Terminal concessions in seaports revisited

摘要

In many countries around the world, governments and public port authorities have retreated from port operations in the belief that enterprise-based port services and operations would allow for greater flexibility and efficiency in the market (through more competition) and a better response to consumers' demands. In this new environment, the awarding of port terminals to private operators has become a common practice. This can take different forms ranging from management contracts/leases to BOT arrangements, with each type having specific modalities with regard to the spread of investments and of risks. In particular, concession policy has become a powerful governance tool for port managers. Compared with the sale of assets to private operators, concession policy allows port authorities to retain some control on the organisation and structure of the supply side of the port market.