Umea and Vaasa - Another Port Merger in the Baltic

By Joseph R. Fonseca
Thursday, July 03, 2014
Courtesy Baltic Port Organization

 

The owners of the respective harbours, municipalities of Umeå and Vaasa, have agreed to set up a joint company, Kvarkenhamnar AB.

The new entity with head office in Umeå will take over port management from the Swedish and Finnish local governments as from the 1st of January, 2015. Kvarkenhamnar AB will be owned 50/50 by the founders who will contribute with ca. EUR 1.65 mln each to the share capital.

The ports' current staff will be employed in the new company. Kvarkenhamnar's board of directors will be equally split between Umeå and Vaasa. In the case when the board's president will come from Sweden, the company's CEO will be from Finland, and vice versa. The new entity will focus on port authority functions and complementary services such as warehousing and passenger services since the Wasaline ferry company, offering a ro-pax route between the two ports, has been also established by the municipalities.

One port authority makes it possible for smaller harbours to achieve economies of scales, streamline administrative works, coordinate marketing and development activities, more effectively work together concerning environmental issues as well as specialize each port to cut unnecessary double investments in order to increase both ports' competitiveness.

The port merger trend in the Baltic Sea region is quite strong, the last year's event of Halmstad and Varberg becoming one Port of Halland is the latest example, apart from other similar undertakings in the past such as Ports of Stockholm, Copenhagen Malmö Port, HaminaKotka, Mälarhamnar or ports around the Lake Vänern.
 

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Diesel Spill in Houston Ship Channel

A small section of the Upper Houston Ship Channel was closed Tuesday morning after a report of 1,000 gallons of diesel entered Greens Bayou from a cement facility, the U.

New Load Measurement Solution for Port of Dampier

Strainstall designs and delivers a load measurement solution for the world’s largest floating wharf at Port of Dampier.   Strainstall, part of James Fisher and Sons plc,

Work Begins on $1.6 bln Container Terminal at Jebel Ali Port

DP World Chairman Sultan Ahmed Bin Sulayem announced the start of construction work on a brand new container terminal at Jebel Ali Port, Dubai.   Phase 1 of the

News

Idreco Delivers Dredger for Hydro-Dam in Congo

Idreco (International Dredger Constructions) of the Netherlands informs it has designed, built and installed its second dredger, an ISD 600 with a digging depth of 30 meters,

BAE Systems Awards Software Contract to SENER

The Spanish company SENER, Ingeniería y Sistemas S.A has closed a contract with U.K.-based BAE Systems PLC for the integration between FORAN CAD/CAM System and

Hawboldt Secures Cape Sharp Tidal Winch Deal

A third Nova Scotian company has secured a multimillion dollar contract with the Cape Sharp Tidal project, which has potential to be the first grid-connected tidal array in the world.

Mergers & Acquisitions

Scorpio Tankers to Acquire Product Tanker

Scorpio Tankers Inc. announced today that it has entered into an agreement to purchase an MR product tanker. The Company reached an agreement with an unrelated

Navig8 Amessi joins the Delta8 Pool

Navig8 Chemicals is pleased to announce the delivery of Navig8 Amessi, the eleventh of eighteen ECO 37,000dwt chemical tankers constructed at Korea's Hyundai Mipo Dockyard ("HMD").

Continental Delivered to Dorian LPG

Dorian LPG Ltd. an owner and operator of modern Very Large Gas Carriers (VLGC), reported today that it took delivery of the ECO VLGC Continental from Hyundai Samho Heavy Industries.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1434 sec (7 req/sec)