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Investments in Container Terminals: Public Private Partnerships in Europe

Author

Listed:
  • Bart W Wiegmans

    (KPMG Bureau voor Economische Argumentatie, Hoofddorp, The Netherlands.)

  • Barry Ubbels

    (Department of Spatial Economics, Free University, Amsterdam, The Netherlands)

  • Piet Rietveld

    (Department of Spatial Economics, Free University, Amsterdam, The Netherlands)

  • Peter Nijkamp

    (Department of Spatial Economics, Free University, Amsterdam, The Netherlands)

Abstract

The desire to create a more competitive, market based transport system has led to the involvement of the private sector in infrastructure investments. However, there are still distinct aspects that often make investment in transport infrastructure unattractive to private parties. This paper elucidates the characteristics of investments in infrastructure in general, with the aim to clarify the hesitation of private investors. One specific category of infrastructure investments, viz. container terminals, is discussed here as an interesting case. European container terminals are mostly financed with a strong involvement of private parties. From a comparative study between investments in container terminals and other investments in infrastructure, we argue that the terminal market has several features (such as imperfect competition), which lead to a lower risk for private parties. Because of these characteristics, public-private partnerships occur rather often and seem to be attractive. A situation of a fully competitive terminal market without government intervention is in the long-run possible and clearly more realistic than in other infrastructure markets. It should be realised however, that a common European policy is required to avoid distortion of competition among ports due to different subsidy regimes.International Journal of Maritime Economics (2002) 4, 1–20 doi: 10.1057/palgrave.ijme.9100029

Suggested Citation

  • Bart W Wiegmans & Barry Ubbels & Piet Rietveld & Peter Nijkamp, 2002. "Investments in Container Terminals: Public Private Partnerships in Europe," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 4(1), pages 1-20, March.
    • Handle: RePEc:pal:marecl:v:4:y:2002:i:1:p:1-20
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    Citations

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    Cited by:

    1. Musso, Enrico & Ferrari, Claudio & Benacchio, Marco, 2006. "Port Investment: Profitability, Economic Impact and Financing," Research in Transportation Economics, Elsevier, vol. 16(1), pages 171-218, January.
    2. Yang, Dong & Li, Lu & Notteboom, Theo, 2022. "Chinese investment in overseas container terminals: The role of investor attributes in achieving a higher port competitiveness," Transport Policy, Elsevier, vol. 118(C), pages 112-122.
    3. Roy, D. & Gupta, A. & Parhi, S. & de Koster, M.B.M., 2014. "Optimal Stack Layout in a Sea Container Terminal with Automated Lifting Vehicles," ERIM Report Series Research in Management ERS-2014-012-LIS, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    4. Parola, Francesco & Notteboom, Theo & Satta, Giovanni & Rodrigue, Jean-Paul, 2013. "Analysis of factors underlying foreign entry strategies of terminal operators in container ports," Journal of Transport Geography, Elsevier, vol. 33(C), pages 72-84.
    5. Francesca Medda & Qianwen Liu, 2013. "Determinants and strategies for the development of container terminals," Journal of Productivity Analysis, Springer, vol. 40(1), pages 83-98, August.
    6. Francesco Parola & Giovanni Satta & Simone Caschili, 2014. "Unveiling co-operative networks and 'hidden families' in the container port industry," Maritime Policy & Management, Taylor & Francis Journals, vol. 41(4), pages 384-404, July.
    7. Roy, D. & de Koster, M.B.M., 2014. "Modeling and Design of Container Terminal Operations," ERIM Report Series Research in Management ERS-2014-008-LIS, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    8. Debjit Roy & René De Koster & René Bekker, 2020. "Modeling and Design of Container Terminal Operations," Operations Research, INFORMS, vol. 68(3), pages 686-715, May.
    9. Feng, Hongxiang & Grifoll, Manel & Yang, Zhongzhen & Zheng, Pengjun, 2021. "Latest challenges to ports in public-private partnership: Case of Dandong Port (China)'s bankruptcy," Transport Policy, Elsevier, vol. 110(C), pages 293-305.
    10. Sergi Saurí & Francesc Robusté, 2012. "Promoting Incentives: Performance Improvement in Container Port Terminals," Transportation Science, INFORMS, vol. 46(2), pages 233-246, May.
    11. Xiao, Zengqi & Lam, Jasmine Siu Lee, 2020. "The impact of institutional conditions on willingness to take contractual risk in port public-private partnerships of developing countries," Transportation Research Part A: Policy and Practice, Elsevier, vol. 133(C), pages 12-26.
    12. Panayides, Photis M. & Parola, Francesco & Lam, Jasmine Siu Lee, 2015. "The effect of institutional factors on public–private partnership success in ports," Transportation Research Part A: Policy and Practice, Elsevier, vol. 71(C), pages 110-127.
    13. Gharehgozli, A.H. & Roy, D. & de Koster, M.B.M., 2014. "Sea Container Terminals," ERIM Report Series Research in Management ERS-2014-009-LIS, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.

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