Business, Freight News, Logistics, Sea

Forth Ports buys out Tilbury partners

[ January 26, 2012   //   Chris ]

Forth Ports owner Otter Ports Holdings has acquired from DP World and Associated British Ports the 67% ownership of Tilbury Container Services (TCS) not already owned by Forth Ports in a cash transaction. Forth Ports has been a one third shareholder in TCS since 1998

Forth Ports chief executive Charles Hammond, commented: “With 100% ownership of TCS we plan to combine our existing Short Sea container terminal with TCS to create a new container business branded ‘London Container Terminal’. The combined terminal will handle close to half a million containers and makes us the third largest single container operation in the UK and one of the few UK ports servicing both deep sea and short sea customers. This acquisition further underlines Tilbury’s role as a distribution and transhipment hub for London.”