MEDIA

18 Dec 2019

Signs 15-year management service agreement for Ha Long International Cruise Port, Vietnam

Global Ports Holding Plc ("GPH" or "Group"), the world's largest independent cruise port operator, is pleased to announce that it has signed a 15-year management service agreement with Ha Long Sun Limited Liability Company for the Ha Long International Cruise Port ("Port") located in Ha Long Bay, Vietnam.

The Port, having recently benefitted from a $44m investment, is the first purpose-built cruise port in Vietnam and is capable of handling the world's largest cruise ships. In 2019 the Port is expected to welcome over 75,000 passengers and it is forecasted to grow to over 100,000 passengers in 2020.

Situated within the Sun World Halong Complex, a 226ha entertainment and recreation complex, the Port's modern infrastructure and geographic position close to China, Hong Kong, Indonesia, Malaysia and Singapore means it is well placed to become a leading transit port in Asia. Furthermore, the Port is less than 200km away from three international airports, Noi Bai International Airport, Van Don International Airport and Cat Bi International Airport, and with Ha Long Bay benefitting from modern hotel infrastructure, the Port has the potential to become a home port for the region.

The Ha Long International Cruise Port is the second port in GPH's portfolio in Asia, a region that has seen high growth in cruise passengers in recent years and has started to attract local and regional investment into cruise port-related assets.

Global Ports Holding, CEO Emre Sayin said:

"I am delighted that GPH has signed a management service agreement for the Ha Long International Cruise Port. This agreement marks a truly historic moment for Global Ports Holding and marks an important inflection point in our growth aspirations in Asia.

The GPH team very much look forward to working with our partner, the cruise lines and the people of the Quang Ninh Province to turn this iconic location into a leading cruise port in the region"