Global Ports Holding Plc

Kalundborg Cruise Port lease agreement

Global Ports Holding Plc ("GPH" or "Group"), the world's largest independent cruise port operator, is pleased to announce that it has signed a 20-year lease agreement with the Port of Authority of Kalundborg to manage the cruise services in Kalundborg Port, Denmark. Kalundborg Port will be GPH's first cruise port in North Europe, marking an important milestone in the continued development and growth of the Group.

Kalundborg is located in the north western region of Denmark and is just over one hour from Copenhagen city centre. The geographic location of the port means that it can provide cruise lines with a time saving and fuel-efficient alternative to Copenhagen Cruise Port. 

Kalundborg is a cruise destination that has historically received just a handful of cruise calls per season. However, with a new 500m quay completed in 2019 and with the addition of GPH's global expertise and know-how, we expect to drive strong growth in cruise traffic at the port over the years ahead. As part of the lease agreement, subject to certain milestones, GPH will invest up to €6m by the end of 2025 into a purpose-built cruise terminal. GPH currently expects to take over cruise port operations before the end of the current financial year.