Forth Ports takes over London site

Forth Ports has taken full ownership of a container terminal in London, it announced yesterday. The firm bought up the remainder of Tilbury Container Services, which is on the River Thames about 30 miles from central London, from the other co-owners. The centre handled 314,000 containers last year. DP World said it sold its 34 per cent stake to Forth for £48.45m, while Associated British Ports offloaded its 32.7 per cent holding for £46.55m, the firms said in a statement. Charles Hammond, chief executive of Forth Ports, said the deal is “a major step forward in our plans to grow and develop our ports business”. He said the firm plans to combine its existing Short Sea terminal with Tilbury to create one of the UK’s biggest container operations.