Privatization of the port activities - Vecon Spa

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The containerized traffic appears for the first time at Venice in the end of 60’s, with conventional or adapted ships. The awareness of this new upcoming transport method was growing in Mediterranean sea ( the first containers in Usa are of 1959 ) and this induced the Port Superintendency, who used to manage the operations of the commercial port, to equip in the early 70 's a dedicated quay and create a specialized terminal.

The idea to establish a private company to manage the container terminal took place in a general context of progressive denationalization of economic activities formerly managed by the State or by Public Authorities. From the 80’s the privatization of the port activities affected the main historical ports in Italy.

In 1987, the late Venice Port Superintendent , Dr. Alessandro Di Ciò, decided to establish a joint-stock company with the aim of managing the container terminal as a private port enterprise in long-term concession .On 18th December 1987 Vecon spa was established. The Port Superintendency kept the control stake of 50.5%, while the 36% was entrusted to a private company with worldwide experience in management of container terminals, and the difference went to other private subjects.

In 1997, to comply with the mentioned law 84/1994, the newly established Port Authority, called for an international tender for the sale of its control share. The tender, competed by international port operators such as Hutchinson Port Holdings, Ceres, Malta Freeport, Contship Italia and others, was won by Sinport Spa, a subsidiary of Fiat Group established to speed up the completion of logistic infrastructures in Italy in order to improve the transport competitiveness. Sinport had already the full control of Genoa Voltri Terminal.

Meanwhile in 1988, as other foreign companies were hunting for new business in italian port activities, PSA of Singapore took over the control share of Sinport, thus becoming the majority stockhholder of the main container terminals of both Adriatic and Tyrrhenian sea