DP World, ABP sell stake in Tilbury Container Services to Forth Ports

Global port operator DP World has exited UK's Tilbury Container Services Ltd after Forth Ports acquired the 67 per cent share it did not own in Tilbury Container Services Ltd from DP World and Associated British Ports (ABP).

Forth Ports, which is owned by Otter Ports Holdings Ltd, has been a one-third shareholder in Tilbury Container Services since 1998 along with partners DP World and ABP. The terminal is located on the River Thames within the Port of Tilbury, which is wholly-owned by Forth Ports.

The Tilbury container terminal currently handles approximately 320,000 container boxes per annum and has a significant trading position with the north / south reefer (refrigerated container) trades, primarily South America and South Africa with a strong presence in other deep sea trades. 

The Port of Tilbury also runs a short sea business, which provides regular links to Continental Europe and to other UK coastal feeder locations.

 ''This is an important acquisition and a major step forward in our plans to grow and develop our ports business. We believe that stronger links between our container and distribution customers will provide benefits in the supply chain through our London distribution park and further underpins our port-centric strategy. 

With 100-per cent ownership of Tilbury Container Services we plan to combine our existing short sea container terminal at Tilbury with TCS and create a brand new container business which will handle close to half a million containers,'' Charles Hammond, chief executive of Forth Ports, said.