ABSTRACT
The United Kingdom is one of the few countries in the world, where port privatization has been asset privatization – a sale of port assets, including port land, to the private sector. The concession contract often specifies port performance criteria and financial standards to be met by the private entity in managing the port. The amount of investment required to be a private terminal operator in a port public–private partnership has increased over time and therefore may be a barrier for entry into the port public–private partnership market. United States general cargo ports have evolved over time from private railroad ports to local and state government-owned ports, managed by port authorities. P. Verhoeven and T. Vanoutrive in their analysis of 2010 survey data of European ports found port governance diversity among European ports with European port authorities being conservators, facilitators or entrepreneurs.
