DCT Gdańsk container terminal to build 3rd quay

Photo courtesy of DCT Gdańśk
Photo courtesy of DCT Gdańśk
A 3rd deep water quay is to be added to the Port of Gdańsk in an EUR 450 mln investment, adding an extra ⅓ of TEU capacity when operational in mid-2024.

The following news items appeared in PT Weekly, Poland Today’s weekly business newsletter, on Friday 30 July – free to register here

DCT Gdańsk to construct 3rd deep-water quay and increase capacity by 1.5 mln TEUs

Deepwater Container Terminal Gdańsk (DCT Gdańsk), the largest container terminal on the Baltic Sea, has signed an agreement with the Port of Gdańsk Authority to create a new port area within the boundaries of the port in Gdańsk Bay. Since the start of its operations in 2007, two deep-water quays (T1 and T2 – launched in 2007 and 2016 respectively) have been built with a total capacity of 3 million Twenty-Foot Equivalent Units (TEUs). According to a statement by DCT Gdansk, with the construction of the EUR 450 mln new terminal, known as “Baltic Hub 3”, the third deep-water quay will increase handling capacity of DCT Gdańsk by 1.5 million TEUs, to 4.5 million TEUs. The quay will be 717-metre-long with a depth of 18 m and 36 hectares of yard will be built. Construction is planned to start in Q2 2022 and operations are planned to start by mid-2024

“The construction of the third quay of our Baltic Hub Terminal marks the opening of a new era in container handling on the Baltic Sea,” said Charles Baker, CEO of DCT Gdańsk. “Poland can continue to compete with western European ports such as Hamburg and Rotterdam. Adding a third quay will allow the terminal to serve not only the Polish market, but also the entire Baltic region and Poland’s land-locked neighbours. Historically, when we talked about major ports in the North Range, it was always Hamburg – Le Havre Range. DCT Gdańsk, growing rapidly, has extended that range to Gdańsk, Poland, and the Baltic.”

According to Zsolt Katona, Danish integrated shipping company Maersk’s managing director for East Europe, Gdańsk is an important part of Maersk’s network: “In January 2010, Maersk and DCT started the revolutionary direct service connecting the Far East and Gdańsk. Since then, we have witnessed the strong growth of the terminal, and today DCT has become Maersk’s partner in creating E2E solutions for customers. With BH3, we are very happy to see DCT continuing to invest in future capabilities and actively addressing the supplier chain bottlenecks.”

DCT Gdańsk is owned by Singapore-based global port operator PSA International (40%), the Polish Development Fund (PFR, 30%) and IFM Global Infrastructure Fund advised by IFM Investors (30%). It handles over 600 vessels per year, including 100 calls of the world’s largest container ships.

 

Poland records most venture capital transactions in CEE in Q2 2021

There were 118 venture capital transactions in Poland’s startup scene in Q2 2021 – the most in the CEE region, according to the latest report ‘VC funding in CEE – Q2 2021’ published by Vestbee, the online platform for startups, VC funds, accelerators and corporations in the CEE region. The number of venture capital investments in the region amounted to over 190, and the sum of total financing exceeded EUR 900 million, said the report. In terms of the number of transactions, the most active country after Poland was Estonia with 21 investments, and the most popular industries are Ecommerce, Fintech, Analyzes, Cyber Security, Automotive, AI, Big Data, and Media. Here are some more key points from the report:

  • Number of funding rounds: 194
  • The biggest disclosed investment round: Vinted – Series F – €250M, Rohlik – Series C – €100M, Uncapped – Series B – €66M,  Productboard – Series C – €60.5M, Veriff – Series B – €58M.
  • The most active VC fund: Fil Rouge Capital, Smok Ventures, Next Road Ventures, Knowledge Hub, Accel, Early Game Ventures, Lighthouse Ventures.

The report includes the disclosed VC rounds that have been made public before the end of the 2Q 2021 or provided by the VC & startup community. It does not include grants and transactions below EUR 50k. “Additionally, although we’re always happy to see startups operating in CEE, we have decided to focus only on companies that originate from CEE, self-identify as CEE companies or there is a significant presence of the CEE founder” Vestbee said.” Please also be informed that the report is focused on the standard understanding of the CEE region (e.g. Turkey is not included).”

 

The Polish Deal new tax changes to hit hard at small and medium companies critics say

The new tax changes proposed by the ministry of finance are meant to help a large group of taxpayers, however entrepreneurs are worried it may affect them adversely. According to Tadeusz Kościński, the minister of finance, the proposed changes will put more money into the pockets of 18 million taxpayers while ⅔ of retirees will stop paying taxes entirely.

However, in business media website money.pl and economic daily Rzeczpospolita, tax advisor Przemysław Pruszyński from NGO Lewiatan Confederation (Konfederacja Lewiatan) says: “The assumed increase in tax progression and greater redistribution of income from higher earners to lower earners will negatively affect the economy. Discouraging citizens from taking up more professional activity will weaken Poland‘s competitiveness as a place to locate modern and highly paid jobs”

Cezary Kaźmierczak from ZPP (Związek Przedsiębiorców i Pracodawców – Union of Entrepreneurs and Employers) argues that the proposed tax rise for small and medium firms will amount to a 30% increase – something that has never happened before. One person’s businesses will be hit the hardest, he maintains. “We’re talking about several hundred thousand production, trade and service enterprises,” Kaźmierczak is quoted as saying in Business Insider. He fears that these changes are not economically, but politically motivated.

Renowned economics prof. Witold Orłowski of PwC Polska agrees with these sentiments, however he points out that small companies benefited from very low taxation in Poland, and at the moment it is still impossible to determine who will lose in the changes proposed by the Ministry of Finance, and by how much. “I have no reasons to disagree with the ZPP’s calculations. The problem, however, is that until the reform becomes law, we will not have a precise basis for the calculations. There are reports of various planned reliefs, so at this point we do not know what the final shape of the changes will be” Orłowski told Business Insider.

