Global Ports Holding sees 46% rise in...

Total rose year-on-year to a record 13.4 million

The world’s largest cruise port operator, Global Ports Holding, has reported a 46% surge in passenger numbers for the year up to 31 March 2024.

The total annual passenger numbers recorded at Global Ports Holding rose year-on-year to a record 13.4 million due to the addition of new ports and the sector’s continued growth.

The group, which runs ports including Nassau in the Bahamas and Barcelona in Spain, forecast handling more than 16 million passengers in the current financial year.

Breaking down the annual results showed a 34% rise to 5.8 million passengers for the group’s ports in the Americas and a 54% rise in the western Mediterranean and Atlantic region to 4.5 million, as well as increases in other regions.

Co-founder and chief executive Mehmet Kutman said: “The 2024 reporting period was one of significant achievement for Global Ports Holding. We successfully expanded our cruise port network, completed our largest-ever investment project, and increased our shareholding at a number of key ports. In addition, we strengthened our balance sheet through a successful investment-grade-rated issuance of secured private placement notes and extended the concession length at a number of ports.

“We have started the 2024 cruise season strongly and we are well positioned to be a key enabler and beneficiary of the cruise industry’s continued growth and success in the years ahead.”

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