Different types of port ownership and administrative regimes Essay

Different types of port ownership and administrative regimes - Essay Example (CMAISB†¦ 1999, p. 7) These facts underscore the importance of the port ownership in an overall national interest of a state. This paper will outline and explore the various types of port ownership and administrative regimes. Specifically, this will examine four regimes, namely; state, autonomous, private and municipal port administrations. With this objective, a better understanding of various port management structures will be achieved as both the advantages and disadvantages of the four regimes will also be outlined. Company-owned: these ports are subject to the full freedoms and discipline of the commercial marketplace. They are free to seek commercial funding for investment, on commercial terms, borrowing on their assets. They are obliged to account for their performance. They are expected to generate dividends and to increase shareholder value over time. To the extent that they generate retained profits, they have wide discretion over how to invest them. (p. 27) Trust Ports: Trust ports are independent statutory bodies. They have independent boards and trustees charged with acting in the interests of al stakeholders. Any surpluses are ploughed back into improving facilities. (p. 27) Municipal ports: These are ports that are municipally owned. Local authorities operate these facilities for the benefit of the local community, town or city. The function of these ports may be commercial in nature. Company-owned ports can be considered as private ports along with the privatised ones. The main feature that distinguishes these facilities from state or municipal ports regimes is the freedom accorded in their operations. To a certain degree, autonomous ports resemble these private port administrations except that they may differ in the stakeholders involved. For example, autonomous ports may be owned by the government but that they could either be operated commercially or run privately. The port of Holyhead in