Gaining market share with a new holistic strategy for Izmir Port

Türkiye Wealth Fund (TWF), owner of the Port of Izmir, wanted to improve its future prospects. To do that, the TWF sought expert support and industry knowledge to develop a sustainable port strategy, including capacity expansion.

Project facts

Client
Türkiye Wealth Fund
Location
Turkey
Date
September 2021—February 2022
Challenge
The new port owner needed support to develop a futureproof strategy to improve port operations.
Solution
An understanding of the port’s current position, and a clear roadmap for a sustainable future.

The challenge: Moving from public operated and managed port operations to a private operator/private partnership model

After gaining ownership of the Port of Izmir – a leading port in the Aegean region – the Türkiye Wealth Fund could see that with the implementation of modernisation and expansion investments, the port held great potential for growth and development within the regional port landscape.

TWF contemplated a private partnership model to establish best-practice operational principles, implementing planned investments going forward, and improve commercial prospects of the Port.

The solution: Expert maritime consultancy to develop a future-ready approach

In 2021, the TWF employed Royal HaskoningDHV as its sole consultant on the project.

We carried out an extensive regional market study to ascertain the port's current position and determine strategic options for the future.

During this process we also looked at expected market developments over the next 30 years, how demand for different commodities would change, and how the region would evolve compared to other areas in Turkey. This provided an up-to-date market overview that was a key stepping stone for the development of a future-proof strategy for the port.

We then undertook an operations and infrastructure review to see if the port was on par with industry standards and establish options to create more sustainable operations and infrastructure. Our findings included potential equipment setup improvements, infrastructure upgrades, and capacity expansion plans that will serve the port for decades and in line with market expectations.

The ageing infrastructure and current water depths at the entrance to the port were holding it back. So, we proposed a variety of improvements alongside a commercial strategy that might help regain market share and enhance further expansion.

It was great to be able to help a new port owner assess the industry, develop market strategies, and take the first step towards creating a sustainable port for the future.

Jolke HelbingDirector, Royal HaskoningDHV

The result: A clear path towards a sustainable port

With the reported findings and developed strategy the TWF has a clear roadmap to commence the transformation of the Port of Izmir – and is already beginning to implement that strategy.

Upon completion of the transformation, commercial and operational standards will have improved, sustainability ingrained, and a port complex created for future success.