new container terminal Possibly funded through European funds (CEF) or government budget Railway terminal: Second railway terminal in the port of Rijeka, to be constructed directly adjacent to the Zagreb Pier Deep Sea Container Terminal Šapjane, (Slovenia) Bypass track SG AD-EX Depot Claeaning area for passenger wagons T. 1 T. 2 T. 3 T. 4 T. 5 Workong area Working area Working area Working area RMG 1 RMG 2 RMG 3 RMG 4 Workng area RMG 5 Container terminal cca 400 m 16

17 Agenda Introduction to MTBS The Port: Port of Rijeka The Project: Zagreb Pier Deep Sea Container Terminal The Market: Container forecast The Transaction 17

18 Market Outlook The port of Rijeka is located on the edge of the Central European hinterland: Europe s fastest growing economy Forecasted GDP growth (IMF WEO) +3.5% % % % Rijeka 18

19 Market Outlook Zagreb Pier Deep Sea Container Terminal will be the only container terminal in the Adriatic capable of receiving vessels with capacity up to 14,000 TEU Zagreb Pier Deep Sea Container Terminal is the only container terminal project in the region that will actually be implemented before

20 Market Outlook Zagreb Pier Deep Sea Container Terminal will be the only container terminal in the Adriatic capable of receiving vessels with capacity up to 14,000 TEU Zagreb Pier Deep Sea Container Terminal is the only container terminal project in the region that will actually be implemented before 2021 Trieste: project in planning phase Koper: project in planning phase 20

21 Market Outlook Zagreb Pier Deep Sea Container Terminal will be the only container terminal in the Adriatic capable of receiving vessels with capacity up to 14,000 TEU Zagreb Pier Deep Sea Container Terminal is the only container terminal project in the region that will actually be implemented before 2021 Venice: project in planning phase Rijeka: project in implementation phase 21

22 Market Outlook Container forecast Adriatic and Rijeka European region served by current Adriatic ports will have a container demand up to 5.0 million TEU in 2030 Adriatic port capacity to be expanded to 4.5 million TEU (current projects) '000 TEU '000 TEU Zagreb Pier Deep Sea Container Terminal included 0 North Italy Switzerland Czech Rep. Slovakia Austria Hungary Serbia Slovenia Croatia Bosnia Total Capacity - NAPA Region 80% percent capacity Container forecast for port of Rijeka: - From 216,000 TEU in To 1.4 million TEU in 2030 Rijeka - Forecast - Base Rijeka - Forecast - High Rijeka - Forecast - Low Rijeka Historical 22

23 Agenda Introduction to MTBS The Port: Port of Rijeka The Project: Zagreb Pier Deep Sea Container Terminal The Market: Container forecast The Transaction 23

24 Zagreb Pier Deep Sea Container Terminal Transaction 9 month process towards signature of Concession Agreement 9 months Market Evaluation and Preparation of Competitive Bidding for the Concession of the New Zagreb Container Terminal 3 months Phase 1 Due Diligence and Market Evaluation/Road Shows 6 months Phase 2: Implementing the ZCT Bidding Process Tasks (i) ZCT concession process due (ii) Organization of the (iv) Upgrading of (v) Award and dilligence Road Show and bidding documents signature of the a. Update legal/regulatory identification of potential and conducting the Concession environment investors bidding process Agreement b. Interface Concession (iii) Analysis of possible D&B process instruments c. Update operational and (financial/legal) technical review d. Update of financial analysis 24

25 Zagreb Pier Deep Sea Container Terminal Transaction After roadshows a single step selection process will be carried out Selection Phase Negotiation & Signing Data room Initial selection criteria Transaction procedures Request for Proposal (RfP) Issue RfP Q&A sessions Initial Evaluation Proposals Internal shortlisting Selection criteria (step 2) Request for Proposal (RfP) Competitive dialogue Final concession contract Evaluation Proposals Best and Final offer (BAFO) Selection preferred candidate Final contract negotiations Contractual Close Conditions precedent Arranging Financing Handover Roadshow Selection Request for Proposal Bidders Negotiation Selection (step & Signing 2) Concession Contract Preferred Bidder Concessionaire 25

26 Agenda Introduction to MTBS The Port: Port of Rijeka The Project: Zagreb Pier Deep Sea Container Terminal The Market: Container forecast The Transaction Conclusion 26

27 Zagreb Pier Deep Sea Container Terminal Transaction Conclusion Deep water access Excellent access point to Central Europe Business potential is there Most advanced state of development: early mover advantage Realisation of hinterland infrastructure is key 27

28 Thank you Address Wijnhaven 3 e P.O. Box WG Rotterdam The Netherlands Telephone +31 (0) Info@mtbs.nl 28