EVERGREEN HAS CHOSEN GIOIA TAURO TILL 2002

Evergreen decided to move his Mediterranean hub call from Cyprus to Gioia Tauro thanks to an agreement met with the Medcenter Container Terminal (MCT) of the Contship Group, which is in force till 2002.

It is still unknown the intention of the Taiwanese company to open a new terminal close to the MCT, such a project has been already denied by the top management of Contship Italia (inforMARE May 16) but put forward again by the Italian ministry of Transport, Mr Claudio Burlando, just a fortnight ago (inforMARE September 10). Such a project will ensure to Gioia Tauro about 400.000 teu per year and, upon which, a budget of 75 million dollar has been set (130 billion Lire), but that Evergreen would likely realize by integrating it with further agreements in course with the Italian Government which interest the shipping sector (acquisition of Finmare companies) as well as other transport aspects.

By choosing Gioia Tauro the Taiwanese company has, however, currently defined his network of exchanging ports which, after having frozen the project of the Indian port of Nhava Sheva, remain the ports of Gioia Tauro, Kaohsiung, Vung Tau and Panama.

A network that is needed to make the northbound and southbound connections which Evergreen has going to start at the end of 1999 (inforMARE May 31).

It is therefore an important agreement that, however, does not solve all the problems of the Calabrian port and, in particular, of the Contship group, which, so far, invested 250 billion Liras in the MCT operation.

In fact, the group, even with the consolidation and the development got from the Medcenter Container Terminal, is looking, above all, for fresh capitals.

The rapid growth of container transport, which by the end of September will go over one million teu, with an estimation of 1,400,000 units by the end of '97 (16,438 in '95, with MCT in activity from September, and 572,000 in '96), was not enough to cover investments made: in fact, the group is lamenting heavy losses and is in great need of a partner ensuring a substantial financial support.

On the occasion of the second year of activity for the MCT, it was in fact anticipated a loss, by the end of the year, of more than 6 million dollars (11 billion Liras), a figure showing a progressive improvement compared to what was reported a few months ago (inforMARE June 21), but, however worrying.

The expectation for a positive outcome from the interest shown by the Port of Singapore Authority of Singapore and from the Hutchison Whampoa of Hong Kong (inforMARE May 16 and August 1) for the capital of Contship Europe and from the possible developments given by the presence of Evergreen at Gioia Tauro is therefore rather high.

We remember, in fact, that Contship Europe, controlled by 66.5% from the Ravano group and by 33.45% from the Eurokai from Hamburg, keeps full control of the Contship Italia (100%), which, in turn, owns the whole capital of La Spezia Container Terminal of the port of La Spezia; This last owns 71.43% of the Medcenter Container Terminal (28,57% is owned by GEPI).

B.B.