Exclusive: LBN can reveal global ports operator Global Ports Holding paid £12.5m for the right to operate Liverpool’s cruise terminal and the facility has already made a ‘positive contribution’ to the company’s record £176m annual revenues. Tony McDonough reports
Global ports operator Global Ports Holding (GHP) signed a deal in spring 2024 to take over the operation of the city’s cruise terminal from Liverpool City Council for a 50-year term.
When the deal was announced GPH said it would invest £25m to upgrade the terminal, which was opened by the council in 2007. However, the value of the initial transaction was not revealed.
But in its latest annual accounts for the 12 months to March 31, 2025, posted on Companies House, GPH revealed the upfront cost of the concession was £12.5m, money that was secured from its investors and was paid to Mersey Docks and Harbour Company (owned by Peel Group)
And that deal is already paying dividends for GPH which has renamed the terminal Liverpool Cruise Port. For the accounting period the company is reporting a huge leap in both revenues and pre-tax profits and said Liverpool had made an “immediate positive contribution”.
There was a 38% jump in revenues to around £176m while the rise in pre-tax profits was even more impressive, up 269% to just under £40m. GPH reports in US dollars and LBN has converted to sterling using current exchange rates.
When the concession was announced GPH pledged to spend £25m on the existing facility, which currently supports 50 local jobs and generates around £30m for the city. This investment will increase capacity and allow for the simultaneous berthing of two 300-metre ships and up to 7,000 passengers a day.
It will also oversee the construction of a new terminal building that will provide waterfront retail and hospitality offerings for both cruise passengers and local visitors.
In 2025 GPH opened a new Liverpool base at No 12 Princes Dock in Liverpool Waters, a building that overlooks the cruise terminal. It was the company’s first UK office outside of London.
And GPH looks set to continue to benefit financially from the agreement. In early March LBN revealed Liverpool Cruise Port will see a record number of vessels and cruise calls throughout the 2026 cruise season.
118 individual vessels will call in at the terminal with a total of 135 cruise calls. There will be multiple calls from Majestic Princess which carries more than 3,500 passengers.
John Mawer, general manager UK for GPH, told LBN that GPH’s deal to take over the terminal was a “strategic move by the group, to own and operate a marquee Northern European port in a growing market”.
He added: “Liverpool is regarded as the birthplace of passenger shipping and a city where maritime is literally in our DNA. In the last two years, we have been delighted to enhance our destination offer through strong local partnerships.
“We have made operational and guest experience improvements and grown the business pipeline by over 10% year on year. At the same time, using the port as a beacon for the community, supporting local ESG projects in collaboration with our cruise line partners.
“Our positive impact extends to many supply chain operators , tourism and retail businesses who support our operations. The next chapter will see further investment into port facilities, in order to attract more ships and increase economic impact into the local region.”
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In the accounts GPH, which operates 31 ports around the world and handles 8.8m passengers a year, said: “We end this year in a position of strength.
“Our record financial performance, expanding global footprint, growing passenger volumes, deepening ESG commitments and the strength of our new ports pipeline reflect a business that is both resilient and forward looking.”