Sweden: Port of Helsingborg, Copenhagen Malmo Port Sign LOI

Sweden - Port of Helsingborg, Copenhagen Malmo Port Sign LOI

On Thursday Helsingborgs Hamn AB (HHAB), the company behind Port of Helsingborg, and Copenhagen Malmö Port AB (CMP AB) signed a letter of intent to investigate the scope for creating a joint port authority.

The boards at both companies have approved a decision to look into the possibility of enhanced cooperation between these two port operators. The objective is to create a strong new port operation for the Øresund region, providing a broader range of services and thus an improved customer offering.

“We can confirm that the commercial conditions for a joint port authority are excellent at present. The predominant focus right now is on increasing revenue and reducing operating and investment costs, while also strengthening our competitive position in the Baltic region,” says Jo Kristian Okstad, CEO of HHAB.

Increasing trade with countries in the Baltic region, increasingly fierce competition from other ports and other modes of transport, limited scope for expansion along the coast, and ever more stringent environmental requirements within the transport industry are just some of the factors that have prompted the letter of intent.

“The two port operations complement one another very well. By focusing on our existing areas of expertise, we can increase efficiency and improve our customer offering. Enhanced cooperation would also enable us to avoid duplicate investments,” says Johan Röstin, CEO of CMP AB.

Source: Port of Helsingborg, June 1, 2012