New chairman for Malta Freeport

Government yesterday announced it has appointed Mark Portelli as the new chairman of Malta Freeport.

He replaces Marin Hili, who has led the freeport since its inception 15 years back.

The government said that Mr Portelli, who will be given his appointment tomorrow, has served as a director of the freeport for the past two years.

Mr Portelli, who has a degree in economics from Manchester University, is a member of the UK Institute of Chartered Accountants. He is a director of Virtù Ferries Ltd and managing director of Peninsula Investments Ltd, the company which manages the Westin Dragonara.

He had worked with the Norwegian Group Ulstein to establish a sea route between Germany and Denmark.

In a statement, the Ministry of Economic Services thanked Mr Hili for the useful work he had done at the Freeport over the past 15 years.

Mr Hili had long been insisting with the Prime Minister and the government that he ought to be replaced because of personal commitments.

Mr Hili's company recently acquired a significant shareholding in the Venice port, following which the Labour Party called for his resignation since it insisted that this acquisition was incompatible with his chairmanship of the Freeport.

Last month the Prime Minister said in an interview that Mr Hili has been wanting to leave his post for years.

"He is only there because we have asked him to stay. The day is approaching when we will have to say to Mr Hili 'Yes... OK, we will let you go'," Dr Fenech Adami had said.

Meanwhile, industry sources said that the Malta Freeport has just managed to add an international shipping giant to its list of clients.

The sources said that the freeport has just reached a deal with Maersk Sealand to start using the port at Marsaxlokk.

The sources said that Maersk is expected to generate over 180,000 containers every year at the freeport.

The new client is expected to start using the Maltese port over the coming days. Maersk Sealand is one of the largest liner shipping companies in the world, serving customers all over the globe.

It uses the port of Gioia Tauro in Italy as its main port in the region but it has now taken a decision to shift a substantial part of its operations to Malta.

More than 250 container vessels and 800,000 containers ensure a reliable and comprehensive worldwide coverage through Maersk. Maersk Sealand is a trading name of the A.P. Moller Group.

Last year, the Malta Freeport handled a record 1,165,070 TEUs (containers), an increase of 12.8 per cent over the previous year. Malta Freeport currently has regular links with over 90 ports worldwide.

Malta Freeport Terminals Ltd made an operating profit before depreciation of $8.5 million and a net profit of $4.5 million in the period between March and December last year, Malta Freeport's financial statements show.