Marin Hili
Hili Company Ltd

Hili Company – originated in 1923; maritime industry
Mariner Ltd – investor, developer and operator of terminals
Current operations:
 SIA Baltic Container Terminal (BCT) in Riga, Latvia
 Terminal Intermodale Venezia SpA (TIV) in Venice, Italy

Valuable experience at Malta Freeport
Chairman for 15 years
(from inception in 1988)
Transhipment hub in central Mediterranean
Redevelopment of Terminal One
1989 : commenced phased redevelopment

1995: Over 500,000TEUs; North quay extension and yard expansion complete.
Development of Terminal Two
1994: $205m secured for financing
1997: Phase A of facility opened for business
1998: loan restructured and refinanced via 30-year $250m bullet bond
1999: Terminal Two complete

Identification of qualities and potentials
Successful acquisition of terminals
Management interventions and operating procedures Attractive niche terminals

General Investment Characteristics Sought
 Regional/ location perspective:
 Emerging markets (especially in its hinterland)
 Affluent supply areas
 Size and profile not dominant criteria
 Risk assessment – due diligence but not predominant decision factor
 Detailed understanding of the business
 Studies to boost terminal activity

Intrinsic Potential for Development

1. Contiguous uncommitted areas for expansion
Thorough research
 Identification of trends and ideal conditions for market growth
 Dependable relationship with PA and other major stakeholders
2. Capacity to take heavy equipment loads
 Load-bearing capacity of quay-side and land-side activities and structures

Intrinsic Potential for Development

3. Versatility of layout and physical attributes
Adaptable parameters to give terminal potential to switch from conventional operations to container handling
4. Good Transportation Accessibility
 Efficient land-based connectivity from gate to hinterland
 Rail or/and road

Acquired Experience and Feedback

1. Labour Practices
Old labour practices – opportunity to modernise
2. Human Resource Development
 On-going training on all aspects of operation
 Restructure terminal organisation and train local personnel
3. Synergies and Focus
 Company size is to our benefit

Acquired Experience and Feedback

4. Individual and Stand-Alone Capability
Each terminal treated as stand-alone business
 Sound operational practices within healthy financial scenario
 Neatness of planning and timeliness of well-thought interventions makes a successful niche investment

 2 European container terminals
 Both gateway terminals – handling import/ export cargo
 Very different

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
Chairman of BCT
Commenced operations in 1996; Mariner acquired full shareholding and managerial responsibility in 1999
 47ha container terminal
 Good rail and road links to large Russian hinterland and other CIS states

Specific characteristics:
 Very well placed for
Russian cargo
 Very good work ethic
Challenges:
 Reorganisation from Soviet times
 Gaining credibility
 Political relationship with Russia

Chairman of TIV
In 2003 TIV taken over by Mariner and Marinvest s.r.l.
(50:50); Mariner full management responsibility
Originally multipurpose; now solely containerised cargo
Located at northern most tip of Adriatic Sea

Specific characteristics:
 NE is the richest part of Italy
 Venice good catchment area (Trieste has better port mainly due to depth)
Challenges
 Old labour practices
 Great institutional power of unions
 Cumbersome PAs