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Marin Hili
Hili Company Ltd
Introduction
Hili Company – originated in 1923; maritime industry
Mariner Ltd – investor, developer and operator of terminals
Current operations:
 SIA Baltic Container Terminal (BCT) in Riga, Latvia
 Terminal Intermodale Venezia SpA (TIV) in Venice, Italy
Malta Freeport Terminals
Valuable experience at Malta Freeport
Chairman for 15 years
(from inception in 1988)
Transhipment hub in
central Mediterranean
Redevelopment of Terminal One
1989 : commenced phased redevelopment
Malta Freeport Terminals
1995: Over 500,000TEUs; North quay extension and yard
expansion complete.
Development of Terminal Two
1994: $205m secured for financing
1997: Phase A of facility opened
for business
1998: loan restructured and
refinanced via 30-year $250m
bullet bond
1999: Terminal Two complete
Attractive Port Investments
Identification of qualities and potentials
Successful acquisition of terminals
Management interventions and
operating procedures
Attractive niche
terminals
General Investment Characteristics Sought
 Regional/ location perspective:
 Emerging markets (especially in its hinterland)
 Affluent supply areas
 Size and profile not dominant criteria
 Risk assessment – due diligence but not predominant
decision factor
 Detailed understanding of the business
 Studies to boost terminal activity
Intrinsic Potential for Development
1. Contiguous uncommitted areas for expansion
 Thorough research
 Identification of trends and ideal conditions for market
growth
 Dependable relationship with PA and other major
stakeholders
2. Capacity to take heavy equipment loads
 Load-bearing capacity of quay-side and land-side
activities and structures
Intrinsic Potential for Development
3. Versatility of layout and physical attributes
 Adaptable parameters to give terminal potential to
switch from conventional operations to container
handling
4. Good Transportation Accessibility
 Efficient land-based connectivity from gate to hinterland
 Rail or/and road
Acquired Experience and Feedback
1. Labour Practices
 Old labour practices – opportunity to modernise
2. Human Resource Development
 On-going training on all aspects of operation
 Restructure terminal organisation and train local
personnel
3. Synergies and Focus
 Company size is to our benefit
Acquired Experience and Feedback
4. Individual and Stand-Alone Capability
 Each terminal treated as stand-alone business
 Sound operational practices within healthy financial
scenario
 Neatness of planning and timeliness of well-thought
interventions makes a successful niche investment
Current Operations
 2 European container terminals
 Both gateway terminals – handling import/ export cargo
 Very different
Baltic Container Terminal
 Chairman of BCT
 Commenced operations in 1996; Mariner acquired full
shareholding and managerial responsibility in 1999
 47ha container terminal
 Good rail and road links to
large Russian hinterland and
other CIS states
Baltic Container Terminal
Specific characteristics:
 Very well placed for
Russian cargo
 Very good work ethic
Challenges:
 Reorganisation from Soviet times
 Gaining credibility
 Political relationship with Russia
Terminal Intermodale Venezia
Chairman of TIV
In 2003 TIV taken over by Mariner and Marinvest s.r.l.
(50:50); Mariner full management responsibility
Originally multipurpose; now
solely containerised cargo
Located at northern most tip
of Adriatic Sea
Terminal Intermodale Venezia
Specific characteristics:
 NE is the richest part of Italy
 Venice good catchment area (Trieste has better port
mainly due to depth)
Challenges
 Old labour practices
 Great institutional
power of unions
 Cumbersome PAs
Thank you for your attention