Sarno speaks out on MSC's SA terminal plans

With Mediterranean Shipping Company (MSC) having just added considerable muscle to its terminal investment division – placing Africa in its sights as an area in which to acquire port container terminals – South Africa is not yet on the list, according to Rosario Sarno, director of MSC in Durban. MSC recently reached an agreement with Global Infrastructure Partners (GIP) – a multinational private equity firm which specialises in infrastructure investments in the energy, transport and water/waste sectors – to sell 35% of its subsidiary, Terminal Investment Limited (TIL). TIL has, or is in the process of, acquiring, controlling or jointcontrolling interests in 30 container terminals globally, serving most of the world’s major trade routes and located in Africa, North and South America, Europe, the Middle East and Asia. TIL has grown rapidly over the past decade and is now the world’s sixth largest container terminal operator. The new strategic partnership between MSC and GIP will provide a strong foundation to support the next phase of TIL’s growth, which will include further acquisitions and investments, said an MSC statement. But, despite this acquisitive mood, there is not yet any opportunity in SA for the terminal operation to become involved in controlling port container terminals, Sarno told FTW. “There haven’t been any approaches or discussions on terminal privatisation, except perhaps at Durban’s new digout port,” he said. But even this possible privatisation opportunity is not yet cast in stone, Sarno added, noting that similar words had been spoken about privatisation at the deep-water port of Ngqura – but that the actual result had been an extension of the terminal lease held by Transnet Port Terminals (TPT). “However,” said Sarno, “if we were approached, we would consider it.” CAPTION The Port of Ngqura ... privatisation opportunities came to nothing.