12 September 2023 (Lloyd's List) - YILPORT aims to acquire up to three ports each year until 2030, as the Turkish group tries to break into the top 10 global box terminal operators by the end of the decade, according to chairman Robert Yüksel Yıldırım.
The privately-owned family company will need to compete with the liner giant CMA CGM, where Yıldırım owns a 24% stake.
“We are currently the 12th biggest port operator in the world as CMA CGM added new ports to claim the 11th spot.”
Yılport aims to start operations at the Ghanaian port of Takoradi in the next couple of months, after purchasing the West African terminal earlier this year, Yıldırım told Lloyd’s List.
“Our initial aim is to reach up to 2.5m teu in Takoradi with our expansion project.”
The global port operator also wants to expand its portfolio in the Americas, after failing in its bid to buy Gulfport, Mississippi.
“We’re in takeover talks with multiple brownfield and greenfield US ports. We’re also looking to buy ports in Latin America including countries such as Panama, Guatemala and Peru.”
The company had intended to buy Türkiye’s Limakport in Iskenderun before major earthquakes caused damage to the terminal in February this year.
“It’s not the right time to build a new port in Türkiye, as there is an oversupply of ports despite no major throughput growth.”
Turkish banks don’t offer lending for infrastructure investments, said Yıldırım, adding that the company is focusing on port takeovers in the country.
The company is also interested in buying African ports. Yılport is participating in a tender for the Banjul port in Gambia and is considering options in Senegal among other African countries.
Yılport’s parent company Yıldırım Holding is also planning to expand its vessel fleet with newbuild tankers and bulker acquisitions.
“We want to order eight to 16 stainless steel tankers. We will buy four or five bulkers ranging from handysize to supramax for Yıldırım Holding’s operations in Türkiye and other countries.”
The product tankers, ranging from 6,500 dwt to 13,000 dwt, will be used to maintain Yıldırım Holding’s current charter agreements with major energy companies such as Shell, Chevron and ExxonMobil.
Yıldırım Holding currently owns 22 vessels comprising of tankers and general cargoships. The company is considering dual-fuel tanker orders from Chinese or Turkish shipyards, Yıldırım said.
Yıldırım Holding has a 2050 net-zero target. “I believe Yılport will be the fastest group company to reach net-zero, as we’ve already made sizeable investments for our terminals in electrification and other measures,” Yıldırım said.
