We are pleased to announce that Otter Ports, owner of Forth Ports Limited (“Forth Ports”), has acquired from DP World Limited (“DP World”) and Associated British Ports Ltd (“AB Ports”) a 67% interest in TCS. Forth Ports has been a 33% shareholder in TCS since 1988 and therefore, following the acquisition, Otter Ports controls 100% of TCS.
TCS operations are located on the River Thames within the Port of Tilbury, which is wholly owned by Forth Ports and is a key shipping and distribution location with unrivalled access to London and the South East of England. TCS currently handles approximately 320,000 containers per annum and has a significant trading position with the North / South refrigerated cargo trades, primarily from South America and South Africa, and a number of other deep sea trades. Forth also operates a short sea business from the Port of Tilbury, handling approximately 150,000 containers which provides regular links to Continental Europe and to other UK coastal feeder locations.
Forth will combine TCS deep sea business and its existing short sea operations to create a new container business branded ‘London Container Terminal’ (“LCT”), unlocking significant cost savings and synergies between the two businesses. LCT will handle close to half a million containers and will be the only UK port servicing both deep sea and short sea customers, as well as the third largest container handling site in the UK.
This information note (“Note”) has been prepared by Arcus European Investment Manager LLP (“Arcus”) for use solely for information purposes. Arcus makes no representations or warranties to the accuracy or completeness of any past, simulated or estimated performance results contain herein, and further nothing contained herein shall be relied upon as a promise by, or representation by, Arcus whether as to past or future performance results.