 

New healthcare industry player receives PLN 27 mln from investors

Jutro Medical, a primary healthcare provider startup that offers digital checkups and has over 7000 registered patients, has received PLN 27 million from investors including Warsaw-based Inovo Venture Partners, German venture capital firm Rheingau Founders, Market One Capital and other angel investors – according to Business Insider. The new clinic puts an extra focus on technology, the “magical ingredient”, according to founder Adam Janczewski. Every patient is registered to an app that offers access to doctors at any time through chat. “Looking at how complicated (the healthcare system in Poland) is, I understood that the only way to change something was to build our own clinics, hire doctors and give them software. That gives them a superpower” said Janczewski. “Jutro Medical is a mobile first primary care (primary healthcare focused on providing a significant part of services through telemedicine). We have doctors and patients to whom we offer family based healthcare – one where there are no queues. 75% of cases we solve through chats in our mobile application. Our patients chat with our doctors from work, school or home – wherever they want, and when they require more attention – a physical examination, laboratory tests, imaging or simple procedures – we invite them to our clinic in Żoliborz. We offer all this within the National Health Fund (NFZ, Narodowy Fundusz Zdrowia” (For every registered patient, Jutro Medical receives 20pln per month from NFZ). The clinic also offers patients help in finding the right available specialist in case the patient requires help that doesn’t fall under their skills.

With the new investment, the company plans to open clinics in other cities as well as expand to services in pediatrics. Money will also be spent on more technology to facilitate the work of the doctors.

 

First medal for Polish Olympics team in Tokyo 2020

The Polish rowing team has earned the first olympic medal for Poland a silver, coming second after China. The four women are: Agnieszka Kobus-Zawojska, Marta Wieliczko, Maria Sajdak i Katarzyna Zillmann. Poland has been waiting impatiently for a medal since the start of the Olympics, with many favourites so far not achieving their aims. The Polish Olympic team didn’t have much luck beginning with Iga Świątek, who lost in the second round with Paula Badossa from Spain. Świątek also lost in the mixed doubles playing with Łukasz Kubot against the Russians in the quarterfinals on Thursday. Another disappointment came from the basketball 3×3 team who lost to Belgium 14:16 and not making it out of the groups, despite being one of the top teams in the world.

Polish volleyball players won 3:0 this (Friday) morning, with Japan strengthening their road to the quarterfinals. The next and final match of the preliminary round will be against Canada on Sunday.

A chance for a second medal comes with swimmer Jakub Majerski, who beat the Polish record in 100m Butterfly at 50.96s – coming third and qualifying for the semi-finals. On Friday morning he qualified for the finals, coming third with a slightly slower time of 51.24s. Racing against him was USA’s Caeleb Dressel who beat the world record with a time of 49.71s. The final is on Saturday at 3:30 am CET.

15 year old Laura Bernat, the youngest member of the Polish team, qualified for the 200m backstroke semifinals. At the halfway point she was 7th yet managed to overtake two rivals on the final straight, finishing 5th with a time of 2 mins 37s. Unfortunately she came 7th in the semifinals this morning with a time of 2 mins 12.86s. Radosław Kawęcki – also in the 200m backstroke semi-finals today – came 6th, failing to qualify for the final.

Not all hope is lost as many look also towards the Athletics. The Hammer Throw seems to be the strongest of all the disciplines, with a world champion in Paweł Fajdek – who dropped out of the qualifiers nine years ago in London and five years ago in Rio – and Wojciech Nowicki, who won a bronze medal in Rio. Nowicki maintains that he is better in every way than five years ago.

The women’s team has a world record holder in Anita Włodarczyk, who is striving for her third gold medal. Eyes are also on Malwina Kopron who won a bronze medal at the 2017 World Championships in London. The biggest threat comes from Americans DeAnna Price and Brooke Andersen, who have thrown the furthest this season. Group stages start on 2 & 3 August.

There is also hope for the javelin throwers due to the fact that Maria Andrejczyk set a new Polish record this year with a throw of 71.40 m – one of the longest throws in the history of a female javelin. In Rio, Andrejczyk took fourth place. Marcin Krukowski also broke his own Polish record this year by one and a half metres. The group stages begin on 3 August.

There are two Polish contenders in the Pole Vault, Piotr Lisek and Paweł Wojciechowski, who have been among the world’s best for years. Piotr Lisek is the only Polish pole vaulter to break the 6 m barrier and Paweł Wojciechowski cleared 5.93 m in Lausanne in 2017.

In the women’s 4x400m relay, Poles are looking forward to seeing Iga Baumgart-Witan, Patrycja Wyciszkiewicz-Zawadzka, Małgorzata Hołub-Kowalik and Justyna Święty-Ersetic – a team that has won titles at the European and world level.

In the last three Olympics in Beijing, London and Rio, Poland has come back with 11 medals: 4 gold medals in 2008, 3 in 2012 and 2 in 2016. The country’s strongest year was in 1980 in Moscow with 32 medals (although the USA boycotted that games). The Polish team has won 7 gold medals 4 times: in Tokyo 1964, Munich 1972, Montreal 1976 and Atlanta in 1996. Its worst games was during the 1948 London Olympics, with only one bronze medal won by boxer Aleksy Antkiewicz. In total in history, Poland comes 19th in the world rankings with 284 medals: 68 gold, 84 silver and 132 bronze. The first gold medal was won in 1928 by Halina Konpacka in the discus. (source: onet.pl)

Business news compiled by Poland Today from Polish daily media and original sources

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