Industrial shipping cranes in the port of Taranto, Italy, Puglia
ID 140002680 © Konstantinmaslak | Dreamstime.com

Following the departure of its high-profile chief executive, Christian Blauert, last month, Turkish port operator Yilport has ambitions to redevelop the “mothballed” Italian port of Taranto into a new Mediterranean transhipment hub.

Last year, Yilport signed a 49-year operating lease with Taranto port authority to operate its container terminal, which has been idle since Hutchison and Taiwanese shipping line Evergreen left in 2015 after failing to secure carrier customers.

However, this week Alphaliner reports Yilport has contracted container handling equipment manufacturer Konecranes “to move and recommission Taranto’s mothballed crane fleet”, which includes seven quay and 16 rail-mounted yard cranes expected to begin operations around the middle of the year.

Yilport founder Robert Yildirim has retaken the reins as chief executive and has drawn up a five-year plan with its chief aim of entering the top 10 list of global port operators.

“We plan to revamp the Taranto container terminal and bring annual capacity up to 1.5m teu,” he said.

Drewry’s director of ports, Neil Davidson, said the major challenge at Taranto would be convincing a shipping line to hub there.

“All the major Mediterranean transhipment hubs have the backing of major shipping lines, usually in the form of majority or minority equity stakes. We know that hubs without this have withered.

“Although Yilport has not announced backing by any major line or alliance, they will have no doubt been speaking closely with major players and perhaps received some private assurances that have enabled them to mitigate the risk of the project,” he explained.

Yilport has a similar project in the US, at Gulfport, Mississippi, where a concession with the port authority includes a commitment “to reach 600,000 teu annual throughput in two years with immediate investments”, after it takes over the terminal in the second half of this year.

However, Mr Yildirim also said the company would begin “a new phase of takeover opportunities” and would team up with institutional investors for funding.

“In addition to organic growth, Yilport will continue its second round of acquisitions, especially pursuing gateway terminals in emerging markets. We will try to acquire one or two ports a year, in line with our typical growth strategy,” he confirmed.

“In the mid-term, we plan to collaborate with infrastructure, pension and sovereign funds to make some sizeable acquisitions in Europe, North America, Latin America and Africa that offer potential growth.”

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